The Lemon Fool

Flagged up by Hallucigenia here https://www.lemonfool.co.uk/viewtopic.php?p=502575#p502575 that Simec SAE are to build a major battery plant at Usk.
Previously focused on tidal turbines, they are branching out.
https://www.lse.co.uk/rns/SAE/sae-signs-16340m-contract-for-battery-project-yq1sk74j8c8j0oo.html

After many bumpy years in which the SP has descended like a deflated haggis, perhaps their moment has come.
Provided they can service their not inconsiderable debt.
https://www.lse.co.uk/rns/SAE/request-to-amend-debenture-deed-x62enpprexxzto1.html

I hold. Like the turbines, well underwater.
But having said on that other thread that I'm not going to add, maybe I will.
YOLO.

V8

OK, so I just increased my position by 3,200%.
Yes, you read that correctly.
YOLO

V8

I don't think it would cost very much to increase my holding a similar amount.

But history has warned me off. This is a management team that has ambitious fingers in far too many pies: the sort of thing that might work if you have the market cap of SSE, but not a small cap (why for example did Atlantis get into bed with Sanjeev Gupta's big dirty-energy project, completely unrelated to Atlantis' business)?. And small investors have been treated as cannon fodder again and again when they've raised funds.

I have more recent tidal energy investments in a couple of startups, and am more likely to top those up.

To be fair, I don't think they're doing much more than taking rent on a project which wants to use the grid connection at their latest failed project.

But hey - the problem with Atlantis was that they were competing for subsidy with offshore wind which got "too" cheap too soon. Be interesting to see what happens in the next round.

Three years ago the SP reached the heady heights of 30p, but following publication of the annual results, it has become a veritable penny share.
Losses due to write-downs, cash burn, asset sales.... can they service the debt, is it even a going concern.

Not easy, being a green tiddler and at the behest of government whims.

https://www.lse.co.uk/rns/SAE/final-results-8w21726ohaj5xh8.html

A buying opportunity if one is very brave.

V8 (who has mislaid his bravery down the back of the sofa)

So in the latest CfD round, Atlantis got 28MW at £178.54/MWh - meanwhile offshore wind is going for £37.35.
The tidal projects that got support are :
MeyGen Phase 2 Scotland 28MW
Morlais Magallanes GR3 Wales 5.62MW
Orbital Marine Eday 1 Scotland 2.40MW
Orbital Marine Eday 2 Scotland 4.8MW

https://www.investegate.co.uk/simec-atl ... 27456631R/
https://assets.publishing.service.gov.u ... esults.pdf

Shares up 43%, although they won't start until 2024 with it going live in 2027.

Now 15.02
today's increase is now 82.7%

pje16 wrote:..today's increase is now 82.7%

Up to 2.6p, and then like the Grand Old Duke of York, down they went again.

Today 1.8p to buy.
A veritable penny share, so at the mo any long-term investors will be drowned by the noise of day traders.
Long term though, or at least mid term, with the CFDs under their belt they should be viable. The debtors will roll over the debt. Things have moved on since April, at which time they had to go cap in hand to the Scottish govt for a loan so they could relaunch two turbines at Meygen.

Eventually, I hope, the SP will recover or they'll be bought out. Hopefully I shall be around to see it.

So today, setting aside Mr Sensible, I bought some more.
I have nigh on 500,000 shares in total.
Not owned that many shares in a company since Woolworths went bust. Perhaps that isn't a very good comparator.
Oh well, yolo.

V8

todays high/low

1.65p/2.20p

how's your nerve

88V8 wrote:OK, so I just increased my position by 3,200%.
Yes, you read that correctly.
YOLO

V8

still got them ?

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Re-deploys 1.5 megawatt turbine at MeyGen site in north Scotland. Says this is a critical step at demonstrating tidal technology at commercial scale.

“With the latest turbine now back in the water, and the AR1500 re-deployed in March continuing to exceed expectations, SAE is confident that the MeyGen site will continue to break records for tidal generation. The site has already produced around 75% of the global tidal stream generation to date,” SIMEC Atlantis says.

Notes that three turbines are now fully operational, with a final turbine scheduled for March 2023. Site can deliver a 400 megawatt power station that is both green and predictable, it adds.

Current stock price: 2.06 pence, up 16% on Friday

Source
https://www.ii.co.uk/secure/my-news-fee ... 5896436300
(login required)

pje16 wrote:

88V8 wrote:OK, so I just increased my position by 3,200%.
Yes, you read that correctly.

still got them ?

Yes thankyou.
Still jam tomorrow, but they just sowed another strawberry plant.

RNS with no login https://www.lse.co.uk/rns/SAE/tidal-turbine-re-deployment-at-meygen-site-ylu0myeg6ooy10g.html

V8