Simec Atlantis Energy Share Discussion Threads

[jotoha2] 01/8/2023 12:47

It's now been officially confirmed the next Labour party in power will invest heavily in Scotland , tidal power will be one of their targeted area of expertise , somewhere in the region of £400 million in first 3 years DYOR .

[gbjbaanb] 27/7/2023 15:34

What they want and what the corrupt shtbag politicians want are two different things. We should have had an innovative plastic burning power plant there by now.

[robertspc1] 27/7/2023 13:03

Uskmouth has value as an energy park not for housing. They want 1GW of BESS there. Site must be worth around 40 to 50 million. But there is 55 million of debt so the that's why the equity is valued so lowly.

[bishfund] 27/7/2023 11:01

hxxps://www.constructionenquirer.com/2023/07/27/bam-jv-bags-uks-largest-electricity-transmission-project/

[jotoha2] 27/7/2023 10:25

The Welsh goverment loves social housing , so would go out of their way to build on the site, any cash from the sale of land could be used to expand Maygen , 20 turbines would be a nice start to grow this technology.

[gbjbaanb] 27/7/2023 09:58

People don't get how many houses though, the ONS says the number of houses in gloucestershire is just over 300,000. That's an entire county. So yeah, they'll have to concrete over all of uskmouth just to get started.

[jotoha2] 27/7/2023 09:20

Take a look at Battersea , apartments selling for £10 million per unit.

[jotoha2] 27/7/2023 09:18

There is a plan at the very top of the Tory party to build hundred of thousands of social houses ,sounds like Uskmouth is perfect for a massive return of capital.

[repins1] 27/7/2023 07:15

Also if you've seen it, who the hell would want to live there, proper nasty place, lol

[repins1] 27/7/2023 07:08

For housing your having a laugh, that is priceless that site, so much going on, from Hinckley point to fusion, check out western gateway

[jotoha2] 26/7/2023 17:30

Good day , but they really need to sell any surplus brown field are at Uskmouth for development of green technology Housing , my estimate is it's probably worth around £900 M

[babbler] 26/7/2023 08:48

Attention is drawn to the Report on the Audit of the Financial Statements: Material Uncertainty Related to Going Concern, paragraph 8 of the financial statementsSo buy buy buy... Mad market.

[wheeze] 26/7/2023 08:32

Where's JakNife this morning?

[jotoha2] 26/7/2023 08:29

They have a clear path to success , developing more capacity quickly at Maygen is the correct initial route .

[wheeze] 26/7/2023 07:35

Trading resumes this morning.Power sales of 3.9million. Not bad for a couple of turbines. The project has massive potential if we keep our heads above water and turbines under.Fires burning everywhere highlight the need for renewables.Hopefully a few short positions burned this morning.

[robertspc1] 24/7/2023 17:43

They were looking for ten to twelve million I think but it's dragging on. Uskmouth is a valuable asset with more project potential but the debt picture here is very murky so valuation is difficult and there is risk that it all collapses. But multiple upside too

[mdchand] 24/7/2023 16:06

So, the question is, how much will an institution pay for that income stream (now) as a lump sum now taking into account interest rates, and possible default risk.

[wheeze] 24/7/2023 13:25

SIMEC Atlantis (SAE) has announced that it has received the £4.0m development premium, marking financial close at its Uskmouth battery energy storage system (BESS), one of the largest BESS projects in the UK (230MW/460MWh). Following financial close, SAE is now expected to receive c. £950k annually over the 30 years covered by the agreement. This will provide a needed cash boost for SAE and allow for continued work at its MeyGen Tidal Project.

[wheeze] 24/7/2023 13:24

Worried about your shorts JakNife ? For once you may say what you like as you cannot influence the share price, lol.

[jaknife] 24/7/2023 10:32

How many different people have they promised that cash to?

"The Company expects to use part of the initial proceeds from the agreement with Uskmouth Energy Storage to deliver a Battery Energy Storage Site at Uskmouth, announced separately yesterday, to repay the debentures and associated interest."

From:

Over a year ago.

Except

"extends the maturity date from 30 June 2023 to 30 June 2024 (the "Extension Period"); and"

From June:



Management are flimflam artists.

JakNife

[robertspc1] 24/7/2023 09:52

That's another chunk of cash to keep the company alive at least. They are trying to monetise the lease at Uskmouth but I suspect that is proving tricky with the interest rate situation. At least they deferred the debenture repayments by up to 12 months. Results due soon which will lift suspension. Still think they need an equity injection just a question of when and at what price

[skinny] 24/7/2023 07:24

Annual report in the next week then!

[skinny] 24/7/2023 07:02

SAE receives next payment for BESS project

Further to the Company's announcement on 23 February 2023, SAE is pleased to confirm that it has now received the GBP4.0m development premium from Uskmouth Energy Storage Limited ("UES"), as part of the arrangements that allow UES to deliver a 230MW / 460MWh battery energy storage system ("BESS") at the Uskmouth site.

This marks another major milestone in the delivery of one of the largest BESS projects in the UK and the unlocking of value for SAE and its shareholders.

Following the Company's update on 27 June 2023, SAE can also report that it is making good progress with finalising its audit and is on track to publish its Annual Report for the year ending 31 December 2022 later this month.

[robertspc1] 05/7/2023 08:19

Well the announcement came out. Brief as usual. I guess they will reveal more soon when the results are out