Member Info for Temple_of_Doom

Took the 166-170 yoyo on thursday averaged 162 friday bailed this morning at 167 whilst clearing out this time last year at 179 ... before going ex divi. Historically, I've liked this share, but Kounrad seems to be winding down and as a result I expect the shareprice to follow suit unless a significant find/buy can stem the tide.

"Primary Energy provides efficiency enhancing gas generators for the US steel industry, and like most of SEIT’s holdings does not rely on any subsidies."

Down to a comfortable hold for GSF and not too bothered about SEIT given the above and Trump's USA Steel push but will reverse back with another 5-6p GSF/SEIT differential as in last December.

To be honest … the partner’s account that I manage had a meaningful position in GCP … and the only account in the household with a significant holding. I tend to take fewer risks with other people’s money - so she is happy.

Myself I’ve pairs traded NESF with GCP the past 18 months or so … so with a 7p differential a few months back bailed GCP for NESF waiting for the gap to close.

So “good trading” on her part but not my own. :(

Back in.

Good week.

Sell on the rumour buy the fact … took 79p this morning.

"China’s new CfD model will be similar to the one in the UK " .....

Agreed rylidan ... top sliced GSF to add here this morning .... I've pairs traded GSF and SEIT on the way down from 60p towards the end of last year. Recent history has seen heavy selling in the last hour in SEIT but respite taken today with updates due this week. Fingers crossed.

Time to play catch-up.

Spare a thought for the hedgies getting burned today .... not. ;)

The current laggards in the sector in terms of falls the past 4 months are TRIG & SEIT. I’ve top sliced here as of this morning and popped into both for more. Each to their own but GLA again.👍

Correlation across sectors is quite common in the financial markets. Enjoy and GLA.

"Sadly I have no allowances worth much as I am higher rate tax payer."

If saving for the longer term ie retirement - it makes absolutely no sense to put money into ISAs .... Income Tax is claimed back from a SIPP ... to be returned as a 25% lump sum on retirement, whilst 40% tax payers put a claim into HMRC at the end of each tax year and receive a cheque for the 40%-25% = 15% of tax as cash from HMRC each year .. that can then be put into the SIPP claiming another 25% tax.

" keen to understand methods to minimise tax as i approach retirement" - Max out on the SIPP and claim tax back each year whilst looking for a lump sum to go if you can. Bear in mind any lump sum will be taxed above £30K - so steps need to be taken to claw that tax paid back. I used an offset mortgage for a house extention that I didn't bother with to generate a £60K interest free overdraft - so used that money to feed into the SIPP claiming back tax on the lump sum since the money received counted as earnings, then on retirement took the 25% lump sum to pay back the offset mortgage. I avoided paying around £25K in tax that way - thereafter feed any surplus lump sum into ISA.

Anyways … working from December 2024 figures .. with full energisation and average revenues of £10 per MW/h for 700 MW should be bringing in around £62 million a year - subtracting costs etc leaves headroom for the £35 million a year needed to pay dividends at 7p a share.

“ They have 500m in assets, 30m in cash and 80m debt. (my rounding down)‘ … NAVs are pretty meaningless and at best an indicator - recollect we don’t know exactly how NAVs are calculated.

Short term relies upon the tax credits being realised as revenues - I think it will happen. The question to ask is revenues per storage unit required to cover costs …. GSF are expecting £70 million but work out the lower figure needed to pay divis and overheads.

Cash held by the group fell from £65 million to £36 million between March-December 2024. Could pay and makes any sense to pay are two different things entirely. A 4p dividend will cost £20.2 million to pay leaving not a lot of headroom hence increase in RCF in my view, coupled with the need for the tax credit to pay the full divi pledged this year, again in my view. It would be irresponsible to lose the tax credit and risk insolvency and/or fire sale of assets because cash ran low.

The tax credit should be submitted by April just in time to cover the 4p dividend due in Q4 …thereafter it will be interesting to see what pans out with the USA Canada spat over electricity … expect volatile prices …. this time last year … with hold ups in LNG exports US Gas futures hit 30 year lows in real terms while US gas futures are up 200% on this time last year …. that with Trump demanding EU etc buys more US gas would imply prices stay high …. bizarre … that a President pledging to reduce energy prices would want to push exports keeping natural gas prices high for US folk … but there it is.

Looking forward to US Energy Prices spiking myself.

''Looks like HFEL could dip back again under the 200p level.''

It is a possibility - I cut again at 225p -back in for a small amount 218 last Friday. A few years ago, the yield here at close to 8% even at 300p a share was attractive - not now compared elsewhere - Taiwan remains a worry especially with Trump.