Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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The Corby Hearing has ended and the Planning Inspector will be presenting his report to the Secretary of State in the New Year - no date yet but probably Feb/March. Apparently compelling scientific evidence was given as to the dangers not only of storing Radioactive waste in such a waste dump, but also regarding the safety of the existing waste site. However Augean also presented evidence to counter the arguments. It was interesting that Augean based its planning application on the recommendations of the Environment Agency. Yet the Environment Agency was never called to the Hearing! Very strange! Common sense would indicate that, at the very least, the Secretary of Sate would postpone any decision pending a proper scientific investigation - after all there is no reason for a rushed decision...except for commercial profit. However, as we know, Political Expediency beats common sense every time. The Government wants to press ahead with its Nuclear programme and the storage of Radioactive waste has to be resolved. Their best solution is probably to store it in areas of "least resistance". However it seems that the expectation of little resistance from KingsCliffe and surrounding areas may have been misjudged. This looks like becoming a political hot potato. The profits projected by Pete151262 look absurd. There will be big profits for sure - the legal costs to Augean of the Appeal could easily hit 7 figures so that has to be justified, otherwise there will be some heads rolling. Difficult to asses the overall impact on Augean - but the Directors have put a lot of emphasis on wining. If a decision is refused or delayed then expect a big drop.
Does anyone know when the decision on the corby enquiry will be made? A report by Edison Investment Research in March 2010 suggested that if Augean was to accept its full quota of radioactive waste, its profit from the King's Cliffe site would be in excess of £100 million per year. With an extension of ten years Augean could walk away with over £1.2 billion, leaving the local community with a legacy of hundreds of years of radioactive emissions.
It appears that the Corby enquiry is opening a Pandoras Box of conflicting scientifc evidence, and a lot of what is coming out does not look very good for Augeans Nuclear Waste application. However one suspects that this will ultimately be a political decision. With this news from jonnyr1986 about their West Midlands Explosion it seems there may be safety issues about Augeans operations. Explosions/leakages=BP=Enviromental Problems=Clean up costs and potential legal costs. Perhaps not such a good target for a takeover? Or then again this could weaken the company further and make it more attractive?
http://www.bbc.co.uk/news/uk-england-stoke-staffordshire-11702124
Will look at TEG with more depth. If the Augean appeal fails, and It looks as though it was hoped to be a (relatively) cheap option to cure a National Nuclear disposal headache, then someone has to come up with another solution to get rid of the stuff. Be interesting to consider who else in this industry has better facilities - it seems that there is a lot of money to be made out of it.
Thanks Riddler - I tend to agree and they certainly have a fair fixed asset base (excluding the "goodwill" (???))which although it may be at good value is not easily realisable. Their trading position looks somewhat wobbly and only sustainable through their bank arrangement. I think a takeover will happen - but who buys will be interesting. Presume it will be existing shareholder (One51 again?) as a lot of them bought in at a high price and won't be keen to sell. One to watch.... but I'd be selling in short term, pick up at a bargain later? Who knows.
A hearing is currently underway in Corby to determine whether a planning application to dispose of Low Level Nuclear Waste by Augean in its Kings Cliffe dump is approved on Appeal. The final decision will ultimately be taken by the Secretary of State in the new year. The Directors of Augean have expressed confidence that the appeal will suceed, and I think is why the share price is still at a fair level relative to their financial perforamce.. However that confidence is probably very misguided. Having attended the hearing, my view is that the evidence being presented as to the risks involved is extremely alarming and this view is I believe shared by many experts as well as the local MP. I have followed the finances and shares of this company for some time now. A lot hinges on the outcome of this appeal. In the event that that they are not sucessful this is likely to impact very negatively on their share price. In the event they succed the price will no doubt rise substantially. If you enjoy big risks buy now! I would be interested to hear views on how this might affect a takeover? The outcome of the appeal will have wider implications for the waste industry as a whole as it will be setting a precedent. Keep watching with interest.
Well looks like im the only one still buying these.
Gone very quite here,but always before the storm arrives,and that takeover is coming,so i will have hold and wait and see what happens then.
thanks lofty Xx
Interims for AUG http://www.investegate.co.uk/Article.aspx?id=201009280700073915T http://www.investegate.co.uk/Index.aspx?searchtype=3&words=aug
Hi ridler, did the interims get published? any other news on this? seems dead
I'll second that RR - try not to keep too close an eye on this one as it seems to be ...yawn.... side stepping!
Some sort of news here would be well receieved. Gone very quiet here and price up 1p down 1p.Turning into the ultimate sideway share at present
That was some overhang and was a touch over 1% of the stock. Riddler do you think that was a pi sell or something more? You would think we can move along now. The bid is already up aswell
Top man,thanks. AFC becoming a little stale....
Do your technicals indicate any movement North now this overhang has cleared.
Hope not but even though I held firm I can't believe that it went to 35p only to come down to very close to my average again of just under 26p. Lets hope it starts to make some movement again but we need a bit of volume here. Very very quiet board we have here indeed
Hi Riddler, hope all is well Yes had a quick look yesterday and saw it was down again. Out and about as taken the little birthday boy up to drayton manor. Just confused massively here as 35p was a hell of a jump on thin air and that 100k buyer was a fair size but we have a few resonable buys and weve had some fair sized sells since falling from that 35p. Where now? Back to the 23p support or into gear and away from this range again?
Did that seller rwally get 30p? Ive not been offered more than 28.25 all day but did mioss the market opening by about 15 minutes this morning. Seems like 28p is the new bottom now as we have traded sideways now for 2 weeks since hitting that 35p spot. Man City hurt us like hell last night Riddler. Big game for your boys this week.
Guess Benitez needs a lover as he won't get much over there. Moving there is like buying on the top of a spike hes on a hiding to nothing after Mourinho. Mind you hes probably like Capello not too fussed with his packet!
Yep im sure things will improce under Roy. He talks sense an seems to be tactically aware. I love the way he bought Torres on against Arsenal with 10 men 1-0 up and 19 mins to go keeping them well pegged back. Benitez would have put a defender on and invited the pressure. We were just unlucky with Reina
What did we actually close at here. 31 or 29.25. This board always goes bonkers!
Roy Hodgsons red half of Mersyside mate. Love it! Most of my friends are Westham, Arsenal and Spurs. The chap I watch England home and away with is a Spurs season ticket holder. Would be great to see arry in the Champions league taking on the likes of Mourinho and co. Perfect experience for taking over from Capello
unreal. Noticed all the buys are coming in at £3000+ these days. Have a good weekend mate & lets hope for a strong blue week