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Pin to quick picksSimec Atlantis Share News (SAE)

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TRADING UPDATES: Hardide upbeat on recovery; SIMEC permit delayed

Thu, 07th Oct 2021 14:43

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Hardide PLC - Oxfordshire-based advanced surface coating technology developer - Value of orders received in second half of financial year ended September 30 is GBP2.5 million, up 52% on those received in first half, though a significant proportion of this will be recognised as revenue in the start of the 2022 financial year. "The board is looking forward to an improved performance in financial year 2022 and providing further updates on the various exciting projects in progress," Chair Robert Goddard says. Going into the company's next financial year, notes there are "promising signs of recovery" across the all key market sectors.

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SIMEC Atlantis Energy Ltd - Edinburgh-based tidal and hydro energy producer - Explains Welsh government will now itself decide on permit variation application for the conversion of the Uskmouth power station and has blocked Natural Resources Wales - which had previously indicated that it was minded to award the variation to the permit - from making a determination. Says "further delay" is a blow, and the government is putting project at risk. "SAE will consider all available legal options and will seek to ensure that the Welsh government understands how critical this project is to South Wales, Newport, to key industries and the hundreds of employees whose jobs are at risk," it says.

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Block Energy PLC - oil and gas developer and producer in Georgia - Reports third quarter production of 34.6 million barrels of oil equivalent, down from 42.6 million barrels in the second quarter. "Production during the third quarter includes the resumption of production from well WR-16aZ, following successful installation of a sucker rod pump, but this was more than offset by the decline from well WR-38Z," Block explains says. Third quarter revenue slumps 23% to USD901,000 from USD1.2 million a year previously.

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Falcon Oil & Gas Ltd - exploration and development company - Completes production testing at Kyalla 117 in the Beetaloo Sub-Basin, Northern Territory, Australia. While Kyalla 117 flowed liquids-rich gas without assistance for intermittent periods, production was not sustained and there were indications of a potential downhole flow restriction. Further analysis will be undertaken which will inform the future approach to further drilling. "The information collected from this first horizontal well drilled in the Kyalla liquids-rich play, including the elevated liquids component, confirmed that the Kyalla remains an attractive target for further appraisal," comments Chief Executive Philip O'Quigley.

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Aura Energy Ltd - Australian exploration company focussed on Sweden and Mauritania - Signs USD10 million offtake financing agreement with commodities firm Curzon Uranium Trading. The funds have been set aside for mining working capital and production costs. The agreement includes up to an additional USD10 million facility at the lender's discretion. The potential maximum available under the agreement is USD20 million. "Sentiment towards uranium and nuclear power is shifting rapidly amongst investors and we see considerable potential to expand our resource, production throughput and undertake further offtake finance agreements," says Chair Martin Rogers.

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Mast Energy Developments PLC - developer of reserve power generation plants - Completes purchase of Rochdale Power Ltd for the installation of a 4.4 megawatts flexible gas power project in Dig Gate Lane, Rochdale. The acquisition amounts to GBP90,000, while the property rights cost GBP132,000, for GBP222,000 total, which will be funded from the current MAST working capital budget. Rochdale will provide an additional revenue opportunity, Mast says, increasing the overall revenue stream by adding to the Bordesley project, which is currently under construction, and Pye Bridge project, which is already in production. "Completion of the Rochdale transaction is yet another step in MED's clear strategy to establish a portfolio of reserve power plants in aggregate of 300 MW generating capacity in the UK," Mast says.

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Live Company Group PLC - UK-based live events and entertainment company - Signs new contract with Les Grands Pres Shopping Centre in Mons, Belgium for Bricklive Fantasy Kingdom. Plans to expand presence in similar centres across the region and wider Europe in 2022.

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By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
23 Sep 2022 11:39

IN BRIEF: SIMEC Atlantic Energy shares surge on turbine re-deployment

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Re-deploys 1.5 megawatt turbine at MeyGen site in north Scotland. Says this is a critical step at demonstrating tidal technology at commercial scale.

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30 Aug 2022 11:05

IN BRIEF: SIMEC Atlantis shares surge on major milestone for project

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Secures the necessary grid variations for its 230 megawatt battery energy storage system project at the Uskmouth site in Wales. Now believes the project is on track to be operational by 2024.

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30 Aug 2022 11:04

AIM WINNERS & LOSERS: Diurnal shares more than double on takeover bid

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11 Aug 2022 15:44

UK shareholder meetings calendar - next 7 days

Friday 12 August 
iEnergizer LtdAGM
Ironveld PLCGM re proposals to remove directors
Old Mutual LtdGM ownership transaction
Pineapple Power CorpAGM
Monday 15 August 
Ascent Resources PLCGM re annual report
Corcel PLCAGM
Coro Energy PLCGM re annual report
Forward Partners Group PLCAGM
Ince Group PLCGM re fundraise
Red Rock Resources PlcGM re convertible loans
Schroders PLCGM re dual class share structure
Tuesday 16 August 
Go-Ahead Group PLCGM re takeover by Kinetic and Globalvia consortium
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Wednesday 17 August 
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Thursday 18 August 
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NextEnergy Solar Fund LtdAGM
Oryx International Growth Fund LtdAGM
SIMEC AtlantisEnergyAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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7 Jul 2022 11:53

IN BRIEF: SIMEC Atlantis wins contract to deliver power at MeyGen

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Wins government support to deliver the next phase of tidal projects. It says it has successfully secured a contract for difference in the latest allocation round for MeyGen site in Scotland. SAE says the CfD guarantees GBP178.54 per megawatt hour for 15 years. The firm it will deliver "28MW of clean, home-sourced, predictable power."

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1 Jul 2022 21:53

TRADING UPDATES: Scotgems to vote on liquidation; Mkango names new CFO

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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29 Jun 2022 11:38

AIM WINNERS & LOSERS: Deltic rises on Shell deal; Windar down on delay

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

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29 Jun 2022 11:04

SIMEC Atlantis Energy shares tumble on sharp loss in 2021

(Alliance News) - SIMEC Atlantis Energy Ltd on Wednesday posted a greatly widened loss as it described the past 12 months as "very challenging".

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10 Jun 2022 17:32

IN BRIEF: SIMEC Atlantis Energy wins extension on debenture deed

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Wins a one year extension to the maturity date of its Atlantis Ocean Energy debenture deed to June 30, 2023. The interest due on June 30 will now be paid late but company notes this will be paid no later than September 30. Company also formally requests from Atlantis a deferral of up to three months for interest payment due on June 30. The request for the deferral requires the agreement of 75% by value of debenture holders.

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24 May 2022 14:05

SIMEC Atlantis Energy surges on GBP40 million battery storage contract

(Alliance News) - SIMEC Atlantis Energy Ltd on Tuesday said it has signed a GBP40 million contract for a battery storage project at Uskmouth.

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24 May 2022 11:02

AIM WINNERS & LOSERS: SIMEC wins bumper deal; boohoo settles claim

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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27 Apr 2022 16:04

IN BRIEF: SIMEC Atlantis Energy falls on debt repayment discussions

SIMEC Atlantis Energy Ltd - Edinburgh-based energy company - Enters into discussions with Abundance Investment Ltd to extend the timing of the repayment of its Atlantis Ocean Energy PLC debentures. Says it needs more time to make the repayment due to delays at its projects, in particular at its Uskmouth site. These debentures were issues in 2017 and totalled GBP5 million. They were due for repayment on June 30. Company adds it will formally request an extension and potentially a deferral of the upcoming interest payment "shortly".

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25 Apr 2022 20:22

IN BRIEF: SIMEC Atlantis promotes Hirst to CFO, executive director

SIMEC Atlantis Energy Ltd - Edinburgh-based renewable energy producer - Promotes Simon Hirst to role of chief financial officer and executive director. Hirst has worked at SAE since 2015 and has primarily been responsible for all financial and commercial aspects of the MeyGen project. Says Andrew Charters has resigned his position on the board and has stepped down as CFO. He will remain with the group during a transition period, it adds.

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1 Apr 2022 16:08

Simec Atlantis gets £2.5m Scottish Enterprise loan for tidal project

(Sharecast News) - Simec Atlantis Energy announced on Friday that its majority-owned MeyGen tidal project has secured a non-convertible loan of £2.5m from Scottish Enterprise.

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1 Apr 2022 09:56

AIM WINNERS & LOSERS: Quiz shares in style as sales top expectations

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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