The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I would still like a capex figure so the market can determine just how huge the profits could be.
Tring - Do we think the landowner will wait for the next auction without charging rent? I would imagine Corcel have to speak with the landowner on what to do next. A disposal may also be possible - sell the rights to the connection to another party who can afford to wait for the next auction?
I wonder if SK will RNS the auction result and confirm a party is now ready to complete on Avonmouth?
"To allow discussions with potential funding providers additional time to conclude, both parties have mutually indicated that they consider the existing agreement and rights extended, though no formal extension documentation has been executed at this time. "
Avonmouth - I believe this is the site where Corcel and the land owners consider the lease to have been extended, but have not signed a formal agreement. Fingers crossed the land owners don't start being awkward post auction.
This is the link from google: https://www.emrdeliverybody.com/Capacity%20Markets%20Document%20Library/T-4%20DY%2025-26%20Provisional%20Capacity%20Auction%20Report%20v1.0.pdf
There are things SK can do:
1. Resign from RRR and his other directorship to demonstrate he sees Corcel as his career defining achievement.
2. More share purchases with his generous salary. He must have some money spare?
3. Update the website so the number of warrants outstanding are clear.
I feel the same. He was either lying or a promising potential finder pulled out.
He chose the lesser of two evils by creating a floor (and brake) with warrants at 1.5p rather than a placing at 1p. So for that I am marginally grateful.
It appears he is looking after Align first and foremost and forgetting his PI base.
How do you explain that we are not far off from March yet SK was very bullish just before Xmas? It took months for it to be teased out of him that Burwell had issue(s).
I am a holder and I think this will come right, but I would rather he didn't set expectations to then miss his own time frames.
It would be nice to show his commitment to Corcel if he resigns from RRR as well.
With my cynical hat on, I would say SK did that interview in December to raise the share price to get a traditional placing away. That did not work, hence the announcement today.
I would be surprised to see financial close by the end of March 2022, but could be wrong.
The only good thing while we wait is that it does not look like there is volume in the background indicating a placing.
I am hoping that is a sign SK expects completion and cash soon.
We will see if I am clutching at straws or not.
I see SK has not posted on the company Twitter account for a while. This is unusual for him. Hopefully he is busy with value added activities that will improve our wealth : - )
I would not want to be in his shoes if what he said in the December interview does not come to pass. He has raised expectations, including mine, very high.
Thanks Hedgehog, it was the timing that fooled me.
I suspect they will keep rolling forward these debts year after year as a way of issuing cheap warrants to those who support the company.
Then they will use development fees to recycle into new projects and demonstrate regular flows of income to borrow for DSO for Mambare.
Hi Hedgehog, at the year end June 2021 I can see debt relating to YA and Riverfort, which has been dealt with today.
There is a further £65k under short term liabilities. I am struggling to see an RNS since 30th June 2021 stating CRCL owe Align £500k. Nor can I see it as a note in the accounts.
Can you help enlighten me? My apologies if I have made an oversight.
It is interesting that: 1) James Parsons wanted shares and reasonably cheap warrants, and 2) current debt holders allowed Corcel to rollover the majority of the debt.
If prospects were bleak I don't think this would have been achieved.