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That everything goes well with Abundance 🍀
Lover?
I think I'll quickly buy the poster "I want to believe" from the movie "The X-Files". 😀
Good point.
We should hear from Proteus a little more. Not sure if SAE has access to information and is allowed to publish anything relevant to the market.
BESS + tidal does sound interesting as the energy produced at night can be stored for the next day on which the sun isn't shining and the wind not blowing. Tidal has got your back there.
The next best thing might be hydrogen production but perhaps that's a whole different story.
Totally agree mister tidal.
The 22 December is pivotal for the company.
The actual document I have read for the first time actually seems realistic in today's economic and financial status.
If the vote is yes to abundance until 2029 then I think they have the runway to get things really going and when we are talking 1gw of BESS that is no mean feat.
Then add in tidal array (funding still an obstacle) with a better price at the next CFD and I think a bigger jump in MWs given to SAE.
Then we are actually seeing green shoots of promise from SAE.
Long way to go but this could be the turning point.
If we can also get more info about the use of the new turbines that are 3mw the again improved technology and bigger power generation per turbine is all a big plus. Not heard much from Proteus yet which we do need more Comms from given the stake SAE have with them.
Then we have the first BESS at meygen and no doubt there could be more...
I am sure they will have learned lessons from Meygen ref 4 turbines over the past years.
Then they will have the knowledge of BESS.
Link those 2 together and get the tidal array working and generating energy at Meygen with the BESS alongside then the revenue will start to be generated.
Fingers crossed.
While this sounds terrifying, it's also absolutely terrifying.
But jokes set aside, as bad as it sounds, it's probably some partial if not the explanation for why the stock does not really move.
That being said.. it might be fair to assume that, should the company survive the vote on the 22nd of December this year, things could change.
I'll admit that these interest rates are worrying at best but what comforts me a tiny bit at this point is the fact that we have seen some good will from a director buying a year's salary in stock and that the C-suite does have long term incentives in form of options.
Based on that we may assume that they're working to the best of their abilities and to be fair, tidal stream energy didn't by far receive the governmental support it should have in the last decade whereas we're heading to 50MW right now.
Thanks @altolusso, good idea.
https://saerenewables.com/wp-content/uploads/2023/12/2023_12_01_SIMECAtlantisEnergy_proposal_final-draft-002.pdf
"We do appreciate that these new extension requests may not be welcome, but since we do not expect to have the
funds needed to repay all debentures on the current maturities in 2024, we are at high risk of going into default
and then into administration."
The proposal to bondholders is to agree to a 5 year extension to their bonds or risk losing their premium. Given that Hobson's choice I'd expect existing bondholders to reluctantly agree to this, but who knows. More concerning is the chilling effect this might have on potential future investment.
Suggest you read the message sent to the bondholders - it is a little more scary
Well no wonder share prices are stuck when you have idiots like the 191k who paid 1.48p yesterday and has just sold for 1.1p. The market is full of these impatient idiots and the mm's feed off them
Welcome to SAE
Ask the LTHs
Ignore those little trades they seem to be codes or go through when a mm moves on L2.
Horrible monitor spread 1.05-1.3p but online is much better 1.1-1.195p, I still cannot accept this is under 1.5p after the recent news and how quiet it is for now
Finances are now much improved, whilst outlook for tidal and Bess is strong.
A reassuring RNS indeed.
I'm just wondering who trades 100 to 1000 shares. Here in Austria the fees are higher than the share value
Was to be expected. I'm still very happy with the RNS ✌️
My average is 7.7, so I’ve a lot further to go
Even if there is a takeover bid, it will hardly be at a multiple of seven times the current price!
I'll be relieved when the SP reaches 3p (my average) and happy when it reaches double figures! Still a long long way to go...
Well, if we're all happy then I guess I shall be happy too. 😅
Let's see if this marks some turning point for their market capitalization and that it improves their long term perspective. Really looking forward to their announcement for the implementation of their first CfD and let's keep our fingers crossed for another ring fenced budget in AR6!
All looks good to me.
That it's £10m now but without owning the land 31 years from now really doesn't bother me too much. Very little disappointment that it is a small amount under the £11.8m for securitising the revenue that SAE once floated, but hard to moan in current market conditions. As mentioned it is only phase 1 of the BESS and the update on a BESS at Meygen is more exciting than losing a small amount of land that was tied up for the next three decades anyway.
It is not a bad offer they are putting to Abundance investors and I guess it would be accepted, meaning no liability headaches for a long time if the vote goes as we'd want. An increase in interest payment, repayment of capital starting earlier, and incentive for SAE to repay sooner or incur higher rates, is all reassuring. Continuing to receive 10% p/a or risk your investment going into default would seem a no-brainer imo.
Nice to see some Q2 certainty on turbine 4 going back under. Think bids for next tidal auction round open in March at the new strike price, with successful bids announced early Q3, so good things up in Scotland too. Initial market reaction seems of similar view. Also happy to have RNS and Abundance comms harmonised. Increasingly professional.
Mister Tidal it depends on which Route SAE take the initial contract with Quinbrook was £40m over 30 years for 230mw.
https://www.lse.co.uk/rns/SAE/sae-achieves-milestone-in-bess-project-delivery-bn5pkfgzvj1hrt3.html
Btw.. does this mean that the total value of Uskmouth should be around
1000 MW * (£20m /230 MW) = £87m
This would mean that, at least on theory, SAE could be debt free, run with less operation costs, still for a few millions on the side on top of MeyGen revenue plus two CfD contracts...?
Does this armchair analysis come close to reality?
Okay, I understand. Thank you for the clarification.
So, while it's not the best thing in the world, we can still be happy that there have been assets which SAE has access to while working on MeyGen. If SAE gets in total £20m, whether that's too cheap or not, that's (almost) half of their total debt. Assuming they get another £20m for another 230MW, that would eliminate £40m in debt leaving them with just £13m of debt which would look a lot healthier. Of course, this assumes that they can or want to use the money to pay off debt which I can't tell at this point.
In any case, viewing it like this puts things into perspective so I guess we may indeed see this RNS as very positive at this point in time.
No Mister Tidal they have already had £10m they will get another £9.8m in staged payments over next 18 months. That is just for phase 1
The other planned Bess project contracts of approximately 750mw have yet to be announced .Maybe they have sold it too cheap but without the sale SAE s prospects would have been somewhat limited.
Oldtramp not sure I'm reading the same thing as you but they still have to pay back 6 million over 2 years or pay massive interest charge ,they must be confident they can pay up
Hello OT!
I think it's a language barrier for me here 😅
So, they get £10m now and another £10m over the next 30 years? There's some phrases I find hard to translate unfortunately