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On the point of support from the MOD he kept mentioning what sounded like "DMS". Didn't catch what was meant by that. During repeated mentions of required support what he failed to mention was any support, technical or otherwise, from other partners of Team Resolute, namely Navantia. They would certainly be more experienced and up to speed with modern practices than maybe some of the current Harland and Wolff set-up. Experienced Greybeards and newly drafted in appointees aside. What did stick out was the comment that if the y get it wrong then they won't get another chance from the MOD. Basically, they only get one shot, so do not miss the chance to show, this opportunity comes once in a lifetime, yo! :)
You are spot on stokey. re10:27
I wonder how the Defense Select comm. will react to this comm. final report as their opinions differ -(well the chair's anyway)
Consuela, quick question, why are you so desperate for Harl to fail? I assume you would rather jobs and skills and the economic growth that flows from them went elsewhere rather than NI? Vietnam maybe? South Korea?
Consuela ref 09.31 post with your clear anti HARL views you would say that. The point made by Professor Taylor at around 1.18 does not support your interpretation in my view. His points were firstly that the capaicty may not be and HARL may not be able to recruit the numbers needed. This is not anything new it is in fact one of the items on thenrisk register. The second point is that due to the size of the contract and its importance MoD should in a supportive way monitor the delivery contract and be ready to give help if needed. I note the example that he gave was the Ajax where the MoD let the contract then just left the contractor to it. Clearly with the problems that Ajax has had that was the wrong approach.
Stokey, at that level, when someone repeatedly states "Big Challenge" you need to understand what that means... the message is very clear in those two words and he's being professional in his choice of words. He probably wanted to say car crash.
Witnesses definitely suggesting to go down the route of having 3 strategic partners, and then smaller sme's (due to red tape security clearances etc) to flow through these 3 key major approved primes instead; to achieve mod work.
not sure what the issues are exactly with the apprentice levy they mentioned.
Consuela ref 19.48 post I think if I recall you are referring to the witness from the RUSI. The witness from ADS Northern Ireland did not say that. Also they referred to the three Primes in Northern Ireland Spirit Aereosystems, Thales and HARL. The thrust of the evidence certainly from ADS Nortern Ireland is that work to the SMEs flows from the three primes. In short they were arguing for work to go to HARL.
Also while the RUSI representative did refer to FSS assembly as a big challenge he did not say that HARL would not succeed it comes down to the preparations for the contrract.
Not a binary choice , definitely the latter and enroute to becoming the former , no doubt with many issues to overcome . Incredible progress achieved thus far imo.
Nobby31,
"Infant industrial behemoth" or venerable, historic builder of the Titanic?
Make your mind up.
Have been caught out being polite myself on a previous occasion so tend to be very watchful and maybe a bit over wary.
Obviously have to be careful not to call it and get it wrong. But so far, I've been pretty spot on so thought a nod in the general direction might trigger some caution.
Si - dear me I’m getting slow in my old age! And there’s me being polite ha ha thanks for the heads up……’I can see clearly now the rain has gone’
Si - sorry about that but will be lost reading your posts without a broad Devon accent ha ha
‘The lady’s not for turning’ but AimMistress has just done a cracking about turn! Never seen that one coming to be fair
Thanks LSE my thoughts exactly.. another Bar Room Bore 🤢
The Imho's are out in force this evening ,bless em. All that account swapping must get confusing, imho. :)
Sounds like they are trying to justify a trade. Can't be very sure of themselves. imho
Re, thread. Fwiw my Pringle is justs fine LSE. Thanks for asking. Tbh, I thought I detected a whiff of something earlier. Kind of a wet dog smell. Might be nothing, but worth noting, I thought. Sorry if too cryptic Crouchers? ;)
BT, about as much a West Country lad as youself. Only by fact of residency.
Onlymee, I've been told before, NO CAPES!
How many times did he say the FSS assembly would be a "Big Challenge".... he's not wrong there. He also mentions that they keep mentioning the past....
OK, we get it, you sold and now you want to buy in again cheaper.
Worth remembering, you can have loans and debts. If company lived off these, no company will ever go bust nor would any company would delist, there would be a surge to list companies. A company has to turn profit to be able to pay them down imho the delay in trading update in comparison to a year ago. You would think, u want to get bad news out of the way but nothing? To recruit, to have maritime vans are all start up cost the company has to swallow up imho
Revenue can grow by winning contracts, but generally, the cost of starting a contract is higher due to setup cost before it starts churning profit later in the contract. So assume revenue is £200m, debt is around £115m ? Currently loss making which is likely add to more debt, eating up the funds from the finance that many are awaiting. There was mention by arun about capital stack to shore up the balance sheet. So a trading update is usually out by now, you question why its held back ? Soo much uncertainty makes this share a trading one imho we've seen how hzm looked soo promising at £1.80 to drop as low as 0.40 within a year and half. As always good luck. Imho
Stokey yes agree there
Hmm, about time we forgot about this lot imho
AimMaster2018 ref 18.23 post I would refer you to the Fundin message thread from this morning. Whether you go with my calculations or Kaeren's calculations there is no need for an equity raise for the forseeable future that I can see. Excluding normal business revenue HARL is likely to receive loans and investment in excess of £300m. None of this will require an equity raise.
LOL. The company making it is the company with one of their yards just across the water from the Arnish yard, on Goat Island. Have looked at them before. Got to love how this is playing out. Scilly is going to have more vessels than people soon. :)
https://www.coastalworkboats.co.uk/
Thanks for explaining your strategy for us long term holders. Why would an equity raise be needed? Finance is due soon. Why haven’t Institutional investors bought in here? I’m guessing maybe finance to remove risk and then becoming a viable business case with the predicted £200m+ revenues.