Simec Atlantis Energy Share Discussion Threads

[tempesttroy] 30/9/2020 07:17

Brilliant...I suspect this update won't do the share price any harm either. Great post & thanks for sharing.

[skinny] 30/9/2020 06:05

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Trading Statement

The first six months of 2020 have seen significant global economic and social challenges as a result of the COVID-19 pandemic. Despite these challenges, we have maintained a high level of activity across each of our business units and we continue to see encouraging progress on all key projects notwithstanding all of the logistical and workplace challenges COVID-19 social distancing restrictions present. In particular, we note the major technical, planning and commercial milestones that have been achieved recently on the Uskmouth power station conversion project in Wales, our recent entry into the NPA Fuels joint venture with the N+P Group, the performance from the MeyGen project in Scotland and the recent over-subscribed equity placement in August 2020.

Financial summary

The overall loss before tax of GBP6.1 million for the six months ended 30 June 2020 was almost half of the loss of GBP11.8 million reported for the same period in 2019. This improvement is largely attributable to strong revenue contributions generated by the Atlantis tidal turbine and engineering services division, together with good performance from the MeyGen project in Scotland. Six months of revenue contributions from GHR added to the improved performance relative to 2019. Overall, costs were in line with expectations with significant contractors' costs being incurred in delivery of the subsea hub project and the AR500 turbine for Japan, as well as the ongoing Uskmouth operational costs.

Depreciation, as expected, has remained stable and is being driven by Uskmouth and MeyGen.

Finance costs in the current period are materially in line with the same period last year and also included five months of the GBP3.79 million Abundance bond raise, which closed in February 2020.

The unaudited consolidated cash position of the Atlantis Group at 30 June 2020 was GBP9.8 million.

Tim Cornelius, Chief Executive of Atlantis, commented:

The impact of COVID-19 on our business, society and personal lives cannot be underestimated and we have all had to find new ways to work and to live. I am immensely proud of all the team at Atlantis who have ensured that during these unprecedented times we have continued to make material progress on our important portfolio of projects, where we connect carbon cutting projects with industries looking to ensure that they can reduce their carbon intensity and be at the forefront of the green agenda.

Each of our business units, being tidal energy, hydro power and power station conversions, have delivered exceptional performance under challenging conditions.

The full Interim Report will be available to download from the Company's website today.

[postme] 29/9/2020 19:57

BROKERS name aim top picks -

[brucie5] 29/9/2020 19:52

As a holder I can only observe that chart patterns tend to repeat:look at how the initial June spike fell to beneath the previous high before recovering and then spiking still higher. On that basis we could see a drop to 17-20 before recovery. Bulls might want to add or trade that low
Meantime we just have to hang on for news.
Aimho of course.

[tempesttroy] 28/9/2020 14:22

Yep, I agree. This is such BIG news in S.Wales that NRW need to be seen as being utterly thorough with their review of the application. No doubt there will be a number of environmentalist organisation/s to pacify post permit? So, perhaps not that surprising they're continuing to ask for further information? It may go on for a little while longer yet until NRW are completely satisfied. share price still quite volatile despite the reduction in share transactions but, like you, not too alarmed at this stage as I am still very much expecting a positive outcome to the EP.

[clabburn] 28/9/2020 13:41

An update from NRW posted today indicating more info needed unfortunately, this time asking for details on fire mitigation measures. Sounds routine enough but will extend the timeline by at least another month I would imagine.

[x54v] 25/9/2020 15:28

A flurry of buying into the close.

[wheeze] 25/9/2020 10:58

I have added as well. These prices cannot hold for much longer.

[clabburn] 25/9/2020 10:03

Today is the deadline for SAE returning responses to the final queries from NRW so Im hopeful we will move into the next stage quite soon now. Will need to see if NRW have any further follow up questions but Im assuming today's submission will be the last bits of info they need in order to make a decision. How long that will take is anyone's guess but my reading is that the most contentious parts have already been addressed so we should move quickly from here. Perhaps 2-3 weeks for NRW to make their decision, then a period of consulting on that decision before hopefully issuing the variation permit late late November maybe. Im not worrying about the recent share price movement - all Covid-related in my view - and will be quickly corrected if and when there is positive news from NRW.

[actybod] 23/9/2020 07:32

Struggled to get a quote this morning but added

[x54v] 23/9/2020 07:10

Myles McNulty taking advantage of the pullback and loading up again:

"Yesterday, added to LT investment, #SAE @simecatlantis.

The Co's two brokers, Investec and Arden, have base case TPs of 75p and 76p respectively.

It's a rarity (as house brokers are usually far too bullish!), but personally I think that these TPs are extremely conservative. 1/3"

[gbjbaanb] 22/9/2020 23:56

From the BBC article:

"As we pursue this exit from the new build coal power market, we will continue to support our customers, helping them to keep their existing plants running in a cost-effective and efficient way with best-in-class technology and service expertise."

Oh. Really now. I wonder if there are any companies who have technology to keep existing coal plants working with, say, different fuel...

[tempesttroy] 22/9/2020 22:15

For what it's worth, I'm holding on. Not buying & certainly not selling. I truly believe we investors have backed a real winner in SAE. I feel sure that it won't be long before we will have our day. Remembering the MM's cannot influence the NRW EP decision and any positive news here likely to significantly impact the share price Each to their own but I won't be crystallising my stockholding any time soon in this fundamentally sound & exciting company bang on trend.

[candlestick1] 22/9/2020 13:13

Got an order in for 19p; not overly confident it will get filled but always worth a shot!

[tempesttroy] 22/9/2020 12:25

SAE very cheap! Mate of mine just bought 4k. For us, its a case of holding nerve to reap longer term results. Onwards & upwards!

[clabburn] 22/9/2020 10:01

Agree - this is just another round of Covid-triggered profit taking. Im not worried in the slightest and am looking out for bargains to buy during the dip. In 6-12 months once the share price has re-rated small movements of 5-10p will feel very trivial.

[gbjbaanb] 22/9/2020 00:41

You're right, it's all down to government incompetence (or sheer corruption by vested interests being handed very sums to produce vaccines) at handling the virus.

[tempesttroy] 21/9/2020 22:42

Chaps, I doubt today's hit to share price is due to anything being amiss. Fundamentally, nothing much has changed apart from Covid 19 being raised from level 3 to 4 and the nervousness that brings to the markets which have been well n truly spooked today. It felt like the share price was being suppressed before today's announcement & subsequent reactions. I expect we'll continue to see more volatility in the coming weeks but we should all hang in there. I'd be interested to hear any other views?

[clabburn] 20/9/2020 20:08

Just to add, there are still a few queries outstanding from the recent Schedule 5 request and Atlantis need to return responses by 28th September. The biggest issues were addressed last week but there are still a few more responses they need to submit. Im assuming that will be the final request for information that NRW ask for and they will take a few weeks to make their decision during October. This is very much an estimate. A bit more patience required!

[tempesttroy] 20/9/2020 18:29

Rogerramjett, I think you're just about on the button there. EP will be the key milestone to achieve. Like you, I thimk were a good 6 weeks away which we will await with bated breath no doubt. Planning Permission for the silos etc will be the next milestone but this should be more of a formality considering it's a brownfield site. While nothing can be taken for granted with this project, I remain optimistic for a positive outcome. It will really benefit the local economy as well which is a quite a spin off benefit in these uncertain times.