Member Info for LedZep

Queried the commissioning date with DR (trust he is ok with posting this), response as follows:
"Not sure where the data came from as it is not from me – the published plan will be to go to commission on power target Q1 2022."
So rest easy.

The Q4 2022 for commissioning of the Protos plant needs to be a typo or else it is totally at odds with page 6 of the slides shown during the Vox markets webinar, where completion and testing are indicated during 2021, with no mention of 2022.
Some slippage from this was indicated by TY during his US interview when he suggested Q1 2022 for completion/testing.
If this has now slipped further to Q4 2022, then it needs clarification from TY/DR.

YarYar:
Did I say it did?
Seeing as you made the point though, I would say it would, in a negative way, without compensating buys.

Dave : totally agree, that was my thinking too, seeing as there was a 1.2m sell earlier in the week and the residual 4.8m is nicely divisible by 300K.
Should churn through them soon though.

Some are happy with the tweet - quite a few biggish buys going through since 9.00 a.m. but there is a persistent 300,000 share seller we need to dispose of.

Hi Piltick:
Trying to put a map into words is somewhat difficult, but basically your post of 13.42 is correct.
Using : https://www.protos.co.uk/site-availability/
The roads (blue) on this diagram are an amalgam of existing Phase 1 i.e. completed and planned Phase 2.
The phase 1 completed are :
- the " access route" through the Grinsome roundabout and on to CF fertilizers.
- the left exit off the roundabout between Plots 10b and 10A as far as the entrance to Plot 3.
- the righthand spur between Plots 10B and 4 as far as entrance to Plot 8.
All the remaining indicated roads will be Phase 2 development.
The offshoot road ( which we will need for access to Plot 10B) that runs between Plot 9B and 10B/13 and alongside Plot 9A is presently a gravel track which was part of the old Marsh Lane bridleway that heads to Frodsham.
So PHE need this offshoot made permanent, as do Enviroo (Plot 13), and PHE need the indicated spur of this offshoot to Plot 10B itself.
Hope that makes some sense.
The video below shows Marsh lane bridleway heading between Plot 9B (on left) and Plot 10B (on right) and towards Plot 13.
https://www.youtube.com/watch?v=N00WTfibdFs&t=13s
Plot 9B was then empty but now has 57 portacabins on it.

Forgot to mention - quite a bit of "Protos Phase 2" signage newly erected on the approach roads.

DR. A. - regarding your post at 8.16 last night.
The situation regarding "access roads" on Protos from what I have seen, is that there is significant activity now in what appears to be an extension of the Phase 1 access road, that will give the alternative access to plot 8 (Covanta).
From the site availability diagram (link below), this will run from the N.E. point of plot 10A, between Plot 3 and Plot 4, turn right at Plot 5, and subsequently access to Plot 8.
https://www.protos.co.uk/site-availability/
There is no activity yet on our "little" access road to Plot 10B, which will be an offshoot of the existing Marsh Lane bridleway, which when permanent will run adjacent to Plot 9B, give access to Plot 10B and Plot 13, and then run round to Plot 9A, and then (I assume) go back to the old bridleway that goes to Frodsham.
Plot 9B is being used as a storage compound and now has 3 tiers of 19 portakabins (57 total) now having services plumbed in. This is in addition to about 15 cabins also being fitted out (Sisk) on Plot 11, just off the traffic island.
So.......... quite a lot of preparation activity happening at the moment and I suspect it will soon become a frenzy of construction, to keep all the anticipated manpower busy.
Personally, I dont subscribe to the "Peel dragging its feet theory", I would imagine its more of a financial/ paperwork and logistics dependency issue, and all types of ducks need to be lined up neatly, before seriously commencing construction work.
A potential niggle I had was around Enviroo and the possible dependency on them obtaining planning approval (now OKd) in starting our access road, as it is a shared access to Plot 13, and also the dependency regarding feedstock for both Enviroo (PET) and ourselves (the non-recyclable). So now Enviroo have their planning, this may help in relieving the financial constipation that has been holding back our construction start.

Seems to be quite a bit of frustration being directed towards Peel with regard to the lack/slow progress of the Protos site for PHE.
I'm far from an expert regarding what is required to complete financial closure on an agreement of this size, as I suspect most, if not all, are.
For comparison, Covanta, Plot 8, received planning approval on 11th Dec 2019 and achieved financial closure with their partners on 1st Dec 2020.
https://pa.cheshirewestandchester.gov.uk/online-applications/applicationDetails.do?
keyVal=Q057IZTEMQ900&activeTab=summary
https://www.covanta.com/news/press-releases/protos-energy-recovery-facility-achieves-financial-close-and-moves-into-construction
So it appears it can take quite a bit of time, 12 months, even when Peel are not directly involved. As it is approx. 12 months since PHE was granted planning, and we have had an update from DR, saying that we are just about ready to go, and Peel NRE Hydrogen has been registered at Companies House, then to my mind, financial closure isn't too far away.
Lets not forget that the financial agreement with Peel may not just be for Protos, but could be for the first three UK sites.
Now, if that RNS dropped on the table where would the sp go?

Dave/Dr.A:
My reading of the "trades" situation is similar to Dave's. It appears that TY's presentation to the USA market has had an effect and has created some buying interest.
However, there appears to be a trading "arrangement" whereby there is a matched source for the supply of shares to meet the USA demand. If you scour through the trades for today and yesterday, there is almost sufficient large sells to meet the apparent large buys, within a certain trading spread, creating an overall net nil effect.
Question is, who is supplying the shares?
To my mind, its either the 5.5p institutional placing shares or it's the ex-locked-in beneficiaries of the W2T acquisition.
Ex-locked-in, because I'm interpreting the "Deed of Variation" applying to ALL locked-in parties and not just the ones who took part in the 4.8p placing.

An old article from NS Energy - May 2020, but hadn't seen it before, describing the ambitions of the Protos site.
Interesting that our teeny plant (by comparison to the others) actually commands the majority of the article.
https://www.nsenergybusiness.com/features/protos-plant-uk/

Markrops:
In conjunction with your post, I think it is the case that Plot 8 - Covanta, Plot 13 - Enviroo, Plot 4 - Progressive Energy are each the developer of their plot, so they are more in control of their own destiny - as you suggest.

Just got home from a most enjoyable bike ride in the Cheshire countryside and realised I could hear the distant dulcet sound of concrete piling, and dashed straight down to Protos.
Yep, its concrete piling, alright but on Covanta's plot, Plot 8.
Sorry guys - just though you would want to share in my disappointment.
Sometime soon hopefully.

Just for comparison:
Friday late pm. Actual bid 5.81 - Actual ask 5.995 -Actual mid 5.9025
Now Actual bid 5.78 - Actual ask 5.84 - Actual mid 5.81
Based on this the real drop % ((5.9025-5.81) *100) = 1.57%

Telephoneman:
Had to re-read your last post as I think it didn't come across quite as you meant.
My understanding is that the overall potential daily revenue from 2t of Hydrogen per day = £21560 but with the same inputs and 3t of Hydrogen per day the overall potential revenue would increase to £29060 i.e. 35% uplift, of which £22500 is from the Hydrogen constituent.
Would there not be a trade off if Hydrogen output was increased at the expense of the residual syngas, which would be reduced or affect the ability to produce the 48mwh of electricity, and therefore reduce that part of the income stream?

Quick update on Protos. Nothing significant to report, as yet re: Plot 10b, but quite a bit of activity in the compound to the east of the plot, with double layered portacabins being installed by crane - turning into quite a complex. In addition new signage on the surrounding roadway re: "No parking", "pedestrian crossing" (where the public footpath crosses the road).
There also appears to be some kind of drilling going on in plot 11, - no idea what that is about.
As I say, nothing major, but every little helps!

1LEO:
Can you explain what road you are referring to when you say "we know for certain that the road has been started", because I can assure you that no work has been started on the Marsh Lane bridleway that approaches Plot 10b, because I have just been down it on me bike and it is just as rough as it ever was.
If someone is providing you with info from site you do need to clarify what exactly is being referred to, as we wouldn't want to mislead anyone reading this BB.
There is an old road that runs adjacent to Plot 8 (Covanta) where there is a lot of groundwork being undertaken, hard standing etc. but this is inside the security perimeter so not able to get a close look, to confirm whether any road work has been undertaken there.

No mention of the progress to date on the upcoming uk sites in Glasgow and Manchester................must have fell off the desk!

Hi Wolves:
Yep, been buying back in on the recent dips but only to a level of about 40% of where I was before, owing to concerns about the financial model going forward. These concerns have been addressed a little with the TY/DR webinar thing, but I still have the "fox in charge of the hen coop" niggle.
Once we see the new CEO, Peel financial closure on Protos and commitment to serious construction on Plot 10b, then I'll be resting more assured.
As an aside - I get the White family holding of the "locked in shares" from the W2T takeover to 81% based on the new numbers.

Cheers Dr. A
A lot to think about in that presentation, particularly the intended overlap of projects @ Glasgow and in Poland. Lets hope we're not over promising. Looks like a Tr1 in the morning with possibly a > 5% holding if its the F.I. that participated in the last 2 placings.
A little bit of buzz has been provided in what was becoming a bit of a lull in proceedings.