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They tweeted about Burwell yesterday, so it must still in progress?
C2G, we are in a partnership, not the driving seat. I still believe there could be a positive near term result for Burwell, however for me Burwell is just one aspect of CORCEL I invested in.
Cannot understand why CORCEL did not buy the land and do a sale and leaseback once the project was up and running.
you infer that we have the upper hand. The grid connection agreement has a lifespan. It runs out. So who is in the driving seat? If I were the new owner re negotiating the lease, I'm sorry to say I would run it to the wire for the person with the expiry date, see who breaks first.
Agreed, Burwell really should have started by now, let’s hope that work out a quick path from here.
Re Burwell, what’s also annoying is that the country currently needs battery capacity for the grid, these sort of delays multiplied nationwide do not help
With the Burwell negotiations ongoing I suspect looking at other sites is part of the negotiating/strength Corcel are applying because we own the grid connection. I personally feel they will come to an agreement as it is in both parties interest to do so.
I was encouraged by the Nickel project update, still looks like plenty of news over the coming months.
I think the problem is that the new owner is a flexible power company and (I imagine) is hoping for more than a rental income. Again, one wonders how Scott doesn’t see these issues coming. Sorry, Burwell makes me grumpy
I don't understand why it's so difficult to do a lease on Burwell. I understand it has a new owner and that said he either wants to lease it or not ... it's just a piece of land not the empire state building...
Totally agree Metalhead .... Burwell still feels a very long way off (if at all) and I saw that as the big short term win in terms of SP.
That said, I do feel like the Q & A was worthwhile in the end as I somehow feel dare I say it .... slightly more well informed.... I'm sure I'll change my mind later.
Big thanks to everyone for posting questions that managed to get answers.
Intrigued by the 'Special Sauce' .... but at this stage I will add that to the list of other carrots being dangled.
It's starting to feel like another 12 months before something great happens but I'm prepared to hold on that basis I think and hope that I'm proved wrong.
Just reading through. Frustrating for me that they are now considering alternative land for Burwell. I raised that possibility with the company by email months ago and they basically said they’d thought about it but not much, because a grid connection is tied to a particular parcel of land so if you move to a new plot of land it’s effectively a new project. Now, if that’s right, the fact that we’re resorting to it now must mean the original plan is going pretty badly? Or, if switching to new land is a decent option, why was it pooh-poohed when I raised it ages ago? As I say, frustrating. I think they need to come clean about Burwell (as, in fact, Torreguas has been saying for ages)
Answers still coming in.....
Really interested to see how he answers Dicko's question re where do you see corcel in 2 years time.....could be very telling.
Dicko80 question re Dempster was more positive than I expected .... I figured they had just forgot to update the slide deck.
@Metalhead25,
Exactly but it does point to other strategic options, and this is why I was asking the question. I'm happy with the answer as it does suggest that the placing would be the last option. I just hate companies that take the placing option before using other options first, it's like "there is the cow", and I'm going to milk it..... rather than "lets fatten the cow before we milk it" and I prefer the latter. Seems a sensible approach and historically that hasn't been the case in my experience so I'm happy with the answer and a 10 x uplift on value would be great 15 pps on today's starting bid :).
GLA
TLM
yeah - I'm resigned to that being inevitable...... then anything other than that is a bonus assuming they close something.
Hmm, not exactly a “no” to a placing!
ok so now the answers have been updated , Scott seems to be saving this from disaster.
It was a bit of a disaster at first but we have actually managed to get some info here so I'm not complaining any more .
My question:
Good morning Scott, Can you tell me if you are intending to dilute the shares at all going forward? or are you finding financing via other means in order to fund further projects?
Scott's answer:
Obviously running a pre-revenue AIM business requires balancing the need for capital and the deployment of it. Our FGS business has been designed to generate near-term returns either through development fees/project disposals or holding long term stakes in operating projects. So, our intention is take every £100k and turn it into £1M of value for investors, which will no doubt feed into share price performance. While we can’t comment on specific financing aspects at present, we would point to instruments such as that we have in place with Align, as being able to help fund the business without significant dilution. Align have also been very supportive shareholders, taking and retaining (TR1ing) a meaningful stake in our business, which is all that one can ask of an investor in this space. So going forward we expect to bring project finance in at the project level wherever possible, this is going on with the gas peakers currently, keeping the CRCL development company asset light with an attractive return profile. A business such as ours puts a great deal of effort into intelligent funding strategies; ideally leading to minimal dilution and ultimately increased value to shareholders.
Same as, now my question has been thoroughly answered!?
just logged out/in again and the answers have changed so i'll do the same at the end ..... very strange
thanks Humero - not sure everyone is getting the same experience or answers on this site :^) as my answer links seem to be all off kilter.
Gekko, this is what they replied on this:
"Yes there is a potential to use the site next door which we are investigating. It is of course a process to move it and it comes with its own risks."
is it me or is scott answering questions on Burwell with refrences to answers on wowo ?
Might be my session but I can't see any answer relating to the change of burwell site...... anyone else?
Understood, thanks.
Well I’m not surprised they were unable to say much about current commercial (and presumably confidential) discussions. Does slightly make you wonder why they thought a Q&A was a good idea, given that most projects are in that position! Still, we await the news that will put a rocket under this. It will be worth it