Gore Street Energy Storage Share Discussion Threads

[fordtin] 12/3/2024 08:17

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Finally!

" Post-period, the Company's energised capacity increased by 49.9 MW to reach 421.4 MW, following the successful energisation of Ferrymuir on 12 February."

[cocopah] 12/3/2024 08:01

Hmm … I see little in the update to move the dial on the share price and no conciliatory comments from the CEO on the decimation of the share price either.

Income for Jan/Feb at £16.1 per kWh but that includes £3m compensation so operational income is a lot lower.

The nod to lower battery costs and lack of commentary about income streams tells me they made the wrong call on 1 hour batteries especially now the 30 min rule has been relaxed.

Communication is gradually improving but it’s still opaque on income and divi cover (like pulling hen’s teeth!).

It’s still a long way back to break-even for me (and I bought way under NAV).

[melody9999] 12/3/2024 07:55

£16.1/MW/hr for Jan/feb standout. Increased from Q4. Reinforces dividend cover.

[waterloo01] 12/3/2024 07:25

The macro-environment has led to a massive decline in the pricing of cells and we are, therefore, able to upgrade our assets where most advantageous to longer duration at a fraction of the prices seen a year ago, opening new profitable revenue streams. Completion of these assets will further reduce our exposure to the weaknesses of the GB market and ensure we continue to lead the sector through a turbulent period."

[waterloo01] 12/3/2024 07:22

Excellent report with a fair amount of detail. Reconfirmed divi level and the effect of falling cell prices on build/replacements. Still no debt at corp level and good cash held.

[spectoacc] 12/3/2024 07:11

NAV down, but another very good RNS, which will likely have the same effect as all the earlier ones - dcb, then renewed falls.

One question I'd like the answer to, when they go on so much about the GB market - what happens to the US market if/when Trump's back?

[waterloo01] 11/3/2024 22:46

What number brings them back to percentages pre investec ?

[rambutan2] 11/3/2024 22:30

Relevant letter to The Times re current malaise across the Trust sector, and I spot Mr O'Cinneide's signature, amongst many others.

[lord gnome] 11/3/2024 21:08

Well I certainly won't be adding any more just yet. If the selling continues then the share price will only go one way. Once the selling is completed these will bounce and will be a screaming buy. I can't complain about the prices I've paid so far or the yield locked in, but possibly the best is still to come. I'll sit on my cash for now.

[scruff1] 11/3/2024 20:06

Interestingly when the first RNS informing of Rathbones circa 1m sale the share price was around 70p. Whether it was assumed that that was it or not but by the time of the next RNS informing of another circa 1m sales the share price was around 90p. Maybe awareness had been raised but this time the share price is around 60p. The selling appears to be continuing and there are still circa 10m to go. Do I don a tin hat or abandon ship?

[george stobbart] 11/3/2024 19:16

Rathbones investment team has group seks with a person of the same gender and are woke radicals and pro Covid vaccine

Shame on them for selling GSF

[yump] 11/3/2024 18:20

So a bit of capital gain would be nice plus a dividend that stays perhaps 2-3% above fixed no risk rates ?

[waterloo01] 11/3/2024 18:13

Due a NAV update and divi date.

[williamcooper104] 11/3/2024 17:56

Indeed DGI9 is interesting in that you could/should get a decent re-rating in the next few months which generates a capital gain that can still be re-invested at a relatively high yield

[cc2014] 11/3/2024 17:36

It looks to me there are several/dozens of IT's in the same boat where arguably one might think it worthwhile someone buying up "inexpensive" shares.

But, whilst they continue to face large redemptions they are going in the opposite direction looking to find buyers of their stock.

I see no end to it at the moment, but in a funny sort of way I'm not sure seeing an end to it helps me. With interest rates at 5%, I can get a 10% return on my capital.

If interest rates go back to 1%, for sure I'd get a great uplift in the value of my holdings and a capital gain but I'd then be struggling to get a 5% return on my capital.

I'd have more capital, maybe 20% more, but my income would have halved.


(That's a bunch of theory of course. So far this year I've made nothing as the loss in capital is balanced by income)

[alan pt] 11/3/2024 17:24

The disappointing thing is that nobody else showed up to take a big stake off them, you'd think it would be attractive to an equity income fund or a large pension fund

[cc2014] 11/3/2024 16:43

FWIW I feel Rathbones are responsible for a fair chunk of the selling in the IT sector. That won't stop them selling more though!

[waterloo01] 11/3/2024 16:36

Guess with the merger they were overweight. Divi 12%. Discount to NAV 42%


James Carthew: ‘Buy’ great opportunities in run-down renewables

[spectoacc] 11/3/2024 16:19

Just another 11%..

There's others in similar position - is creating some bargains, but bargains that'll go lower first.

[cwa1] 11/3/2024 16:17

Rathbones continuing to reduce. Wonder how low they want to go? Zero? Long way to go if they want to sell out completely :-/

[waterloo01] 11/3/2024 10:51

Money still heading toward the sector

NextEnergy Capital raises US$110 million for Europe/US solar and storage fund

[alan pt] 11/3/2024 10:06

It is discussed because sudden changes in direction are not unknown

To take a recent example, DGI9 on 18th July 23
www.londonstockexchange.com/news-article/DGI9/company-update/16044584
"The Board reaffirms it is targeting an aggregate dividend of 6.0 pence per Ordinary Share for the year ending 31 December 2023"

DGI9 on 28th Sept 23 (barely more than 2 months later)
www.londonstockexchange.com/news-article/DGI9/syndication-q2-dividend-shareholder-consultation/16143203
"The Board has therefore elected to not declare the Q2 2023 dividend and withdraw its target dividend of 6.0 pence per Ordinary Share for the year ending 31 December 2023"

A particularly egregious example, but the point is that these statements mean precisely nothing

[scruff1] 11/3/2024 08:35

Would that the share price was similarly remarkable in its resilience. Usual start to another week I see and although I havent checked em the sales are already well ahead of the few buys so it looks like the trajectory continues.