Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
What was in early 2 years ago?
I can't fathom how the WMs have the authority to make a determination on an environmental permit? That is the authority of NRW. If WMs deny the EP variation - what is the impact on SAE being able to move forward with the IP rights of subcoal to pursue a venture elsewhere? The EP decision was crucial in allowing them to commence the next stage of the JV with N+P (NPA Fuels Ltd) for subcoal pellet production plants around the UK - this sounded like it was going to be a very lucrative revenue stream for SAE - Firstly, without EP variation SUP cant burn subcoal PAF but also, does it mean that subcoal PAF can't be burnt anywhere in the UK?
Wenglish - sort them in date order and read todays uploads
OHS
This is the crux of it, as per the moratorium on EfWs above 10Mw that they announced in March:
"This means that the facility would become a large-scale energy from waste facility. It is Welsh Government policy, contained in the strategy document “Beyond Recycling”, and reflected in the Ministerial Statement published by Lesley Griffiths (MS) in March 2021, that there be a presumption against new large-scale energy from waste facilities in Wales, for
reasons explained more fully in the strategy document."
It's c&p'd below - Draft variation to the environmental permit looked like it was going to be issued by NRW. WMs have now directed that decision is now for them to determine. It certainly doesn't sound positive for SAE that the WMs aren't allowing the decision to be made by NRW, just like they called-in the PA from Newport City Council to prevent them from making their decision to approve the planning...
OHS
NRW have been directed to refer the permit application to the Welsh Ministers for determination:
https://publicregister.naturalresources.wales/Search/Results?SearchTerm=+PAN-008534
The current operator, SIMEC Uskmouth Power Ltd., has applied to Natural Resources Wales (‘NRW’) to vary the existing environmental permit for Uskmouth Power Station, to allow the installation to burn waste-derived fuel pellets instead of coal. This means that the facility would become a large-scale energy from waste facility. It is Welsh Government policy, contained in the strategy document “Beyond Recycling”, and reflected in the Ministerial Statement published by Lesley Griffiths (MS) in March 2021, that there be a presumption against new large-scale energy from waste facilities in Wales, for
reasons explained more fully in the strategy document.
The potential for Uskmouth to become an energy from waste facility therefore directly engages key Welsh Government policy in this area. In light of this, I consider the application to be of substantial significance and I am minded that it would be appropriate for the Welsh Ministers to determine the permit variation application. I therefore make the following Direction.
Direction
Pursuant to the power in regulation 63(1) of the Environmental Permitting (England and Wales) Regulations 20161, I direct the Natural Resources Body for Wales (‘NRBW’) to refer the application by SIMEC Uskmouth Power Ltd – to vary an environmental permit in relation to Uskmouth Power Station – to the Welsh Ministers for determination.
This Direction has effect immediately on receipt by NRBW.
Slick90 - I can answer your question if I rephrase it first:
Do I think Uskmouth ‘should’ get the go ahead? - Yes
Do I think it ‘will’ get the go ahead? - I honestly don’t know. There are so many obstacles in the way it’s exhausting trying to figure out how they will navigate them all; environmental permit variation approval, carbon capture infrastructure, is Hana still financing it?, no 3rd tranche cash injection occurred from investor, soooooo much debt - some due to be paid end of the year and more next year, no NPA Fuels JV news - N+P have since started another JV with someone else, the moratorium on efw plants above 10MW, Usk is 200MW!), and of course the called in planning application for the silos (without this Uskmouth doesn’t happen, it’s that simple - what is taking so long? And why?
OHS
You don't think that a called in planning application for 4 x 48m tall silos raises any concerns or issues in relation to an impact on the Gwent Levels?
https://simecatlantis.com/wp-content/uploads/2020/05/Simec-Uskmouth-Power-Station-Conversion-ES-Vol-1-Main-Text.pdf
page 2-7
Day Silos (x2) - 15 m radius x 24 m high (31 m including head house)
De-dusting Building - 20 m x 20 m 10 m
Lime Silo (external cladding extension) - 8.5 m x 5 m 23 m
Primary Storage Silos (x4) - 34 m radius x 42 m high (48 m including head house)
Rail Unloading Facility Extension - 40 m x 15 m x 8 m
OHS
Still awaiting a decision from the Planning Inspectorate I believe. Anyone read this? - could link in with the lengthy time being required to make a decision:
"New and strengthened planning guidance to better enable the right developments in the right place and to avoid further unacceptable biodiversity and landscape impacts on the Gwent Levels."
https://gov.wales/gwent-levels-vitally-important-south-wales-and-world-we-will-work-protect-them-climate-change
OHS
Just scrolled back through the chat pages and couldn't see a link to this article (may have missed it) so here is one ref the water supply to Thar IPP projects from mid August:
https://www.brecorder.com/news/40113386/water-supply-to-ipps-at-thar-coal-power-plants-to-be-completed-by-sept
OHS
Ridiculous how a £100k conversion can knock £900k off the market cap
Drill program is fully funded from current cash resources - as stated in previous RNS. That's not to say there wont be a cash raise in the future (to develop a mine going forward on positive drill results perhaps) but in the mean time, no cause for any concern of a placement for this project
OHS
Someone seems to be building again here - the 5m trade has now been cancelled and showing as 7m at a higher price
Definitely a change in volume here - that 30m seems to have brought some interest here. 0.375 to buy now. I think another large buy is building in the background looking at the trades this morning at 08:26 - 1m cancelled for 2.5m cancelled then up to 5m with the price increasing ever so slightly with each new amount. I’m expecting another nudge up soon
OHS
Make that 5m and counting……
OHS
I see Another 2m just bought
Same trade just showed up at 0.355 - could even be a sell!
Nope.
“ The appointed broker will purchase shares from the market on or around the fifth trading day of each calendar month for a period of 12 months. Consequently, the first Director Purchase Plan buying is expected to occur on or around 7 September 2021”.
Plus, only 4 directors and 10% of their monthly wages combined is nowhere near £111k
OHS
Take your pick: Depreciating fields, depreciating oil and gas prices (3 month low), no flow test achievable at Sancrai and a trigger happy seller. It's not for the faint hearted, especially in the current climate - time to turn my paper loss into actual paper and bank some actual money I feel
It's in black and white:
"attract, motivate and retain Directors"
The Remuneration Committee is chaired by Mark Steed with David Hutchins as a member. The Remuneration Committee is responsible for reviewing the performance of the executive Directors and will set their remuneration, determine the payment of bonuses to them and consider the introduction and operation of bonus, option and pension schemes. Executive remuneration packages are designed to attract, motivate and retain Directors of the necessary calibre and to reward them for enhancing value to shareholders. The performance measurement of the Executive Director and key members of senior management and the determination of their annual remuneration package is undertaken by the Remuneration Committee. The remuneration of Non-executive Directors is determined by the Board within limits set in the Articles of Association.