Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Agree ... totally surprised at the level the share is at .... considering MAST... let's hope next week will bring some news..
It is also completely bizarre that the fact that Corcel now own 100% of wowo gap and 1m+ tonnes of Nickel has gone completely unnoticed by the market. Sinom a cornerstone chinese investor in Corcel must wondering what the hell this company needs to do to get the sp moving. If this BOD do not not get some interest from the chinese or from a car battery manufacturer wanting an offtake agreement then this BOD is officially completely useless and needs to be changed.
They have so many exciting projects on the go, Burwell, Avonmouth and Wowo are all 100% owned but they dont seem capable of progressing any of them at present. I am hoping that will soon change as they need to prove they are capable of something.
1st sign of real progress will see a material re rate imo.
Whichever way it goes the SP will not be anywhere near 1.5p. A JV with pigeon might even go down better with the market as they are professionals in this area. So for me just get the thing signed off and then go for another project too. Less time needed on Burwell with a JV.
Agree with you MH, but one positive point I would add is that with a joint agreement comes joint funding surely so less chance on dilution, which in my view is more important as share dilution is a nasty habit some BOD get into thinking it's free easy money, well it's not, it hurts us PI's the most. So for now I'll keep an open mind. :)
GLA
TLM
We could only see it coming when the previous landowner decided to sell to pigeon, probably the same time as Corcel found out.
Once pigeon became involved they only did so for one reason and that is the grid connection.
I have 2 views.
1. If Corcel are looking to move the connection it means they are happy to go it alone on the project, great news if it comes off. I doubt it will though.
2. If they cannot move the connection then it does not really leave pigeon with the upper hand. If Corcel tell them no deal based on what they want then the connection will go back up for grabs and there will be others ahead of pigeon. Maybe Corcel will get it again with a new application based on the new land?
I think both sides will have to be a little more flexible as the december deadline approaches. But even if it does end up a jv it will still be great for Corcel to finally get Burwell over the line.
I agree progress of any sort is better than no progress. But I find it disheartening to be outmanoeuvred, particularly in a way that minority shareholder PIs were able to see coming
Me too the other day, but it's better to get something finalized rather then things just hanging in thin air, that's one on the reasons there has been negative views from the Market IMO.
GLA
TLM
metalhead, totally agree, i said something simmilar ages ago, but got shot out of the water!.
It just means giving away part of the equity in the project. In terms of how bad it is, I suppose that depends on the terms. But if Scott and James were happy with the terms we wouldn’t trying to move the grid connection in order to avoid agreeing them!
What would be the problem with a partnership ? I would be happy with that.
I see that on the Burwell presentation slide it now says we are seeking either a lease of the land OR a partnership with the landowner. Like I have been saying for ages, Pigeon run a flexible power business and are obviously going to be angling for a piece of the real action. We’re going to end up giving a big chunk of this project away. I’m p*ssed off about this because I feel like the board have had their pants pulled down and I don’t understand why I could see it coming but they seemingly couldn’t
Corcel tweeting about Burwell has to be seen as a positive step. They wouldn't be posting if discussion s weren't going well. A conclusion may well be imminent. Looking to add a few more. A positive RNS on Burwell would be a big step forward and will only send the SP one way. Come on Corcel get it wrapped up and give us the news. GLA
Yes it appears as if we will get positive news soon ... hopefully next week ...
Can you confirm that Corcels grid connection is included as part of this upgrade for 2022?
Corcel tweeting about Burwell again this morning, we must be on the verge of completion.
https://twitter.com/CorcelPlc/status/1453996032187158533
National Grid aren’t responsible to that area it’s the DNO. You negotiate with a District Network Operator.
Look back at some of my older posts you’ll find a report by the DNO, UK, Power, that is very detailed and the report does display Burwell, area to be highly constrained.
Maybe you’re referring to this?
Burwell Substation, UK
By Carmen
13 Sep 2021
Share Article
Burwell Substation is a 400kV substation located in Burwell, Cambridgeshire, UK.
The Burwell Substation project’s construction has begun in 2021. The works are expected to be commissioned in 2022.
Description
Burwell Substation project, which is an upgrade substation, will be operated by National Grid.
The designed voltage level of the substation is 400kV and the operating voltage level is 400kV.
The step-in voltage of the project is 400kV.
https://www.power-technology.com/marketdata/burwell-substation-uk/
Cheers Torre,
That now makes a little more sense, so I guess we'll have to wait.
Thanks for all your top notch research. :)
GLA
TLM
Burwell may have a UKPN grid connection in place but its the National Grid that has to confirm when it can be connected and how much it will cost all the applications at National grid level (it's called a "statement of works". There is a 400mw development that is waiting approval (Sunica) that may affect the connection date.
By the way, they have until December to accept and pay for the connection so they are in no rush. If they can get it moved it will leave the current owner (who bought the land mainly based on the connection) in a right pickle. Maybe they will have to reassess their lease offer to get Corcel to remain with them.
Mike, They know the grid connection is site specific, ask them by email, they will tell you that. However they are ‘trying’ to see if there is a legal way to move it, probably because they have a cheaper land deal on offer. Can’t really blame them for trying. Once they get the answer a lease will be done, either on the new land or existing. My opinion is that, in business if you get a better offer you have a duty to explore it as at the end of the day it could mean more profit for shareholders, to ignore it would be reckless. I believe pigeon think it will not be possible but if a connection has not been moved before as no one has tried then it just may be??
@Torre,
I just hope they are not making a mistake looking elsewhere. I have to question the mentality of looking elsewhere if the intention was to go with the current land owner in the first place "if it was a done deal" as we were being told. I remember one of the BOD saying about the existing option "they will sign". So unless that lease has been redrawn or the BOD now feel there is uncertainty with the existing option, surely they should sign and be done with and get things moving rather than more delay and risk. What's your view on that Torre? I know you have done a lot of work on this and probably no more about it than the BOD :)
GLA
TLM
Humero, they got an extension until December at which point they have to sign and pay for it. Unless of course they can get another extension. I doubt it though, imo it will be sorted one way or another in December.
Nice price to buy in at imo a lot cheaper than I did !!
Thanks Torreaguas,
Corcel's control of the grid connection - is that in any way time limited? If it isn't activated does it drop away?
Cheers Torre, onward and upward.
GLA
TLM