Member Info for chilting

No fuel cells - the aim here is to cut out diesel - this is technology that is available now - next step fuel cells powered by hydrogen.
https://www.iveco.com/uk/products/pages/gas-engine-stralis-natural-power-truck.aspx

23.5 hours and counting.

Meanwhile in the UK - Ocado have now switched away from diesel at their Hatfield depot to HGV's powered by natural gas - they have installed an onsite gas refuelling station.
Certainly a step in the right direction.

https://www.commercialfleet.org/news/truck-news/2019/01/08/ocado-opens-natural-gas-refuelling-station

https://uk.reuters.com/article/uk-iraq-security-rockets/three-rockets-fall-inside-baghdads-green-zone-no-casualties-sources-idUKKBN1ZJ29J?il=0

There is a case for saying that small oil companies shouldn't pay a dividend at all but instead invest all they can in managing and developing their reserves to offset any dips in production. Maybe Tullow made this mistake last year when they paid a dividend.
Revenue drives the SP - investors should base their investment decisions on current performance and future expectations - this is much easier if production is fairly constant.

13.5 hours and counting.

So who is to blame or is it simply bad luck that SM couldn't raise the funds to build the mine - would we have got there if the Government had offered loan guarantees - or was the project simply to ambitious for a start up with no income.

One thing is for sure - the market punishes failure by pushing down the SP and when that happens there is no way back - its massive dilution or a takeover, simply because the market cap is so low - but consider what a part built mine with no income is actually worth?

Now we have an offer - a get out of jail free card - at least long term holders can recoup some of our capital - the offer isn't actually to bad - a good premium to the start of year SP and it seems the mine will be completed - its just a shame that we won't be a part of it.

The past track certainly confirms hook up now - AIS is poor so it is difficult to be sure of timing but 08.30GMT still looks about right.

The wave height limit for hook up does seem to be 4m - as you can see we are well below that this morning.

https://www.windfinder.com/forecast/viking_north_sea

NO is probably hooked up now - AIS is poor - hook up at 08.30GMT seems about right.

Not quite there yet but should be within the next 30 mins or so.

No hook up today - NO is now 39 miles to the north west of AK - weather is ok.

NO is still 16 miles to the south west of AK - no sign of an immediate hook up, but NO is well positioned for later this morning - weather is ok now and getting better all the time.

It seems that Honda don't see a short term future for hydrogen fuel cells in cars, but they certainly do for freight - hence the Honda and Isuzu deal.
So it could be that we will see hydrogen powered commercial vehicles - including buses - on our roads first with a developing network of hydrogen fuel stations - in forecourts, commercial locations, bus stations etc.
Then when that is established the second wave would be vans and then eventually cars - so yes you can see Honda and VW's logic they have to supply vehicles that they can sell in the short term.

ffcmember
No, I have no position here at all now.
Its just that these institutions are still buzzing around - some with long positions - some short - some both - they must think that there is money to be made.
The City seems to think that 5.5p is a fair offer so I don't see it being topped but if they decide that they don't need to pay that much then they will reduce it - that's why the institutions hold short positions.

By gaining control I mean holding all the cards - no other bidders - SM recommending acceptance - Institutions willing to sell at a certain level that is clouded by their long and short positions.

Yes, if they hold the majority of the stock they don't need to offer full price for any remaining shares.

Or if they think they can gain control - probably by talking to the institutional share holders - they can reduce their offer price.

Forget what's ethical and fair this is all about screwing share holders.

The 5.5p is very much the city's valuation for SM - in other words what AA expect to have to pay to gain control with institutional and market selling - we will see if they are right.

If they cannot gain control they will have to increase the offer or walk away - if they gain control they will probably reduce the offer price.

Its all a gamble - no one be sure what will happen - best to sell now and move on - but that's very much a personal decision.

AIS has picked up NO about 17 miles to the south west of AK - travelling at just 4 knots -no sign of a hook up yet.

Scotman
Contrary to that it could be that AA are buying SM as a package with CF at the helm because they are convinced it is viable - otherwise why would they consider the takeover - CF could end up not just delivering the mine project but with a seat on the AA board.

The deal between Ceres Power and Weichai in China is worth watching - they are working on a steel cell range extender for buses that runs on natural gas. Ceres fuel cells can also run on hydrogen. An update is expected soon.

https://www.cerespower.com/news/latest-news/ceres-power-and-weichai-finalise-strategic-collaboration-and-jv-agreement/