Simec Atlantis Energy Share Discussion Threads

[wheeze] 26/9/2024 06:14

RNS of interim results SAE received £7.0 million from the land sale contract with EL (Uskmouth) Ltd· SAE acquired 100% ownership of the AW1 120MW/240MWh Battery Energy Storage System ("BESS") project· SAE submitted a planning application for Section 36 consent for the 300MW/1.2GWh "Mey BESS" project in the North of Scotland.· The consolidated cash position of the Group as at 30 June 2024 was £7.7 million (as at 30 June 2023: £2.3 million)· The Group reported revenues of £12.1 million for the six months ended 30 June 2024 compared to revenues of £12.4m for the same period in 2023· The loss before tax of £6.0 million for the six-month period to 30 June 2024 (H1 2023: profit £4.5 million) was largely a result of the profit on the land sale contract with EL (Uskmouth) Ltd having been recognised in 2023 whilst the revenue from the sale was realised during 2024.

[robertspc1] 25/9/2024 22:27

Clock is ticking on Meygen restructuring as debt repayments due in Nov. I'm expecting a recapitalisation with new corporate and GBE investment leaving SAE as a minority share holder. Might take a while as complex with many stakeholders but SAE will hopefully emerge as a cleaner focused business without the debt overhang

[jaknife] 25/9/2024 13:46

jotoha2,

re your post 3309 and our agreement to review this on a quarterly basis:

"Oh dear jackwang is back spouting his rubbish , should of bought some last time you were here !"

see:

I mark this currently as a nil score draw. It's down 0.05p vs the 2.25p reference price but it's not enough for either party to crow.

See you in three months.

JakNife

[robertspc1] 03/9/2024 11:40

Simec shouldn't go bust as deferred the bond repayments etc. Meygen is a different matter as debt repayments due imminently. But debt is non recourse to SAE luckily

[wheeze] 03/9/2024 09:11

Meygen is a visionary engineering project the likes of which we are sadly lacking in the U.K. it is not possible to achieve this without incurring debt unless the government decides it is a worthwhile investment. I believe Simec was priced to go bust - this news should lead to a significant re-rate

[jotoha2] 03/9/2024 09:10

Looks like Labour have done the usual , lots of promises but little action , GBE now have to come good with some real investments ( cash ) to get them of the hook.

[robertspc1] 03/9/2024 08:39

Whilst further CFD support is helpful Meygen remains a problem child for SAE. Meygen has significant debt, some repayable in November, needs serious capital investment to expand and proper supply chain partners. I expect SAE will become a minority shareholder as GBE and others recapitalise Meygen.

[skinny] 03/9/2024 07:44

We can but hope!



Graham Reid, CEO of SAE Renewables, commented:

"The scale and opportunity that MeyGen represents for the industry the supply chain, our stakeholders and the wider United Kingdom, is significant and we will work with all involved to ensure its success."

[mdchand] 03/9/2024 07:37

Can SIMEC survive until these cfd contracts kick in?

[1choip] 29/8/2024 08:31

Budget cutting means dooooom

[wheeze] 21/8/2024 10:05

Another BESS application underway at UskmouthhtTps://documents.newport.gov.uk/PublicAccess_LIVE/Document/ViewDocument?id=408274235FA245D584E9AC1ACF34A25F

[wheeze] 16/8/2024 10:04

Economy Mark SAE is pleased to announce that the London Stock Exchange has provided it with the Green Economy Mark. The Green Economy Mark, first introduced in 2019, was created to assist investors in identifying an investible universe of 'green economy' equities. The Green Economy Mark identifies companies and funds, admitted to the London Stock Exchange's markets, that generate 50% or more of total annual revenues from products and services that contribute to the global green economy.

[1choip] 08/8/2024 07:56

Mr, doom predict 3.2 or higher.

[jotoha2] 07/8/2024 08:31

5p first target then 7.5p gap to fill , and then the ride to 17p nice.

[wheeze] 07/8/2024 08:22

the situation is no different from a company exploring and drilling for oil or gas. The initial costs are massive- these companies have deep pockets hence they are able to survive, unlike Simec which has to borrow. Mismanagement and going down a rabbit hole of plastic pellets has been costly to shareholders. I'm guessing Meygen will get a boost from the push for renewables

[robertspc1] 07/8/2024 08:15

Progress yes. But Meygen has 45m of debt due for repayment in the next three to five years. Absolutely no prospect of it generating enough cash to repay anything. Management need to remove that issue somehow otherwise the equity will remain distressed

[jotoha2] 07/8/2024 08:10

The company is moving forward , the potential for serious profits is now in place , debt will be reduced in time , now just watch for news for Maygen , Bingo!

[robertspc1] 07/8/2024 07:20

You forget the debt. SAE c15m and Meygen c45m. That's why the equity is lowly rated

[wheeze] 07/8/2024 06:50

Apologies, hit the submit button too early- was going to say todays RNS outlines costs of BESS and potential income:According to the Company's latest estimates, the BESS project will generate average annual revenues of £12m and annual average EBITDA of £9m per annum in its first five full years of operation. The estimated capital cost of the project is £65m, which includes the deferred consideration and transaction costs.

[wheeze] 07/8/2024 06:47

BESS at Uksmouth and Meygen up in the Pentland Firth. Two mammoth engineering projects helping to achieve this nations green energy goals. Surely worth more than current market cap of 16 million? Time for a re-rate I believe.

[jotoha2] 06/8/2024 12:45

Now what would be interesting if BP or Shell decided to invest directly into SAE for both Battery storage and Tidal, now that would cause a bit of action for all concerned.

[robertspc1] 06/8/2024 11:34

Interesting new financing structure for BESS. Penso Power signs 7 year tolling agreement with Shell for 330MWh battery project. Might offer a route for SAE to accelerate their projects whilst managing cash

[hamidahamida] 01/8/2024 01:39

AGM Special Resolution 7To authorise the directors to allot and issue equity securitiesConfetti party in the pipeline

[robertspc1] 31/7/2024 21:28

Meygen needs a new sponsor with deep $$$ pockets to fund the expansion plans. SAE doesn't have the balance sheet to invest any further money. Given the debt profile of Meygen I think it would be better for SAE to sell its interest and focus on the BESS opportunity at Uskmouth and Mey. Question is would anyone buy Meygen