DEL (ASX) Ann: December 2022 Quarterly Activities and Cash Flow Report

Originally posted by desertredlion: ↑

Retail division was always smoke and mirrors, in my opinion. No different to Amaysim, Aldi Mobile or another re-seller of Telstra/Optus/Vodafone utilities; or one of the dozens of power companies buying on the open market or from Origin or AGL, and putting their logo on the invoice. We never had any real re-newable power to sell. I was never able to find any advertising or information online about to whom Delorean was selling this power or how it was being promoted. The whole division is a mystery to me. I was unable to find a single advertisement anywhere about our retail energy division. I still don't know where it existed.

When we have these plants built and actually have something to offer (clean, green gas or electricity) we'll have the licenses and relationships with AGIG, plus perhaps the billing software already in place. We won't be starting from scratch and the previous efforts won't have been for nothing. We are further along the learning curve, for what that's worth. It will be easier to re-activate what we were doing than to begin from nothing. I suspect we won't actually be selling our green gas or electricity. We'll simply inject X number of units of gas into the mains pipeline per year, and sell an equivalent amount of units under the Delorean name as it comes online. I always thought the retail division was disingenuous. We can't claim to be a re-newable, vertically-integrated clean energy company and sell gas or coal-generated electricity as Delorean Energy.

Unfortunately, the more we average down (quite easy, at the current share price!) the more exposed we are to DEL. As the share price only seems to move in one direction (down), the greater the losses and the more averaging down that is required in the future at even lower levels. What a sad state of affairs! It wouldn't be hard to dump a large-ish amount into DEL and average down to 7 or 8 cents. That would be great, if there was some upward movement and chance to break even. Here's hoping Final, Final FFID will bring some turn-around in our fortunes. I still think 2022 was a wasted year. If everything falls into place this year, all the hard work and grief will have been worth it.

I'm not valuing DEL on any P/E or Price to Sales metric. It's all about building these plants and their enjoying their future recurring revenue. What makes me nervous is how totally beholden we are to Palisade now. Retail division is gone. If we don't have their funding and FID approval for the plants, we really have four fifths of bugger all. Which makes this a speculative investment, and not somewhere I want to have a large amount of my portfolio or wealth.

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They should rebuild the energy division after they have VIC1 and SA1 online and rebrand it to a stronger name. It would be good to form a partnership with Palisade as they hold a strong portfolio of wind & solar sites that have the ability to power 150k+ homes. Palisade is just selling it to Origin and AGL, whereas they could work with us as DEL already have licensing for both the WEM and NEM.

We provide the green gas to customers, the brand/products, licensing & expertise, they provide the strong green energy. The fact DEL was doing $40m in revenue just from the retail division with 0 marketing and presence is quite crazy. Imagine if they had a strong brand with a good website and marketing presence.

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Last 5.0¢		Change 0.002(4.17%)		Mkt cap ! $10.78M

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4.8¢	5.0¢	4.8¢	$3.604K	73.48K


Last 4.9¢		Change 0.002 ( 4.26 %)
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Last updated 15.33pm 23/05/2024 ?

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