Member Info for tennents

Bilbo

You have to add the £10 per post fee from his owners.

I hold Ceres as well as ITM. So I thought this might amuse a few here.

Two (CWR) shorter positions increased the day before yesterday.

That was the day before; first, a 14% price increase, then a 17.5% increase.

I thought these guys were infallible super-beings. Apparently not always.

Tick tock, tick tock.

Remarkably two of our shorters increased their shorts the day before yesterday.

Immediately before a 31.3% increase. Bet that hurt a lot lol

Just a small note - we do not have a European partner making fuel cells for the UK (and European) market. Maybe Doosan would be up for such contracts.

But we do need a partner here, especially for when the electrolyser test in BP India comes good.

Lejjb

There has also been a major positive change in the USA markets regarding H2 shares. In the last month increases include:

FuelCell 89%

Bloom 85%

Ballard 30%

Plug 27%

Not only Plug. Fuelcell and Bloom also soaring in US tonight.

Tick tock

And we are not impressed that you left the AFC board and did not constrain your endless whining to folks over there.

Do us all a favour Garmoan - sell up and shut up.

The Scottish Power Whitelees was planned on the basis that Glasgow would be running 550 H2 buses. No such buses have been ordered and it is now highly unlikely they ever will be because the Scottish Government is skint. So, no off-take, no point at this time.

Interesting to note that the first RNS for this project was April 2020.

Troublesome

Spot on - indeed, who cares what he says? We all know it is a bunch of lies/distortions/mistruths.

Still being a paid poster, what a sad and pathetic way to make a living.

Kind of like being Donald Trump's press spokeswoman - paid to stand up and tell lies all day, every day.

New is well recognised for what he is by all here.

Spicy Tuna - the fish that's had its chips.

Spicy Tuna - the fish that's had its chips. The end.

Never let the facts get in the way of a good Sushi story.

“especially with the UK Prime Minister diverting funds from hydrogen to AI”

Now some facts – and a very different story. The projects are competing for the use of specific land in Teeside. This is not just about money.

This is BLUE hydrogen, not green, so no issue for ITM.

H2Teeside is interesting. It not even the only Blue H2 project in Teeside. There are six large-scale proposals in the UK.

H2Teesside (Teesside) ~1.2 GW; H2NorthEast (Teesside)~1 GW; H2H Saltend (Humber) 600 MW; HyNet – Stanlow (Northwest) 350 MW+; Vertex Hydrogen (Merseyside) ~1 GW; Acorn (Scotland) 200MW (may include Grangemouth)'

Two Blue plants in the same place offer some scope for redundancy.

However, AI data centres require a significant amount of electricity. They don’t use blue gas.

So why is this particular site in Teeside so special? Well, electricity and lots of it.

In 2026, the third and final phase of the Dogger offshore wind project, rated at 2.6 GW, is expected to be completed. That power is coming ashore to a major substation at Lackenby.

Lackenby is in Teeside. Located there because the Hartlepool nuclear plant is just across the river, and the old British Steel and ICI chemical complex consumed vast amounts of power.

So, pretty much the ideal place for a power monster AI data centre. How many alternative and equally suitable locations are in the UK? My bet is that, given the current state of National Grid redevelopment, it is none. That being so, Teeside will get the Data Centre.

As ITM holders, we like Teeside because we are part of the EDF green project, 100MW, and have a good chance of being selected for the second MorGen project, 60MW.

Bring it on !

Sushi

Your knowledge and research skills are hopelessly inadequate:

"you have no idea what price Qube paid for their positions, this is not publicly available information"

For the 38 transactions post Qube, breaking 0,5% in Oct 2024

Dates – public; Volumes – public; Prices on the day - Min and Max – public; Availability of spreadsheet software – public.

For non-public transactions under 0.5%, some reasonable assumptions can be made.

Were they all at £4? – No, would have been closed at a staggering profit ages ago (25p?).

From Jan 2024 – 10 months before 0.5%, the ITM price was 60p and sliding down slowly with a few spikes to 70p.

Qube trading post-0.5% pattern – frequent, total 38 in 11 months. So were they asleep before that and burst into life at 0.5%? Seems unlikely as this is all in a period of a reducing ITM price, i.e., of diminishing potential for their short. Note also that the volume of shares traded in this time is 80% of the total, so any high margin on the earlier non-public purchase has been diluted to 20%.

Hence, it is probable that the non-public was established in a relatively narrow period before October 24. If not:

1) Why would you not have taken the much larger profits available then (and not now)?

2) Why would you accelerate into a diminishing potential for profit (and increasing potential for losses)?

So dear board members, I repeat my views.

1) Qube have lost a shed of money on this so far

2) They are increasing their short to increase their average price and try to reduce future losses

3) They are currently well underwater

And all because

1) They entered ITM way too late. Actually, 3 years after Helikon opened.

2) They did not close at our circa 25p lows. Which they did do in Ceres.

Ooops – another inconvenient truth Sushi.

LongJohn

Qube are indeed 'all over the place' on this one. Since surpassing the 0.5% limit in Oct 24, they have increased 21 times and decreased 17 times. So, starting with 3.2m, adding 7.3m, and deducting 5.5m; they are now 5m shares short. They open with an average of around 50-52p and were actively adding at increasingly lower prices (28/29p was about the lowest addition), reducing their average, but not as quickly as our price was falling.

I calculate that in their first seven reductions (till Feb 25), they made a notional profit of circa £250k. In the ten reductions since May 25, they have lost around £760k.

The reason they are adding just now is to try to reduce further losses by increasing the average price of their current holdings, and hope (or try to make) our price fall closer to that level and then gtf out of here.

In July/August, they raised their average from around 42p to 58p. And I bet they wish they had closed when we were 25p in March/April.

But they did not, and the many movements in their short life are like a large, fat fish with a very uncomfortable hook in its mouth, knowing it is being dragged closer to the abyss, and its wriggling becomes increasingly frantic.

As I might say to the grandchildren; ‘And the moral of the story is that is what happens to big fat fish that get too greedy.’

And they will reply. Does that mean we get sushi for tea tonight?

Eastwood, one of the collateral benefits of our Linde relationship is that ITM have an in-depth knowledge of their technical stand arts and service expectations, so the means of transport was designed to meet both from the start.

Minimising the potential sources of friction or failure before you start is what real quality assurance is about.

the Dennis edition of ITM reeks of it.

I would like to see a new partner in Europe. Thinking especially about the electrolysers. When the Shell test data comes out there will be a lot of refinery operators wanting this kit. It would be nice to have someone who could build it, possibly a specialist in heavy-duty petrochemical plant manufacturing.

No objections to getting someone in the USA with the same specialist petro-chem expertise. I wonder if that means two partners because SOFC is looking at a very different market.

Trucking for sure. Eliminates the need for any handling on the trip. Not touched from when they are loaded in Sheffield till they are craned off ready for installation. Not a long road trip from Sheffield to Germany. They will have a very smooth process by now.

He won’t be gone. He is a paid troll. Read his posting history.

Does every time I see a green post here mean that an angel gets their H2 fuelled wings?

Or does it mean some boiler room scally earned £5?

How cool is that !!!

Citadel, one of our two 'newer' shorters reduced below the 0.5% reporting level.

I calculate that they have lost quite a lot of money - arrived here far too late.

Digi. I return to grovel. You are right and I misread the table. It is called optimism bias, reading what you want to see rather then what it actually says lol