Post by
BayWall on Sep 09, 2024 3:52pm
2 cents worth
Seems like one seller unloaded shares. Insiders own around 42%. Easy to get the deal voted yes.
Lets get serious. What exactly is this deal about with Elemental Energy. Would be nice to have a more informative disclosure before getting my written consent. Don't want just the fact Elemental is giving $1.5 million to Oceanic and overseeing the project's progress.
Then where does Oceanic stand? Does it affect their share of the project?
Joseph Houssian (connected with Elemental Energy) owns 17.8 million 21% shares of Oceanic. Just like with the successful Intrawest Corp he ran years ago, he owned 4% and was then the largest shareholder.
Should we read much into the deal as if the project has a chance. If 200MW is the max allowed per project by BC Hydro, how does the Hecate project stand a chance where maybe need at least 400-600MW to make a go of it.