RE: EXCELLENT RNS!11 Apr 2024 16:09
KIBO selling below - idiots :) more for us . happy to pay them 1p+ here now :).
Profit on Pyebridge is $400k! now in operation mkt cap £1.2 m too low here folks. The other plays are additional worth much more, which they will seek external funding for, then back to 5-10p. imho
Further to the Company's previous announcement dated 28 February 2024, the MED management team successfully completed the initial work programme ahead of schedule at its Pyebridge 9MW flexible power generation asset ("Pyebridge"), with the site now officially back into operation.
Resultingly, MED was able to schedule and perform the minimum 3x separate generation runs ahead of schedule to meet its Satisfactory Performance Days ("SPD") requirements that are due by the end of April 2024 under its existing T-1 Capacity Market contract (the "CM Contract"). It is expected that Pyebridge will pass its next SPD test, and retain the CM Contract's associated annual gross profit margin income of c. £308,000 which is paid and received monthly in arrears.
Additionally, as previously announced the Pyebridge site has secured further Capacity Market contracts to ensure minimum annual gross profit margin income as follows:
· T-1 2024/2025 CM contract - c. £183,000 gross profit margin income;
· T-4 2026/2027 CM contract - c. £312,000 gross profit margin income; and
· T-4 2027/2028 CM contract - c. £322,000 gross profit margin income.