Member Info for Mikemine

The Anglian deal is still alive but they are having non RED planning issues that will be resolved but its taking time.

Yes, I thought of that. I suppose Statkraft would want to see how RED performs up close before making any decision. ATM they could buy the whole lot for what's in their Christmas party fund I'd imagine.

Couple of links but no mention of the battery supplier.

https://renews.biz/48708/norwegians-let-fly-at-kilathmoy/

https://www.siliconrepublic.com/companies/statkraft-renewables-battery-facility-ireland

This is from a recent release from Gore Street. I'm not sure what to make of it nor whether it has any bearing on the German project or indeed RED. Any thoughts?

"Gore Street Capital, Gore Street's Investment Advisor, has witnessed the market react to the need for storage with increased permitting and installation of storage projects in the UK that are accessing the frequency response and capacity markets. In November 2018, we commented on the news that the UK capacity market had been suspended following an EU decision that the process for obtaining EU State Aid clearance was flawed. These two events have led to a small fall in frequency response prices and temporary loss of capacity payments. The UK and the EU are working to address the procedural issues and reinstate the capacity market.

In light of these developments, Gore Street is taking a conservative view of the level and sources of revenue available to energy storage projects. It is this conservative forecast that results in the NAV adjustment. The Investment Advisor remains confident that the UK still presents compelling investment opportunities, and the present operational portfolio is generating strong positive cash flows, whilst the asset in construction remains on track for commissioning as previously advised.

As a leader in this new and growing market, Gore Street has an extensive pipeline of UK and European storage projects, several of which are in exclusivity or advanced negotiations; over the last few months that pipeline of opportunities has increased materially. However, Gore Street has been focused on preserving its rigorous investment discipline to safeguard target returns to shareholders at the levels indicated in the IPO prospectus and has therefore been selective in the projects it invest in. Nevertheless, the Company expects to announce several new investments in the near term.

In addition to the Company's significant UK investment pipeline, the opportunities outside the UK have continued to grow considerably and there are immediate and attractive opportunities available at present market prices. Gore Street's advanced pipeline encompasses projects across Belgium, Germany and the Ireland; a point of differentiation for the fund."

Why would you buy at 2p and sell below 2p all within 24hours or so? In the last placing we had to wait a few days for the owners of the shares to declare their %. Don't know what is going on but it looks like its the usual "sell on the news' but someone has been buying lots over the last few days. My money is on stake building but I have absolutely on evidence to support me.

Is anyone going to the EGM?

https://surplusenergyeconomics.wordpress.com/2019/04/05/149-the-big-challenges/

Hope JC reads it.

I wouldn't get too upset OF, they all try to produce news to support a fund raise.

Withholding news to affect the SP is another matter and should be reported to the FCA. Its no wonder he was made to step down, probably to protect him.

Hopefully that's all out of the way now and we can see some way forward.

It's believed that the Anglian order is being held up because of planning. Has anybody got any info on this or where the site is?

Held on but nearly sold. Wouldn't sell now at these levels. High risk still but improving on that front. RED beginning to gain traction but still no clarity on the German deal or Anglian which is a concern. So much upside potential but market confidence has been shot. New CEO has decent track record and product seems OK. The market RED is in is going to be enormous and they only need a very small % of it to be really successful. Finance will be a problem until its not and they are trying to sort that out within 4-6 months. Could easily see 200% rise from here in fairly short term but little downside risk for next month or so.

Just some random thoughts and opinion, not advice in any way. I'm sure you'll make your own mind up.

Includes the Oxford super hubhttps://www.gov.uk/government/news/four-leading-edge-demonstrators-to-jumpstart-energy-revolution"The installation of the world’s first transmission-connected lithium ion and redox-flow hybrid battery – 41 other UK sites have already been identified as potential sites for replication."So bigger things to come.

The RNS tells you what RED is supplying(not toilet rolls).

Apart from the useful sales, the big thing for me here is the acceptance of flow machines as being an important and differentiated component of such schemes. Up to now I've had the feeling that Flow machines were struggling to gain acceptance against lithium. Looks like the appreciation of the qualities they can bring to the table have been accepted. RED was right, IMHO, to make GEN3 a hybrid illustrating the different strengths of vanadium and lithium and I'm sure it has helped to persuade Oxford (and others) of the value of such a system.

Well done to anybody who took up the offer.

What might we expect before the EGM? I'd like to think some good news has been saved to get the deal done but it does look like its a done deal.

An intelligent RNS which should secure either a full take up oran over subscription IMHO. In either case I reckon the SP will respond positively which should calm nerves. Certainly mine have been tested mightily over the last couple of weeks and I'm sure I'm not alone.

I'm not sure where we go after this. A further clarification of RED's position would be good once the funding issue is out of the way. Perhaps those attending the shareholders' meeting will post some details here.

AFP, I appreciate your post but feel I have very little of value to add as I'm not in your experienced position. However, that has never stopped me giving an opinion on virtually any subject in the past, so here goes.

RED has been flagging this link up for some time, without mentioning a name, and I will take at face value that it is only now they have actually signed on the dotted line so it's news worthy. Yes RED and others have been offering this type of thing for a fair time and I'm disappointed that they have not gained better traction but we are where we are. Statkraft, by all accounts, although i haven't looked in to them much, are very big and must have lots of leads and contacts. They certainly have lots of credibility that can only improve RED's. In any case it will be a case of them taking the lead in procuring orders and RED tagging along behind IMHO.

The question for us it can RED stay viable while they fulfil the orders that will surely come from this linkup? Someone on one of the BBs said that Statkraft approached RED not the other way round. I don't know where they got that info but, if true, I wouldn't be surprised if they took a strategic holding in RED, especially at these levels. That will be good for RED but may hurt us permanently. I just don't know.

Which ever way we look at it the RNS was very positive and the SP has responded making the OO a done deal IMHO. I entered the prediction list for the end of the year not because I thought it was in any way serious but just a bit of fun. Its actually the first time I've put my name to SP prediction and It marked me down for 40p. When I posted that prediction i asked if I could make 2 predictions, the other being 1p. That was denied to me so I chose 40p just to remain positive. It would be ironic if I got 1p right as well as 40p in the same year. If that comes to pass I think I should open my own financial blog. Here's hoping.

Martin, well we seem to be half way there.

OF, fully agree that the 2 items you highlighted should have been the subject of RNS's before the fund raise. Clearly the news blackout was to enable the SP to get near to what VSA wanted. It is a clear breach of the rules and SM should be brought to account. I thought i covered that in a non specific way when I referred to RED's history under SM, clearly not obvious enough. However, we are under a new CEO now who has a decent track record and knows the rules so I'm prepared to give him the benefit of the doubt on this one.

Which ever way you view this though it is a positive RNS and my opinion remains that the OO will be successful. Certainly the Market thinks it's positive.

Easy to be cynical and I must admit that RED's history under SM gives some credence to it but RED can't fully control when news comes out. This piece of news is SP affecting so couldn't be withheld. I admit the timing is fortuitous, which is suspicious, but it is good news so I'm going to focus on that. The SP has reacted already and I'm confident that the OO will be successful.

I only red the RNS once but the term "fully funded" stood out like a sore thumb.

I'm in Majorca atm and have no passwords etc to get in to my trading account so have been unable to buy or sell.

In this position I decided i couldn't bear to see the carnage that I thought would ensue after my last log in to the BBs on Monday morning so this is my first log back in. I'm greatly surprised to see the SP at this level but I would greatly appreciate an update about what has happened since Monday. I've seen the RNSs but someone was talking about a presentation.

My take on the circular, for what it is worth, is that PI's probably won't take it up if the SP remains sub-2p but IIs probably will. The reason being is that these guys have 10s of millions of shares and couldn't possible sell them on the open market so they have a choice of bunging a few more quid in to RED's pot to allow them to retrieve the situation or let RED go under making all those millions of shares worthless. If I was a fund manager I'd go for the first option as RED were, and still might be, on the cusp of a breakthrough in sales. RED is not in the R&D stage now so they wouldn't be paying for that which would be more problematical so I think a small further investment could be justified.

From our point of view if the fund raise is successful my opinion is that the SP will go above 2p and who knows what the BOD will come up with in the next few months. Don't take any of this as advice. It's only my opinion.

The guys here with tens of millions of shares are the important players in this round. They have a choice. Do not take up the shares at 2p or see you entire investment become worthless or give RED their money at 2p to give their investment a chance.. No doubt they will be in contact with RED to get a more in depth slant on their thinking. A thing we can't get. If they are half way confident that RED have a viable way forward then they will buy the 2p shares, not because they are idiots but the 2p shares give RED money to go forward and might save their original investment. Its no good saying that nobody would pay 2p when the SP is below that figure. Buying on the open market doesn't give money to RED and that why they will buy at 2p IMHO. Its not the price, its the finance that is important. If the offer/placing gets through, which I think is a good chance of happening, the SP will improve IMHO.

Regardless of what we think of Scott and what he has done, we are here to see if the next stage will get off the ground and then succeed. Lets not take the eye off the ball.

Interesting.

https://www.energy-storage.news/news/worlds-first-long-term-battery-insurance-service-launches-from-munich-re