Simec Atlantis Energy Share Discussion Threads

[wheeze] 13/2/2025 18:32:06

Proteus is getting started. Hopefully this is the first of many...htTps://www.offshore-energy.biz/1-1-mw-tidal-turbine-hits-the-water-in-japans-naru-strait-gallery/

[wheeze] 10/2/2025 14:18:36

I would urge anyone considering an investment in Simec to have a read through this document- its rather long but will give you some idea of the potential of these large scale projects. htTps://www.policyandinnovationedinburgh.org/uploads/3/1/4/1/31417803/policy_and_innovation_group_uk_ocean_energy_review_2024.pdf

[robertspc1] 10/2/2025 08:57:20

Have you considered how much they have spent on the trying unsuccessfully to keep 4 turbines in the water. Thankfully they at least had the sense to let go of the turbine division. They also appointed advisers on Meygen later phases about two years ago. I think tidal has a future but SAE doesn't have the balance sheet to fund it

[robertspc1] 10/2/2025 08:56:16

Have you considered how much they have spent on the trying unsuccessfully to keep 4 turbines in the water. Thankfully they at least had the sense to let go of the turbine division. They also appointed advisers on Meygen later phases about two years ago. I think tidal has a future but SAE doesn't have the balance sheet to fund it

[wheeze] 10/2/2025 07:30:53

Not really true except for the debt. The technology is certainly not unproven- MeyGen has been generating since 2018 and has yielded over 50 Gwh of electricity since. It is both reliable and predictable. Theyve been awarded a CFD in rounds 4,5 and 6 and appear to be working on delivering towards this. They are without doubt the foremost tidal stream energy technology in the world. So no, not unproven.

[robertspc1] 09/2/2025 18:43:49

You have to be kidding. Meygen is mired in debt, massively loss making and needs hundreds of millions to scale up an unproven technology. Totally reliant on GBE getting up and running. Would happily see it sold for one pound

[wheeze] 07/2/2025 08:40:59

To take an opposing view, I believe that Meygen is the exciting part of the business. Scotland is leading the world in tidal stream energy- I don't think the debt will be allowed to cripple the project.Uskmouth on the other hand is the easy bit. Predictable. Safe. I for one look forward to Meygen's success. They have fought hard and deserve to survive. All credit to the current board.

[robertspc1] 02/2/2025 18:49:50

Different views are what makes markets work. 1. The point about pulling forward potential profits onto the balance sheet via Uskmouth revaluation is a valid one. But they must heavily discount the BESS project cash flows before doing this as the projects are still pre or in development. As they progress the discounts drop and the valuation will increase. 2. Meygen and proteus stake have very little value as there is substantial debt. I think a restructure is under way which should dilute SAE stake and remove the debt. 3. The Abundance debt is expensive and I think they will try and refinance this once BESS projects are live. 4. There is scope for a significant equity recovery ... but 16p is just plucking a number from the sky

[wheeze] 31/1/2025 16:35:40

My apologies to the board, I should not have risen to the 'bad investor' jibe.

[cwa1] 31/1/2025 16:17:27

Guys, how about we lay off the personal stuff please?

Let's debate the merits or otherwise of SIMEC and leave the comments about one another out.

Cheers

[wheeze] 31/1/2025 16:01:39

Lol JakNife, you are spending an awful lot of time on a board where you have no stake. Your cool is slipping JakNife. I can understand your frustration, you're seeing a company which you had convinced yourself, was heading for bankruptcy. You are probably caught out on the wrong side of a bet, and you call me a bad investor? You know nothing about my investments or for that matter my mathematical prowess. Like I said, your concern for grannies and old age pensioners fools nobody. Simec is going to survive, you heard it here first.Have a good weekend and try to forget Simec Atlantis. The company seems to be living rent free in your head

[jotoha2] 31/1/2025 15:48:55

Jackie , just keep thinking 16p , hopefully by then you will still be spouting your negative view of this little gem.

[jaknife] 31/1/2025 15:17:56

wheeze,

I'm not sure what you think that you're showing me?

I'm showing you the accounts that reveal a loss-making business worth diddly squat.

You're showing me a hope and a dream and a crowdcube funding that confirms that the business is loss-making ...

... they needed to raise funds to cover the losses that I've shown you!

Do you not even find it slightly ironic that they raised an amount of money almost exactly equal to the losses that they made in 2023?

This is why you're such a bad investor! You've put 2 and 2 together and have made 200,00,000! You can't even do basic maths!

BTW, I have made a typo in my original post, which I think that you meant to correct but then made the same typo, - I have changed 11% to 21% to avoid future confusion.

JakNife

[wheeze] 31/1/2025 14:43:33

...and here's some morehtTps://www.offshore-energy.biz/proteus-marine-renewables-hits-crowdcube-funding-target-for-its-tidal-energy-tech/

[wheeze] 31/1/2025 14:40:50

Sorry JakNife, you should really do some background reading before you post. This is just one bit of info re Proteus. Btw Simec has a 11% stake in Proteus MarineCollaborating with the aim to establish an Alliance with SKF and GE Vernova is a significant step in the commercialisation of tidal energy. Together, we have the capacity to deliver complete power systems using what will be the world's largest tidal turbines providing a cost-effective and truly sustainable solution. The commitment now from MeyGen for us to work towards execution of a £200 million+ EPC contract with them shows confidence in product and the delivery model, which will see us grow our team in Scotland and invest in assembly and manufacturing," added Drew Blaxland, CEO at Proteus Marine Renewables.

[wheeze] 31/1/2025 14:02:15

JakNife are you certain your desire to see this company end in bankruptcy is not being masked by your apparent empathy for grannies and pensioners who have been driven to penury by Simec Atlantis ? Somehow I struggle to believe you are here representing the interests of Age UK. Your frenetic posts which always surface when the share price moves up, makes me believe you have been caught on the wrong side of a spread bet. I think the Simec board has played a blinder. Their stake in Proteus Marine alone justifies the current market cap. Onwards and upwards. Best wishes with your position though I guess you will need to be very lucky with this call.

[jotoha2] 31/1/2025 13:16:04

Jackie , 1p to 2.3. is very nice for starters , and lots going on here so we are still looking at 16p in time , BESS will probably be valued above £200M within a couple of years , and chart of course is very Bullish.

[jaknife] 31/1/2025 10:03:44

jotoha2,

"Indeed , 16p still very much a realistic medium term target."

Have you actually thought through the numbers? On what basis do you get to 16p?

At 16p the market cap would be £115.6m (772.8m shares in issue, see:

For £115m you're buying a business that:

1. Loses a small fortune every year generating electricity,

2. Has a high cost base, partly from paying excessive rewards for failure to its board of directors,

3. Has material eye-watering outstanding debt, a large chunk of which was obtained by dishonestly telling old age pensioners that they were a green business, blah blah blah, and then not paying them back when they said that they would pay them back, and

4. Has a grid connection that the company has exploited once with a "BESS" project and which they would like to exploit again.

Only 4 is a positive number, 1, 2 and 3 are all negatives. And, because SAE's directors are skanky at the extreme, the directors have already capitalised the profits that they expect to make from 4 and added those profits to the balance sheet. Hence, when you look at the interim balance sheet, there is a line "Investment property - £49.5m" that represents all of the profits that SAE hope to make from future BESS projects:



Note 13 (page 56) to the annual report confirms this accounting treatment:



So the future profits that SAE might make from BESS projects have been assessed at £49.5m and capitalised on the balance sheet. From that you then have to deduct the losses that SAE make from 1, 2 and 3 for however many years that they intend to continue to:

1. Run a tidal wave business that has lost money every year since it was established and continues to lose money now but they run in any case because some shareholders like the idea of tidal power even if it is hopelessly loss-making.

2. Pay themselves stupid amounts of money.

3. Perhaps one day pay back the bonds that they mis-sold to the dear old grannies

In the interims SAE reported a loss of £6m. Absent any change to their business then, regardless of what SAE do with BESSs, SAE are going to report a loss of c. £6m pretty much every six months. And that's because they've already recognised the profits that they hope to make from the BESS projects in the 2023 annual accounts. Who would have thought that accountants would let you do something so skanky as that?

A more sensible price target is zero!

JakNife

[jotoha2] 30/1/2025 16:23:51

Indeed , 16p still very much a realistic medium term target.

[robertspc1] 30/1/2025 16:04:21

Slowly but surely the equity recovery is underway. Plenty more to come especially when Meygen gets restructured