Member Info for mjallen

"Direct Line's solvency is still precariously low: we estimate circa 151%. As a reminder, solvency was 152% at June 2022 and since then the company has de-risked its investment portfolio (+6ppt), cut the final 2022E dividend (+17ppt) and announced a 10% QS deal (+6ppt), but solvency is still only c151%. We do not think this is a good approach, but it does fit the narrative of the company muddling through. We now expect the company to pay an interim dividend of 7.6p to appease many income funds that would become forced sellers should a 2023E dividend not be paid; however, will still think Direct Line will not pay a final dividend. We estimate solvency will end 2023E at 166% under this scenario."

Your first paragraph Dersack hits the nail straight on its head. I always remember 50 years ago when I was given a new van to drive around in. It had 7 miles on the clock. And for the next 1000 miles I had to drive around at 30 mph max to run in the engine and brakes etc. And that's for a van that had been in production for a number of years and was produced in their hundreds. Your looking at a one off purpose built plant here. Of which I would expect a non load run in period of at least 2 or more weeks checking and measuring even before you apply any waste to process.

You could well be right Mary
Berenberg stated this,
However, it also said that not paying a dividend could be the right option.
"In our view, Direct Line has four options to recapitalise itself: raise capital, raise debt, increase the use of reinsurance, or stop capital distributions," Berenberg said.
It argued that cancelling the 2023E dividend is the most effective and cost-efficient way for Direct Line to recapitalise, and it helps to preserve the value of the shares over the long term, rather than potentially devaluing them permanently if the other options were utilised.
Has the Re-insurance route been taken to provide a small dividend in the interim.
History has show more special dividends going back to 2014 paid at the interim payment.
Lets just hope so as I was looking to reduce some of my energy debt with even a small dividend.

Yet another CEO is just a drain on cash. Better to be spent on getting M Dryers LTD Thermal Combustion Chamber up and running. As without that we are not going anywhere. Why spend money that is not required to complete even that simple task.

For me Audible. Circular economy is to continue using oil for the making of plastics that when they are at the end of their life. They are recycled into other plastic parts and those that are non recyclable they are converted into other forms of energy or non aligned materials. It keeps the existing employees employed in multiple industries and creates an economy that also avoids destroying the planet.

Its really all a moot point Audible. As Poland will be at war with Russia after supplying Tanks to Ukraine plus this is a PHE forum. And until I can see a working TCC from M Dryers Ltd its not going anywhere fast in any country.

Even better then Audible.
HUI have carried out the assessment using SWECO as consultants just like Peel employed consultants for their impact assessment. Peel also had to employ other consultants to assess the impact on the water voles and other wild life that frequents the Cheshire countryside. However planning consent is still in the domain of the land owner. Add to that Peel have had to employ consultants in traffic management.
I see nothing untoward here.
MJA

You make a fair point Audible
However why would SWECO be applying for permissions on the following:-
"Romgos Grupa has agreed to provide funding amounting in total to PLN 3 million through contributing an appropriate property interest upon which to construct an HUI facility and to provide cash investment funding to cover the costs of obtaining the relevant environmental consents or permits or construction permits for a special purpose vehicle ("SPV") established for the purpose of constructing an initial HUI facility."
After all it was Peel that have applied and paid for all the permissions to build the plants in this country as they own the land. Presumably the same applies for Poland. Its the land owner that requests the permission.
As far as Linde goes. No doubt they will be involved later with the installation of pipework and gas tanks etc. As that is their expertise.
And no I do not hold any HUI shares if that's your next question.
MJA

I don't know if any of you other posters have Netflix. If you do Watch Madoff, The monster of Wall Street. It gives a very good and simplistic view of trading and a perfect explanation into market makers and their obligations.

Hi Not, If its just a market maker selling to off load the previous days purchases then just their commission.

I'm still of the opinion that until Mitch Dryers have built and tested the thermal combustion chamber very little progress will take place on 10B.

Quite right MrG over approx 3 billion more shares bought than sold so far. Divi reduction would have been a more favourable option and stop all these share buybacks. Us pensioners need cash now. Bird in the hand and all that jazz.

As a matter of interest posters who is this mjallan you all keep referring to. It cannot be me.

No you explain it testpack. You seem to be the know it all.

B, I don't know if you are aware . But a seller requires a buyer to complete a transaction. So I wouldn't worry to much about sellers. Its when you cannot offload your shares that's the time to worry.

I just received a reply to a message I sent in April 2022
Hi it’s me again,
Without giving away any sensitive commercial information.
Are you still on board for Plot 13 at Protos as the DMG plant in Plot 10B is expected to start construction in July August time?
I also understand that Peel has a planning application for Plots 9B 10A, 11 and 12 that I believe are all complementary to your process.
Many thanks
Martin J Allen
PH energy investor
There reply is as follows:-
Hi Martin,
Happy new year!
We are finalising our angel funding round and thought you perhaps might be interested in Enviroo given your investment in our neighbouring plot?
We are also in negotiation for plots 10a, 11 and 12 for the expansion of our plans.
Happy to share further details or our CEO can give you a call to discuss.
Best
Enviroo
It at least gives us hope for the other plots that are on the market to lease. And are so integral to the both our plants.

Thank you loads that’s, a bit, clearer and I make the assumption that your statement is in fact the following.
What you are thinking is. When they want to make a lot of the TCCs. At some stage they will have a problem to make them fast enough. So, they will need someone additional to make the TCC. You have assumed HUI will find someone.
As I said earlier in a post. My research indicated that a manufacturing company of the TCC would take 4 months to produce and be able to complete three a year. The research did not give out the name of the company at the time so I cannot say if it was M Dryers or not.
I have looked at Linde Gas and so far, I can find no indication that they are involved in the manufacture of TCCs. They do have extensive expertise in Hydrogen production by electrolysis plus piping, gas containment etc.
I should think that once the fluid dynamics and the cad drawings are finalised for a working plant. It would be a lot easier to batch produce TCCs on a quicker timetable. After all Henry Ford increased production of the motor car on a massive scale without the advantage of the computer. And robotic production methods such as sheet metals cut to size using laser beams.
It is of course even possible that the TCCs could be adaptable to other forms of waste conversion and subject to additional licence fees as a standalone part to others. Possibly even Eqtec my other shareholding.

Sorry Loads but I need help to translate your post.

Castle your thanks should also go to NGR1616 who posted the original link on this board with a reference to the blog via Twitter.

Castle, if you kick Peel into touch then we lose the Cheshire Protos build. Peel are the ones that that have the planning permission not PHE.