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Dawski. From my post dated 10th Jan, the link below details Stena line scheduled maintenance (at H&W), 4 ships commencing 14th Jan. Your hat is safe!
https://www.niferry.co.uk/stena-estrid-introduction-to-allow-stena-superfast-x-to-return-to-belfast/
Sorry, I don't understand Twitter.
Is this a good thing or a bad thing for LTHs?
Link to more about the ship:
https://www.stenaline.com/ships/stena-superfast-VII
https://twitter.com/spudtheplumber/status/1218615144810450945?s=19
Looks like you are correct Dawski
.......appears to be docked in the smaller of of our two facilities.I just wish that there was an easy way of assessing what ships were coming,expected,berthed and going ! At least this signifies that we have work to cover the overheads and hopefully there are more lined up to maintain a continuous flow. More will revealed on 31st January no doubt ..Must be lined up for some positive news flow soon and certainly in February when the Consultation Period finally expires etc !If I am wrong about Stena Superfast Vii ..let me know ! Another chunk out of my hat !
Still string on the side lines here as together to buy in or not imho
Mr Triumph thank you very much for that. I am not at all sure about the H &W working capital costs , especially now with the much augmented work force. But I would imagine that the costs related to the three raises came to at least £700K so that would render your calculations a bit optimistic perhaps. In any event it would be easy for the BOD to reveal the current state of play! Go well.
Setanta,
Cash, well, I estimate the following, open for corrections;
Incomings
Raised £700K 1 August 2019 less costs (Say £100K in hand at that point)
Raised 210K 6 December less costs
Raised £6.0M 11 November less costs
Outgoings
Paid £3.30M 5 December (H & W Acquisition)
Paid £600K running costs December (£500K plus vat) so can reclaim the vat element back?
Then we have ongoing additional working capital for H & W to take into account?
Therefore at the minute let’s assume other outgoings since the raise in August were £75K per month say £375K (for Gas Storage element) the cash left should be circa 1.0M - 1.5M in the bank. Certainly not enough to complete the H & W purchase in April or pay Costain the o/s loan? But we don’t know what the income generated by H & W will be over the coming months?
Therefore we will need the EU funds, 1.6M before April and the working capital arrangements in place at H & W sooner rather than later.
Anyone care to throw in their calcs?
Mr T
Ditto Setanta1 :-(
Chrisardg that I only held 2250000 shares in INFA and was showing a loss on them of only £6K! Great resume Mr T but I would also like to know the current cash situation.
Scored,
Are you referring to the Gas Storage finance offer? To move it onto construction level, ie the investor pays Infa circa £16M, our costs to date, and we, Infa retain a small % of the project ie 20% going forward?
The reason the sp is currently falling or stuck is because at the minute there are far too many unanswered questions and no concrete solutions.
a) Marine Licence
b) Finance for the Gas Storage project
c) What % will Infa retain
d) What cash will Infa receive for the project
e) Where are the EU funds
f) Further H & W Contracts
g) Have Infa secured loans to fund H & W
h) Where are we in respect of the FRSU projects
i) Funding available in respect of UK infrastructure projects following the recent UK elections
As I say too many things up in the air currently. One good thing is that the Chairman issue has been resolved, I expect therefore that more light may be shed on all of the above either pre the upcoming AGM or certainly February/March time.
Will get shot down here should of taken the loan if there ever was one ! As you all know im new here but the shareprice is in free fall and seems no stopping it . 0.28 plus to buy well i started of paying loads more than that . I just hope we get rewarded .
I know JW said he was not interested in short term SP movements, but did anyone ask him what he calls short term?
I would have my wager on "Harland and Wolfe" already got 100 years + branding!
I have taken the plunge again at these low prices but based on my past Buys so far the SP is bound to drop again however now have an extra 50,000 shares at 0.289 cost £144.50 now have in total 2,250,000 at an average of 0.60. With regards where we are I cannot believe that JW buying H&W was of someone who did not know what he was doing so I still have the faith but a little frustrated at being at a loss.
Ah sorry I misread that post; I see that the £2M includes monies outstanding for the H & W purchase. We did raise £6M for that though, but, I suspect some has gone into running costs.
Mr T
Hi Setanta,
Just to clarify you state;
Clearly JW is depending on some form of government grants to keep thins going. Plus the EU grant of course. I don't know how much cash INFA has in hand but we need well over £2M to pay Costain and the remainder of the H&W money in the next three months.
However RNS date 23 Dec 2019 states
With the EU funds not being received before 31 December 2019, the Board has agreed with Costain Plc to extend the repayment date of the Costain Loan Facility ("Costain Loan"), originally announced on 04 November 2016 and due on 31 December 2019, with an accrued value of £810,669 as at 31 December 2019, to 31 December 2020 or on receipt of the EU grant reclaim, whichever is earlier.
Which is correct?
Mr T
interesting posts here this morning. One has the impression that the contracts that JW has been talking about are the same Steena work that the previous owners of H&W had before they went bust. They, apparently, couldn't make the work profitable.
Interesting question about whether JW is going to indicate the value of the "new" contracts.!
Clearly JW is depending on some form of government grants to keep thins going. Plus the EU grant of course. I don't know how much cash INFA has in hand but we need well over £2M to pay Costain and the remainder of the H&W money in the next three months.
Also clearly PI's are no longer investing here. That side of the market has been at rock bottom for some time now. I dread to think what might happen if one of the II's who invested in the placing decided to pull the plug.
Could be " Gone with the Wind Plc " Only joking as the gale is indeed blowing this week but the sails are holding ..just !
Or something more generic and suitable for our project ..like " Hydrogas Plc or SecureGas Plc" those names appear to have been taken ...whilst we certainly can improve on Infrastrata Plc hopefully the Name Change will not happen in the short term as it must be quite expensive to achieve and disruptive,changing all the stationery web site ..and now the Invoices !!
BUT it is good that the Board are thinking ahead and being proactive on this ..we need a new logo too !!
Do you really think that there was funding on the table?
Didn't stop it going bust a few short months later.
LAST YEARS H&W news & for this year?
'Stena Maintenance Schedule Complete
Tuesday 19 March 2019
Harland and Wolff's Belfast Dock was busy during Quarter 1 2019, starting a sequence of dockings with the arrival of the Stena Lagan on New Year's Eve. Thereafter, in a carefully executed programme to ensure the minimum distruption to sailing schedules and passengers, came the Stena Mersey, Superfast X, Superfast VII and finally the Superfast VIII (see image below).'
Link:
http://www.harland-wolff.com/News/Stena-fleet-maintenance-complete.aspx
Scored
‘ When will it stop everytime i buy im underwater . Hope the shipyard has orders otherwise the wage bill will be a pain to service’. If JW thinks issuing shares will be the answer to subsidising H&W then yesterday’s .01 options will never be exercised. If there are not orders in the pipeline or a debt facility being organised then we are fecked
I remember Dawski posting regarding unponderables, Maybe we are on the cusp of one, but no pondering it is going one way at the minute. I am sure 100% everything will turn for the better, just frustration setting in and dissapointed regarding IM funding- because at the end of the day I would have taken the equity partners deal then done a deal with the FSRU with the gov. The emphasis now (and then) should be on clossing deals not waiting for possibilities that may not arrive.
without releasing an RNS doubt it really, but would not surprise me. I did find JW's listing of potential value of contracts quite odd! unless he is going to release contracts without the monetary value.....