thurgarton1
22 Nov 2018
RA is obviously up to something, and since he owns 40%+ of VLS, he is surely compelled to act. Question is, if he wants to buy, at what level would he need to bid. Bear in mind Landsdown's holding was bought at more than 30p (SP inJan 18 - no buys since) and it surely wouldn't agree to taking a 50+% hit on its original investmentt)
JAMMY
22 Nov 2018
Ownership Norma Investments are the parent of Ervington Investments. Both belong to RA. Could RA take Velocys private since he has more than 40% ownership?
spannermonkey
22 Nov 2018
Ownership Whats you gut feel as to whats happening? Imminent take-over?
JAMMY
22 Nov 2018
A fuel value over $7.00 per gallon, and everyone’s chasing it: The birth of USA Bioenergy and the surge in renewable diesel Worth reading indeed…but there is a lot of wishful thinking as useful in BiofuelsDigest. Just consider this quote: “That’s good news for the likes of Red Rock Biofuels, which has established such a technology though jet fuel is what their primary offtakers are requiring.†There is nothing established and the first drop of jet fuel is expected in 2020 if all goes well! Another quote: "Perhaps the most intriguing company we’ve seen of late is USA Bioenergy, which has racked up agreements providing access to over 2 million tons annually of renewable and sustainable feedstocks in Oregon, Arkansas, and Arizona. " Have a look at usabioenergy.com and you will see that this is a lot of smoke and mirrors…
investmaster
22 Nov 2018
A fuel value over $7.00 per gallon, and everyone’s chasing it: The birth of USA Bioenergy and the surge in renewable diesel Worth a read… biofuelsdigest.com A fuel value over $7.00 per gallon, and everyone’s chasing it: The birth of USA... In California, we are now seeing project flow projecting a sustainable $7.63 price for renewable diesel in the California market, where the Low Carbon Fuel Standard stacks on top of the RIN values from the federal Renewable Fuel Standard. That's...
Donatron
22 Nov 2018
Ownership The plot thickens, Lansdowne have taken about 11m of the new convertible loan shares… The bulk of the shares for Norma International can therefore only have come from CQS? Janus have already confirmed their new holding and Invesco + Hargreaves + Jarvis would only be about 55m. Will update my table when I get to work.
Donatron
21 Nov 2018
Ownership Updating this again for the recent changes in shareholdings. Here’s what the website currently says: Shareholders owning more than 3% of the Company at 7 September 2018 were as follows: Ervington Investments Limited (21.12%) Lansdowne Partners (19.45%) CQS Directional Opportunities Master Fund Ltd (15.37%) Janus Henderson Group (10.04%) Invesco Asset Management (6.05%) Hargreaves Lansdown Asset Management (4.56%) Jarvis Investment Management (3.66%) We got to that stage because as that date: Ervington still held 82,442,443 shares. They took part in Jan’s placing but had not bought or sold any shares since then and hence their & ownership had declined as more shares had been issued. Lansdowne still held 75,913,020 shares. They took part in Jan’s placing but had not bought or sold any shares since then and hence their & ownership had declined as more shares had been issued. CQS previously held 30m shares (bought on 1 Feb 2018 from Invesco). They bought a further 30m on 10 August (half of the total from the August placing) and so ended up holding 60m as at September. Janus Henderson still held 39,221,271. They took part in Jan’s placing but had not bought or sold any shares since then and hence their & ownership had declined as more shares had been issued. Invesco sold a chunk of shares to CQS previously. Per the above, their 6.05% was about 23.6m shares when the total shares in issue was 390m (prior to the recent loan note conversion). Hargreaves Lansdown hadn’t bought or sold any shares as far as I can tell. Per the above, their 4.56% was about 17.8m shares when the total shares in issue was 390m (prior to the recent loan note conversion). Jarvis Investment Management were a new investor, so I assume they bought a chunk of the August placing. Per the above, their 3.66% was about 14.3m shares when the total shares in issue was 390m (prior to the recent loan note conversion). The above still left about 15.7m of the August placing shares unaccounted for as at September. 30m were purchased by CQS and 14.3m by Jarvis, out of a total placing of 60m shares. This doesn’t then take account of the recent loan note conversion. Per the RNS of 15 May 2017, 18m convertible loan notes were issued to Ervington and Lansdowne, although we don’t know in which proportion. Per yesterday’s RNS, Ervington hold no additional shares (see table at the bottom), so I assume there shares were all transferred to Norma. Norma International Limited are a second part of Roman Abramovich’s financial web and I would imagine that they therefore bought all of Lansdowne’s existing shareholding (75m shares), plus bought Lansdowne and Ervington’s share of the convertible shares (18m). That doesn’t quite total 91m, but it comes pretty close. Assuming any of the above is vaguely close to reality, here are the shareholdings that as they may currently stand. It will be interesting to see what further holdings RNSs are released to corroborate any of this information:
JAMMY
20 Nov 2018
The EFT Fiasco Of course not. He has a selective memory…
DaveHughes
20 Nov 2018
The EFT Fiasco He was referring to EFT losing out to BP at the Fulcrum plant; I don’t think he mentioned Juniper!
Donatron
16 Nov 2018
Interesting article about Red Rock Very interesting article about Red Rock and how much these types of projects mean to the communities in which they are built: oregonbusiness.com Oregon Business - Rural county stakes future on renewable energy Solar and biofuels come to Lakeview. The lake by Lakeview disappeared long ago, and so did the timber jobs. For years the seat of Southern Orego... Also interesting to note that “Congress excludes biofuel projects on federal land from generating renewable indentification numbers (RINs)â€. Not sure that affects Bayou, but certainly not something I was aware of previously.
investmaster
14 Nov 2018
Envia ENVIA I expect progress on ENVIA in light of Velocys recent comments in the last company update they said that the board of ENVIA are working on several options and I have confidence that the Velocys team will be driving this to get as much back from this as they can. I guess it takes time and I am holding back from getting frustrated at this time. The most important stat about ENVIA is it has been proven commercially and our technology is not flawed and the leak at the plant was caused by the cooling system failure which is not VLS technology. They have stated that there is plenty of exceptional data that they have received from the reactors running a commercial scale. This has been crucial with landing the UK project and the Natchez project. We do need to know on the insurance claim and on the Plant as a whole and what its future is. ASAP. This post will be placed on the ADVFN , ii and LSE boards to make available my research and comments to the average shareholder and not just a few. I have taken some time to glean this information and have absolute belief that this is correct and true despite the obvious backlash from a few dishonest posters who a ruined several good BB.s These are my thoughts and findings and hope that Velocys can keep us updated and communicate with all shareholders on a regular basis in a more consistent way than in previous years.
JAMMY
13 Nov 2018
The EFT Fiasco IM: I don’t know where you get the six reactors from but for the rest I agree with your assessment of the EFT technology. However the 1100 bpd Juniper GTL plant is equipped with EFT reactor and catalyst technologies. The start-up is planned for the 1st quarter of 2019. This is a commercial plant not a demo plant as ENVIA was/is.
investmaster
13 Nov 2018
Other Activities Other activities Regarding the UK Plant there has been some chatter already on the BB’s – Shell and BA are already very much behind this plant and Velocys. I am convinced that Velocys and the new Management have the full support of their major shareholders. EFT do not appear to have this level of strategic support as their technology would appear to be inferior and less advanced than Velocys I think we should get an update on the Natchez project as they must be in the process of on boarding one or more strategic investors these things take time to do right and in the best interests of the company and indeed all of us. My belief is that there is strong competition for the project from a number of companies. My belief is this will be a game changer for Velocys.
investmaster
13 Nov 2018
The EFT Fiasco I have been away and have now caught with events on the EFT side. I will try, as far my research can unravel (The internet is a wonderful thing) , to add some balance being placed on the Bulletin Board by the usual suspects who are intent on undermining the company and its technology. It my belief that these people are probably being orchestrated by the competition…. Who, I have no idea…… This is my honest opinion…. There is zero negative financial impact on the contract with Red Rock as we will still be providing 6 reactors to Red Rock just as the company stated in the interim’s EFT must have been pretty much wholesaled their reactor to RR or even given it away; I suspect EFT was removed by Fulcrum and its major partner BP and are using BP reactors which as far as I can see are still unproven commercially… But BP is Fulcrum’s major investor so they can do what they want…… So no big deal there and tough for EFT. What is clear is EFT could be in trouble as their technology, in my opinion, is not as good or advanced as Velocys or commercially proven. So EFT Technology has NOT been proven at commercial scale and probably may not be even used by RR as I would imagine it would involve significant replanning of the current plant to actually even put it in. Not sure on that point. If this is the case then surely RR would be very unlikely to do this, as it would be at possible significant cost to themselves. Are EFT up the creek without a paddle and could they go out of business because of this collapse in the relationship with BP time will tell…. So I believe Velocys are still on schedule without huge cause for concern and are probably even building the reactors for RR. Perhaps even as I type??? The new management will be pushing this through I have no doubt.
Donatron
13 Nov 2018
New CEO and CFO I’m not sad to see the back of Pummell tbh. Hopefully this new guy is a bit more savvy.
