Corcel (CRCL)

Sector:

Mining

Index:

FTSE AIM All-Share

 0.43p
   
  • Change Today:
      0.000p
  • 52 Week High: 2.00p
  • 52 Week Low: 0.38p
  • Currency: UK Pounds
  • Shares Issued: 524.88m
  • Volume: 7,653,846
  • Market Cap: £2.23m
  • RiskGrade: 424

Corcel acquires stake in 'shovel ready' gas peaking project

By Iain Gilbert

Date: Monday 10 May 2021

LONDON (ShareCast) - (Sharecast News) - Exploration and development company Corcel said on Monday that it had acquired a 40% interest in the "shovel ready" Tring Road gas peaking project outside of Aylesbury from Arlington Energy.
Corcel took up the stake in the 50-megawatt project in order to provide "material additional exposure" to its existing UK flexible energy storage and production portfolio.

The AIM-listed group said the £400,000 consideration for the acquisition would be satisfied by £150,000 in cash and the issuance of 12.02m new ordinary shares in Corcel, locked in for six months, with Arlington Energy becoming a second "cornerstone investor" in the form, alongside the Chinese-owned outfit Sinom Group.

Chief executive Scott Kaintz said: "This is a highly significant milestone for Corcel. The addition of the 'shovel ready' Tring Road project to our existing Burwell project dramatically bolsters our position in the increasingly competitive flexible energy space here in the UK.

"We believe that gas peaking assets of this nature are essential to assist the transition to renewables and will provide significant trading margins given the variability of renewable energy production and the inherent volatility of UK energy demands."

As of 1330 BST, Corcel shares had surged 15.08% to 1.87p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Corcel Market Data

Currency UK Pounds
Share Price 0.43p
Change Today 0.000p
% Change 0.00 %
52 Week High 2.00p
52 Week Low 0.38p
Volume 7,653,846
Shares Issued 524.88m
Market Cap £2.23m
RiskGrade 424

Corcel Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
33.12% above the market average33.12% above the market average33.12% above the market average33.12% above the market average33.12% above the market average
20.97% above the sector average20.97% above the sector average20.97% above the sector average20.97% above the sector average20.97% above the sector average
Price Trend
95.36% below the market average95.36% below the market average95.36% below the market average95.36% below the market average95.36% below the market average
87.41% below the sector average87.41% below the sector average87.41% below the sector average87.41% below the sector average87.41% below the sector average
Income Not Available
Growth Not Available

Corcel Dividends

No dividends found

Trades for 16-Aug-2022

Time Volume / Share Price
16:13 27,368 @ 0.40p
14:23 921,376 @ 0.42p
14:08 250,000 @ 0.42p
13:16 82,071 @ 0.42p
12:06 22,831 @ 0.44p

Corcel Key Personnel

CEO Scott Christopher Kaintz

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