Member Info for Richard08

HOLD and buying more.

In 2024 they mined 186oz with an average realised price of 2015 which brought in 378M in rev.

In 2025 they are forecasting 205oz with an average price of $2300-3100 so far.

Admittedly, H1 results weren't as good as we'd hoped, but the gold price is up $400+ since then.

For H1 they made $189m with an ave price of $2359 per oz having mined 84koz.

Imagine what H2 will bring in with an ave price of $3000+ if they manage to mine the 215oz as forecast in the H1 results pres?

Morning all, I've summarised the recent update for my own records and thought I'd add it in here for people. It all seems really positive. A summary of the summary would read: we're building more batteries, for less money for markets the world over which are significantly bigger than anything seen before!

The Company confirms that as a result of shipping the orders secured during 2024 by the year end, results for the full year 2024 are anticipated to be in line with expectations.

The Company also confirms that it is currently trading in line with expectations for 2025 with orders so far of:

10.8 MWh ENDURIUM battery system to STS Group (financial close expected Q2 2025).

The 14.4 MWh order from Everdura Technology Company

up to £10m of grant income this year in respect of the LODES project announced

The first ENDURIUM battery has now been fully commissioned. Initial operating data received from the battery has indicated performance in line with expectations.

The Company is using AI and machine learning algorithms to analyse datasets to improve operating parameters.

This has led to benefits in round trip efficiency, extending life of component parts and improved maintenance schedules across the fleet.

The Company has achieved a 24% cost reduction in ENDURIUM since launch via value engineering, supply chain enhancement and performance improvements and anticipates further cost reductions to be realised in line with internal forecasts.

A semi-automated stack production line is expected to double output of stacks at the Bathgate site and further improve quality with only a marginal increase in staffing levels.

The Company is actively engaged in discussions to expand its manufacturing capabilities in the United States so as to comply with domestic content requirements for such projects.

Looking forward, the size and scale of the opportunities which the Company is actively discussing and negotiating are significantly greater in terms of both number and project capacity than it has seen before.

Despite the recent changes in the U.S. policy environment, funding remains available to these projects are expected to support 2026 revenues for the Company in addition to a pipeline of other opportunities which the Company is in advanced negotiations to close.

Further to recent announcements concerning the confirmation of the LDES Cap and Floor scheme in the UK, Invinity regards recent policy announcements concerning support for the deployment of LDES globally as very supportive to the Company's future corporate growth ambitions.

I shouldn't be too concerned atalatal, those kinds of things could happen to any business. Given the net profit this makes the business is secure as any. Maybe not as valuable as it once was but the divi should be secure.

But it's still a cash generation machine yielding 6%+ now. No long term worries, and the possibility that the R&D might actually deliver a benefit at some point...

Hopefully so! First big sale of the new battery and interesting updates too!

Premier Miton must be out by now… in their October interim report IES were their 19th biggest holding. In their latest update from the end of Feb thy aren’t even in the top twenty. They only had £500k worth anyway, how long does it take to drip that into the market?

I don't think Invinity's decision to drop their detailed pipeline info from their trading updates has helped performance. It provided am encouraging picture of interest in the business and it's products. Now, with no concrete sales data coming through, and few sales of the new battery, as yet, negative sentiment can just take over. We need some definitive sales and money coming in for these asap or it just appears Endurium isn't selling.

Whinge over!

The SP staying so low below the offer price suggests something is off. Lack of faith in the offer?

Deffo reject this - not a true reflection of growth in sp here once interest rates come down.

It will be interesting to see which fund they’ve bought it into. They don’t update their holdings that often so we’ll have to wait until the end of the month or maybe next.

I think you could be right mfdoom... baring a full blown recession in the Us, which doesn't seem too likely as yet, this should start to recover.

Bad isn’t it? Wonder how many people knew in advance and acted on it. Doesn’t take many trades to move this, but…

Let’s see what the action is today!

See cash offer for HEIT on the other page...

The first time (?) the market has been able to put a recent price on assets of this nature. Should underline confidence in GSF. That, combined with the recent increase in GSF's portfolio should mean good news needs pricing in for a change.

Are you sure Trendz? Can't find any mention of this.

It is also virtually inflammable which should make it easier to get planning permission, less distance required between the batteries and housing etc for safety reasons and so on.

The market is trying, and overdoing it as ever, to price in all this. Bosch was the bigger player out of the group of licensees but the revenue from them was going to be much further down the line as compared to Doosan, Delta and Denso. But Bosch were planning on scaling up to 200MW but without a fixed date to when this would have occurred. Then there is the sale of their shares. Lots to turn over, but the agreements with the other companies are still in place and, fingers crossed, they will remain so!

Https://frontierpower.biz/general-2

Worth a peruse of FD’s website. Have a look at their projects, link above. The very bottom one shows that LDES has been an ambition for a while.

“Frontier Power is currently in the process of establishing relevant partnerships that will enable it to participate in Ofgem’s 2025 LDES window and develop long duration energy storage solutions at scale in the UK. As renewable energy’s share in the energy mix increases, the need for long duration energy storage is only going to increase as a key enabler of stabilising the grid. Frontier Power sees opportunities for LDES projects in other parts of the world where it is active.”

As BBN points out, this is a partner who knows what they are doing and how to get projects connected to the grid. It is another vital piece in the puzzle that will make IES successful.

His arguments do hang on a lot of ifs and buts which he is pretending are facts to build his next point upon. All this intermittency can be sorted with the correct amount of battery storage and nuclear for base load. Hence the govt pushing SMRs. His argument really falls down when, right at the end, he flags up a trust of which he is a NED which he claims (what a coincidence?!?) is better!

The interim results presentation on their website is much clearer than the RNS and seems to contain more nuggets of info. Or at least they are easier to find!

Https://www.proactiveinvestors.co.uk/companies/news/1066141/berenberg-continues-to-see-upside-for-pan-african-resources-1066141.html