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Monday it is
Will be an nteresting day
Hmmmmmm.
Disappointing that they don't appear to have met their deadline nor put anything out to explain why not. All we can hope is that the deadline has been met (or about to be met) and an RNS will follow some time this week. If no news this week then I fear the worst........
Good luck all......
No Bse filing so dont see it being lifted not sure where ronald gets his info from
If they miss it by more than a few days I guess Cavendish will be pretty pi***d
I kind of thought that i.e. it was mentioned in the original message about suspension.
I haven't seen anything in the meantime to suggest they are going to meet the deadline of the end of the month. Failure to meet that deadline is going to kill this sp.
Just have to hope they are as good as their word. Fingers crossed for little red RNS dot tomorrow morning, other wise.........
In the Sept trading update they said audit would be complete and accounts published by end of Oct Therefore tomorrow. If not tomorrow then this is likely to take a hit.
Hey Ronald.....where have you seen the news that the suspension will be lifted tomorrow?
Suspension lifted tomorrow and re-rate
In August 2023, the India experienced its lowest August rainfall since 1901, resulting in hot weather conditions. This, in turn, led to an unprecedented surge in electricity demand for the month. According to data published by Grid-India, the country's electricity consumption was recorded at 152 BU in August 2023, an increase of 16% year-on-year. Notably, on August 31, 2023, the country witnessed an all-time high peak demand of 236 GW along with the highest ever single day energy consumption of 5126 MU. Due to the combination of higher demand and supply constraints, prices on the Indian Energy Exchange (IEX) during the month reached Rs. 6.89/unit, marking a 33% year-on-year increase. ELECTRICITY MARKET: DAY- AHEAD, TERM- AHEAD & REAL-TIME MARKET The Day-Ahead Market (DAM) volume increased to 3,810 MU in August ’23, from 3,551 MU in August '22, growing 7.3% YoY. The average market clearing price was Rs. 6.89/ unit during the month, up by 33% over the corresponding month last year. The Real-Time Electricity Market (RTM) achieved 2,738 MU in August ‘23, registering an increase of 21% YoY. It is noteworthy to mention that IEX achieved the highest ever single day volume of 135.28 MUs in RTM on August 24, 2023. The RTM segment enables distribution utilities and industries with greater flexibility and efficient optimisation of portfolios by balancing their power demand-supply on a real-time basis. The Term-Ahead Market (TAM) and the Day Ahead Contingency Market (DAC), comprising intra-day, contingency, daily & weekly contracts, and contracts up to 3 months, traded 1,673 MU during August ‘23, higher by 131.5% on YoY basis.
Trading in OPG to resume within the next 2weeks.
Lets hope its not a HS2 train
Never been happier to see a share be suspended, there will be another trading update prior to it resume trading and it will open 19p and straight into 20p+
Watch this space
End of play today the train will have left the platform
Unbelievable share price when the company is doing very good
"With a continual downward trend in coal prices, the industry and the Company are seeing significant growth and OPG expects materially increased generation and revenue in FY24 with plant load factors expected to increase to approximately 58%. In addition to the Long Term Power Purchase Agreement with Tamil Nadu State utility for 74 MW, the Company secured a contract in September 2023 with another State utility up to 280 MW at an attractive tariff which is valid for five months during H2 FY24.
Quick return when this re-rates after the temp suspension
Final day before the temp suspension.
Knowing how the the economics have changed and the positive outlook just announced for 2024 this should go into the weekend 14p+
When trading resumes after the suspension expect lots of positive newsflow and the shareprice to break 20p+
Forecasted sales growth for y/e24 set be have increased 151%
Coal prices down and energy prices up in a thriving Indian ecenomy all adds to the profit
2024 should see a return of dividends
This is great.news worth reading
The Government of India, in order to reduce dependence on imported coal, has opened the mining sector to private players and traders. In the long term, this will lead to an influx of cheaper Indian coal in the domestic market.
During the current fiscal year, cumulative electricity demand has increased by nearly 9 per cent y-o-y. Due to this consistent growth in power demand and in the absence of any major increase in capacity additions, India is still dependent upon coal-based generation. The lower-than-expected addition in FY24 from the renewables sector will lead to an increase in Plant Load Factors of thermal power plants in the country.
12.80p to buy, very tight float
Premium to buy now
Massive uplift in forecasted turnover and profit for 2024
Can't buy nothing, directors holding more then 52% of the shares, shorts are in trouble
Looking forward to the re-rate but still alot lot more upside to come 40p+
"has improved with international coal prices having softened significantly "
Meaning company will be making significant profits! Once results published and comes back from suspension, share price will be significantly higher then todays price
As a result of the delay to the audit process, the Company's ordinary shares will be suspended from trading on AIM with effect from 7.30 a.m. on Monday 2 October 2023, pending publication of the FY23 Accounts. The temporary suspension from trading on AIM will be lifted once the FY23 Accounts have been published.
Notwithstanding the suspension of trading in the Company's ordinary shares, with effect from 2 October 2023, the Company will continue to make announcements as and when there are any developments that require announcement in accordance with its obligations under the AIM Rules and other applicable regulation.
22 September 2023
OPG Power Ventures plc
("OPG", the "Group" or the "Company")
Trading update, Update on Annual Accounts and Suspension of shares from trading on AIM
OPG Power Ventures plc (AIM: OPG), provides the following trading update and an update in relation to its audited annual report and financial statements for the year ended 31 March 2023 ("FY23 Accounts").
Macro Outlook
In the current financial year, the macro environment has improved with international coal prices having softened significantly and the electricity demand trend remaining healthy due to an improvement in economic activity. The Government of India, in order to reduce dependence on imported coal, has opened the mining sector to private players and traders. In the long term, this will lead to an influx of cheaper Indian coal in the domestic market.
During the current fiscal year, cumulative electricity demand has increased by nearly 9 per cent y-o-y. Due to this consistent growth in power demand and in the absence of any major increase in capacity additions, India is still dependent upon coal-based generation. The lower-than-expected addition in FY24 from the renewables sector will lead to an increase in Plant Load Factors of thermal power plants in the country.
Trading Update
As announced in the trading update on 20 June 2023, the Company reported total generation for FY23 of 1.5 billion units and repayment of Non-Convertible Debentures totalling £19.7 Million (₹2 Billion) in May 2023. The Company's FY23 financial results are expected to be in line with market expectations.
With a continual downward trend in coal prices, the industry and the Company are seeing significant growth and OPG expects materially increased generation and revenue in FY24 with plant load factors expected to increase to approximately 58%. In addition to the Long Term Power Purchase Agreement with Tamil Nadu State utility for 74 MW, the Company secured a contract in September 2023 with another State utility up to 280 MW at an attractive tariff which is valid for five months during H2 FY24.
OPG is pleased to announce that as at 31 August 2023 the Group had cash and cash equivalents of £42.4 million and gross debt of £23.8 million. Due to realisation of receivables, net cash as at 31 August 2023 was £18.6 million, compared with net debt of £9.3 million as at 31 March 2023.
The numbers mentioned in this section are unaudited.
Update on FY23 Accounts
The Company is required under AIM Rule 19, to publish its FY23 Accounts, by 30 September 2023. There has been a delay in the financial reporting close process for the FY23 Accounts and as a result the audit has been delayed. The annual audit for FY23 is still ongoing and the Company currently expects the audit to be completed and the FY23 Accounts to be published by 31 October 2023.
As a result of the delay to the audit process, the Company's ordinary shares will be suspended from trading on AIM with effect from 7.30 a.m. on Monday 2
Should reflect very well when the interims are announced.