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Unfortunately it doesn't take much to move this stock. What have we had today? 772k shares sold in 117 trades... Out of a total issue of 191 million shares. So sales of 0.5% of the stock moved the sp down by 13%??
Sounds about right for AIM I'm afraid! But, if there turns out to be no company based reason for this sale then an equally small volume can move it back up in short order. We had four decent sales and other good news from 28th July to 3rd Oct and then largely silence. Which means, to my optimistic mind, we are due another sale or two. The 15 MWh Taiwan Sale Secured with 255 MWh Follow-on Order Potential announced last December was meant to start delivery in Q4 2023. So we may get more news on that soon. Hopefully there's some uplifting news around the corner.
A fire sell!
Given the SP fall today, they would have to be sells
Not sure they're sells DD but then again not sure they're buys either. Certainly they are chunky trades.
Someone is getting out looking at those huge sells. Expect we'll see a holding RNS shortly
The company has certainly not ruled out an equity raise which would usually be done with reference to the share price at the time.
The Directors are in the process of evaluating potential additional funding options from potential strategic investors but no such funding is committed as at the date of approval of these financial statements. The Group has been, and continues in, active discussions with a number of potential strategic investors and is confident that it will be able to conclude an equity investment from one or more of such parties within the period up to 31 December 2024 assessed for going concern purposes
Company has stated that cash requirements will be met by strategic investors and not existing shareholders. No fund raise afoot. SP is about ebb and flow of buyers and sellers and absence of news means that sellers are dominating. Fundamental news of orders or strategic investors will change that dynamic and prompt a sharp reversal in momentum.
SP has dropped more than 20% over the last 5 days on no official news so clearly. Good to see the UK stock market still as bent as ever 🤬
Running short of cash as I doubt the short-term warrants will be taken up at I believe 50p which expire mid Dec
The Directors have prepared a base case scenario that assumes the 14.5m Short-Term warrants originally granted in 2021 ("Short-Term Warrants"), are exercised. Under this scenario the Group would expect to remain cash positive for the period up to 31 December 2024 assessed for going concern purposes. The forecast does indicate that the Group would move into negative cash shortly after the period assessed for going concern as a result of working capital investment on future sales. The Group would defer any working capital investment if it were to result in exhausting all cash. This forecast is also based on delivering existing signed sales contracts during 2023 as per forecast gross margins and existing and future sales contracts during 2024 at anticipated positive gross margins. The Directors recognise there is a risk that the Short-Term Warrants will not be exercised if they are not 'in the money' before the expiry date and given it is not at the discretion of the Group.
In assessing going concern the Directors have also prepared a severe but plausible downside scenario which forecasts delivery of existing and future sales being made during 2024 being delayed beyond June 2024 and forecasted margins not being achieved, and the Short-Term warrants not being exercised. Under this scenario the Group would exhaust all available cash by April 2024 and it will be necessary to raise further funding within the next 12 months in order to continue trading and deliver on the strategic objectives.
It does seem like that. Some very large sales have gone thru 60ks & 50k - suspect they might be doing the rounds re funding and as usual Pis are the last to find out.
That or a big order to fill.
Jesus!!! What’s going on with the SP? Anyone else got the feeling someone knows something we don’t?!!!!!!😬
Https://apple.news/Ah9TLqejNR4SLqrZmIDEQPg
‘The new investment includes a 9.7 billion pound injection over ten years from South Korea's Sovereign Wealth Fund into renewable energy and green infrastructure projects in Britain, Britain's Department for Business and Trade said in a statement.’
Wow, did not think we’d be seeing 34p again ☹️ I’m buying more at 32p but come on IES, got to be some significant news of some sort soon. Would like an update on Project Mistral/the JV with Siemens Energy please
Https://www.bbc.co.uk/news/business-67430888
Might encourage some bids with higher prices being paid...
Hoping that the prolonged silence is because IES staff haven’t got enough hours in the day at the moment!!! Hoping for another juicy positive RNS sometime soon 🤞
I've nothing new to say on Invinity. That's the problem.
Every day I look for some news of another VS3 sale. It's all gone quiet.
But staff are on the move. I've seen the job of Manufacturing Manager in Vancouver was posted on Linkedin 2 days ago
hTTps://www.linkedin.com/company/invinity-energy-systems/
and on Smartrecruiters
hTTps://jobs.smartrecruiters.com/InvinityEnergySystems/743999943800713-manufacturing-manager
Lack of VS3 sales in recent months is now starting to create uncertainty about the future.
I thought it was ominous when Everdura's deal was allowed to be switched from sales of VS3 to future sales of Mistral about which there is no sales information.
HTTps://www.reuters.com/markets/deals/siemens-energy-secures-provisional-deal-guarantees-sources-2023-11-09/
Siemens Energy to get government guarantees. So that removes any risk, if there was any, to future Mistral collaboration.
Hi BESST, I'm most interested in your comments/feedback from the battery storage event you attended this week. To repeat my question - Did the attendees/speakers discuss whole life cost of storage technologies, and what was the consensus around that? i.e. Did it seem like something they cared about? Or were they solely focussed on the low price of lithium? Many thanks if you get time to respond.
I recall in a recent interview with Matt Harper than one of problems with the UK BESS market was that the contract specifications didn’t play to the strengths of VFRB e.g. max durations matched the limits of a lithium battery not the full capabilities of VFRB.
A bit of homework for you.... do some research, compare large scale lithium ion batteries against Invinity's future Mistral product (see most recent investor meet slideshow for the battery facts) and let us know if it compares favourably or not.
Thanks BESST, I thought there was supposed to be an argument for the whole life cost of VFB bringing it close to, or even on par with, the cost of implementing standard Lithium (due to anticipated double the lifetime for VFB). Was that discussed at your event, and what was the concensus around that?
I attended a key battery storage event yesterday in the UK. It was a full day session hosted by a leading industry consultancy and had most of the main players. I think what was abundantly clear is there's no financially viable use case for anything other than lithium ion (at scale). This is largely due to lithium batteries being the cheapest they've ever been and the revenues still be suited to shorter duration batteries. This will be a really big challenge for Invinity. However what is exciting is the amount of regulators and network operators around Europe trying to create new markets for Long Duration Energy Storage, such as Ireland (https://www.eirgridgroup.com/site-files/library/EirGrid/LDES-Call-for-Evidence-EirGrid.pdf) . These policies are exciting but they will take time to be delivered. There's a huge opportunity but vanadium flow is still a few years off being a commercially viable product..
Doyezee - great post.
Statera appears to have experienced very strong revenue and profits growth. Perhaps it got to the limit of its borrowing capabilities without further equity funding? (Debt to Equity around 10x.)
Statera appears different to IES in that it owns / operates the equipment rather than manufactures /sells.
Last report and accounts:-
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