Gore Street Energy Storage Share Discussion Threads

[return_of_the_apeman] 29/1/2024 14:16

Could do with support at 70p holding

[yump] 29/1/2024 14:06

Jeffries et al would have no credibility if they said things would deteriorate when the share price was much higher. Same as wealth managers. Their job is to not lose you money, rather than make gains.

As long as they can all point at what the market is doing, they have a get-out clause.

It would hardly have looked credible to issue lots of buy notes in March 2000, or 2003, or 2008 etc etc and yet those were the times to pile in.

They were all over the dotcom boom though. Until it wasn’t one any more.

This country needs more people that can do stuff and far less commentators.

[mylands] 29/1/2024 12:58

Nearly 3 milion traded today and not even 1pm. The selling continues.

[panshanger1] 29/1/2024 12:52

Some big lines going through Significant seller out there it seems to me Minded to add a few more but not sure we're at the bottom yet

[fordtin] 27/1/2024 17:23

panshanger1 - reading it your way makes most of the other targets look suspiciously vague. Why bother saying December and End of Year?

Project - Big Rock
Target Energisation - Dec - end 2024

Project - Dog Fish
Target Energisation - Dec - end 2024

Project – Enderby
Target Energisation - May - end 2024

Project - Wichita Falls
Target Energisation - June - end 2025

Project - Mesquite
Target Energisation - June - end 2025

Project - Cedar Hill
Target Energisation - June - end 2025

Project - Mineral Wells
Target Energisation - June - end 2025

[scruff1] 27/1/2024 15:52

Ferrymuir was on track for energisation in Nov 2023 !!

[waterloo01] 27/1/2024 14:43

The yield will reduce when/if the share price recovers. With a NAV that really should be increasing year on year, with very low debt levels, and hopefully more than 1:1 divi cover this year, I don't see the need for GSF to change the formula. It's the share price that's wrong.

The damage was done last year when prices in the UK went through the floor. Even the Jefferies report suggest the UK will be back in balance later in 24, and the report, which would have been useful 9 months ago, but regardless GST best of the bunch by a mile.

[bountyhunter] 27/1/2024 13:44

Yield now 11%

[panshanger1] 27/1/2024 12:12

Doesn't that relate to the period ie between the end of jan and year end

[waterloo01] 27/1/2024 08:49

Most of the new capacity this year will be EX UK.

"Operational Capacity: the Company reports a 27% increase in operational capacity during the quarter to 372 MW following the 79.9 MW Stony asset becoming commercially operational during the period. The Company remains on target to achieve an operational portfolio exceeding 800 MW by the end of 2024."

Construction Progress per Geography:

-- Great Britian: Stony (79.9 MW) became commercially operational during the period and Ferrymuir (49.9 MW) remains on track to meet its energisation target. All other GB projects remain on schedule.

-- California: All material procurement for Big Rock (200 MW) is complete, including a contract with RES for BESS balance of plant. Construction teams have been mobilised on site and civil works began on schedule.

-- Texas: An advance order for long lead HV equipment was completed in September for Dogfish (75 MW) and was followed by the completion of a turnkey EPC contract with Nidec in December. Design works are underway with mobilisation planned for summer.

-- Ireland: At Porterstown Phase II (60 MW), initial civil engineering works preparing the ground for BESS installation were completed. An engineering and construction management contract has been signed with RES and procurement remains on schedule. At Kilmannock, necessary planning applications have been made and the detailed design stage is underway.

[scruff1] 27/1/2024 08:44

The continuation vote back in the summer was passed as I remember largely as management promised to restore the divi cover by the end of this year. No doubt that's largely based on Stoney and Ferrymuir contributions to the pot. I suppose by then we will know if this is going to ever live up to its promise or whether it is another 'what should/could have been.
nick - its hard not to get the impression that something that may not happen has been priced in(out!). It would be nice to think that the lost mkt cap would be returned just as quickly if it doesnt. We know better though!

[george stobbart] 27/1/2024 07:55

GSF needs to raise further the dividend given the significant cash cover in FY24 adj for pipeline delivery.

Investors wants answers why they are not announcing a dividend increase

[nickelmer] 27/1/2024 07:26

Looking at the share prices of GRID and HEIT relative to GSF I suspect the market is starting to price in the fact that GSF's global portfolio will ultimately deliver higher revenues, heaven knows where the bottom is in these 3 shares, but, I feel that GSF will be the cleanest shirt in a dirty laundry basket

[nickgrant2] 27/1/2024 07:12

How cemented into their legal obligations is a div cut approach that breaks the 7% + 0.5% per 7p over 100p?

I am assuming there is some way they could weasel it, accumulating a dividend deficit and simply keep on kicking it into the future? Issue the dividend in shares? I am sure they have people with a lot more imagination than that so many more options.

[waterloo01] 26/1/2024 20:33

City just repeating jefferies line. Most of the damage has been done already. They will near double capacity this year, much of it ex uk. Anyhow, if they want to reduce divi they will need to cut nav, and I see nav increasing, even if the share price doesn't.

[scruff1] 26/1/2024 20:19

Article in Citywire this pm re battery storage. Problem is the market is anticipating dividend cuts. These have been going nowhere and there seems to be no realistic possibility of that changing anytime soon. Capital destruction and dividend cuts = pan lid. You would be living with faith alone - a bit like monks - in sack cloths. I'll give it a tad longer. I dont like pulling out now but I think my money could produce better returns elsewhere until something more positive looking appears on the horizon and that doesnt really include Stoney or Ferrymuir - on their own they will make little difference imo. Whichever graph you choose - it looks terrible.

[george stobbart] 26/1/2024 19:49

Most likely another Jefferies hit piece coming Monday morning.

Why are they so obsessed with battery trusts now that they are falling towards the earth core?

They never showed up when the prices were at the 90s/100s

[mirandaj] 26/1/2024 18:56

NB "Stony commenced commercial operations as of 18th December"

[melody9999] 26/1/2024 18:48

CC 886. Great point. The Jefferies report is focused on what has already happened. If that is news to you, then its a sell signal which is what has happened generally across the sector.

But for those of us watching more closely (and recognising GSF geographic diversification) it is likely a good buy opportunity.

[cc2014] 26/1/2024 13:54

If my feed is to believed there is so much wind and sun today that fossil fuel only accounts for 8% of electricity generated

As a result the spot price of electricity went negative at 11am and has been £50MWh or higher negative since around 11:30 (or is it lower - currently running at £65MWh negative)

Time to get paid to fill up those batteries!

[cc2014] 26/1/2024 07:51

I'd like to see some Director buying too but the fund manager did spent £1m back in October buying back shares at 78.5p