Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Very easy to whinge about timelines and yes indeed, company were clearly over optimistic re 2nd quarter 2023. But it isn’t easy to negotiate an enormous deal with a global automotive OEM either and if that takes some time then that’s fine by me 👍
The point is not how high the share price is now, those shares issued to Paul and Sam on Friday would have been issued on Friday, at a value of £1.40, irrespective of the current share price and newsflow. That loan repayment deal was signed a long time ago. The pace of newsflow has no relevance to the issuance of those shares.
That share issue in repayment of loans made to the company doesn’t have any bearing on newsflow timeline - it was agreed and publicised at the time. This agreement would have had to be RNS’d at the time of signing irrespective of the loan repayment shares. The only reason that issue was delayed was due to takeover code rules and the company not wanting to reissue a prospectus.
Great news today nonetheless
This coming Wednesday, it will be five weeks since the Australia Feasibility Study was complete and announced to market, which was going to be used for "utilised for completion of due diligence activities with various potential feedstock suppliers as a planned next step to finalising binding agreements."
Now these are undoubtedly big companies carrying out the due diligence, which invariably will take some time - how much time is anyone's guess but 6-8 weeks would seem realistic. Should mean we're getting very close to feedstock...
They’ll come when they’re ready Roger - not due until the end of the month so don’t expect them until then, and you’ll be pleasantly surprised if they do arrive early.
Not an issue at all. If there’s one thing I’ve learned in investing it’s that projects of scale like this are always delayed. I didn’t buy in to spend my time caring about what the share price is pre-funding because why would I consider selling pre-funding? Current share price is an irrelevance.
Surely in an accident this would be covered by the insurers? Nobody driving a Porsche Taycan would only have third party insurance... This is currently a well known (I thought) problem, but one that doesn't affect too many people. In the not too distant future though it's going to be an enormous problem. When people start buying second hand EV's with batteries that have been caned for 10 years and will need replacing...
Think we're going to end up in a situation where you own the car but lease the battery. Or, and this would be ideal but would require international government cooperation, the batteries become uniform and swappable at service stations. Then you don't have to wait for it to charge, you just swap it out and continue on your journey. If yours becomes damaged, you're covered as part of the battery lease package. If you buy a second hand EV, you don't need to worry about batteries being worn.
Majoroak - I still don’t believe for one second that the BoD are interested in a buyout. They want this to succeed on its own. Not that a buyout or JV wouldn’t make them all very rich, but nothing compared to what going it alone can do with the right agreements and financing
Interesting that you seem to think funding potential is linked to market cap. I think it’s linked to ability to deliver and demand for product. Demand for product is high, and growing, and ability to deliver is linked to funding (which those who demand the product can supply) and competency of leadership.
Personally highly confident in a successful outcome.