Member Info for noisyboy9

Heading back to Nigg now

There is a very quiet Telegram group - Simec Atlantis SAE

I thought that was a pretty good presentation, They do seem very focused on the current projects. I get the impression they would be rather rid of the SIMEC shareholding!

Just looking at latest generation figures from Meygen

Feb 24 - 873 MWh

Mar 24 - 972 MWh

Apr 24 - 975 MWh

May 24 - 664 MWh

Jun 24 - 675 MWh

Does seem to me like there may be another problem with one of the three currently operating turbines

Also interested to know when the 4th turbine is due to be redeployed? Seems to be taking forever!

Figures for Meygen for Q1

Jan 24 - 973 MWH

Feb 24 - 873 MWH

Mar 24 - 972 MWH

BTC is only around 38% of the portfolio, IMO the Ethereum and Solana holdings could power up the NAV

Update Q1 NAV 7.38p

From Meygen Annual Report on Companies House

2022 2021

Revenue £3,901,752 £1,627,642

Operating expense (£7,964,343) (£5,063,892)

EBITDA (£1,328,281) (£1,420,384)

The increase in Operating expenses is disappointing.

Interestingly, She has gone to Peterhead and not Nigg. Not on the Nigg expected arrivals at the moment

I tried twice to contact them. Zero response!

I’ve Sold out this weeek, I like the technology and what they are doing but lost faith in management. Better opportunities elsewhere imho. Too many red flags IMHO. GLA holders.

Cheers oldtramp, At least some badly needed cash on the way for them!

Vaguely worded RNS again

From Aug 2022 RNS

"SAE is also pleased to announce, following the novation of the grid connection

agreement to EOS, that it has received an initial £6m payment from UES, which

is in the form of a loan. The loan is interest-free over the period of the

option agreement and will be repaid from the £6m development premium that is

payable on the award of planning. Planning is well progressed with the

planning application for the project having now been submitted. Planning

permission is expected to be awarded in Q4 2022. A further £4m development

premium will be received on financial close of the project and entry to the

lease. The financial close is scheduled for Q1 2023"

Does this mean they have financially closed and are due the £4M premium?

Good find. Unfortunately, doubt someone dumping some cable ramps over the cable will earn us much revenue !

I'll start with a pound, or 100 SAE Shares!!!

Munin - In that case income for last year could possibly be in the range £4.37M - £5.25M based on 8.75GWH Generated (Based on £500 - £600 per MWh)

You just need to have a look at companies house under Meygen PLC. Unfortunately latest figures available are for FY21, A year which not much electricity was generated. 2021 Revenue £1.62M, Expenses £5.06M, EBITDA -£1.42M on 4.6GWH generated.

FY22 should be a lot better IMHO as Wholesale prices were up and 8.75GWh was generated. FY23 should get to around 12-15GWh if they could get the fourth turbine in. Although the operating expenses are an unknown!

Yes, I do know that!

It could be nothing but there is a heavy lift ship due into Nigg in the morning. We can but hope!

It 100% hasn't happened! I've kept an eye on local vessel movements and notice to mariners. Nothing pending either