Courtesy of Windaddict 16/1222 Jan 2015 08:53
Well Rame Energy communicates well and Seawind did as well in Chile before that so there is quite some information available online (helps if you read spanish).
From what I know, and this is where my money is - Tim Adams is THE guy. He is a British engineer, very capable, who understands both the industry and the market at the same time. It is very tough indeed to go from a small Plymouth ran company with a couple offices here and there to a listed company, albeit on the AIM market.
As far as I know (and please note my information is based on extensive research only so I will try to be as close to the truth as possible but might still be wrong), Tim Adams and James Wilson built Seawind together over 10 years ago in the UK. They scouted the Chilean market way before anybody other renewable energy company based on a simple fact: Chile is an extremely stable country with large mining investments (copper of course but gold, slver etc) with huge needs in energy and whilst wind energy usually drives a small profit in most countries, it is largely different when mining companies are used to paying 38 cts / kW with diesel trucks! So with the idea that they could offer an alternative energy supply to mining companies at a large profit which would still be an excellent deal to the buyers - they invested heavily in Chile, building (and this is key), the most extensive renewable network in the country. I read somewhere they actually contributed to the rewriting of the renewable government policies there.
WIlson is i believe still a shareholder in the company but absolutely silent (not even on the board) whilst Adams runs everything. I think they struggled a bit in 2014 to choose the right team and hire people actually capable of running a listed company because whilst the business model is great, the company has now become a financial vehicle to develop, operate and eventually sell energy projects in Chile. Basically, they need to build and get the ball rolling and financing will then come by itself, cheaper and cheaper. But they need to deliver, and there is my bet.
Adams has managed to start bringing on board some talented people both from the financial and the mining world but the company has only be listed 6 months and my guess is we should see some change in the next couple years to appoint more senior people to the board and to run things properly. Thats one of the weaknesses we see in most young companies, it is usually tough for their CEO to let go some of the pressure they have on people actually more capable than them to run specific departments.
We'll see... Thats a complete guess.
I tend to chose carefully the companies I look at and follow them closely, I could absolutely be wrong and I guess the next few weeks are crucial to RAME but if they do manage to deliver (and today's message actually shows me they are planning to do so), then we are at 20-24 cts easy. Lead that to another Santander financing and we have a 50M comp
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