George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Colin didn't say that. Malcy did
A wise man once told me "don't argue with an idiot, he'll drag you down to his level then beat you with experience"
@Sparky - you'd do well to remember this when engaging with those 2 fools on ADVFN too
https://www.ofgem .gov .uk/publications/renewables-obligation-guidance-suppliers
The reason there is a charge for it is because its not aimed at retail investors. Its for those with deeper pockets and will be given out on an invitation basis.
There is only one person/entity that will know what the ROC fee is, its YU - if anyone wants to make a stab at how its calculated, feel free - this is how to do it:
1st April - 31st March 2022-2023
Buy-out price £52.88
Obligation for England and Wales and Scotland (ROCs/MWh) £0.491
From 1 April 2018 onwards, a supplier's obligation is set using the formula below:
We will round a supplier's obligation to the nearest whole ROC, with any half ROC rounded upwards.
“Relevant electricity” is a term introduced by the Renewables Obligation (Amendment) (Energy Intensive Industries) Order 2017, 9and generally a supplier’s relevant supply volume under the RO (G) will be: G = (B + C + D) – F
Where:
Supplier obligation = (ROCs) total relevant electricity x supplied (MWh) (G) x obligation level (ROCs/MWh) 12
B = supply to customers connected directly to a licensed distribution network
C = supply to customers connected to a licence-exempt distribution network
D = supply to customers connected directly to the transmission system, and
F = supply to Energy Intensive Industries (EIIs) which is exempt from RO costs (referred to as ‘EII Excluded Electricity’).
EII Excluded Electricity
A prospective EII must apply to BEIS, who are responsible for assessing applications for EII certificates. If appropriate, BEIS will issue an EII certificate stating the percentage of electricity that is EII excluded electricity. To calculate the level of the exemption, BEIS multiply the proportion of electricity consumed from the meter by the eligible business to make eligible products by 85%. The EII should provide this certificate to their supplier to get a reduction in energy costs. More information on EII eligibility and certificates can be found in BEIS’ ‘Guidance for applicants seeking a certificate for an exemption from the indirect costs of funding Contracts for Difference (CfD)’ , the Renewables Obligation (RO) and the small scale Feed in Tariff (FIT)
Margin will be nowhere near 15%, last year it was 7.8%. Bad debt provison was 0.9%
I read that article on yahoo when it was published on Saturday - utter garbage so I didnt bother posting. Lies damn lies and statistics.
It does however demonstrate how important it is to do your own due diligence. I've done mine & very happy with my investment
Someone dumped 200k shares - 1.23% of the entire float, I wonder how long that took to work through
Gazprom UK is owned by Gazprom Germania which is being taken over by the German government.
I like to keep my feet firmly on the ground and wait to be surprised by the upside - which I am certain will happen
Just to follow up with some fantasy forecasting for the half year:
Lets assume the booked revenue for 2022 is all they get - £157m
6 months is £79m at 7.8% margin (from last year interims) = £6.2m
Bad bebt assume stays same at 0.9% = -£0.7m
Admin same as last year in cash terms = -£4.5m
Profit (real profit) = £1.0m
Now add in further bookings (lets assume they get to £200m full year revenue, not all equally spread over the year) - so say another £12m in H1 at a net 6.9% margin to take account bad debt provision, thats aonther £0.8m straight on the bottom line, so you can see how this is going to grow.
Just to follow up with some fantasy forecasting for the half year:
Lets assume teh booked revenue for 2022 is all they get - £157m
6 months
YU didnt 'generate' £4.5m of profit, it was all accounting profit - none of it sustainable, i.e. trading profit - and thats the issue
As I have said before, all that is needed now is patience, all overhead costs are semi fixed, I dont think we'll see a significant increase this year, what we WILL see is a significant increase in revenue - and the margin that comes with it - which will generate trading profit, which will light the fuse and we'll see reall SP appreciation. In fact, I would go as far as saying if YU report a profit £1.5m or greater at the interims, they may even declare a dividend.
To me, that would signify the turnaround is complete and we'll see a real re-rate.
My thoughts on this:
The offer will come from Singapore, Henry is buying on their behalf (informally), they swoop for what they need to get to 30%, Henry 'agrees' to sell his lot to them, Singapore have >50% secured and its good night Vienna
No one is going to launch a hostile takover - for a hostile takeover, you make a raid for 20-30% of the shares, you speak to other major shareholders to make sure they will sell you thiers and then you go for the kill. Bobbys 54% prevents that EVER happening
The broker cant even get the date on the report right, I wouldn't trust them as far as I can fart.
Overheads have decreased as a % of sales, but in absoluet terms they have increased. Whats important is that the RNS states that they can support higher volumes of business at this level (I read the RNS first thing, I forget the exact words)
Now assume that revenue is going from £155m to £210m and 5.6% of of £155m is being spent on admin, and they can support higher sales - I would argue (with a big pinch of salt) that the additional £55m won't attract admin costs, so 5.6% of that will go straight to the bottom line - so a nice fat £3.1m profit next year at a minimum. Trading profit, not the accounting profit they produced today.
All will become clear at the half year trading update. Did someone say that's when the real fireworks will go off? Oh yes, it was me....
This mornings RNS says net Profit £4.5m.
That its after £1.1m tax credit and £3.3m gain on derivatives, hence (IMO) the muted SP reaction. A close nearer £3 today would be a result. I would argue, the real fireworks won't be lit until the interims if YU can prove that some of that gross margin falls through to net profit - and if you read the results, they are scaled up already for more revenue so that should flow through to the bottom line - hence my assertion that we're 6 months early for the real SP value to be realised.
I'm going to go with £2.5m - so tomato, tomayto Sparky.
HOWEVER - could YU declare a dividend? 1p would cost 160k ish, but would signal clear intent.
Is that feasible and what effect would it have on the share price. Discuss....
YU gets £142.4k out of the £1.8bn. Largest single amount goes to Octopus (£681.4m)
Source bnnbloomberg.ca
UK govt makes same mistake as Bulb by failing to hedge - you couldn't make it up....
A quick comparison of balance sheets will tell you why there is a valuation difference between GOOD and YU
GOOD has Net Assets of £32.4m vs YU£4.5m
You cant take one element of the balancesheet in isolation (e.g. debt)
To the moon? :)
approx. 9.00mins "we are going to IPO this company late this year" - ECO renewables. Did I hear that correctly?