Simec Atlantis Energy Share Discussion Threads

[wheeze] 04/12/2024 07:17

SAE brings full power to MeyGen tidal stream site SAE is pleased to announce that, following the successful deployment of turbine 4, the world leading MeyGen tidal stream site now has all four turbines fully operational. This means that the site is now at full power for the first time, delivering 6MW of predictable, renewable power.

[jotoha2] 03/12/2024 11:19

Having been formed within days of the election GBE has now gone asleep , clearly the main driver is enjoying himself travelling the world, spin spin spin , whatever next.

[wheeze] 25/11/2024 15:03

Moving up on very low volume, which is a good sign for holders.Not so good for shorters. ...and no. Don't think they've all been able to close their positions as yet. This could get interesting.

[robertspc1] 25/11/2024 09:52

SAE was an obvious short selling target given its historical debt problems, But with the parent company debt refinanced and Uskmouth generating cash, the risk reward has massively shifted so the short sellers should have moved on. Once Meygen gets restructured this will bounce strongly in my opinion

[wheeze] 25/11/2024 09:47

Is there *ANY* evidence of *ANY* short sellers in Simec? https://shorttracker.co.uk/ JakNife JakNife, that is misleading. You know full well that only short positions over 0.5% are required to be declared and only these positions will be reported on Short-tracker. It is entirely possible to have multiple shorts under the reporting limits which together will have a downward impact on the share price. The SAE share price collapsed down to a market cap pf six million- wouldn't happen without shorting.

[robertspc1] 25/11/2024 08:58

Thanks. I am well aware of the revaluation but I don't think it fully recognises the potential upside. I asked a specific question about the Uskmouth freehold value on the recent webinar. Future potential project cash flows are heavily discounted. There will be further revaluations as projects progress. More importantly there will be development premiums and or rent deals ie cash

[jaknife] 24/11/2024 23:34

robertspc1,

"So they got c10m from Quinbrook and c10m from Electric Land for the first BESS project at Uskmouth. And this is only a “small proportion” of the land owned at Uskmouth. Implies Uskmouth worth a lot more than the current balance sheet value of 60m. Makes a mockery of the equity value here."

If you read the last set of annual accounts you will find that the directors have explicitly revalued the land to take this into account:



See notes 6 and 13.

The problem with this sort of accounting treatment is:

1. In essence the directors have effectively recognised upfront the profits from completing the planned BESS schemes. It's a very aggressive accounting treatment because (A) What if the projects never happen? And (B) If the projects do happen then no profit will be recognised other than the difference between the estimate of the future profit and the actual profit.

2. They're effectively providing for future profits in the accounts but not providing for future management expenses. Hence there's a mismatch between the recognition of profits and losses.


wheeze,

"I think short sellers did not take into account the potential values of the land at Uskmouth. My guess is there are uncovered positions here."

Is there *ANY* evidence of *ANY* short sellers in Simec?



JakNife

[wheeze] 24/11/2024 21:34

I think short sellers did not take into account the potential values of the land at Uskmouth. My guess is there are uncovered positions here.

[robertspc1] 24/11/2024 21:01

So they got c10m from Quinbrook and c10m from Electric Land for the first BESS project at Uskmouth. And this is only a "small proportion" of the land owned at Uskmouth. Implies Uskmouth worth a lot more than the current balance sheet value of 60m. Makes a mockery of the equity value here.

[wheeze] 22/11/2024 14:21

Theyve not mentioned that the 4th turbine is going into the water as we speak - expect a further RNS on Monday?

[skinny] 22/11/2024 12:50

SAE is pleased to announce it has received the penultimate milestone payment of £1.5m under its agreement with EL (Uskmouth) Limited ("EL"), a subsidiary of FPC Electric Land.

On 5 December 2023, SAE announced that it had agreed to sell the freehold land owned by SAE to EL, for a milestone-linked total gross cash consideration of £9.8m. The land is being used for a 460MWh (230MW) BESS being constructed by Uskmouth Energy Storage Limited. The EL land represents only a small proportion of the land owned by SAE at the Uskmouth site available for BESS project development. The milestone payment was received following the successful completion of civil works at the site.

Today's announcement marks the third milestone payment. The first £5.0m payment was received on 28 March 2024, and the second £2.0m payment was received on 28 May 2024.

SAE looks forward to the continued good progress being made on the project. The final milestone will be paid following the delivery of 10% of the batteries for the project.

SAE recently released a video animation highlighting the scale and benefits of the USEP site. This can be viewed here

[jotoha2] 22/11/2024 12:48

Some idle chatter going out that the min return for SAE for developing the Uskmouth site for ESS use will be not less £200 m, great if it's realistic.

[robertspc1] 19/11/2024 09:50

Hmm 6p NAV on their last balance sheet. Despite all their recent comms the gap refuses to close. Time for action, the Meygen fog obscures Uskmouth value and needs lifting

[dave4545] 18/11/2024 16:48

Just over 1 mil sold for 1.5475p when it was 1.6-1.9p so a 2 hour delay for that trade.

At least the mm was not greedy dropping to 1.6p to try and sell it on for a 0.05p profit.

[dave4545] 18/11/2024 16:23

I still do not know after 20+ years if all mm's get to see a huge trade that is going to be delayed a hour+ instantly or not

I mean no delayed trades one hour after that 4 mm drop so again it's baffling.

[robertspc1] 18/11/2024 16:09

No one knows the real value here and it's very illiquid. All about risk and reward, and fwiw I think it's cheap based on the Uskmouth freehold value alone

[jotoha2] 18/11/2024 15:33

Could be corruption or a bit of a tree shake , maybe it's time for that 15p to come good.

[wheeze] 18/11/2024 14:53

Collusion?

[dave4545] 18/11/2024 14:52

4 mm's drop the same time on no trade what's that all about?

[wheeze] 13/11/2024 08:06

Closes down firmly in the red and opens blue - you couldn't make it up. Yesterday they had a massive spread all day guaranteed to kill any trading. Any clues as to whats going on ?

[robertspc1] 11/11/2024 23:03

Nope he has problems elsewhere, seller for me at the right price

[jotoha2] 11/11/2024 17:43

Question is will our friend Gupta throw some serious cash at this little gem , should know before month end.