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And on the trades Rock, the market for this is in a holding pattern now. A spread of 10% doesn’t encourage buying or selling. The market will decide when we have the next piece of news (either from the company) or outside news ramming home Corcels two mines in PNG which are valued at basically nothing at the moment by the market.
WoWo and Mambare - you mention 3 years ago there wasn’t any press on the JORC upgrade. I think we’re in a very difficult climate now and the consensus amongst analysts seems to indicate that without finding all the Nickel we have on earth, we cannot switch from diesel and petrol cars. Nickel is a non negotiable for EVs and it’s supply is limited. Car manufacturers will need it as much as they need rubber tyres. If we don’t have the Nickel, we can’t have EV batteries and we can’t decarbonise. That’s where I think the market has Corcel completely wrong. Because it’s got the FG arm and the mining element, it has completely neglected what the company actually owns. The FG business is only worth something if they get switched on to the grid and the peakers are built out…. The mammoth scale mines they own for nickel and cobalt have to be worth hundreds of millions to the right party. I do see them selling at least one of them, after the JORC work has been done, with or without a mining license for many multiples of the company’s current beaten down SP. That’s why I’m here. Patience is required, but you either believe the share is undervalued or you don’t. I think when the right news flows, we will hit 10p by EOY.
Wistful, I think the key reason for offering half the FG at 0.5 mill was purely to get the much needed funding. It’s really a no brainer. Corcel cannot take the assets to production and revenue generating without someone writing them a cheque. I think most of us understood that the funding would come at a cost. But if the next RNS reveals Altona have now entered into a binding agreement and written the cheques, I think Corcel, at long last, will be off and away. Also worth remembering that the company has stated it has several other projects for FG that Altona will work with them to bring to production, so the 500k could actually be priceless to a company of Corcels’ MCAP.
PNG, all guesswork really isn’t it. It could happen next week, could have been last year, could also take 6 months. If it’s at the end stage of a very protracted and drawn out process, I’d rather hold shares in the company at the business end of the mining license.
Davwal, agreed. Whilst non binding… yet. If they’ve gone to the effort of agreeing (in principle) the option price for 50% of FGS @ 500k in return for funding Corcels pipeline of projects, I’d say there’s a decent probability of it coming together.
Altana would seem to be a good fit for the companies ambitions for ESG credentials.
To be honest, I’m happier as a Corcel holder today than I have been the last few years and feel we are closer to bringing projects to fruition.
Corcel PLC (LSE:CRCL) is climbing after signing a deal with a UK investment group to fund its its current and future UK energy storage and generation projects.
The agreement includes an option for the group, Altana Social Impact Partnership, to invest directly in Corcel's UK subsidiary which holds the portfolio of UK based energy generation and storage projects.
Under the terms of the deal, Altana has the option to take a 50% stake in the subsidiary, Flexible Grid Solutions, for £500,000.
The new partnership originated from the funding process for two 50MW gas peaker projects at Avonmouth and Tring Road, but is now designed to be broader, potentially including multiple battery storage sites across the UK alongside other projects.
When do we think this might land? I know it’s been discussed before and anyones guess is speculation, but on the basis that we have SocGen, it is also likely they have seen the CPR already or something to bring them on board?
Nige, maybe your nudge worked mate. At least we have more certainty of the company generating £ and cashing in on the FGS business. Now all we need is a buyout offer for one of the nickel mines for £200 million and we can all retire. News also expected on the farm out of Wowo. Sit tight folks…
@metal, yeah probably mate. They want a bigger slice of the cake given the income potential the project will generate. I’m sure a deal will be struck, or they stand to gain zero and Corcel will probably pursue them for contractual failings.
@ metalhead
Taken from Feb RNS capacity auction
‘Following an application into the Capacity Market auction by FPC Electric Land Limited, the Company's partner and landlord of the site, the Avonmouth Project has been awarded a 50MW Capacity Market contract which equates to a guaranteed annual gross revenue of c.£1.5million, index-linked over a 15 year consecutive period, beginning in 2025. The Company cautions that its rights to 100% of the Avonmouth Project remain conditional on a successful completion of the existing project funding process and project construction and that commercial terms with FPC Electric Land Limited around the sharing of the benefit of the Capacity Market contract are still to be negotiated.‘
Corcel has the funding in place now, it sounds like without this, the negotiations were at a standstill. Hopefully we’ll now get something inked regarding the deal with FPC Electric Land Ltd. If Corcel had no claim to the benefit, I can’t see why they’d RNS the capacity auction result.
Rock… that’s convenient isn’t it haha! Anyone know how to get this BB to pull the RNS through? Maybe it will be updated today but it’s a shame it doesn’t show on this ticker
Altana Welath… what they are involved in…
Altana Wealth has become a signatory to the Principles for Responsible Investment instituted by the United Nations (UNPRI). The UNPRI initiative is an international network of over 3,000 signatories, from more than 50 countries, representing over $100 trillion in assets under management as of March 2020.
Says Lee Robinson, Altana’s founder and CIO: “We are delighted to have become a signatory to the UNPRI. Altana is committed to the application of the principles and to conducting our business in a socially responsible and ethical manner.”
“Altana will regularly discuss ESG progress and results with its investors while our social impact fund is continually enhancing our knowledge of current best practices.”
Hopefully we’ll get some interviews - probably on stockbox - in the coming days outlining the partnership Altana will have with Corcel.
Just on the Avonmouth plant
‘ Currently, discussions between Corcel, ASIP and the landlord at Avonmouth regarding exclusivity rights are continuing and due diligence is underway, the Company cautions that there can be no certainty at present that Corcel's rights to Avonmouth will be formally extended.’
If you think about it logically, it’s exactly the same scenario as Burwell. We have a landlord with vacant land and Corcel has the valuable grid connection. Without the other, the project cannot go ahead and the label owner stands to gain nothing if they don’t come to an agreement. I think Corcel (now with funding secure) will manage to strike a deal with this landowner and tap into 1year capacity market and next years 10 year capacity market - it sounds like funding should be sorted to enable them to do this. Loads of news flow to come from the company this summer. Starting to get excited!
Metalhead good morning. To be fair what they’ve released is largely what SK had been hinting at (in December). They expect one fund to be able to and wishing to fund all FGS projects. I don’t think it’s a bad deal at at all £500k in the bank and a 50% carry on all FGS projects. As you say, I’d take that over no funding and no funding partner. They should now (at long last) be in a position to start getting the FGS off the floor and building them out. Avonmouth, yes we knew this and at least SK seems to be learning, tell SHs straight…. Under promise and over deliver
Corcel, the natural resource exploration and development company with interests in battery metals and flexible energy generation and storage, is pleased to announce signature of a Heads of Terms with a large-scale UK investment fund with a view to funding its current and future UK energy storage and generation projects. The Heads includes the award of an option for a direct investment by the same fund in Corcel's UK subsidiary which holds the portfolio of UK based energy generation and storage projects.
The Company is pleased to announce signature of a Heads of Terms defining a partnership with Altana Social Impact Partnership ("ASIP") to jointly fund and develop Corcel's UK energy storage and generation project pipeline, which currently includes a mix of battery energy storage and transitional energy generation projects at various stages of development. ASIP is a large UK based investment fund which invests across a range of asset classes with a social and ethical agenda.
Whilst the Corcel and ASIP partnership originated from the funding process for the two 50MW gas peaker projects at Avonmouth and Tring Road, the envisioned partnership is designed to be broader, potentially including multiple battery storage sites across the UK alongside other projects. Currently, discussions between Corcel, ASIP and the landlord at Avonmouth regarding exclusivity rights are continuing and due diligence is underway, the Company cautions that there can be no certainty at present that Corcel's rights to Avonmouth will be formally extended.
Alongside the funding relationship and with a view to participate in all future Corcel energy generation and storage projects, the Heads include that ASIP is also awarded an Option (the "Option") over 50% of Flexible Grid Solutions Limited (the Company's UK based subsidiary which owns the Company's portfolio of UK based energy generation and storage projects) for a total cost of £500,000. The Option will be valid for a period of three months. The Option is subject to detailed due diligence and ASIP's final Investment Committee approval. Upon execution of the Option, ASIP will be granted the right to nominate a board representative to Flexible Grid Solutions Limited as well as a right of first refusal to fund the first 250MW of FGS projects.
I still can’t see us getting Anchois to gas flow as Chariot given the news headlines and demand for gas during the colder months.
We still have a tiny MCAP and massive proven gas reserves.
The longer we stay under £1 and creep up, the more I think we will be bought out by a cash rich energy company, looking to secure supplies against a waining GBP.
Energy prices are set to increase more than 50%, pushing up bills for households and businesses, the World Bank says.
The biggest rise will be in the price of natural gas in Europe, which is set to more than double in cost. Prices are forecast to fall next year and in 2024, but even then will remain 15% higher than they were last year.
The World Bank said this means that from the lows of April 2020 until the highs of March this year we have seen "the largest 23-month increase in energy prices since the 1973 oil price hike", when tensions in the Middle East sent prices soaring.