RE: Orkney is this Us22 Aug 2019 12:13
Either you are de-ramping or you don't know what you are talking about, i suspect the latter.
1) if it was a takeover then we would have bought Highland Renewables so Simec could have off-loaded it for a good price. We didn't because in the end it wasn't commercially viable to accrue that much debt, which was decided by the independent BOD.
2) an update on 'usk' was released on the 15th of July, just over a month ago - this is now the primary project, however there are many others also in the pipeline.
3) MeyGen continues to generate revenue daily
4) the reason that the share price is so low is that the next obvious increase in share price is coming from the 'usk' project which isn't going to be online for some while yet, so why let your capital sit somewhere when it can make you more else where? The big investors will come when 'usk' is almost ready and not before. There are however, a number of opportunities for Simec Atlantis to surprise the market, which if you are here is basically what you are waiting for.
5) The reason we didn't get this is that we don't develop floating turbines and OMP only use floating turbines in their projects
6) If you have the patience and can stomach the risk then buying at this price will seem like a fantastic bargain in two years time. But if you want to make money in that time though then there are much better investments out there. This is a 'take a punt' stock after all, you are investing in cutting edge technology in an undeveloped market with few working examples that operate in some of the harshest conditions, the fact that we have diversified is a good thing, we are no longer solely relying on winning CFD's, which again, we aren't likely to do this year (unless they really have cut costs) and maybe not next year either.
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