http://www.afcenergy.com/

Dawnay, Day Corporate Broking Research Note

Aim Admission Document

Hi Victim,

Hope so as I have been in AFC almost since conception, that is AFC's not mine although at times it feels like it.

If I'm not mistaken : if crude rises then the AFC sp benefits I presume.....

Looking good Houston!

I still hate this share, but not as much!😃

Nice rise !.....markets responding well here.....

Yes , kicking myself never bought more on Monday .

That's just what I was thinking....

I think the proactiveinvestors interview was the springboard , i got the feeling he had to stop himself giving out too much info , it looked like things are better than he could say .

RNS says no new price sensitive info at the De nora conference , probably move down now .

Be good to see what follows the presentation as no meaningful RNS pre presentation, which is very disappointing.

All will be forgiven if a couple of contracts follow within a reasonable timeline, after all we are only 10 weeks from end of year.

Was just going to post that this looks like going to 12 again , but it's moved up , wonder if a few bits got out of De nora conference . Good bits that is .

Commercialisation of their stacks is coming soon apparently so I would suggest there is more upside than downside at the moment.....a drop like we have had turns into a rebound....this company has the potential to much improve its valuation in future months to come....well that's my view anyway....and I get things wrong all the time...so...we shall see...but I'm staying put...and might add to my holding....crude is rising gently and this sp it seems is very much linked to WTI and Brent.....

AFC will be a very long hold with fingers x'ed that it doesn't fold in the meantime

I think we need Neil Ricketts as head of this Co , I think we would be more informed on a regular basis . It's obvious Bond did his Management courses with MI5 , not a word in nearly six weeks .

Well it's been 2 months since " throughout the course of Q4 17 I will be providing you with updates on progress made ", not very good Mr Bond is it , maybe we need some truth .

Yes, I noticed that the other day and was very tempted to e-mail them via their website. Poor PR in my opinion.

The feeling is one of deception Harry , he said what he did and has failed miserably to comply , we've had two presentations and not a word on the results . I have a fear there's a rights issue or something coming along , or an extension to timescales , been in this share must be 10 years , fool me .

i mugged myself into buying this one too and it has been worse than dismal
fortunately, my holding c/p was less than 50% of my basic norm

Well two RNS's out today , hopefully things are on the move at last should rise a bit .

Hi Victim,

These two sections of the RNS say it all, IE we are not going to get any meaningful contracts or even one as targeted by end 2017.

Final design and drawings for fully revised fuel cell stack configuration completed, integrating the new cathodes developed with De Nora, after extensive simulation engineering and interrogation by our technical teams. Full system demonstration expected by mid-December 2017 incorporating enhanced stack flow plates, cartridge and associated materials.

A RNS several months ago stated that the full cells developed with De Nora, were fully integrated into into the fuel stack system with excellent results and yet they now state that the cathodes delivered under the Joint Development Agreement with De Nora require slightly different operating conditions to the AFC Energy cathode which means adjustments needed to be made to the overall system.
So if the previous results were excellent, why do they now require adjustments. They were either excellent or not!

Also note,the following from the RNS, Now awaiting, Put the new design on test, and Focus on delivery to the Stade facility early 2018.

Reading between the lines it reads that ,'The product is not yet ready for commercial saleability and won't be till early next year (how early is early!At least we got an update that we have been screaming for, problem is it is not the update we were wanting.
Not even a mention of still on track for several contracts by year end, so perhaps they are not.
I doubt the above will effect the sp, but if it does I expect a downward slide.