Thanks for that majallen. I do believe I did read that, but you kicked my memory. I do note however that it says "Summer/autumn - start on site at the plastic-to-hydrogen facility to turn unrecyclable plastic waste in the region into a clean fuel for buses, HGVs and cars." that probably means September-October . Ho Hum
Since this was announced on 24th may iI am surprised I have not seen mention of it before today on this board. It is certainly a step in the right direction by PHE. Maybe they have finally got fed up with waiting for Peel to fulfill their obligation to get going on the FOAK DMG. I remember someone said that August was now the announced start date at plot 10b. I have not seen that announced by Peel officially. Can anyone send a link to that? Is it a coincidence that August is also the date for the extension of the loan to Peel as the SPV provider for this to finish? If Peel do not start, then I assume PHE can then withdraw the loan (sorry I can't remember for how much but I think 3-4Mil?) Can this be used for the new "Commercial prototype" at the new GTIC? Wherever that is going to be. What has happened to the rest of the (I think about £11mil )raised by share issue last year? Can this be used, or has it all been frittered away? I assume "early 2023" for the site to be operational means before June 23 ,i.e. 12 months time . That seems a very optimistic prediction considering they have not even selected a site yet. Sure discussions and agreements MAY be going on, but given past predictions, I am not so optimistic. Any thoughts Dr. A?
While it is a relief to see that SAE has finally got an alternative plan for Uskmouth that seems acceptable to the powers that be, it does seem half baked to me. Where is the power coming from to store in the batteries? Without any mention of any contract to build a corresponding solar or wind farm, I assume they will have to buy in "surplus" power from the grid. This may be a cheap fix in the short term but I can't see it being a long term money earner. I have seen other proposals to do the same so it must make some financial sense. Can anyone enlighten me?
Thanks for your input Tim Bob . All very good points for a newcomer to this area of investment. You mentioned devaluation of property which does happen in times of economic stress which is why I mentioned "negative equity" as a well known example of a risk factor in this area ,but then all investment has risks of course. You just have to factor that in.
OK Tim Bob. So what you are saying is that the asset value will have to increase to meet the prefered debt to asset ratio. That is what I would like to see. Apart from that, it does look quite sound with a good discount of share price to NAV.
OK Tim Bob. I accept that logic, but I am an old fashioned conservative and don't like a debt that can always be called in or interest rate hike as with a mortgage. Ever heard of negative equity? I do hope that debt level will be reduced.
Anyone got an opinion on the debt level? . It seems very high at 111 mil . Even the board says it is not within their own risk level. How is it being paid off. I am more used to a "revolving credit facility"
I notice it says "the French aircraft manufacturer" . Isn't the UK part of Airbus now? If so , that was kept very quiet by Boris. No doubt BA will have to buy the new aircraft at an inflated price in 2035!
The new boss has been in work a week. What has he done to galvanize this company? Yes . NOTHiING will happen until the FOAK DMG starts being built and that means Financial close. When, oh when will that happen? Mr Kitcher ,burn the phone line to Peel central!
NutHazard re 13:14 post .I do sincerely hope that will be the end of the turn around in staff and board members for the next few crucial years. I also hope the new CEO will get a boot behind Mr Kitcher who's job it should be to put pressure on Peel to get on with construction (assuming they have done something toward financial close) never mind getting all their other projects going. He has an impressive double barreled name. I hope he starts firing on both of them! He has a tough first year ahead. I wish him the very best.
I would love to know that myself mjallen. I posed that to Dr A . For me it means "The full cost of construction is in the bank ,so construction can go ahead". I think Dr A agreed with that. In order for that to be true I guess the SPV in the guise of Peel NRE (Hydrogen 1?) must have investment cash and some of their own pledged to the project.
OK Led Zep . That does make sense although I had not even considered that work starting in the rest of the park would hold up work starting on the DMG. certainly work should start once the permissions are given but could be delayed until Autumn..
Are Yes! Having re read it could be " Start to turn unrecycled plastic waste in the region into a clean fuel for buses HGVs and cars , on site at the plastic-to-hydrogen facility" by re arranging the sentence that would mean the the DMG could be running by Autumn ! That does seem very optimistic however. I think it must mean that CONSTRUCTION should start then.