Gore Street Energy Storage Share Discussion Threads

[cocopah] 15/7/2024 18:30

#Nickelmer totally agree, they avoided answering any relevant questions. They stuck to easy answers about questions that didn’t really mean a lot. They certainly avoided my questions (along the same lines as yours) and including how much money the CEO and others were pocketing from their positions in Gore Street Capital. It is pretty obvious they have no interest in treating shareholders as owners.

[george stobart] 15/7/2024 17:06

I just a received a notification from Bloomberg that SSE PLC is preparing a bid for GSF at a +63.7% premium to last price.

Please keep it secret as they asked me to keep it confidential

[scruff1] 15/7/2024 16:51

The trouble with that yump is that also applies to lots of other stocks - especially REITs and many with similarly attractive yields if thats your bag. The other thing is that if a Labour govt gets into full swing (and milliband is making a good start)that fall in interest rates which people are betting the farm on may not be anywhere like the cuts they are expecting. I think (not sure) that Bailey has already said something like 'people should not expect a return to low interest rates'. Trumps backing for oil also a possible fly in the ointment - as well as all the battery doubts. Its certainly not clear still waters

[scruff1] 15/7/2024 16:42

More like people are cheesed off that they have sat through years of a constantly falling share price despite the coming on line of more assets and the promise of even more. The only thing that has kept my upper lip from quivering is the divi which they promised us was affordable. Now despite seemingly decent results we cant even be sure its gonna be more than 3p !!!! Its not hard to understand why investors are doing a runner

[yump] 15/7/2024 16:42

IF they do pay 7p and interest rates drop, the decrease in dividend will be pretty irrelevant.

[probablynotphil] 15/7/2024 16:34

I also think there's some negative sentiment for renewables today now people think Trump is more likely to be president. I wonder how much that fed into the drop of GSF too.

[scruff1] 15/7/2024 16:32

Its a bit like your boss saying 'I may be giving you a pay cut at the end of the month. You should be happy cos at least I can afford a pay cut'. Personally I think I should be looking for a new job !!!

[alan pt] 15/7/2024 16:18

Interesting share price reaction today, dropping back to recent levels, bouncing around a bit, but nothing too drastic

Suggests that perhaps opinion is divided, as with the posters here, between those who welcome a more cautious covered dividend policy and those who feel that the cut removes any incentive to hold

Personally I'm a little disappointed with 1p, I think 1.25p or thereabouts would have made it more consistent with other renewables trusts. But I can understand the logic of a bigger cut now, to ensure cover in the near term

[bountyhunter] 15/7/2024 16:02

Renewables seem to have picked up with the new Labour government, e.g. NESF, so maybe GSF will pick up too going forwards especially if they can deliver on growth as planned and also if we see progressively lower interest rates.

[bountyhunter] 15/7/2024 15:59

An interesting transcript, thanks for that tip fordin I wasn't aware of that AI feature. AI not good enough to allow cut and paste from the transcript but perhaps that's deliberate.

[waterloo01] 15/7/2024 15:44

I think the wonky white background makes them look more haggard than they are. Decent presentation. Double KWH in next 6 months, so as capex comes down once built, cash flow should increase significantly. Pretty conservative overall.

[fordtin] 15/7/2024 15:25

For those who missed it, the webinar is now available on you tube.



If you scroll down to the number of views and click on '....more' then scroll down again and click on 'show transcript',
you'll get an A I generated transcript. It's not perfect, but better than nothing.

[nickelmer] 15/7/2024 15:14

I thought they did look rather haggard and worn out in the presentation, also, I submitted 2 questions, one on there thoughts on the dreadful share price performance and the other on their revenue guidance once all sites are energised, they did not answer either question, just others they felt safer answering clearly, not impressed

[rogerrail] 15/7/2024 13:41

I guess next year's final dividend (potentialy the final dividend is £19.6m of the £33.6m total dividend) depends very much on the timing of the Big Rock energisation. If it goes as planned , 3 months operation alone equates to £10m in revenue.

[rogerrail] 15/7/2024 13:10

Current revenue run rate is £56m/yr based on last years average £/MW rate. By the end of current FY, run rate should well exceed £100m/Yr.

[fordtin] 15/7/2024 12:18

I know how you feel scruff1. I was debating whether to sell now, but renewables in general seem to be trending upward, so I think I'll wait & see if the tide can provide a better exit price.
Whatever happens, I don't foresee being a shareholder leading up to next year's Q4 declaration.

[panshanger1] 15/7/2024 12:14

Tempted to cut my losses on this too.As ever how much is in the price and how will this behave when interest rates start falling Weak hold for me atm

[scruff1] 15/7/2024 12:07

The more I think about it the more I think the company feels its not going to be able to meet its dividend. Its all based on ifs buts and maybes. Its not a situation I like to trust my cash with. I cant decide whether to follow CC2014 - and Im sorely tempted because I increasingly distrust this company or whether to wait til year end and see how Texas goes but I am pretty certain it wont be on time. Its a mess.

[cc2014] 15/7/2024 10:57

I closed out my position early on this morning.

The dividend profiling was a red flag for me, as is the falling price of Lithium

[panshanger1] 15/7/2024 10:41

If the target 24/25 is 7 pence that implies a final dividend of 4 pence Unlikely imho

[bountyhunter] 15/7/2024 10:41

Yes I understand the disappointment for longer term holders but if GSF can deliver on today's outlook then a sustainable rebased dividend should underpin the shares from this level. With the yield before today at 11.5% I think the market had priced in what's happened today, although the growth outlook and investment tax credit (ITC) of $60-$80m offer some encouragement from here.