Member Info for chilting

I guess AAL is a no no for most politicians because of AAL's coal mining interests.

There was no request by SM for Government funds to develop the mine - that would have been bad use of taxpayers money.

The Government were simply asked to provide guarantees - as a guarantor - these should have been provided because the project was so important to the UK economy over such a long period of time.

"I'm afraid you get the government that you vote for. Only one political candidate at the last election went on TV and explicitly pledged support for the Sirius project..."

Totally agree - they are more interested in kissing babies - and more qualified - than actually making meaningful decisions - we have no technocrats in Government just career politicians and the civil servants are blinded by red tape.

RuSirius
All the PR and the spin wasn't just aimed at investors - it was aimed at the locals, media and politicians.
I still maintain that the project didn't get the political support it deserved - in any other country of the world their Government's would have backed this to the hilt - in this country we seem to have a total blind spot when it comes to promoting new enterprise. Investors from other countries didn't understand why the Government were not offering guarantees, took it as a big negative, and walked away.

This strategy does work - although I increased my Sirius stake beyond what I should have done - I am now back to break even on paper after the September drop - the trouble is that my profits have gone.

In his interview AB said that low sulphur was getting a "3 digit premium in some places"

Low sulphur oil - "3 digit premium"!!!

https://www.cnbc.com/live-audio/

now

Quite a day - offer price closed at £4

Hindsight is a wonderful thing and looking back its quite easy to see when things started to go wrong - it was the result of the cost overruns announced on 6th September 2018 and all the delays that caused to stage 2 funding - following this the failure to get Government Guarantees meant the bond issue was never going to succeed.

The fall out was the inevitable collapse in the SP that has led to the current position of takeover or bust.

As to the SM board they have been just as much a victim of events as we have - you could argue that they could have done more but they have kept the project going and it does look as though the mine will be built - also we have got back some of our investment - but it was never going to be much with the SP falling and so little cash left in the Bank.

Personally I think it is pointless trying to pin blame anywhere - simply sell up and more on - a basket of investments rather than one stock is the best policy.
All the best - Peter

I wonder if Richard Griffiths cashed out - his shares could have made up more that 50% of the number Bosch brought.

The technical analysis is worth a look - its not all doom and gloom - we need to stay clear of the pivot point though.

http://uk.stoxline.com/q_uk.php?s=ENQ

The news this morning that Ceres and Bosch are to extend their collaboration has to be very positive for the whole industry and should benefit ITM somewhere along the line.
This is from this mornings RNS issued by Ceres -

"Broader Purpose to develop complementary clean energy technologies - electrolysers for H2 and e-fuels
This additional funding will enable Ceres to invest in additional R&D activity to apply its technology as a Solid Oxide Electrolyser (SOEC) to produce hydrogen and e-fuels. Electrolysis with Ceres' technology could use low cost electricity and, unique to higher temperature electrolysers, waste heat to convert water and carbon dioxide to high value chemicals such as hydrogen and other synthetic transport fuels, precursors for fertilisers and replacements for other petrochemical products. High temperature electrolysis can potentially play a significant role in the decarbonisation of the "hard-to-abate" sectors like steel, other industrial heat consumers and even aviation. The Board believes that there is significant future value associated with this opportunity.
The Company has already run early stage tests in this area with encouraging results that could lead to the Ceres technology being sufficiently differentiated from other electrolyser technologies."

This part of today's RNS is very interesting -
"Broader Purpose to develop complementary clean energy technologies - electrolysers for H2 and e-fuels
This additional funding will enable Ceres to invest in additional R&D activity to apply its technology as a Solid Oxide Electrolyser (SOEC) to produce hydrogen and e-fuels. Electrolysis with Ceres' technology could use low cost electricity and, unique to higher temperature electrolysers, waste heat to convert water and carbon dioxide to high value chemicals such as hydrogen and other synthetic transport fuels, precursors for fertilisers and replacements for other petrochemical products. High temperature electrolysis can potentially play a significant role in the decarbonisation of the "hard-to-abate" sectors like steel, other industrial heat consumers and even aviation. The Board believes that there is significant future value associated with this opportunity.
The Company has already run early stage tests in this area with encouraging results that could lead to the Ceres technology being sufficiently differentiated from other electrolyser technologies."

Exciting times!
Overall about 9% dilution but the advantages far outweigh any short term reduction in the SP.

Basically we a waiting for clarification of the cash position, then it is just a case of how quick the product uptake is - assuming all goes well I don't see why the SP won't rise to about 6p by the end of June.

I think that we may have slightly overestimated the load size - it will probably be more accurate to measure loads at 500k rather than 525k - generally though our observations are fairly accurate.

NO is on her way to Rotterdam with a draught of 12.8m - so probably around 500k.

The hook up finished at around 10.00GMT - 25.5 hours - although AIS is unclear.

Yes, certainly oversold - with the market and Brent down today it will be a good test of resilience - hopefully we will regain most of the losses.

In hindsight it was the failure of the bond issue and the Government's decision not to back it with loan guarantees that was the end here - pure and simple.
The resulting fall in the SP reduced the market cap to such an extent that in reality a takeover was the only remaining option.
The reality of the situation is that this takeover offer is the only alternative to administration.