Member Info for iWantThatOne

Results out tomorrow at 7am CET (6am BST) with live presentation at 7am BST. Crossing fingers for good progress.

Ghana is a bright spot - >$1m revenues in H1 from 1m containers that are expected to grow to 3.5m by the year end. At that level we might expect $7m revenues in a full year. Add back Lunghi at full capacity and the guarding that has dropped off due to office closures and things should look quite decent. It remains to be seen how long the fever screening etc will continue. Give PF some credit - a business like this that is making profits in a Covid environment is doing alright. By the time the CLNs are paid off next year I think this could be a good little business.

Thx. I bought into McPhy partly because it was just 1/10th the mcap of ITM, which seemed crazy at the time. It looks more reasonable value now to me.

The electrolysis angle needs further explanation. So AFC is now in the electrolysis game, along with the biggies out there? Or is this just a niche thing? I note it's "micro" electrolysis.

Great PR! "Contract reflects an initial one year agreement with a down-payment payable upon order, and subsequent payments recognised when equipment is made available reflecting the unique nature of this showcase series."

What are they saying, DS? I’m just enjoying the ride at the mo.

Pretty pleased with the results today, all moving in the right direction. If I were picky I might say that there's not much evidence of a lockdown bonanza, in that the H1 EUS is little above H2 2019 and "only" 50% above H1 2019. It's also possible to infer that the average EUS fee has gone down a tad, though its not possible to say by how much. That could well be due to good growth by lower fee-paying partners such as Amazon Japan. But I like the comments that BGO is moving beyond traditional telco companies, the number of developers using their data audiences has quintupled and that they expect to hit forecasts for year-end.

Athansius, but the Acciona trial is solely to give Acciona confidence in how the system works. AFC already know this, so it’s not a “trial” in that sense. And of course other construction companies equally may want to do field trials, possibly on a quicker timescale than Acciona. I suspect you’re right that diesel gender replacement revenues will only happen next year but we might be pleasantly surprised.

That looks very racy to me Pensioner given that Audiens revenue won’t be counted as before, instead the value of business will be reflected in the balance sheet. I can see the payments revenue being significantly more than 2x last year though.

Ceres (CWR) have been talking today about their apparently successful tests to use their fuel cell technology in reverse for electrolysis purposes to produce hydrogen. We know this is massive at the moment, with all electrolysis companies (NEL, ITM, McPhy etc) flying high and with the EU hydrogen strategy announcement yesterday pointing to a huge increase in electrolysis output needed. Didn't AB talk about this some time ago, and does anyone know where it got to?

Bananaman, I think you’ll find the regulars on this board collectively own a lot more than 1% of the company. When ChippyJo was gathering details a year ago we got reasonably close to 10% I think? It’ll be less now but 5% is probably close.

Mcap £31m, cash £8m+, EV £23m, EBITDA £4m, EV/EBITDA about 6 - seems cheap to me. Generating good cash, all upside from here in my view.

There've been lots of really good posts this weekend on potential strategic partnerships involving taking stakes in AFC, but fewer on the rationale and benefit to AFC of this kind of arrangement. If de Nora determine that Alkamem is a superior product for water electrolysis, for example, it could just place lots of orders for Alkamem. And that may be what AFC prefers. Same with the electrodes de Nora have been testing for several years - de Nora will already benefit as the manufacturer. How about a mass manufacturer of the BoP and other components? Same - just sign a manufacturing contract with them. So my question is - what are the scenarios where AFC will think that having a strategic / minority equity investor is to its advantage? Perhaps a case of someone that can open up new markets to the benefit of both companies; or where together they can offer a compelling solution. I'm not convinced de Nora is the only name in the frame.....

So they've just voted themselves some more options - nice work if you can get it. "Darling, i really do need a new car, what do you think?". "Don't worry lass, I'll just sort out some more options and then put out some good news...."

Fair comment, TBTT, though I've just re-read the comment in the RNS and it does imply to me that the bulk of the excess cost is Covid-related: "We continue to experience cost pressures related to COVID-19; particularly employment costs and logistics costs coupled with, potential, extra material movement later in the year as we look to take advantage of higher gold prices and re-sequence our mine plan to ensure the long term profitability of the mine. These factors may contribute to as much as an additional US$100 per ounce in our 2020 ASIC....."

HUIM said the AISC would increase by up to $100/oz due to Covid - so well over $900, surely? I'm not quite sure why the increase is so high, especially considering the cost of diesel will have gone the other way and must be a fairly significant item. Still, great to be back in the 30's.

That's a very good spot, Pepe and Richlist, I'd missed that detail. I'm tempted to vote against that resolution unless there is more information forthcoming about the purpose of any further fundraising (bearing in mind they've just raised £30m for their immediate needs) and general company progress. I don't like blank cheques.

Just tuned in to see a relatively heartening share price. I was half expecting to see 16p, though 23p is arguably fair value (yesterday's 19p before the news kicked off plus 4p+ per share from the new cash). I hope that will soon be exceeded, given the new optimistic outlook.

A comforting RNS today in that the funding is there to take the machines through certification and well into production. The comment that some of the funding is intended to advance the manufacturing of "up to 30 systems" shows confidence and is a little hint that things are heading in the right direction, I think. Unfortunately the $30m Nerano loan is convertible at 25p at Nerano's discretion, so that will be quite a bit of dilution in due course but can't be helped I suppose. We desperately need a technology update to inform shareholders where things have got to (though the very fact of this funding having been agreed must point to the relevant parties being satisfied on that score).

Very good news today. Whilst the plan still seems to be for a stand-alone plant at Sanankoro, sending a big batch of concentrated ore to a nearby mine could give a good slug of early cash flow that could reduce the need for equity or debt funding. It won’t be HUM imho as their plant will be at capacity for some years.