Simec Atlantis Energy Share Discussion Threads

[babbo1] 07/6/2020 09:27

Hyper AL
Thanks for the response

[thefartingcommie] 06/6/2020 09:10

looks interesting....

what is the investment case here.....apart from ticking many of 'green agenda' boxes?



FINANCIAL HIGHLIGHTS


The consolidated Group cash position at 30 June 2019 was £5.1 million (31 December 2018: £9.3 million), including £1.8 million held at MeyGen Limited (31 December 2018: £2.4 million).


Revenue of £2.0 million in the period (2018: £1.3 million), the majority from MeyGen power sales.


Group loss before tax for the period of £12.4 million (2018: £9.1 million). The £3.3 million increase relates mainly to the consolidation of SIMEC Uskmouth Power ("SUP") from 15 June 2018.


Group total equity at 30 June 2019 was £117.6 million (31 December 2018: £119.6 million).


In March 2019, an equity fundraising raised over £5 million, before expenses, the net proceeds are being used for the Group's general corporate services.

[mdchand] 05/6/2020 14:30

Ahhh - well Myles has a good investment track record (he copies me basically lol). Be interesting to see if these gains hold or apathy will set in and people start getting bored.....

[walter walcarpets] 05/6/2020 11:37

Myles Mcnulty

[mdchand] 05/6/2020 11:34

Burst of private buying today. Has this been tipped anywhere?

[wilc42] 03/6/2020 17:03

I hope so as well. Lots of ifs and buts. But we now live in a world of people trying to second guess, the second guess.

[pugugly] 03/6/2020 15:37

Remember this has be around for years and years - Danny Forton was writing it up in the Sunday Times 12th April 2009 - tidal project in the Pentland Firth supplying a Data Farm (project to be built) So a long and hard road travelled - Is there light ahead??



nb Above link may already have been posted.

[clabburn] 03/6/2020 12:23

Let's hope so! I have been here before though with this stock and wouldn't be surprised if these gains drift away over the next few days. That said I've just added a chunk to my holding. Very bullish article from the CEO in The Energyt yesterday which I think has driven this price rise. Positive news from fuel testing in Japan could help push this on further. GLA.

[duwendag] 03/6/2020 11:46

At last things are happening, onward and upwards

[clabburn] 02/6/2020 14:55

Possible but Im not sure they have the credentials to raise the type of money needed for the conversion from equity alone. It would dwarf their next biggest equity raise and would be very dilutive for share holders. Project finance more likely in my view with some sort of infrastructure fund as a partner. Equitix were previously lined up but not sure if they are still in play. I have funding as the biggest hurdle to clear but if the fuel tests in Japan go well and they get the necessary planning and environmental consents it should be a safe enough bet. Will certainly be a very interesting six months.

[jotoha2] 02/6/2020 08:29

New Broker , could it be a fundraise to follow ? Will watch with interest .

[jotoha2] 29/5/2020 18:29

Thank you , very informative , if it looks good will start to buy .

[clabburn] 29/5/2020 15:44

I cant remember seeing them laid out anywhere in the clear way you describe but I do remember looking closely at the PPA prices when they acquired the project and they implied extremely healthy returns. The contracts were very cleverly structured between Atlantis (the generator), Liberty steel (the purchaser) and N+P (the fuel supplier) so that it was a win, win, win for all involved. In a nutshell and if I understood the deal properly, the fuel is cheap because N+P get paid for taking in the raw waste so dont need to charge much for the subcoal to make their model work - a new customer of this size also has potential to transform their business, Liberty get a firm supply of power for their steel mill, hedged at a rate close to wholesale power prices reducing their exposure to risk and Atlantis get long-term revenue certainty and a chance to dramatically grow their balance sheet and revenue lines. I thought it was a great structure but relied on all three elements working and all are relatively young companies. N+P have to prove themselves (hence the tests going on in Japan at the moment), Liberty need to survive the current economic turmoil and Atlantis need to get the development through and secure financing. If they do all this the value generated for share holders will be fantastic and Im optimistic that all the pieces are coming together now. I think the enterprise value was also estimated when Equitix were mentioned as a funding partner putting it in the region of £120 million. Conversion costs will be something like £180 million from memory. It's all there on the website though if you search through past announcements. The documentation that was published for the last round of crowd funding on Abundance may be worth checking as well and may have the numbers you are looking for.

[jotoha2] 29/5/2020 14:59

Has the company ever published any figures on turnover and expected margins for Uskmouth project ? And what will be the expected capital spend to get it over the line ?

[clabburn] 29/5/2020 14:26

Thanks. Skimmed through the docs earlier today. All looked promising to me but it adds another hurdle to be cleared (local authority planning consent) that I wasnt previously factoring in as well a bit more slippage to when they can reach financial close. My list of the remaining barriers to clear stands a bit like this: 1) Fuel testing in Japan (underway) 2) Environmental permitting with natural resources Wales (underway - should be fine) 3) Local authority planning decision (today's news) 4) Securing project finance. All still feel on track to me but the 4th one is key. They will need big money for this project on a different scale to anything they have done before (including Meygen). Hopefully investor patience will be rewarded in 6 months or so. The share price should accelerate massively if they make it over the line. I have 50p in mind but 80p or 100p wouldnt be out of the question either. More if the CfD review put the tidal business in the UK back in play.

[llef] 27/4/2020 15:28

A tidal stream turbine has been installed off the Chinese coast, with work on the project taking place against the backdrop of the coronavirus pandemic.

The 500-kilowatt tidal stream turbine, which has a rotor diameter of 18 meters, was installed in the past week in the Zhoushan archipelago off China’s east coast.

SIMEC Atlantis Energy (Atlantis), through a partnership with ITPEnergised, worked on the scheme in China with The China Shipbuilding Industry Corporation (CSIC) and China Three Gorges.

[clabburn] 27/4/2020 12:33

If the Newport steelworks closes then Uskmouth conversion will probably fail too so it's a risk for investors in Atlantis. For what its worth I think they will ride this out. Government may need to help but the Liberty steel business is the real deal. The FT have been pursuing a bit of a witch hunt against Sanjeev Gupta for a while though and I worry that some of the mud may have stuck.