If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Hi Rodez AB said they had ÂŁ27 m in reserves on the 31.10.2023 in the Proactive interview. AB said that put them in a good financial position for other JVs etc.
This JV should generate ÂŁ4.7m in year one plus "additional income from providing hydrogen and ancillary services". There is also another ÂŁ4.3m due from the Brett Aggregates trial. So I do not think cash flow is an immediate concern.
I completely agree with that Brightfuture, and thank you for the reminder Ogggs. This isn't a sprint it's a marathon. Especially for the long suffering long term holders. If the Tamgo and Acciona announcements are with us by the end of the year and Vard confirming a ship is up and running with our fuel cells in 2024 then we will all be more than vindicated in sticking this out. Good to see everyone on the board, pretty much, recognizing this as a good step forward.
Well done Adam Bond and the whole AFC team.
Hi Git. I think it's a term used in the US. See Wall Street Journal article below referencing WeWork being bankrupt and filing for bankruptcy.
https://www.wsj.com/livecoverage/stock-market-today-dow-jones-11-08-2023/card/wework-is-bankrupt-and-softbank-s-losses-are-14-billion-and-counting-0qi7ppzt5txbktqSgbia
The Power Towers were modified at the request of the customers over the past year or so. Agreements are being drawn up with Speedy and Tamgo. They'll be hired out via that route as is the norm in the construction industry generally. No need to panic. If hiring starts after the 30.11.2023 that will be great news. No point dwelling on what might have been.
If Tamgo supply AFC kit to Neom it would be immense. https://www.youtube.com/watch?v=AD79qvzrsY0
The risk reward is worth it. Even MelvinAFC agrees it's worth "a punt" despite his general disgruntlement.
If that's not for you buy an all world index tracker and a money market fund, put your feet up and rest easy.
You can't change the past Daz9643. No point in losing your mind about it. Technology advances, like the L series has advanced to the S series.
Hi Daz9643 did you not see this in the RNS on the 3rd September?
TAMGO currently represents international brands such as FG Wilson, Ingersoll Rand, Doosan Portable Power and Kubota with customers including Aramco and also Altaaqa Alternative Solutions ("Altaaqa"), another wholly owned Zahid Group company operating one of the world's largest mobile power modules rental fleets.
The Agreement supercedes and builds on the initial Memorandum of Understanding signed between Altaaqa and AFC Energy in April 2021.
Hi Garonne. We'd all love to hear that AlkaMem was working in the future. But I don't think it's vital to AFC's success. There is cash in the bank, more from the government coming. Let's see what Speedy and AFC come up with at the end of the month at Speedy's London launch. COP 28 starts on the 30.11.2023 so if luck really smiled on us maybe we could here something from TAMGO then too. Here's hoping. That would be a great end to the year.
Hi Garonne. Methanol and hydrogen can be used with the Power Towers. Then there is the ammonia cracker, key to the shipping solution with Vard. So AFC are in a better place.
Hi MelvinAFC on the 23rd August up made the following statement about yourself:
"Why on earth would anyone be here if they don't own shares?? Bizzare.. Yes I own many"
So are you one of the no bright ones too? And why do you own so many?
The fallacious argument we are discussing here is that there has been no news, as Garonne tells us ad naseum.
But Speedy are holding an online net zero conference on the 29.11.2023. And the very next day 30.11.2023 they are opening their state-of the-art service center in London with, amongst others AFC and Green Power Hire Ltd to show the latest hydrogen, battery and solar powered technologies. We've shown previously what a great pairing they would be.
See this link - https://uk.linkedin.com/company/speedy-services
Thetruthgb is in fact that Garonne doesn't find any news because he isn't looking for it. And sorry DW trying to switch the argument to the terms of the JV is irrelevant. No one will know the commercials as there will in all likelihood be an NDA. So you'll have to argue that one with yourself.
Hi Garmoan and Ade. So you would have us believe that when Speedy Hire and AFC Energy began negotiating to create a joint venture the conversation went something like this?
Speedy Hire: "Thanks for coming to see us Adam. Has anyone shown any interest in this new Power Tower thing you’re trying to sell?"
Adam: "No Speedy Hire there is absolutely no one interested in it at all. I don’t have a list of companies wanting to hire them at all. No one is talking to us anymore. But please just sign up to a joint venture with us because it will be a good role play for when it might work".
Speedy Hire: "OK Adam that’s some pitch; no problem, you've absolutely sold it to us there and no more due diligence is required at all. We are very busy at the moment but we'll get some of the directors and managers to drop some of their work and waste the next three or four months setting up a pointless joint venture with you. You can train some of our staff too while you’re at it, even though that’s pointless too. We could even organise a couple of roadshows for free. It’ll be a complete waste of all our time but hey we never got where we are today by being business savvy and analysing anything."
Adam: "Thanks Speedy Hire. I'm off to Tamgo next week because their people also want to do business with us selling nothing to no one".
Speedy Hire: “Oh I’m sure they will just sign up Adam. Your lack of trials, evidence and reason will be a fantastic selling point.”
Is that how it went do you think?
Hi Ade, come on you said don't be rude, let's get back to AFC. You are helping us hone in on this ÂŁ1m short answer thank you. Summary of today's learnings and two last questions, if we may. Please confirm everything is correct as I know you are all over this.
To make ÂŁ1,000,000 you will need to "borrow" ÂŁ3.000,000 of shares, which is 20,000,000 shares at 15 pence, (wowzers!), and get a "buy back" at 10 pence. I checked with the calculator and it agreed. Sorry my figures were a bit out first time and my wording clumsy.
The last two questions, for the team, are firstly, as you mentioned it, how much equity do you have to have at your brokers so that they are prepared to lend you ÂŁ3,000,000, as a "private investor"? And secondly are the fees really big too? It must be loads.
I have to say I am seriously impressed with your altruism. You must be so fabulously wealthy to get this type of credit, as a "private investor", and yet here you are day and night, (and even weekends!), despite almost certainly having far better things to do, you use your precious time chatting to us! We're honoured indeed! Any holidays planned - probably Bora Bora for a month with that much wonga!
Hi Ade - I put your 15p in and 500,000 shares and then sold at 10p but I only made ÂŁ25,000. Is there something wrong with the calculator?
Here's a helpful tool Ade to show us how much you have made so far https://leverage.trading/short-selling-calculator/
It allows you to do short selling calculations. Please explain how you will make your one million pounds so we can check your sums. Happy to be educated.
Hi Heath, I can help with some sums not that you need it. One way an individual could hope to make a ÂŁ1m from an AFC short would have been to buy approximately ÂŁ1m worth of shares at 12.48 pence in early July 2023 and wait for the price to drop to 1p. Could be a long futile wait that. But it would give you around a ÂŁ1m profit. The paradox is you would have needed to have been a millionaire to become a millionaire; so looks, feels, smells and sounds like nonsense. 4 months later the short has still made nothing, despite desperate attempts to talk things down by the neg ferrets team.
It's an incredibly risky bet too given the known and expected news from Speedy, Tamgo, Brett Aggregates, ABB, the ammonia cracker, Vard and so on. Unfortunately I suspect we will be stuck with frantic levels of whining for the foreseeable so long as that short is there. I remain optimistic particularly because of new posters from the construction industry now commenting. Good to see them here.
Hi Garonne. The article you link to relates to early stage research at a university, using graphene with methanol and formic acid fuels only. It also states, “The progress continues, but there is still a quite way to go.” We all know that means several years at least.
So, I don’t believe there is any imminent threat to AFC at all in that article. It’s just a random news story which happens to contain the words “fuel cells” in it.
Hi DW. This should be it. I believe this would align with the statement that the JV should be ready to go in the autumn. There is a lot aligning on 30.11.2023.
Thanks for updates Constructivenews and Westy54. Here is the link to the Speedy Services and AFC for those who didn't see it. Seems a highly probable time to announce the joint venture finalisation and start of sales, so not long now.
https://www.linkedin.com/posts/speedy-services_sustainability-sustainabilitymatters-innovation-activity-7125873300001415170-XnIL
Cop 28 where the EU will be pushing for the removal of fossil fuels well before 2050.
https://www.cop28.com/
https://phys.org/news/2023-10-eu-virtual-fossil-fuels-cop28.html
Well said brightfuture. Worth repeating that two significant contracts are being progressed right now with the Trowers and Hamlins law firm. Never mind the ammonia cracker news etc.
Speedy Hire
https://www.trowers.com/news/2023/august/trowers-supports-afc-energy-on-ground-breaking-green-power-initiative-with-speedy-hire
Tamgo
https://www.trowers.com/news/2023/september/trowers-advises-afc-energy-plc-on-key-multinational-hydrogen-fuel-cell-contract-with-tamgo
Hi Git. The intimation was they might not work which we know is not true, hence the challenge. The second rhetorical point, which is made regularly, is that there are no commercial sales (or rentals) yet. That is undeniable, to date, and of course we are all waiting, and the share price has unfortunately suffered.
If that is your only measure of the opportunity, then of course you will be unhappy, unless you are a hedge fund actively shorting the stock, or someone tagging along on that possibility.
But for me and many shareholders, I am sure, the Speedy and Tamgo collaborations and the Brett Aggregates news provided reasons to be cheerful, one, two, three. The Tamgo visit and Speedy roadshows have shown what was stated in the RNSs is happening.
As the Tamgo agreement emerged from connections made several years ago, why not be optimistic and imagine other existing business to business relationships may bear fruit. That is why LinkedIn matters. Business enquiries most definitely do come from that direction and lead to sales in firms. That is the point of it, LinkedIn for business, isn't it? If 1% of 10,000 followers bring a deal, or 5% go to a roadshow that would be very decent at this early stage, as we go commercial.
It is in this final quarter that AFC will achieve their first sales, and associated servicing and fuel provision, which the shareholders have all been looking forward to. This is the moment. You can argue at what price and so on but that is just hearsay until the next set of results comes out. We will just have to see.
As the RNSs released recently are progressing as stated, I personally think Adam Bond has done an excellent job this year, and that would not have been possible had he and his team not been working extremely hard for several years previously. So, I find the personal attacks on him just that, personal gripes rather than a reflection of what is happening today.
There are those in denial that events in the past three years affected supply chains in any way, for example goods from Europe and computer chips. I think they did quite significantly, do you remember that second-hand cars were more expensive than new for a while because you could not make new cars? Many companies would have been affected by that.
That is my rationale. Each to his own.