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At the point INFA is a boom or bust. The former for me. I understand the frustration for long term holders of the jam tomorrow approach.
Local protest group ain't no swampy.
Boom or bust, we will know soon enough.
Agreed, didn't JW say tenders take around 12 to 18 months to get pen onto paper signed? Surely that window is now open
An interesting point Stokey. In essence I came here for islandmagee but I am staying for the 5 sectors of h&w. I'm not putting a timeframe on the gas storage project having experienced much delay already. If the ml gets declined he mentioned there is plan b c d and e. In my opinion it will be a cherry on top of a thriving company when it eventually happens. One thing is certain the sp will take a big hit if it's bad news, even though I don't think any of it is priced in currently! Starting to get very excited for the publication of the review on Tuesday.... another name drop will do wonders for my confidence and hopefully the markets too leading to a decent so rise
In Q2 we have the possible Triumph Subsea LOI due to be firmed up into a contract the value being between £350 - £700m depending on whether the contract is for one or two vessels. In addition hopefully we will get news of tender wins in relation to tenders from H1 2020. If there are any tender wins then the financial year end order book would look very healthy.
If the Marine License is granted then there is a suggestion that the local protest group might launch a judicial review of the decision. I am not sure how backed up the Northern Ireland High Court is but if it is anything like the English High Court such a move would tie up the process for upto two years for an initial hearing and then even longer if there are appeals. In such a scenario the question has to be asked at what stage does INFA say the ROI means that the project is no longer viable.
Should be an interesting close to the quarter, Hopefully news after the 22nd, the wife's Birthday :-) or it could be costly.
Great post, Chris .. is there not a shipyard at Ballybaloney ??!!!!
Boris pledged apprenticeships a new history of shipbuilding at Appledore ,big clue there
Having done a quick check on Google if INFA gets the contract for either the Type 26 or the Type 31 Frigates that would be a contract worth in excess of £1Bn. It would also probably be a bit of a gamble so it may be that INFA will get the FSS contract which is also valued at around £1Bn. It would be interesting to see if INFA get any of these as they would be set for a few years.
Gla all next week
Great post Chrisa. I'm hopeful for some substantive news in the next fortnight or so.
As for shipyards in NI Stokey, H & W are the only one.
Chrisatrdg In relation to your 11.08 post apart from H & W are there any other shipyards in Northern Ireland?
The Telegraph
£80bn boost for military to arm it with new tanks, warships and ‘kamikaze drones’
Lucy Fisher, Ben Riley-Smith, Danielle Sheridan 12 hrs ago
Included in article is para below:
Boost to fleet and shipyards
'The Prime Minister has announced that the UK will acquire eight Type-26 frigates, which are sophisticated anti-submarine warships, as well as five Type-31 frigates, cheaper general purpose warships.
His plan is to restore Britain’s position as “the foremost naval power in Europe”, he said last autumn, as he also confirmed plans for new support ships to supply food and ammunition to the aircraft carriers, and new multi-role research vessels.
Combined, the programmes are set to support up to 10,000 jobs and are seen in Whitehall as a boost to the Union as shipyards in Scotland and Northern Ireland are set to benefit.'
Lets hope we get confirmation of a potential contract award for H&W in Northern Ireland soon.
Maybe even see a largish claim from the EU if it were not granted, as was a project of common interest. AIMHO
North Africa would likely be the gas supplier to europe especially if the Russian Nord2 gas pipe is not allowed .The gas caverns supply logically would come from West Africa /USA.
For me the delays with the marine licence has been an intentional stalling until such time as another company has had reassurance that it's process would complete .the completion of that process is the end ofQ1 coincidentally when the ml decision is intended to be made.Its my view that Graham lyons was part of this interconnection between the two companies.All speculation but let's see what unfolds.Let's be realistic those gas caverns are shovel ready so need for the British and Northern Ireland governments to allow this delay as it is in the interests of both governments to complete the island magee project.A safe and regular supply of gas where the government can't be held to ransome by middle east suppliers is essential going forward.
BlairPeach In relation to your 19.30 post of yesterday with all due respect information in the public domain does not support the contention in your final sentence. The only financial information in the public domain are the accounts for the financial year ending 31 July 2020 which show a £10m loss. Those accounts would reflect the impact of the Coronavirus on both INFA and its customers. There is unverified information that would suggest that if we did not have the Coronavirus pandemic the financial year to 31 July 2020 would have ended in a profit.
The interim results for the six months to 31 January 2021 are due by the end of the next month. Those results will show a marked improvement in revenues on the six months to 31 January 2020. Further the results for the full year ending July 2021 which are due by 31 January 2022 are from all information available likely to also show a marked improvement in revenues for the year. The results helped by the December 2020/January 2021 fundraise which would have covered some of the capital expenditures which have been made recently. In addition there were some favourable changes in the 2021 Budget that would aid cashflow. Taking all these facts into consideration and excluding the impact of the Integrated Review I can see INFA surviving regardless of what the decision is on the Marine License. Perhaps you can share with us why you feel that the loss of the Marine License would mean INFA is dead.
MaryBr190,
What is it that leads you to state that the granting of the marine licence is unlikely?
If you are correct, I would surmise that INFA is dead.
whatamess In relation to your16.59 post I am inclined to the view that the impact on the share price of the ML not being granted is dependent on what defence or other contracts appear between now or then. We will have the integrated review statement next week followed by the details on the implementation of the review probably the following Monday. If those indicate significant contracts going to H&W then this could offset the refusal of the ML.
Good luck then.
It seems the ML is unlikely now.
Expecting a lot of spin.
That usually means a buy for me :)
MaryBr190, not doubling up, but I had added 35k earlier this week at 38p
Anyone else doubling up at these levels in a leap of faith?
On Wednesday next week the following Westminster Hall debate will be held.
16.50 - That this House has considered the disposal of unexploded ordnance for offshore windfarm construction - John Nicolson, Sir Roger Gale, Stephen Hammond and Sarah Olney.
It's almost like the original reason for the H&W purchase, to reduce Capex on IM has been glossed over and this was his plan all along. He certainly likes to give that impression even if that's not the case. IMO
It's as if he was told that the ML is a no-goer and said, okay, fair enough, but if we change dirrection and buy up all these ship yards could you chuck a few contracts our way. But don't let DAERA release their outcome until the contracts are in the bag. And TBH, boats are more my thing anyway. :)
Don't get me wrong, I would like to see all of these yards do very well, "going forward".
But something doesn't sit right somehow.
Couple of weeks and I guess we shall find out.
GLA, Si. :)
He certainly likes to "move forward", doesn't he?!
Let's hope he can "move forward" the share price...