focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Hi Wolves
I usually have a peek at the site about once per week and will post when anything interesting occurs.
To recap - since Planning permission was granted, about 30m of drainage ditch liners have been staked in. A vehicular gate has been installed on the rear access road (the old Marsh Lane), and a fenced hard standing area has been constructed adjacent to Plot 10b (presumable for parking/ material storage).
All this was done up to the Covid lockdown time, with no further work completed.
Work on the sub-station, about 200m from Plot10b, has been progressing nicely over the past few months, but no services or trenches have yet been installed for the connection to our plot.
Will update as things develop.
I was down on the site a couple of days ago and there has been no further progress on Plot 10B, since I last updated, certainly no camera in place.
The work on the sub-station is cracking on, with all kinds of electrical structures and two sizeable outbuildings being erected.
My understanding is that we need financial closure on Protos before any significant construction work on Plot10B begins.
Will keep an eye on it though.
Good to see a steady recovery in the sp from the recent 2.80 ish lows.
Now that we have the turmoil of the W2T takeover out of the way and the strengthening at director level, over the next few months we should see the company making some serious forward moves, in terms of more UK planning applications for DMG sites and international development.
A little disappointed that Protos construction start date could be in the new year but we have waited this long another couple months is not much to ask.
Once we have the FOAK up and running to practically demonstrate the commercial potential then the pipeline of DMG orders should fill up nicely.
Feeling a tad privileged that the planned FOAK is practically on the doorstep.
Excellent news this morning with funding for international development and further financial commitment from Peel.
Its apparent from the market reaction this a.m. that there is a significant loyal and committed shareholder base that are rooting for PHE's success and therefore the only negative for me was that there was no opportunity given to existing shareholders to participate in the 2.5p offer.
Anyway, the ducks are lining up nicely and confirmation of financial close on the Protos project should be next in line.
Regarding Protos:
Sub-station development cracking on apace with the second outbuilding approaching completion and with a myriad of steel structures being erected with all kinds of ceramic insulators (Not seen the big On/Off switch yet, though).
On the actual plot we have a new gate on the rear access road to the plot but no fencing yet, so you can actually walk around the gate.
Would assume that with financial close we will see initial groundworks commencing.
Will continue with routine walks and bike rides through Protos.
I was under the impression from the original "Acquisition" RNS that 87.5 % of the acquisition shares were subject to a 12 month lock-in period and subsequent, orderly market disposal, condition. i.e 12.5% of the shares issued were not subject to these conditions.
The section in the circular "Lock-In Deed" refers to the stated conditions but not the originally stated proportion of shares.
Question is, has the stated 87.5% been rescinded or have we approx 180m shares that could be being disposed on the market.
Mentioning this, as there have been quite a few large "blocky" sells going through over the past couple of days, which may be driving the price drop.
Try again with link:
https://www.powerhouseenergy.net/research-analysis-following-acquisition-of-waste2tricity/
Interesting research paper now on the PHE website suggesting 6p/9p/15.3p forecast, dependent on developing the leads in UK/UK, Japan, Australia/ Uk, Japan, Australia and Europe.
Food for thought.
powerhouseenergy.net/research-analysis-following-acquisition-of-waste2tricity/
At last, the circular is going out to shareholders - well done to DR for sorting, what appears to be, poor quality admin of who owned what shares and when.
All too easy to view this merger/takeover as a typical AIM/stock market deal and try and value W2T and then justify the number of shares issued for the purchase, but it is anything but typical.
IMO, its a "door opening deal" or an enabling deal that, I think, Peel have insisted upon to clear up the structure of the existing tri-party set up, to clear the path going forward.
If/when the deal goes through it will confirm the grant funding and financing arrangements with Peel and then its full steam ahead at Protos and the other Peel partnership sites that are being lined up.
It could be viewed as an Indianna Jones type deal, where we need to open the trap door to release the spikey ball thing to get at the valuables that lie beyond - just a matter of dodging the spikey ball, ha ha !!
Having spoken at length with DR at the local community events here, last year I am sure if he could have done or effected a more shareholder friendly deal, he would have done. This is because he has changed from the KA strategy of ownership and revenue, which would have continually diluted the shareholders, and gone to a recurring annual fee and third party funding approach, which to my mind will significantly reduce future dilution.
We need to suffer the short term pain from the spikey ball, this initial 1.4bn shares, then IMO, we are heading out of the woods towards some significant company growth.
Bloody peeing down here today, so no chance of getting out to site today.
Stokey:
You don't do irony, Stokey?
Can't say I've noticed. (irony)
Not been down to site for a week or so, but last time the sub-station was coming on a pace but not much regarding the actual plot itself.
Will have a scoot down over the next few days and will let you know.
Just found a new map ( to me ,anyway) on the Protos website, showing available and occupied plots.
Plot 10b is listed as occupied by Peel Environmental and Powerhouse Energy.
https://www.protos.co.uk/site-availability/
Just found a new map ( to me ,anyway) on the Protos website, showing available and occupied plots.
Plot 10b is listed as occupied by Peel Environmental and Powerhouse Energy.
https://www.protos.co.uk/site-availability/
Kenny:
Just noticed your recent post re: sub-station work on the Protos site.
The massive (to me anyway), ceramic insulators are in place and what appears to be the four concrete bases for what I assume will be the new pylon legs.
Adjacent to the sub-station work there are sections of steel meccano, that should take on the appearance of a pylon when assembled.
Excellent "State of Play" RNS from DR emphasising where we are on a financial and operational basis. Negative vibes nicely nipped in the bud, and the MMs assumed it was a standard "speeding ticket" style of RNS.
4p just touched, good to see.
Hydrogen:
The head office may be in your vicinity but the first commercial plant will be in my back garden................
well kind of.
Cerea:
We get a couple of naysayers on here occasionally, too but oddly enough not been seen recently.
Rather than putting too much emphasis on BBs I would suggest looking into Peel Environmental, who are in partnership with PHE, albeit indirectly at the moment, and their plans for plastic parks.
Also have a look at "This is Protos" where the first commercial plant is to be built this year.