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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mast Energy Developments Plc | LSE:MAST | London | Ordinary Share | GB00BMBSCV12 | ORD GBP0.001 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.375 | 725,325 | 08:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 0.35 | 0.40 | 0.375 | 0.375 | 0.375 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Electric Services | 1.04M | -2.73M | -0.0104 | -0.36 | 976.26k |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 10:40:10 | O | 20,668 | 0.361 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 23/4/2024 | 14:30 | UK RNS | Mast Energy Developments PLC Holding(s) in Company TR 1 |
| 11/4/2024 | 08:28 | ALNC |  IN BRIEF: Mast Energy finishes phase one work at Pyebridge plant in UK |
| 11/4/2024 | 07:00 | UK RNS | Mast Energy Developments PLC Business Update |
| 07/3/2024 | 08:06 | UK RNS | Mast Energy Developments PLC Q1 2024 Corporate Presentation |
| 04/3/2024 | 10:45 | UK RNS | Mast Energy Developments PLC Holding(s) in Company |
| 28/2/2024 | 10:44 | ALNC | IN BRIEF: Kibo unit Mast Energy inks new GBP4 million funding deal |
| 28/2/2024 | 07:00 | UK RNS | Mast Energy Developments PLC Funding Partner, Agreement & Proventure.. |
| 20/2/2024 | 13:00 | UK RNS | Mast Energy Developments PLC TR-1: Standard form notification of major.. |
| 05/2/2024 | 13:55 | UK RNS | Mast Energy Developments PLC TR-1: Standard form notification of major.. |
| 24/1/2024 | 15:45 | UKREG | Mast Energy Developments PLC Holding(s) in Company |
Mast Energy Developments (MAST) Share Charts1 Year Mast Energy Developments Chart |
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1 Month Mast Energy Developments Chart |
Intraday Mast Energy Developments Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/4/2024 | 02:37 | MAST ENERGY..Kibo holders, lets all buy into Mast and watch this baby grow | 782 |
| 11/4/2024 | 08:48 | Mast Energy Developments - Rapidly Growing Assets in Reserve Power Generation | 508 |
| 13/10/2018 | 13:17 | Anyone got a Mast on their Land | - |
| 05/4/2007 | 17:46 | US MASTERS 2007 | 13 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 09:40:11 | 0.36 | 20,668 | 74.61 | O |
| 08:34:23 | 0.40 | 497 | 1.99 | O |
| 07:38:17 | 0.39 | 25,644 | 99.50 | O |
| 07:10:07 | 0.39 | 255,065 | 985.57 | O |
| 07:04:44 | 0.39 | 23,210 | 90.05 | O |
| Top Posts |
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Posted at 24/4/2024 09:20 by Mast Energy Developments Daily Update Mast Energy Developments Plc is listed in the Electric Services sector of the London Stock Exchange with ticker MAST. The last closing price for Mast Energy Developments was 0.38p.Mast Energy Developments currently has 263,854,067 shares in issue. The market capitalisation of Mast Energy Developments is £976,260. Mast Energy Developments has a price to earnings ratio (PE ratio) of -0.36. This morning MAST shares opened at 0.38p |
Posted at 11/4/2024 10:08 by lurker5 Once again Lemming/numpties on LSE compltely fail to understand the situation, which is that Pyebridge is not Mast, and any income it might eventually pay to Mast will be nowhere near enough to dig Mast out of its financial hole (see its accounts). Someone is comparing Pyebridge's hoped for £400,000 'gross revenue' with Mast's lowly market cap. It is irrelevant. It belongs to Pyebridge which in turn wll owe it to its funders incuding Riverfort. It won't go anywhere near Mast. |
Posted at 23/1/2024 14:45 by lurker5 To recap. Whether this goes 'phut' now, or Coetze pulls another decaying rabbit out of his crumpled hat, Mast will be a masterclass for decades in how smoke and mirrors bamboozles the naive, gullible, and those unable to understand company numbers.Even if the Seira/Proventure deal had gone ahead as envisaged, shareholders would have seen little profit. If they'd carefully read the details and all the announcements they would have realised that at the end of the day Mast won't have been 'given' any free money. The deal merely exchanges for initial cash, the 'projects' supposed to be ready (and paid for by MAST) to be transferred into the jv's, leaving Mast with 25% of them instead of 100%. And at the very end of the day, leaving Mast having fully paid for 25% of the jv, against 75% having been paid by Seira/Proventure, so justifying the eventual ownership split. The trouble now is that 1) the projects Mast was supposed to be giving up to the jv haven't had anywhere near what was to have been spent to get them in to a state to be transferred and to justify the £7m odd Proventure would pay for them. 2) even if Mast had spent the £7m and so would get it from Proventure at the start, it would have to use it to pay off its debts (now at least £2m incurred to get the projects ready) and spend the larger amount needed to get its other projects going. On top it would then have to pay back everything Proventure had given it, by foregoing 15% out of its 25% share of the jv's income for as long as it takes, which looked like being a least 7 years. That would have left Mast with little income to justify even its current share price. While giving up 75% of any projects transferred (and paid cash for by Proventure) will have exactly offset the cash, leaving Mast with no net change in its asset value. So why the rampers ever thought the deal would rocket the share price (except perhaps on the sharp spike they would cause - only to fizzle out immediately) is a total mystery. Another one is believing one company would 'give' another one £7m (or even £2m) 'for nothing' The sensible understand that, which is why no one else is buying or holding, other than a few deluded shouty, rampers. Proventure seems a pretty naive outfit itself. It claims to be a 'global renewable energy group'. But its only discernible experience is to have promised in 2015 to find funding for a solar power plant in Cyprus, only for it to be binned last year. If Proventure ever had done due diligence (at short notice back in July) on Coetzee's rag-bag of stalled 'projects' and the difficult state of the UK reserve power market, it by now would have realised Mast just cannot anywhere near meet the terms of the original deal and that it can't be far off going bust. (And by the way, Kibo can't help it. Mast is a separate legal entity and apart from repayable, likely to be eye-wateringly expensive loans, its only source of cash is extra shares which will dilute current holders) So if it had a bit of sense, and still wanted a toe on the UK market, Proventure would be standing back (as it seems to be) to either re-negotiate the deal (certainly not to shareholders' advantage) or wait until it can pick up the pieces for peanuts (which would wipe them out) Certainly no other UK group has shown any interest in Mast's collection of low-end projects. |
Posted at 28/12/2023 19:24 by lurker5 MASTAstonishing the penny isn't dropping with some of the lemmings. Even if some cash dribbles through, its been obvious we have two mickey mouse outfits here. Mast has achieved absolutely nothing in its nearly three years listed. Its core Bordersley project (once valued by Coetzee at £15 m !) written down to nil and no sign of building let alone generating. Ditto three other projects held since listing, while Pyebridge shown to have been a dud acquisition needing large spending still. The other Mickeys, Seira and its mate Proventure, have had since May to organise their 'investment' and apparently can only scrabble together £2m of the promised £33m. Why ? Because Proventure hasn't got any 'international 'renewable energy' projects. The only one it 'promised'to get funding for in Cyprus was cancelled last year. And it seems its 'investor consortium' is actually Indian HNW individuals. What they must know of the UK renewables market (currently in a dodgy state) is debatable Seems they must be having cold feet if they haven't stumped up yet. And the excuse the funds can't quickly be remitted from India within six months seems pretty feeble. What happens if further funding (absolutely nailed on) is needed if the jv actually gets going ? The lemmings haven't even bothered to discover (very easy to do - that is if they can read and understand) that the interim funds are only for the jv and can't be used by MAST which by now must have net cash debts of £1.5m it can't pay not counting still owed to Kibo (who can't help it being near bankrupt itself). And that any cash that does come from Proventure to MAST itself, will be outweighed by transfer of 100% of whatever project goes into the jv (looks like Pyebridge which needs the 'interim payment' to be spent on it before it generates) in return for which Mast only gets 25% of it when in he jv. So the deal results in a lower asset value (only £1.5m last june and less than £1m now) and the opposite of the bonanza the lemmings are rushing after. Lots more detail freely available which shows how low Mast's share price will go lower even if the jv gets going as 'envisaged' . But that would be too much for the lemmings to hoist in. |
Posted at 27/11/2023 12:10 by dpr1881 @Lurker Since you ask!You made 6 statements belows: Statement 3 - COMPLETELY UNTRUE Statement 5 - COMPLETELY UNTRUE lurker54 Nov '23 - 10:35 - 488 of 528 0 2 0 So Mast's deal is coming and the lemmings are rushing. No-one said the deal wouldn't come. And they said the lemmings would rush. As they have. It's impossible to predict the end of a lemming rush. You can't know what idiots will do - but Mast's true cliff edge will be when the first financial resu]ts after the 'deal' are published - not until next April revealing the truth - unless someone a bit more intelligent than a lemming actually does the research and the maths, and posts the facts on that toxic and misleading chat board - the one ADVFN doesn't like mentioned. Too blind to read and understand balance sheets or financial reports (which show Mast desperately needing cash to pay its debts), the lemmings keep rushing. Too thick also to wonder why Kibo would be selling if it thought 'the deal' (supposedly so close) will boost Mast's shares So, as for the kids at the back of the class who need the facts hammered into their tiny brains time and again - here they are again. 1) The 'deal' merely pays Mast cash in exchange for the same value of its shares in the jv's. So there is no net gain in Masts's value. 2) Mast ends up with only 25% of the jv's, whereas it had 100%. 3) What cash it gets now will be swallowed up by its current debts (balance sheet and latest directors' report show Mast to be insolvent). 4) Mast has to 'repay' that cash by foregoing 60% of its already small remaining 25% jv share until all repaid - which looks like taking at least 3-4 years starting in perhaps 2 years time and with the industry in dire straits (see below) could be much longer. 5) On top, Mast hasn't even got together all the sites it has promised for the 2nd part of 'the deal' (only 40MW v 50MW) - and after repaying its current debts from the cash, won't have enough left to pay to acquire them. So it is going to have to find probably a big part of its current market value via a further cash raise that will dilute existing shareholders (including Kibo who knows it is coming) - probably substantially - on top of the 60% dilution already baked in. 6) The jv's net profit will be pretty low in any case, even before dilution reduces earnings per share. Pyebridge, operating for more than a year, is earning less than half what LC predicted. And reports by a large well established group, UK Power Reserve, show the dire state of the industry, with its 42 sites generating 804 MW only making a £5m operating profit last year, on £36.7m revenue (meaning Mast's 10% share of its 50MW jv would be peanuts - not supporting even the current share price.) |
Posted at 04/11/2023 10:35 by lurker5 So Mast's deal is coming and the lemmings are rushing. No-one said the deal wouldn't come. And they said the lemmings would rush. As they have.It's impossible to predict the end of a lemming rush. You can't know what idiots will do - but Mast's true cliff edge will be when the first financial resu]ts after the 'deal' are published - not until next April revealing the truth - unless someone a bit more intelligent than a lemming actually does the research and the maths, and posts the facts on that toxic and misleading chat board - the one ADVFN doesn't like mentioned. Too blind to read and understand balance sheets or financial reports (which show Mast desperately needing cash to pay its debts), the lemmings keep rushing. Too thick also to wonder why Kibo would be selling if it thought 'the deal' (supposedly so close) will boost Mast's shares So, as for the kids at the back of the class who need the facts hammered into their tiny brains time and again - here they are again. 1) The 'deal' merely pays Mast cash in exchange for the same value of its shares in the jv's. So there is no net gain in Masts's value. 2) Mast ends up with only 25% of the jv's, whereas it had 100%. 3) What cash it gets now will be swallowed up by its current debts (balance sheet and latest directors' report show Mast to be insolvent). 4) Mast has to 'repay' that cash by foregoing 60% of its already small remaining 25% jv share until all repaid - which looks like taking at least 3-4 years starting in perhaps 2 years time and with the industry in dire straits (see below) could be much longer. 5) On top, Mast hasn't even got together all the sites it has promised for the 2nd part of 'the deal' (only 40MW v 50MW) - and after repaying its current debts from the cash, won't have enough left to pay to acquire them. So it is going to have to find probably a big part of its current market value via a further cash raise that will dilute existing shareholders (including Kibo who knows it is coming) - probably substantially - on top of the 60% dilution already baked in. 6) The jv's net profit will be pretty low in any case, even before dilution reduces earnings per share. Pyebridge, operating for more than a year, is earning less than half what LC predicted. And reports by a large well established group, UK Power Reserve, show the dire state of the industry, with its 42 sites generating 804 MW only making a £5m operating profit last year, on £36.7m revenue (meaning Mast's 10% share of its 50MW jv would be peanuts - not supporting even the current share price.) Since Mast urgently needs a higher share price so as to mug shareholders for the lots more cash it needs even after 'the deal', and given the sheer stupidity and wrongness of what is being ramped, it's obvious the rampers are being paid. Given they started before a big holder started selling, I wonder who that might be ? (There are other big inside holders than Kibo, don't forget) It's not only to meet pressing debts that Kibo might be selling now. It also knows that it, and Mast, needs a big cash raise in the near future - so it wouldn't want to be caught. With so much ignorant ramping, Mast is a slam dunk obvious trading share for those who know what they're doing so some of the 'lemmings' might be astute traders. (Taking the risk of being killed in the stampede to get out) I don't trade myself, (except, once, 8 years ago I did make a good pile by trading Kibo's last big, obvious, 2016 lemming spike when I sold out completely at over 9p) I'm only here (and on other boards where fantasy reigns) because, like Einstein I'm fascinated by stupidity, and think it should be studied carefully - like cancer or the behaviour of rats. But as Einstein said "The difference bewteen intelligence and stupidity is that intelligence has its limits" - so we'll probably see a lot more varieties. As for progress, see UK Reserve Power above. The market is competitive and meeting problems (Energy trusts have all crashed this year). while Mast seems able to acquire only the dregs of what sites are still available (Pyebridge turned out to be junk, needing a lot of cash to put right) - almost certainly because Mast has only a tiny team, whereas there have been other much bigger and better capitalised reserve power groups out there long before LC ever thought up Med as yet another of his - always late to the party - wheezes. Why else has no other reputable group of investors shown any interest ? Only a new group of lemmings - obviously never heard of LC and his n'er-do-well wheezes before - suddenly arriving a few months ago. And an overseas group obviously wanting a cheap entry to try out the UK market. Why the lemmings think 'institutions' will scramble for the shares once the first $2m payment arrives is one of those unfathomable mysteries - could only have been dreamed up by rampers being paid for such idiocy. |
Posted at 26/10/2023 16:47 by lurker5 UNfortunately what I said in post 416 still applies to Mast. The principal cash injections (to fund remaining capital invvestment needed) all go to the jv (a separate company) and Mast gives up its 75% in exchange for 25% of the expanded jv. Its a pure exchange of assets, and no net addition to Mast itself. After all, a company doesn't give an asset to another company for nothing. And neither does a company gain value unless it makes a profit or its shareholders put in more funds or it finds a Kohi-Nor diamond down the back of its sofa. Thats why anyone supposing Mast is worth more after the deal is mistaken. It may be that Mast is getting the other injected cash (to compensate for what it has already spent) in exchange for the illiquid jv assets, but that cash is only enough to pay off its net debts and leaves little over to progress its other projects. The next tranche will be the same, except that Mast hasn't yet got together the full 50MW to go into the jv and won't have enough to buy the ones still needed from scratch. And lastly, Pyebridge, operating for 8 months last year, only earned c £1m revenue and made only £220,000 profit (accounts on Companies house) which, for a 9MW plant doesn't bode well for what 50MW will earn in a full year and for Masts 10% of it ! Once that, and the extra Mast shares even before new cash raisings (80m to the new jv owner + 80m warrants = 320m) sinks in, will show the rampers that Mast's share price will stay very low. But meanwhile no doubt they will rush in ! |
Posted at 17/10/2023 19:22 by lurker5 Looks like LSE has been taken over by real thickos - yobbish language and threats to the only realistic one there to boot.Where they get their grotesquely misleading value for Mast is a mystery. Looks like deliberate market manipulation. The immediate cash Mast hopes to get from Seira is only £3.4m - just enough to repay its debts. No way is it ever getting £14.2m, and even the next £3.8m is problematic. At end June Mast's net assets were £1.5m - £4.25m tangible and intangible for its projects, offset by short term net debts of £2.75m which it had no cash to pay off, so technically insolvent - as the co admits. Since then to end Sept it's paid off £469,000 in shares to Kibo, but likely spent another £300,000 just to keep the lights on, plus probably a lot more to keep eveloping the remaining 4 projects, plus those it will have to acquire to make up the 50MW that Mast trumpets. Going by the first half, Pyebridge might have contributed £100,000. That leaves MAST still needing £to pay off £2m from that £3.4m from Seira, while exchanging Pyebridge's £2.5m balance sheet value for 25% of the JV - which, counting in Seira's £5.9m injection, will be 25% of £8.4m - ie, surprise surprise, £2.1m. So Mast's total asset value stays about the same - 1.5p per share - but with only £1m or so cash to progress Bordersley and the next tranche 2 projects. Tranche 2 promised repayment is only £3.8m - and unlikely within a year - if at all - because Mast still hasn't got together all the projects to make it up - let alone has the cash to acquire more and pay for planning permission and connections. This can all be seen from RNS's and end June results. So Whoever thinks Mast itself will rocket in value doesn't seem to understand the many RNS's and Mast reports explaining the deal in detail, nor checked out Mast's dire balance sheet. That's not all. Even if the full tranche 2 deal goes through. Mast will only get 10% of the xpanded JV's profit (about £0.6m pa to Mast before overheads) until Seira has recouped those £7.2m repayments. Using Kibo's own revenue forecasts and Pyebridge's 37% margin, means at least 5 years - during when Mast's income will be peanuts. And that's when the shares will have ballooned from the 180m at Mast's float to 340m when Seira gets its 80m free Mast shares from the deal. Thats apart from what it will need to issue to pay for the rest of its target. So earnings per share won't be much more than 0.2p - meaning a share price no better than now and possibly less. But there's even more. MAST's majority owner, Kibo, is in even direr straits, owing a net £2.5m of its own. Its June report says "Kibo had net assets of £823,838 and current liabilities of £3,381,489, indicating that a material uncertainty exists which may cast significant doubt on the Group’s ability to continue as a going concern" - which itself is dependent on 1) Successful conclusion of funding initiatives of the Group in order to continue development of the underlying projects of the Group; and 2) Successful completion of a joint venture agreement between MED and an institutional investor to a total value of £31m for which a Heads of Terms has already been agreed, as previously discussed above" Item 2 is a complete red herring because that £31m cash goes to the JV - not to Mast and not to Kibo, so to pay its debts Kibo can only rely on item 1 - ie issue yet more shares or get even deeper in hock to Riverfort. I wouldn't be surprised if the second phase doesn't happen. Seira will have had more time for deeper due diligence, realising what a mess Kibo is in. No sensible investor would have any dealings with it, just like all the advisers and brokers who have dropped it over the years. |
Posted at 26/8/2023 12:36 by lurker5 To recap.Many newcomers don't understand how Mast works. Especially those just arrived on that other place. They don't know its history, nor the financial structure of its peaker plants. Unlike most companies who own their assets and businesses directly, peakers like Mast hold their plants inside a series of legally separate 'Special Purpose Vehicles' whose assets and liabilities (and existence of any other investors) are not required to be disclosed even in the parent's accounts, and are therefore hidden from shareholders. Its why an alternative name for the practice is 'off balance sheet financing' which, while strictly not illegal, is frowned upon after the Enron scandal. That went bust because investors (and even Enron) didn't know the extent of its hidden borrowings, which eventually Enron couldn't service. It's this structure which obscured what was happening at Mast and is now being exposed with the Seira deal. The fact is “the institutional 'investor consortium' - now revealed as one man band Seira capital (no info or track record or shareholder lists on companies House) - is not 'injecting' funds into Mast but is in effect taking 75% of its five projects off its hands along with the liability to fund them. That is something Mast has failed to do after two years talking to Close Bros ! The deal also reveals the true cost of completing the projects - a major fact Mast and its ringmaster Kibo have always obscured from investors and was one (of two) reasons Mast got away with listing its shares at their grotesquely inflated 12p price, with a listing document which was economical with the truth that major funding was still needed. Although Mast hasn't specified which projects make up the stated 33Mw (was originally 41MW) going into the JV, they look suspiciously like the five it has been working on. Seira is taking 75% ownership of the SPV's which hold them, along with the liability to cough up all the £33.2m cost to complete them That works out at £1m per megawatt,. Adding what Mast has already spent - ie the £7.7m that Seira will reimburse - makes the true capital capital cost £1.2m per MW. which is even more than what I've always posted is needed but contradicted or disbelieved on here So for the first time Mast has had to disclose latest industry costs to be at least some £1 million per megawatt, which needs to be taken into account when looking at peakers’ true profitability. On the £15m revenue for 33 Mw quoted by Mast at the 37% gross margin it has just achieved at Pyebridge, that means less than a £5.5m return on the £41.3 total capital cost. Although there will hopefully be other income from trading the markets, it can't be counted on, and that is a paltry baseline 13.3% gross return for a limited life, and erratic, project in an industry now becoming more and more crowded and costly.. That is a lot less than the 21% LC was crowing about, which benefited from ‘gearing up’ that basic return through the use of bank loan funding - which it can’t now do. Another severe blow to what shareholders were led to expect. Now it is Seira which is benefiting , in return for baling out Masts' projects with its own funds. Not only that, but it is getting 90% of net profit (instead of 75%) until it has recovered that £7.7m- which therefore isn't a permanent 'injection' into Mast, but is having to be repaid through Mast foregoing 15% out of its 25% share until paid back. (It shows what a stranglehold Seira has been able to get through LC’s mismanagement) The clappies should work out how long that will take. Assuming all the 41Mw (originally stated but now seemingly ‘up to 33Mw’) is operating at the same margin as Pyebridge, after tax (say 20%) I make it 3 -4 years before Seira gets its £7.7m back and before Mast starts getting 25%. That looks like mid 2027-2028 ! That’s not the worst of it. Seira is also immediately getting a big stake in MED through the shares it can get in return for clearing Mast's existing £729,750 outstanding loan. (now reduced to £623,000) At 2p, that would give Seira 18.2m shares in year one, and the same in year two unless the shares get above 2p (which I don't think they will for reasons below) On top of that, in the next few months, Seira can get an astonishing further 86.8m shares as warrants at up to 1.76p (ie they might convert soon) taking their stake to a potential 122.9m - adding 52.6% to the 232.2m Mast shares currently in issue. All in return for a paltry £1.5m cash. So existing shareholders' stake in the 50MW projects it is surrendering is diluted firstly by 75%, and then by another 46% - while Seira gets a 36% stake in Mast (on top of the debentures it is taking as security) And yet someone on here thinks LC has never ‘diluted’ And if anyone thinks the shares (if converted at at 2p) are ‘cheap’ then why is the conversion price set so low ? They value the company at £5.7m, or 1.76p per share - which in my view is all they will ever be worth - if that. The reality is that the Seira deal is disastrous for Mast shareholders. The £33.2m ‘injectionR That little has changed is shown by the end result in shareholder earnings The £15m projected income for 33Mw at the latest 37% gross margin (which could of course change) would deliver only £550,000 to Mast for the first four years, before its own admin costs which are nearly £1m.. AS for the plant management fee estimated at £240,000 for 33Mw it will come out of the projects’ gross profit (£5m before Mast's 25% share otherwise it would be double counted) and will be subject to Mast’s own cost to operate, and its tax. So a big deal ! And as for the 750% ‘capacity market uplift’ being crowed about, it takes revenues only to just over £300,000 ! At 37% gross margin and after tax, another big deal ! You can also add whatever new projects Mast can find. But where is the cash coming from to develop them ? ‘Up to 300MW’ ! Strewth !( Anyone totted up all those other Walter Mitty ‘ambitionsR Once all warrants and shares are issued next year, Mast's less than 25% of 33% of £15m revenue, plus its fees, will amount to not more than £1m on 340.3m shares - ie 'earnings' of less than 0.3p per share before tax. As a limited life business (with no dividends in sight) the market wouldn't accord more than a 6 times PER (if that) which means the current 1.8p share price - for earnings that won't be seen for nearly four years. And on shares likely to be horribly more than 340m. What sensible investor will touch it ? On top of it all, the balance sheet looked dire even three months ago. Only £87,000 current assets against £2m of current liabilities and another £787,000 slightly longer term. How far is the £3,8m from Seira that Mast is hoping for going to help that ? - what with nearly £1m pa other outgoings. Why else is this statement with the latest results ? “Therefore, the ability of the Group to continue as a going concern is dependent on the successful implementation or conclusion of the below noted matters as it will address the liquidity risk the Group faces on an ongoing basis. · Conclusion of the signed JVA agreement with the institutional investor, which is expected to be completed in quarter three of 2023. · Further successful conclusion of funding requirements of the Group in order to complete construction of the Group's existing and/or new sites. · Successful cash generation from the Pyebridge power-generation facilities in order to achieve net cash positive contributions to the Group. Although there is no guarantee, the Directors are confident that the above matters will be successfully implemented and have a reasonable expectation that the Group will be able to raise sufficient financing to support its ongoing development and commercialisation activities to continue in operational existence in the next 12 months Note “only for the next six months” and “only for the ‘existing̵ No wonder ‘restructuring And no wonder a significant fund raise is 99% nailed on. (although I don't think would succeed. That would mean the final curtain) I’ve seldom seen such a basket case. And I doubt even broker Novum - the same team behind Do!fort's misleading coverage of Kibo and its grotesquely inflated price 'targets' - will have the gall to try to polish it. |
Posted at 31/7/2023 14:33 by yaki "...Other than being dragged up by Mast, what upside in respect of funded projects does Kibo have?"Mast exposure is obvious one and is geared as Kibo's Mast shares are worth 2.1m vs market cap of 1.8m, ie 16% upside as it is. If add the 800k owed to Kibo - upside goes to 61%, ie share price of 0.076p if add the other 450k still owed by Mast - upside becomes 86% - 0.088p and then we have USE IPO which can be quite lucrative KAT shares - worth another 150k So easily can justify 0.1p today, ie 100%. Without MAST doing anything. Obviously if Mast doubles and more, can see 0.15-0.2p! DPR1881 31 Jul '23 - 13:37 - 184 of 185 I am confident the JV will complete and will be transformational for Mast. Once completed Mast will transfer 5 projects with a generation capacity of upto 45.5 Mw. These projects will be fully funded and Mast will quickly move towards breakeven / cashflow positive (excluding investment activities): Pyebridge (generating) 9 MW Capacity 9 MW Potential Capacity Bordesley (in construction) 5 MW Capacity 19.1 MW Potential Capacity Rochdale (acquired) 4.4 MW Capacity 7.5 MW Potential Capacity Birmingham (Hindlip) (acquired) 7.5 MW Capacity 7.5 MW Potential Capacity Birmingham (Stather) (acquired) 2.4 MW Capacity 2.4 MW Potential Capacity Total Capacity 28.3 MW - Total Potential Capacity 45.5 MW To this point the most significant barrier as been the lack of available funding (fossil fuel projects are notoriously difficult to fund due to the ESG agenda of funders), once these projects are fully funded even assuming 10% profit share of 28.3 MW only it is easy to see significant upside for the Mast share price. Other than being dragged up by Mast, what upside in respect of funded projects does Kibo have? |
Posted at 31/7/2023 13:37 by dpr1881 I am confident the JV will complete and will be transformational for Mast.Once completed Mast will transfer 5 projects with a generation capacity of upto 45.5 Mw. These projects will be fully funded and Mast will quickly move towards breakeven / cashflow positive (excluding investment activities): Pyebridge (generating) 9 MW Capacity 9 MW Potential Capacity Bordesley (in construction) 5 MW Capacity 19.1 MW Potential Capacity Rochdale (acquired) 4.4 MW Capacity 7.5 MW Potential Capacity Birmingham (Hindlip) (acquired) 7.5 MW Capacity 7.5 MW Potential Capacity Birmingham (Stather) (acquired) 2.4 MW Capacity 2.4 MW Potential Capacity Total Capacity 28.3 MW - Total Potential Capacity 45.5 MW To this point the most significant barrier as been the lack of available funding (fossil fuel projects are notoriously difficult to fund due to the ESG agenda of funders), once these projects are fully funded even assuming 10% profit share of 28.3 MW only it is easy to see significant upside for the Mast share price. Other than being dragged up by Mast, what upside in respect of funded projects does Kibo have? |
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