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REC Silicon ASA (RNWEF)

Other OTC - Other OTC Delayed Price. Currency in USD
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1.4900-0.1100 (-6.88%)
As of 12:10PM EDT. Market open.
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  • j
    johnie
    No much activity here. Unless this company is dishonest, and I doubt there are, it should have a great run up - eventually
  • b
    blackoutbuzz
    Yahoo quote on the Norway-listed ticker is broken. REC.OL is set to test a high of 21.34NOK last reached back in May 2016. Could the stock recover to the ~50NOK level last seen in 2014? The ~200NOK level of 2011? The ~500NOK mark of 2009? The ATH of ~2100NOK hit back in 2007 seems an impossibly distant and long-faded dream. FX rate USD/NOK is ~8.50.

    https://www.reuters.com/companies/REC.OL/charts
    REC.OL - Rec Silicon ASA Charts | Reuters
    www.reuters.com
  • b
    blackoutbuzz
    Huge move on an announcement for a facility coming in 2023??

    @@@Woodinville, WA & Moses Lake, WA (October 13, 2020) – Today Group14 Technologies (Group14), a global provider of silicon-carbon composite materials for global lithium-ion (Li-ion) markets, and REC Silicon ASA (REC Silicon), the leading producer of advanced silicon materials, announced the two are partnering to develop a full-scale, co-located commercial production facility at REC Silicon’s Moses Lake plant. The facility underlines Group14 and REC Silicon’s collaboration in relation to ongoing pilot plant production and testing at REC Silicon’s FBR polysilicon and silane gas plant in Moses Lake, WA. The large-scale commercial facility will be the first and largest silicon-carbon anode material plant globally that will enable lithium-silicon batteries and accelerate the electrification of everything. The full-scale facility is expected to break ground in 2021, with the capacity to bring 12,000 tons/year of advanced silicon battery materials to the global Li-ion market by 2023.

    https://finance.yahoo.com/news/rec-silicon-group14-technologies-rec-050000000.html
  • b
    blackoutbuzz
    REC got an 8.3M USD CARES loan in Q2. Now news is out that the Norway tax office has dropped a longstanding suit for over $20M USD that REC had on the books as a contigent liability. Add in the prospects of a Biden govnerment with their shiny green new deal and a global shift to renewables and speculative frenzy in all things solar and voila. REC lives to fight another day (not night, 'cause the sun don't shine at night). WIll wonders never cease?

    @@@Oslo, Norway – October 1, 2020: REC Silicon ASA (REC Silicon) has previously disclosed notices of reassessment from the Norwegian Central Tax Office (CTO) regarding tax returns for tax years 2009 through 2011. (See note 31 to the 2019 annual report for additional information https://epub.artbox.no/recsilicon/ar2019/76/) REC Silicon received information from the Norwegian Tax Administration through legal counsel on September 30, 2020 that issues raised to deny deductions taken by REC Silicon during tax years 2009 through 2011 have been dropped. In addition, the Norwegian Tax Administration informed that after a thorough examination, also considering the elapsed time, they did not find a reason to move forward with other issues raised in the draft decision including the classification of capital inflows as equity deposits. The resulting decrease in short-term liabilities of approximately USD 26.5 million, income tax benefit of approximately USD 21.9 million, and the reversal of interest expense of approximately USD 4.6 million will be reflected in the Company's third quarter 2020 financial results, which are scheduled to be released on Thursday October 29, 2020.

    https://www.globenewswire.com/news-release/2020/10/01/2101845/0/en/REC-Silicon-Examination-by-Norwegian-Tax-Administration-Dropped.html
  • b
    blackoutbuzz
    Meanwhile RNWEF trades quietly on the OTC market here in USA. Someone appears to be catching on though. The stock hasn't been this high in years. Never would have expected a rebirth of this previous giant of the solar power industry as an EV play.
  • b
    blackoutbuzz
    So who owns a big stake in RNWEF? Apparently this investment company that is planning an IPO. Quite timely and undoubtedly meant to capture the exhuberance surrounding renewables. If the IPO takes off then so does REC I suppose. Just how high is the question. I'll happily settle for 200NOK.

    >>>January 19 (Renewables Now) - Norwegian industrial investment company Aker ASA (FRA:FKM) intends to float its renewable energy platform Aker Horizons AS in an initial public offering (IPO) on Euronext Growth in the near term. The idea is to transfer that initial listing of Aker Horizons to Oslo Børs within 12 months. The IPO is subject to inter alia market conditions and investor feedback...Aker Horizons is a platform dedicated to investing in, incubating and developing companies within the fields of renewable energy and decarbonisation technologies. The goal of the firm is to develop projects with a total capacity of 10 GW and eliminate the equivalent of 25 million tonnes of carbon dioxide (CO2) emissions per year by 2025. Also today, Aker presented an internal restructuring plan that will result in Aker Horizons indirectly holding 51% stakes in each of Aker Offshore Wind AS (AOW) and Aker Carbon Capture AS (ACC), as previously announced, and 24.70% in REC Silicon ASA.

    https://renewablesnow.com/news/update-2-aker-preps-for-ipo-of-renewables-platform-with-internal-restructuring-728333/
  • N
    No Short
    Wow did not even remember I bought this one.. Nice....
  • G
    Gino
    Okay guys. Just looking into this. How do I buy the shares? What platform are you using? Can’t find anything. Thanks for your help.

    Signed Newbie
  • E
    ESBO
    a collegue company: HPQ Nano Silicon Powders inc (“HPQ NANO”), has received a request for Spherical Nano Silicon powders to be produced by the PUREVAP™ Nano Silicon Reactor (“NSiR”) from a major automobile manufacturer which, when concluded, will represent the first order for these powders.
  • F
    FREE
    @ blackoutbuzz
    it would be very helpfull for me to clarify what do you believe about the prospects of the company - stock.
    Thank you in advance.
  • b
    blackoutbuzz
    REC Silicon is a veritable phoenix arising from the ashes if I ever saw one. Hilarious.
  • b
    blackoutbuzz
    Welcome to upside-down world. Years ago USA placed tariffs on solar cells and panels imported from China. China retaliated with tariffs on imports of poly-silicon. Fast forward a decade later and China now produces most of the world's supply of poly-silicon, and USA wants to block that poly-si from being used in solar cells. USA is increasingly desperate and powerless to stop China.

    @@@The U.S. government and the U.S. solar industry have grappled with how to deal with this problem right now. The U.S. government has previously sanctioned people and entities in Xinjiang, and there are efforts to understand whether similar measures might be employed to stop polysilicon produced with forced labor from finding its way into solar cells and modules. The U.S. solar industry, for its part, has promoted a “Supply Chain Traceability Protocol” to improve the ability of companies to understand where the various components that make a finished product came from. These initiatives have merit, but they also speak to the difficult position that the United States and the industry find themselves in. Xinjiang is too important in the global supply chain, and there is no realistic, short-term way to get rid of polysilicon from Xinjiang without also slowing down the deployment of solar energy for several years, not just in the United States but around the world. There is some latent production capacity—several production lines have been shuttered in the United States and in South Korea—that could possibly restart under the right conditions. But this will take months and maybe years, depending on the condition that these mothballed facilities are in. Some have been repurposed already and may no longer be available to resume production.

    https://www.csis.org/analysis/addressing-forced-labor-concerns-polysilicon-produced-xinjiang
  • b
    blackoutbuzz
    Earnings coming up Feb19. Special shareholder meeting announced for March 4. Looks like the Chairman of Aker ASA (that holds an ~30% interest is REC) wants to oust the existing board and become Chairman of REC. What stellar credentials this Rokke fellow has... Fisherman. Now the richest person in Norway. Convicted of corruption. He'll do a great job steering the REC 'ship' to success.

    • Kjell Inge Røkke (chair)
    • Annette Malm Justad (deputy chair)
    • Audun Stensvold
    • Lene Landøy

    @@@Kjell Inge Røkke (born 25 October 1958) is a Norwegian billionaire businessman. Røkke launched his business career with the purchase of a 69-foot (21 m) trawler in the United States in 1982, and gradually built a leading worldwide fisheries business. In 1996, the Røkke controlled company RGI purchased enough shares in Aker ASA to become the company's largest shareholder, and later merged his company RGI with Aker ASA. Røkke serves as chairman of Aker ASA, as well as a director of Aker BP, Kværner, Ocean Yield, Aker BioMarine and Aker Energy. As at 31 December 2018, Røkke holds 68.2 per cent of the shares in Aker ASA through his investment company TRG AS and its subsidiaries.[2] He was convicted of corruption in 2005 and has served time in prison.[3] In 2018, Røkke was considered to be the richest person in Norway, with a fortune of NOK 20.6 billion,[4] approximately 2.4 billion U.S. dollars.

    https://en.wikipedia.org/wiki/Kjell_Inge_R%C3%B8kke
    Kjell Inge Røkke (born 25 October 1958) is a Norwegian billionaire businessman.
    Kjell Inge Røkke (born 25 October 1958) is a Norwegian billionaire businessman.
    en.wikipedia.org
  • b
    blackoutbuzz
    Flowers bloom in the spring. There's plenty of flowers out there getting ready to soak in the sun, not just Violets.
  • M
    Msingh
    Buying this is like buying Microsoft in the 80s.
    Bullish
  • m
    matt
    Why the big move? Pump and dump?
  • y
    yzyg
    What do you guys think about HPQ Silicon ?
  • G
    Gut Feeling
    I just bought some shares, what are people’s thoughts on this stock?
  • J
    Jakub
    https://www.youtube.com/watch?v=LM8DUnQxQa8

    Minister of Energy J. Granholm mentioning a new soon to be announced public/private partnership at 7:40. Rec also participant in this roundtable at 19:40...very interesting!
    U.S. Department of Energy Roundtable: A National Lithium Battery Blueprint.
    www.youtube.com
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