Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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But no problem according to DRAX ???
https://www.ft.com/content/8af60bfa-f661-43e8-9096-e84b3884040d
"One of the world’s biggest producers of wood pellets sold to power utilities has filed for US bankruptcy, a downfall for a business seen by its backers as an alternative energy source to oil and gas."
"Enviva was flying high only two years ago as power plants from the UK to Japan started converting from coal to wood pellets as a source of fuel. Investors gave the company a market capitalisation of $6bn at its peak."
"But to expand production, the US company issued a large amount of debt as the cost of running its wood pellet processing plants increased. Additionally, a commodity trade Enviva entered into backfired when energy prices started to drop in the winter of 2022 to 2023, said Pavel Molchanov, an analyst at Raymond James."
"Drax, which buys wood pellets from Enviva and is listed as a creditor, said it was not expecting any interruption due to Enviva’s bankruptcy filing. It will have “no material impact” on Drax, the company said in a statement to the Financial Times."
EU doesn't care about the environment, it only cares about being in charge
"A study of Norwegian forests discovered that “increasing the use of wood from a boreal forest to replace coal in power stations will create a carbon debt that will only be repaid after almost two centuries of regrowth.”
The Study- https://www.researchgate.net/publication/227584033_Harvesting_in_boreal_forests_and_the_biofuel_carbon_debt
Burning wood is classed as a renewable energy source by the eu
DRX will get shot by environmentalists, importing ancient timber from Canada and burning it to produce energy, almost like we're still in the stone ages. Ironic that the environmental idiots caused this lunacy by stopping new nuclear plants from coming online, when nuclear is the best form of base power load and has zero emissions :)
I bought last week , so very pleased atm. SP seemed cheap and worth a punt GLTA
I think we must have bought at around the same time OWLS - I am quite pleased with an 80% price gain and the dividends that trickle through too.
Ya, ya, naturlich, hahaha
Still well up from my original investment at £2.50, whilst you were shorting and losing money
Where are you guys? Not buying at the weakness? -)
I bought in today as I believe the sp is oversold and will head back over 500p in the short term
Is there anybody else out there who didn't get out or isn't shorting this dog share?
Https://www.reuters.com/business/energy/power-plant-operator-drax-launch-carbon-removal-business-2024-01-25/
British power plant operator Drax (DRX.L), opens new tab plans to establish an independent business focused on becoming the global leader in delivering large-scale and high-integrity carbon removal.
The new entity will be launched this year and be operationally separate within the Drax Group and headquartered in Houston in the United States, Drax said.
It will be led by Laurie Fitzmaurice, a senior energy infrastructure expert with nearly 30 years of experience in business development, most recently for Amazon Web Services.
"The creation of this business brings to life years of hard work by many outstanding people across our group and marks another step in Drax’s journey to enable a zero-carbon, lower-cost energy future," said Drax Group CEO Will Gardiner.
"Our recent success is grounded in providing secure, renewable energy and our future is focused on playing a critical role in tackling climate change through the generation of secure, renewable power and the large-scale removal of carbon dioxide."
Britain last year laid out plans to boost energy security and independence by investing in efforts to move towards cleaner, more affordable energy sources, including projects to capture and store carbon dioxide.
Last week Drax said the government had approved its planning application to convert two biomass units at its Drax plant to use carbon removal technology known as bioenergy with carbon capture and storage (BECCS).
Spot on.
I remember the EDF CEO saying in 2007 that we'd all be eating our Christmas Turkeys cooked with Nuclear Power in Dec 2017.
7 years later, we're still waiting and it's likely to be 7 more (if we're lucky).
Biomass = security, better value than nuclear and more reliable than wind and solar. On top of that you have the recent news from the Gov about capturing carbon too.
Hinkley Point C could be delayed to 2031 and cost up to £35bn, said EDF last night (Bloomberg). The owner of Hinkley Point C has blamed inflation, Covid and Brexit as it announced the nuclear power plant project could be delayed by a further four years, and cost £2.3bn more
That's a delay of 3.2GW of low carbon capacity that's expected to generate 20-25TWh, it potentially puts pressure on the government to guarantee a bridging mechanism for biomass -in my opinion.
I ama. fan of the company and the strategy but I am fed up with the noise around the business environment.
This latest consolation came out this morning and company would (I assume) have head the heads up last night.
Why has a formal response only come out just before midday.
We dont know when the decision will be made nor by which minister..
It is very frustrating as the UK electricity system cannot function without Drax but the wider political environment gives little confidence/visibility.
In summary - I am on the fence.
Absolutely, haha! I'm moving under the bridge. With the share price scraping the bottom of the range even after this meaningless 'announcement' I may yet to reconsider though. What a joke!
...Assuming he's not living in a caravan already:
https://www.proactiveinvestors.co.uk/companies/news/1037736/drax-to-win-approval-for-net-zero-carbon-capture-plan-report-1037736.html
Up 16% in the last 2 months, very nice
Only one fool on here I'm afraid. It's poor old deluded Airfix.
Hehe. Absolutely. Because I missed a fall from c. 700 and shorted right at the bottom of 400 you jester -)
Airfix shorts under water again
@schjmh, and what about it? It was a pretty good move back then, right?
And another comment from Aiffix - "Meanwhile, it's a great buying opportunity for people who actually know what they're doing and what they want to achieve. I'm accumlating Drax shares in packets of 5000 starting from 280p adding every time it drops 10p. "
I bet we don't hear from him today!
If someone makes an incorrect statment it is only right that we correct them. And if they continue being foolish why not call them a fool ?
You have to go back 6 years
From Dec 17
" Great opportunity to buy on the cheap."