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Apologies confounded, I didn’t mean weeks have gone by since they said imminently, I mean if weeks go by….. I personally think it will be end of may. Usually everybody works to a month end with house sales etc (I do). So maybe they thought end of April and that didn’t happen so now end of May. Could be wrong and if it comes in the next couple of weeks great. What we don’t want is the “unforeseen delay” at the 11th hour…..and I would expect the management to only use imminent in the context of every risk being covered and it actually is just waiting for pen to paper. This became less straightforward when the land was sold to a new landowner and therefore the people in the negotiations with crcl are different… now I have to believe this makes no difference but I remember being in vast when a slam dunk funding was imminent (days in fact) and the very next day the finder pulled out…. So I have built in mistrust when any bod say something is a given…. Until it actually happens and they get extra smarty points if things happen when they actually say it will. This bod are still on trial …….B
It only turned imminently in this weeks update as far I understand? Let’s see what next week brings, obviously these are milestones the management need to tick off with relative ease. Having experienced a few land deals personally they can drag on longer than you feel possible and Fridays are natural deadline they try and hit.
I agree about the sector and that is the reason I am here................Every CEO wants the Market to assess them higher, but they tend to be judged on not putting so much as a toe wrong............ JP and especially SK........... JP is a salesman and he did well on a number of fronts with SOU........... He however is a salesman and not a ninja in the new sector [battery storage] he is now Chairman....... so he needs the right team beside him........... some of the assets he may just commercialise and sell on, others he may keep........... for now we sit at £6M and by xmas that should be a lot higher......... but for me, as I said earlier his first hurdle is the lease signature........ it should be a slam dunk, but when shortly turns to imminently and many more weeks go by, I suspect the BoD will just be seen in the same light as other lifestyle Directors who just keep us wishing and placing..........B
yrab entirely aggree.
The update released last week was very poorly worded, hopefully the company learn from that.
I think they need to be more proactive now in promoting the company, all we get are daily tweets and the occasional interview, they need to do something that will attract a wider audience .
Thanks for your post yra, I do understand where you are coming from, but I guess I take a more positive view on things. ADVFN has a thread that only talks about the management, I find it all rather tiresome. It is only my experience, but I have found sector sentiment far out ways managements influence on AIM. I have been in stocks with well respected CEO’s who have large personal stakes delist and loose everything in the face of a sector bear market and I have seen failing CEO’s who have overseen years of decline in a stock price then experience a 10x when a rapid reversal of sector sentiment hits.
As mcfcnige has just posted recent company communications was they want to (need to) see progress made so far better reflected in the share price to facilitate funding and moving to the next level. Friday’s close saw us sitting 25% above the level where that comment was made.
I guess my overall views is I only own AIM stocks I am completely bullish on. For me CRCL’s portfolio could not be better positioned given what is happening in both the battery metal and energy storage market. Let’s see what next week brings.
I totally disagree with the current market expectations been to high.
The BOD have said in the past the company is undervalued and JP recently said in a recent Q and A that they want the net asset value of the company higher.
The sp was over 3p around a year ago, projects have progressed since, so sp should be much higher
Confounded, an extract from the Corcel website describing status of Burwell
The Burwell Energy Storage project is expected to begin operations in early 2022, and intends to enter the Capacity market in 2025, providing a fixed and guaranteed source of revenue over an initial 15-year period. Basic project economics have now been approved and the project is now moving towards "shovel ready" status, expected in early 2021.
so what is the difference between begin operations [2022] and enter the capacity market [2025].....
Regarding your first point I did copy and paste a note from JP to myself where he confirmed that he did not expect the negative response from the market on what was a solid operational update, but then went on to say that the market probably is too focussed on short term success from a long term business, which I saw as code for market expectation is too high at the moment..........
Done my research so not deramping, just adding a bit of reality to why we are going down and not up at the moment.... I have already declared on this BB my average is 1.9p and I also stated I wouldn't be buying anymore [so deramping doesn't really help me does it if I want the sp to go down further]
My issue with the BoD is they are coming across as amateurs. I started to read some of the old BB when this was Regency Mines........ there are a fair few who think the new name doesnt deflect from the fact that the BoD have a lot to make up for...... so I will continue to keep the BoD on its toes and if the lease agreement turns out to be a red herring, then I will exit left with a fair loss I expect. if it does get signed, then lets see what the market makes of it...... looking forward to joining the 10p plus club.........thats what I am most are here for.....but this BoD have a lot of convincing to do especially SK .......... Have a nice weekend Confounded. B
Yra, where did JP acknowledge the market got ahead of itself? Also Burwell is pencilled in for 2022 production? Are you subtly deramping or just struggling to get up to speed with things?
Hedge. I hope near term isn’t as confusing as imminent…. Market seems to have less enthusiasm than last week even though the proposition is the same. JP has acknowledged the market is ahead of itself so the pull back is probably right. Seems lots of battery storage projects to compare valuations to, I think the bod expect burwell on line by 2025…. So adding more near term projects to fill in the gap has to be on the cards……good weekend everyone. B
So CRCL's Burwell project won't just be a one-off.
We can expect a stream of such projects ... with the next one expected in the near-term, according to CRCL's update this week:
5th May 2021 7:00 am RNS Operations Update
" ... Flexible energy storage and production remains a very attractive sector here in the UK for investors, and the Company notes the recent successful Mast Energy Developments Plc (AIM:MED) IPO and implied valuation read-across. The Company continues to focus on this space and expects to expand its footprint in the sector in the near-term." ..."
https://www.lse.co.uk/rns/CRCL/operations-update-7orlzqy6h0kokow.html
From Align's 21st. January 2021 research note on Corcel:
"Corcel’s FGS Pipeline
Already, the company has a pipeline of energy production and storage projects in development or under review for sanction that include gas peaker plants (natural gas burning power plants which only run when there is high demand for electricity), flexible energy storage, combined heat & power systems and solar projects.
Such energy storage projects can provide electricity potentially to something like thirty markets. Options including power arbitrage where the batteries are filled up at 6am when power is free and then some two and a half hours later the power is sold for £120 per MW when people are up and about and demand is higher.
It is more than likely that Burwell will provide a blueprint for further deals in the sector with the company having the ability to take available opportunities, with some going into electricity generation and others being monetised. With the target of developing 4-5 such FGS projects a year, it is clear that this rapidly growing division is set to create a growing stream of longterm reliable earnings which can be used to fuel the company’s battery metal ambitions. Moving ahead, this means that at Corcel, investors will not have the normal concerns about small cap exploration plays with their regular fund-raising exercises that cause significant dilution and poisoned relationships with long term shareholders."
http://www.alignresearch.co.uk/wp-content/uploads/2021/01/Corcel_Initiation_Align_Research_Jan_2021.pdf