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The temporary permit has run out. They need another or else a permanent one. Possibly were refused additional temp. permit.
My guess is they're filing for a 70k tonne per year licence and working on the specifics of financing it, given all the chatter about 70k tpy in latest RNS. While we all sweat on the sidelines.
10 weeks tomorrow since the update in Maine. No news since on the permit or moving the reactors.
I've requested updates as I'm sure others have too, but nothing.
I'd seriously love to know what they're doing all day long in AEG.
The fact we have Player on our side does give some confidence at least, maybe we'll hear something by year-end?
@Pete any update on your idea to have our CEO given his marching orders ?
In fairness to Pete, he has a point!
We lost our Lumberton permit because of Rowan, or, decisions made on his watch.
For anyone who didn't read the correspondence fully, the antics Rowan pulled were illegal & are subject to possible civil penalties (fines) and also criminal penalties.
We literally have a fully operational plant lying idle for about six months now. Imagine where we could / should have been, if Rowan hadn't ordered the fabrication of un-permitted items. The Pacificorp test burn would be complete, tonnes of product would have been produced and sent to potential customers etc.
We would likely have had off take agreements and fulfilled orders by now too.
I am pro Coalswitch, but anti Michael Rowan. He really is a waste of space.
Every CEO is entitled to make their mark and prove their worth. Rowan has had time to make his mark and has failed. Any other companies CEO that failed as miserably as Rowan would have left by now.
It is time for him to step aside.
Hey Bagga,
You can check for Maine permits via link below. I've been keeping an eye on this.. Just type in 'Player' into the keyword search field. Fairly certain this is where fully licenced permits are made available to the public to view. Hence the temporary permit is not visible.
There is a 2nd area you can search, for major permits, 2nd link.
https://www.maine.gov/dep/air/licensing/minor-source-list.html
https://www.maine.gov/dep/air/licensing/major-source-list.html
They've burnt through that cash already & don't have enough to survive another year.
They fabricated items in Lumberton without permission and that resulted in the Environmental division of air quality nullifying their existing permit until a time additional emissions data has been provided & reviewed. The plant has been sitting idle all year.
They built a 2nd plant via a joint venture & that plant broke down and also no longer has a valid permit to operate. They last update us 2 months ago on this. You can read in it RNS.
So in a nutshell, we have little cash, 2 idle plants (1 broken) and no permits to operate the plants.
https://www.alphaprospectsplc.com/2021-news-archive/australia-supports-new-shipping-technology/
Might mean this, 2nd post in..
https://uk.advfn.com/stock-market/london/active-energy-AEG/share-chat
Welcome Callan,
What we need/hope for is the below:
Permit granted to operate the Plant in Maine (temp. or full)
Reactors moved from Lumberton to Maine for production to commence.
Data from production used for permit reapplication in Lumberton.
2nd permit granted.
License sold to 3rd party (to fund reactors for Lumberton)
Additional reactors manufactured.
Completion of the Pacificorp test program.
Off take agreement from Pacificorp (or anyone, but the larger the company the better)
Maine reactors were old ones:
"The Company was already analysing the performance of the reactors, which were originally from Utah"
https://www.lse.co.uk/rns/AEG/statement-on-ashland-facility-qvjdeeycblxp970.html
Hi Djp57 & thanks.
I'm not in as of yet, but will wait for after results to be published. I am intrigued and do see the potential.
HorsesGob, well I suppose it will depend on how much revenue drops.
Thanks all for your replies. Wish you good luck here!
Hi all, 1st time posting on Napster board. I've been digging through RNS and noticed something alarming in the Full year results posted 28th June this year.
2nd quarter results may come as a shock. I wouldn't be surprised if the share price drops on release.
Thoughts?
"The Directors expect that, until the launch of its new music platform later this year, the Group will continue to experience a reduction in revenues generated from its music streaming service and will continue to be loss-making. Whilst the Group has adequate resources to fund operations up to and beyond end of 2021, the management of working capital is critical during this period. "
https://www.londonstockexchange.com/news-article/NAPS/full-year-results/15034356
"Independent analysis and feedback from prospective customer testing of the CoalSwitch product produced by the Ashland Facility indicates that the product being produced is of a superior quality to white pellet in terms of heating value and bulk density. "
It would be interesting to know which customer gave this feedback, alongside the University. Is it from Pacificorp or some other company?
Happy to be getting updates, although a little more insight would be helpful.
So glad I use filters here now and can't see those posts about 5 years ago by RB & PF anymore.
@aladdinsane, I don't expect to see ScoutS again, that profile was reported multiple times for breaches of T&C's ;-)
I think it's completely up in the air.
The company could fail and burn or rocket into stardom. Licensing is after all the holy grail of 'free' money.
I couldn't predict a fair Mcap, although share price action could prove parabolic if everything lines up.
Personally I don't see AEG going into mainstream production in the next few years based on their typically slow approach to get things done. That said, I do think having Player on board has lit a fire under the boards backsides. I feel this is helping keep them accountable and moving things forward at a quicker pace than before.
Assuming permits are granted and both plants get up and running I would anticipate 2p - 2.5p given that we were at about 1.8p on the news of the Pacificorp order with one plant (almost operational).
What happens next is anyone's guess.. License from Japan? Recurring order from Pacificorp? License from Pacificorp?
If Pacificorp order or take a license. In my opinion it will serve as market validation for the product & see a massive spike in the price. It will lead to more large scale coal users to consider the product more readily and bring Coalswitch into the media's immediate attention .
I imagine there are a lot of individuals / companies eyeing this up and reluctant to invest until something solid emerges.
If all the above panned out seamlessly, I wouldn't be surprised to see 10p per share or more, at least for a short period.
That's my point, AEG can't produce mass quantities (Or any right now), and scaling up to service all Pacificorp coal plants, if that was in the pipeline, would be a gargantuan task for them. And with past experience, likely to not go so well.
Therefore, doesn't it seem feasible they would take out a license, and not rely on AEG for product.
Just a thought..