Simec Atlantis Energy Share Discussion Threads

[skinny] 17/12/2021 08:21

It does stick in the craw - just look at the chart!

"The options have an exercise price of 2.21p based on the average market price over the 5 days prior to the date of grant plus 15%, and will be exercisable for a maximum period of 10 years"

[our haven] 17/12/2021 07:34

2.8 percent of the share capital granted to the directors and senior employees seems extraordinary generous especially as there are no performance objectives built into the grant. I would have expected much less to be granted and only exercisable when meaningful targets are met.The only target here is that they keep drawing a salary.

[robertspc1] 16/12/2021 17:27

They pretty much had to sell GHR to fund the interest payments due on their Bonds at 31 Dec. Said before no equity value given the debts IMHO

[volsung] 16/12/2021 12:10

Mr Chung says it's worthless dung
But we'll be here until the fat lady's sung

[our haven] 16/12/2021 10:51

Clabburn. The site would be ideal for large flow battery storage, you could be on to something.

[clabburn] 16/12/2021 10:22

Im also pleased to see them talking about a plan B for Uskmouth. It strikes me that we may be better off giving up on the idea of burning plastic pellets, knock the place down and replace it will a massive battery that can make use of the grid connection and existing infrastructure.

[clabburn] 16/12/2021 10:15

They will continue to need cash. Hopefully the next fund raise will come after the CfD process completes and they have a contract in the bag. The options available will be vastly better then. Until then, there are still debt payments to make and salaries to pay.

[ken chung] 16/12/2021 07:49

It's worthless dung.

[aimbagger] 16/12/2021 07:49

Having just raised £3M from the sale of GHR, I'd be surprised if they're talking about a placing but who knows.

[ken chung] 16/12/2021 07:48

Lost £10.7m in the last 6 months due to reliabity problems with three of the four tidal turbines, which had to be stopped and lifted out for repair and the crane couldn't even do the lift properly. Raises serious reliability issues about the tech. In addition they are still out of action by the sound of it today, so expect truly huge losses for the current six months and they ar desperately now having to reduce staff levels to try to save money it's really that bad.In desperation had to sell a profitable subsidiary for pennies just to keep going for a few more months. Lots more dilution coming and maybe death spiral funding. Meanwhile Uskmouth may never happen or is still a long way away at best. The only thing this company really seems to sell at present is confetti shares!Lemmings and mushrooms only.

[david gruen] 16/12/2021 07:31

Of course they are, they're committed to sustainability of our planet, and SAE.

I'd see a head-doctor if I were you Dave.

[dave4545] 16/12/2021 07:28

All sounded great until that last line

"the Board is considering a range of further funding options"

[david gruen] 16/12/2021 07:18

16 December

SIMEC ATLANTIS ENERGY LIMITED

("SAE", "Atlantis", the "Company" and, together with its subsidiaries, the "Group")

Company Update

Uskmouth update

SAE is engaging with Welsh Government on the application to vary our existing environmental permit for the Uskmouth power station. Having gone through the process with Natural Resource Wales (NRW) and demonstrated that the conversion will be fully compliant, SAE looks forward to providing all the information to Welsh Government to allow it to make its decision. SAE is working with Welsh Government to understand the timetable in which a decision can be made.

SAE is exploring opportunities to best extract value from the Uskmouth site which could be complimentary to the conversion or stand alone. The options being considered are primarily forms of renewable energy generation which make use of some of the existing infrastructure, available land, and grid connections. The options being considered are in-line with UK and Welsh Government policies.

International opportunity

Following agreement at COP26 to the phasing down of coal usage, the opportunity for the conversion of coal fired power stations to fuel pellets is significant in accelerating and supporting this global transition. SAE is working with its partners to identify further opportunities internationally where this exciting solution can be quickly deployed.

Tidal update

In November 2021, SAE entered into a collaboration agreement with fellow world leading tidal energy developer, Nova Innovation. The agreement will see the companies work together to deliver tidal turbines at the MeyGen site and beyond.

SAE and Nova are the two leading players in tidal stream energy and operate the world's first offshore tidal array (installed by Nova in Shetland in 2016) and the world's largest tidal array (the 6MW MeyGen phase 1 project developed by Atlantis in the Pentland Firth, which includes the world's most powerful tidal stream turbines). SAE and Nova have delivered over half of the tidal stream devices operational worldwide and are developing sites in the UK, Canada, Japan, and France. Both companies deploy subsea turbines which generate predictable, renewable power with no visual impact.

SAE and Nova welcomed the announcement by the UK Government to put a dedicated budget in place for tidal stream energy in the upcoming Contracts for Difference Allocation Round 4. This signal of support is a welcome boost to the industry.

MeyGen Operation

SAE continues to work on the re-deployment of the three turbines, out the water for maintenance, at phase 1 of MeyGen. The re-deployment of one of the turbines was set back following a crane failure on the vessel being used for its re-deployment. SAE is working with the vessel operator to determine the next appropriate time for deployment. SAE is working with stakeholders to ensure the remaining two turbines can return to operation as quickly as possible. The operational fourth turbine continues to exceed expectations and demonstrates the viability of tidal turbine technology.

Financial update

The Company has put in place actions that will materially reduce headcount and monthly operating costs. The impact of these actions will be seen in our financial year commencing 1 January 2022. Cash proceeds from the disposal of GHR, announced on 13 December 2021, combined with the reductions in operating costs, provide the business with the working capital headroom to deliver on the opportunities for value from the Uskmouth site noted above and to deliver on further project opportunities. Both activities are important for further necessary cash generation during 2022.

The Company noted in the announcement accompanying the Group's half year results on 28 September 2021 that the business remains dependent on external financing to develop it key projects. In combination with the opportunity to deliver value from the Group's assets, the Board is considering a range of further funding options.

[aimbagger] 15/12/2021 20:56

SAE have put forward part two of its MeyGen project (the "largest consented" tidal project in the world) into allocation round four (AR4) of the Contracts for Difference (CfD) scheme which opened on 13 December 2021.https://www.energyvoice.com/renewables-energy-transition/wave-tidal/321076/simec-atlantis-to-enter-meygen-into-cfd-allocation-round-four/

[dave4545] 15/12/2021 12:20

Great online spread though 1.836-1.844p

[dave4545] 15/12/2021 11:23

Forget trading ?

Lets see, paid 1.35p and 1.47p, sold for 1.92p, bought back at 1.64-1.65p and sold for 2.1-2.15p and bought back for 1.82p

There's so much hot money piling into spikes and out again you have to play them at their own game, when they are bored or impatient selling way lower than the highs you buy and when they are chasing a big spike you sell.

But I always keep a few incase it just takes off in one huge spike

[skinny] 15/12/2021 11:19

.

Business and Energy Secretary Kwasi Kwarteng said:

"Our biggest ever renewables auction opening today will solidify the UK’s role as a world-leader in renewable electricity, while backing new, future-proof industries across the country to create new jobs."

"By generating more renewable energy in the UK, we can ensure greater energy independence by moving away from volatile global fossil fuel prices, all while driving down the cost of new energy."

[dave4545] 15/12/2021 08:50

Bit of a overhang can buy at 1.836p still but when overhangs clear in this the price spikes and the chase herd pile in, good for trading

[david gruen] 15/12/2021 08:29

No brainer from these levels once the context changed.

[aimbagger] 15/12/2021 08:28

Buyers returning at this level. Weekly and monthly buy signals still active.tidal energy being a government focus with £300M funding over 15 years to try and hit targets should propel the industry northwards. Another £3M in the bank selling GHR to focus on core projects.

[clabburn] 14/12/2021 07:36

Good news about the sale. The mini hydro business was never going to scale and this should be enough to see them through to a CfD win.

[aimbagger] 14/12/2021 07:18

A further 80MW coming at MeyGen?Https://twitter.com/aim_bagger/status/1470654152132993030?s=21

[tenapen] 13/12/2021 19:59

chung - the Troll who has Bashed Powerhouse energy all the way UP from 0.5p to c4p today.

YOU SHOULD HAVE BOUGHT A FEW YOU


hahahaha

[ken chung] 13/12/2021 09:42

Lost £10.7m in the last 6 months due to reliabity problems with three of the four tidal turbines, which had to be lifted out for repair. Raises serious reliability issues.

In desperation had to sell a profitable subsidiary for pennies just to keep going for a few more months. Lots more dilution coming. The biggest thing this company seems to sell is confetti shares!

Lemmings and mushrooms only.