Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Chris,thanks to links excellent news
Chrisatrdg Thanks for your 12.18 post my only concern is with ITTs that are mentioned. That would mean that the contracts on any successful tenders would not be before Q3/Q4 so this would give work for next year. I note that we have the compensation of work coming into Appledore soon.
Just posted on Linkedin is response to JW's post:
'Good to have the update but clearly that RNS for 'that contract' not yet likely due.However starting to see ITT's (Invitations To Tender) is a good start & shows that H&W have succeeded in its pre-qualifications.Onwards & upwards.'
JW post on Linkedin today link below & full details of post:
https://www.linkedin.com/feed/update/urn:li:activity:6763053397584158720/
55m • 55 minutes ago
'With the arrival of our new robotic panel line in Belfast and the start of the process to reinstall the refurbished dock gates in Appledore the team have made amazing progress despite being in a COVID environment in re establishing Harland & Wolff as a competitive force within our five Markets. Whilst everything is taking longer we are excited by the prospect of eventually getting back to normal operations as the vaccine is rolled out.
We have seen a lot of work that has been planned and tendered put on hold, the main problem is not that the owners don't want to do the work but more that the technical specialists from around the world that are required can't travel. In essential cases in order to keep vessels in service we have seen our teams adapt using remote video conference to operate as the local hands for the OME's overseas.
Ship Repair work in Belfast is strong with a solid demand through the year, we are starting to see the release of ITT's for substantial conversion projects. We are well placed on several substantial fabrication projects, the key focus for the team is converting tenders into binding contracts. Appledore is getting ready for vessels that should commence in the coming weeks in line with the current upgrades works completing.'
The June and November notes were 1 month before both placings
The July note was to tell you what they claimed the money was for.
The other one was to explain Appledore purchase.
Lighten up Stokey the wink was there for a reason...
spudtheplumber In relation to your 12.05 on checking there have been four brokers note and two fundraises so your statement would appear to be inaccurate. The 10 June note was on initiation the July note was subsequent to the placing. I cannot see any note in relation to the last placing.
You only get one before a raise ;0)
I have noticed that to date we have not had a brokers note from Cenkos. Have I been looking in the wrong place.
Well, Gresham House did which perturbed me a bit. They are long term players.
And the fact the II's have not reduced their holdings should give some confidence for the long term.
Given no information to the contrary, the outlook for the company have not changed. Whilst It is evident that covid and politics have dented the time frame, for a more positive outlook, I remain as positive as ever the company is well positioned to make substantial profits. The much talked about remuneration is somewhat puzzling but should things develop as we all hope, it might be better that the board did not ingratiate themselves with potloads of share options.
I must express some confusion here. There are some posters here who appear to have always been critical of the purchase of the shipyards. As I understand it they are of the view that the BoD should have remained focussed on the Islandmagee Project. I understand that point of view. However, I do not agree with it. The purchase of H&W has the stated advantage of taking some of the capital costs out of the project.
More importantly there is the question of how the project would be funded. If the BoD had not done the share consolidation then any equity fundraise would have decimated the value of the shares at the price the shares were trading at. Also it has to be noted that a significant part of the delay has been out of the control of the BoD. While it may be possible to bring in foreign investment the provisions of the National Security and Investment Bill currently going through Parliament makes that problematical and might make problems. Assistance from the government would only be forthcoming if there is a financially viable company with a clear business plan. If INFA did not have the two shipyards which would be generating revenue I doubt that the government would be willing to give assistance.
Phijeer
‘ Equity issues are necessary vehicle to funding early stage development, if you don'tike it stop investing in AIM stocks.’
A little cheeky, there are many who have been here a long time and seen their investments diluted on numerous occasions, I don’t think they need a lecture on investing on aim.
FFS stop talking ****.
You are invested in an AIM infrastructure business, they have acquired for minimal money shipyards with tangible futures, and brought themselves to cash breakeven within a year of operation and secured interest in build contracts. Don't be so god damn naive to think anyone could do any better, or to that point that you know how better to run the business.
Equity issues are necessary vehicle to funding early stage development, if you don'tike it stop investing in AIM stocks.
Some people do talk such ****.
Whatamess. Something is amiss.........the BODs regard for "shareholder value". In the annual report, our CEO mentions this five times. This is the first and most hollow:
During 2020 we have managed to complete three out of our five objectives and strive to get the others completed as soon as possible. We believe that we are starting to create real and demonstratable shareholder value and we will continue to build on the foundations that we have put in place through 2021 and beyond.
If those words are to be believed I have serious concerns for the future, pandemic withstanding.
The four other mentions of shareholder value are losing value in my opinion. We are at a tipping point. If contracts do not materialise soon........
Blair,
I come from a place of promise, optimism and belief. I fully support the management team. You are the polar opposite.
And that is fine.
Neither of us will convince each other otherwise.
Go well.
Hi stokey12 - I would not have thought we would get much subcontracting from the recently announced contract news but it does demonstrate that Navantia is a major player & yes there would be potential work for H&W for a ship build JV.
Windfarm development vessels contract.
Marine licence
Islandmagee funded and ready to go
Possible MOD news .
I expect a lot of good news coming our way and i’m saying anytime between now and 20 weeks.
We have 200 staff working at H&W Belfast and we are recruiting 350 new workers for Appledore.
I’d like to see some positivity instead of doom and gloom all the time.
Come on guys get behind the company!
BTB
droderick,
What risks is JW running? The only one I see is the risk of putting his back out as he makes off with his loot.
His share-holding goes to zero? I would say that he has more than covered that eventuality.
Reputational risk? At his age, I hardly think that matters. Besides, given his past behaviour, I would hardly describe his reputation as stellar anyway.
When he became CEO of Infrastrata, his one job was to deliver Islandmagee. From the level of hubris of 24+ months ago, one would have been forgiven for taking it as a given that he had the marine licence under control; after all, it wasn't as if there were dozens of other projects to oversee...I consider that clear level of oversight a staggering incompetence.
From a personal perspective, it was a clever strategy to broaden the company's scope, making it so much easier to raise additional funds and further debt, much of which can then be diverted into directors' emoluments.
I maintain that H&W (Belfast or Appledore) will NEVER be profitable without huge amounts of public support (which I accept may or may not be forthcoming), leading me to question the reason for the acquisitions in the first place.
It is ironic (perhaps disingenuous) that JW has long expressed the desire to move INFA out of the AIM and into a more robust exchange, given the level of scrutiny that such a move would generate.
I am very surprised by the reaction to the annual report and the exec team remuneration. A few comments:
1. The total salary is a culmination of previous years' arrears that have now been paid out with the receipt of the EU grant. There was c£100k thereabouts which is for 2018, 2019 and 2020. So that's about 30k for each year. That's hardly unreasonable.
2. The bonus is for a period of 2 and a half years including the whole of 2021. What's wrong with that? The team have pulled the company out of annihilation into a revenue generating entity.
3. It's a pity that memory is so short-lived. Till Nov 2019, revenues were ZERO for God knows how long. Now we are averaging 1.50MM every month with a phenomenal opportunity to break into tens of millions with just a couple of contracts coming through. If anyone thinks these contracts drop like quail and manna from heaven, then that's a very sad reflection of one's perception of reality. This has been hard earned involving thousands of manhours (and woman hours) of effort, grit and perseverance, all with the knowledge that if things don't go right, the exec team will be on the hook. There is risk on both sides. Let's recognise that.
4. I am amused by this constant need for information. It's like we need to be constantly fed information to have interest. Do we really think that multi million pound contracts and licences come to fruition in days? Even if the team are pushing hard, we are dealing with multinationals and governments who take their own sweet time and, frankly, don't give a damn about shareholder sentiment.
5. Do we need JW to be on social media or put his head down and push on with the business? There was a two and a half hour marathon session in November. The last time I checked, that was two and a half months ago. Since then, we have had a fund raise, the annual report and 2 meetings. I honestly think we should cut some slack and let him get on with his job. History has shown that when JW goes a bit silent, something on the back burner is coming to fruition.
Patience from us and perseverance from the team. I think that is a good combination.
Chrisatrdg I wonder how much scope there will be for subcontracting on this?
Spain’s Navantia Lands $958M US Navy Contract to Help Maintain Arleigh Burke-Class Destroyer Ships
https://www.govconwire.com/2021/02/spains-navantia-lands-958m-us-navy-contract-to-help-maintain-arleigh-burke-class-destroyer-ships/
whatamess, we all have our strategies and who is to say what is wrong, I must admit JW's silence on social media is not a good sign IMHO
There needs to be something substantial released way way before 20 weeks IMHO
Super confident we will see a massive move up with the share price in the next 20 weeks.
So much news to come and once we get the momentum started there will be no stopping us.
Patience will be rewarded here.
GLA
BTB