Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Perth was worth 119.4p of the NAV.
Not much more to say really. It is a massive loss.
Lol yeah right
Tom and his associates have been taking a monster wage for the last 12 years.
They don’t have £20m cash to spend. It will mostly disappear for decomm and won’t even cover skerryvore drill.
If lucky then PMG will be bought by another player that needs the tax losses. TC could buy an end of life production asset to utilise tax losses…but where is the cash coming from for that??
Lol are you still bullish on this SoTB??
Looks like castle had some insider info all along
There are certainly some hopes and dreams. Nothing as concrete as a plan in my opinion. Perhaps someone could get to work on a name change.
I do wonder what old Tom does with his days?
Ariel
Yes great plan. Fail at one enterprise then use what is left of shareholder funds to move onto a new money making scheme.
Sjab- the company has just admitted that they don’t have a plan!!
Seems there is a family feud going on? Very poor judgement to appoint family members to the board of a PLc. Young Ryan now sailing off into the sunset.
The rest of the RNS reads like TC has run out of ideas sadly.
He is Scott240 isn’t he?
Therapist - either damp or hot.
If it is a transformer issue then they don’t have many components that can fail. My guess is that these are cast resin transformers that haven’t been looked after very well / put in the correct location initially.
It could be that one failed, they saw the state of it, tested the other ones and condemned them.
Perhaps one or more of them is salvageable if they put some heaters on them, dry out and re test.
More speculation! I know nothing
Transformer lead times from the likes of ABB and Schneider are 12 months minimum. Supply chains are very stretched the last 12 months.
Also these sound like “special” unit transformers.
If one failed a while ago then there might already be one on order.
This assumes that like-for-like can be ordered. This might not be the case if there is some design flaw that has caused the failures.
What a mess. We need both gas and oil to drop below “normal” levels for a sustained period. I doubt this will make any difference to our RBL capacity.
It’s a big if Crusty!
Jan - you don’t know what you are talking about.
Have you got a source Castle? Or just going off SP drop?
Yes, stealth dilution is running very high at this share price.
The BOD and their related parties gain more control with each day that goes by.
Even if you can beg borrow or steal something suitable it will take weeks to get the old one out and new one back in. These are big bulky pieces of equipment.
I don’t think EP has anything suitable. Be interesting to hear what ENQ say today. I doubt they will give much away if past is our guide.
Anyway, I’m not worried, these things happen.
Mito is correct about replacement parts - there is essentially only one part.
Some sort of solution will be possible I’m sure, however these are likely to be special multi winding transformers feeding variable speed drives.
Replacement with new will probably take 12 months +.
Anyway, impossible to say impact without knowing what the failures are or what the transformer specifications are.
Power / distribution transformers are not readily replaceable as new parts. Lead time for new transformers is 12 months plus currently for standard designs.
Redundancy will be built into the system…I.E 2x100% transformers in each service. If these have both failed then they will need to get some temporary power on board IMHO.
It could be several weeks to get a lash up job done and then operating at lower capacity potentially.
All a guess.
It would be very unusual for multiple transformers to fail suddenly…