Market's view on Simec Atlantis
Published on April 2024
- There is little current activity or interest in driving the stock price up, even with options issued to incentivise improvements.
- Concerns are noted about the complete lack of updates on the Meygen expansion, with doubts about its financial and operational feasibility.
- There are discussions around the value of the Uskmouth site for development and mentions of cash in the bank, suggesting a revaluation is needed.
- Debates exist around the appropriate allocation of funds towards debenture repayments from recent restructuring.
- Questions are raised about the transparency and access to trading updates, with some stock watchers unable to access recent news.
- Frustrations are voiced over the company’s level of debt, which is seen as a significant factor hindering stock value appreciation.
- Positive reactions are shown towards a recent RNS, indicating potential value at Uskmouth, but concerns remain on the viability and funding of the Meygen project.