SIMEC Atlantis Energy (#SAE) – proposed £6m placing at 12p per share & PrimaryBid offer

Simec Atlantis Energy – why a 7 month delay in announcing the truth via RNS?

My understanding of the disclosure requirements for AIM listed companies is that material price sensitive information known to the company has to be disclosed without delay via RNS. Today Simec Atlantis Energy (SAE) has updated the market by RNS on the Uskmouth power project. The share price is off 20% today as I write, but the key “news” was all detailed in my article in April and put in the public domain prior to that!

Simec Atlantis Energy– Covid19 delays. My foot!

I have commented on Simec Atlantis Energy (SAE) on a number of occasions noting both the use of retail bond funding (immoral) and highly questionable technical and commercial merits of its operations. Today we are told Covid19 has impacted the timing of its flagship project – Uskmouth Power. I think this is rather disingenuous.

Simec Atlantis Resources – When’s the placing?

I commented on Simec Atlantis Resources (SAE) in August in some detail and I called it a sell based on the technical and commercial situation. I further commented on what I considered an immoral retail bond offering. Today we get three RNS‘s covering developments in various parts of the business which will add to cash consumption. So when’s the placing?

Simec Atlantis Resources – Perhaps the most immoral company I know of?

I commented on the investment case for Simec Atlantis Resources (SAE) a few month ago – I called it a sell and justified my opinion at some length. Having reflected on my prior article, and frankly all writers of opinion on investment cases should reflect on their opinion, I am now clear this company’s retail bond offering is at best immoral. For a “Green Energy” company what could be worse?

Simec Atlantis Energy– More Red Flags than Red Square on May Day!

I have provided input to projects in the UK power sector over the last 30 years, initially in the “dash for gas” in the early 1990’s building gas fired combined cycle plants but in recent years in the “renewable sector” of waste to energy generation. I thought as a change to looking at Oil and Gas companies I would have to detailed look at one active in the renewable sector - Simec Atlantis Energy (SAE) caught my eye. High technical and commercial risk, does not begin to describe my conclusions!