Simec Atlantis Energy Share Discussion Threads

[mdchand] 25/6/2024 07:45

I think the uplift in NAV was the trigger today.

[jotoha2] 25/6/2024 07:44

Very nice , now lets get it to 10p in short time.

[tomboyb] 25/6/2024 07:25

Should smash past 2p -

[tomboyb] 25/6/2024 07:23

Bought quite a few -

[wheeze] 25/6/2024 07:08

This was priced to fail. Market cap of 10 million quid was ridiculous. I am interested to see where the share price settles. A few margin calls will be made today.

[wheeze] 25/6/2024 07:03

Some shorts closing out ?

[skinny] 25/6/2024 06:40

Duncan Black, Chairman of SAE Renewables, commented:

"I am excited about the future for SAE. We have the funding and visibility on future revenues we need to be able to deliver our development projects and service our debt. We have a pipeline of projects that would be the envy of many much larger companies, and we have a Board and Executive team who have a track record of successful delivery. I would sincerely like to thank all the members of our team whose hard work and dedication during the past 12 months has delivered outstanding results for SAE. To the stakeholders in our projects, bondholders, shareholders and governments - thank you for your continued support of our business."

Graham Reid, Chief Executive Officer of SAE Renewables, commented:

"During 2023, the business has met or exceeded all of its objectives. This provides a great platform from which we can embark on our new strategy: Building a Sustainable Future to 2035, advancing our transition towards becoming an Independent Power Producer."

[skinny] 25/6/2024 06:40

.




2023 Financial Highlights include:

· The Group reported a profit of £23.2m, compared with a 2022 loss of £11.1m.

· Increase of 292% in Group revenue to £15.3m (2022: £3.9m).

· Revenues available to the Group, which excludes ring-fenced revenue earned by the MeyGen tidal array, rose to £10.7 million (2022: £nil) . The sale, at Uskmouth, of a ready-to-build 230MW BESS project with a grid connection for £10.0 million accounted for the majority of 2023 revenues, with the balance of £0.7 million being rental income from the Uskmouth site.

· Net Assets increased 678% to £44.2m (2022: £5.7m). The major increase in the valuation of the Group arises from the reassessment of the value and size of our battery storage projects.

· Increase in EBITDA to £8.3m (2022: EBITDA loss of £5.8m).

· Reduction of 30% in SAE's Group debt, excluding MeyGen debt, to £13.7m (2022: £19.7m). This followed the successful execution of the lease agreement for the 230MW BESS project with Uskmouth Energy Storage Limited. SAE also reached an agreement with its bondholders to rephase bond repayments out of 2024 and into periods commencing in December 2025 and culminating in a final £7.7 million repayment in December 2029.

· Reduction of 29% in Operating costs to £5.0m (2022: £7.0m).

Operational highlights include:

· Final payment received on 230MW/460MWh Uskmouth Battery Energy System Storage (BESS) projects, now under construction by Uskmouth Energy Storage Ltd.

· In December 2023, signed conditional land sales agreement with Electric Land for £9.9 million for the 230MW BESS. Milestone income to be received during 2024 and into 2025.

Post-period highlights

· Achieved planning approval for a new 120MW/240MWh BESS which repurposes the site of the Uskmouth power station former cooling towers.

· Commenced development of an additional 600MW/1,200MWh of BESS at the Uskmouth site.

· Submitted the planning application for the Mey BESS project, near Caithness in Scotland. SAE has an agreement option to lease the required land and has secured a modification of the MeyGen grid connection to increase capacity to 287MW with full import and export rights.

[wheeze] 25/6/2024 06:35

Good results, should be the turnaround point for this company. Ties in nicely for a solid investment from GB energy if and when this launches

[pharmaboy3] 25/6/2024 06:05

Nice results. Feels more solid,long-term bizSIMEC AtlantisEnergy - Final results #SAE @atlantisresplc HTTps://www.voxmarkets.co.uk/rns/announcement/27f8c954-f3db-4ce3-9ded-5365a5a08c61 #voxmarkets

[jotoha2] 13/6/2024 10:29

We shall see , sae has come of the bottom and is now climbing , 50% increase in price so far , and once GBE is handing out the cash this little dog will fly 3/5/10p enjoy yhe ride.

[robertspc1] 12/6/2024 21:44

Wall st is a mugs investor rag based on nothing.

[jotoha2] 12/6/2024 07:03

This company's share price should be 17p as quoted by Wall St , enjoy the ride.

[robertspc1] 11/6/2024 21:56

On what basis are you throwing these price targets around. Uskmouth maybe worth roughly the debt here. Meygen value anyone's guess hence the poor equity valuation

[jotoha2] 11/6/2024 14:21

3p target nicely in place , then should bolt through to 5p with ease, some idle chatter that Uskmouth is being lined up for more serious investment .

[robertspc1] 11/6/2024 11:37

Looks like a buy given the earlier sells were at .95p. Another piece of good news and it at least sounds like they have a bit more confidence in Meygen expansion.

[jotoha2] 11/6/2024 11:36

Looks like we have boom boom Bingo here.

[wheeze] 11/6/2024 11:30

I find it fascinating that the RNS lands at 1143 and almost by magic a 250000 sell is placed at 1145, unless of course this was a buy ?

[wheeze] 11/6/2024 11:28

Application for up to 300MW / 1.2GWh Scotland BESS project SAE is pleased to announce that it has submitted an application for Section 36 consent to the Scottish Government's Energy Consents Unit for a battery energy storage system ("BESS") project of up to 300MW, sized for up to 4 hours duration (1.2GWh). The project, named "Mey BESS", will be located inland, 5.5km southwest of SAE's MeyGen tidal project, 0.5 km southeast of the village of Mey in Caithness and located adjacent to the planned and fully consented SSE Gills Bay 132kV substation project. SAE has secured all the necessary land rights and 287MW of both import and export grid capacity to allow for the BESS project to be built. The grid capacity is planned to be shared between Mey BESS and the Company's MeyGen tidal array with 207MW being utilised exclusively for BESS and the balance of 80MW secured for the expansion of the MeyGen tidal stream project. The consent application is sized at 300MW to allow for further expansion from 207MW to 300MW which would be subject to future grid applications. The grid connection and all infrastructure is consented and ready to be built, with an anticipated completion of April 2027. It is expected that the Mey BESS project will initially be built using 2 hour duration batteries to give an output capacity of 414MWh, with the site layout sized in the planning application to allow for expansion using 4-hour duration batteries of up to 300MW/1.2GWh. The development rights in the project are held by Mey Energy Storage Limited, which is owned 84% by SAE and 16% by Scottish Enterprise. SAE have significant presence and operations experience in the local area, having been operating the MeyGen tidal array in Caithness for many years. The dedicated project page will be available at: www.saerenewables.com/mey-BESS .RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END MSCGPUWCQUP

[robertspc1] 06/6/2024 13:05

Some Directors Talk interviews up soon according to the company's LinkedIn feed. Finally some exposure to management

[jotoha2] 06/6/2024 12:31

Nice to see we are moving at last .

[robertspc1] 06/6/2024 12:00

Results due before end of June. Maybe they will finally provide an update on Meygen

[robertspc1] 06/6/2024 10:41

GBE website lists three initial priorities. First is co investing in new technologies. GBE will help speed up and scale the deployment with public investment helping to crowd in investment in areas like floating offshore wind, tidal power and hydrogen. A Labour win will certainly help Meygen expansion get funding. And it sure needs help

[jotoha2] 01/6/2024 09:18

If they do put 8 Billion into the pot then lots of positive news to follow here.