Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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While we wait for bigger contracts to start, at least it seems there is a steady flow of smaller contracts to keep the yard ticking over whilst building credibility in the market. OCEANEX CONNAIGRA will be the new arrival any day now when the Stena Scotia departs. https://www.niferry.co.uk/canadian-visitor-returns-to-harland-wolff-ahead-of-further-stena-work/
Great post Loosegoose - OCEANEX CONNAIGRA is currently off the North Coast of Ireland due into Belfast this morning.All to play for now.
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Loosegoose In relation to your 06.51 post it ceertainly looks like it will be a busy month in Belfast. At this rate there is a serious danger that INFA might make a maiden profit.
Stokey12, we can surely hope for profit but I think you might be a little optimistic. For me the first thing is cash break even. Depreciation is not really relevant. I hope for cash break even and then anything after that is gravy. First big milestone for me. I think JW once said 25m revenue would result in the cash break even point considering fixed and variable cash outflows. Given weighted pipeline, new news, move from smaller to medium contracts this is very doable. Also a steady revenue stream builds credibility in the market and will open doors to debt financing.
We will surely make maiden profits at some point. May not be in the next update, but it's coming down the line.
Let's not forget that STENA SUPERFAST VII and STENA SUPERFAST VIII are also to dry dock at Harland & Wolff before the end of September. I wonder if we can also get a marine license by the end of September.
Regarding ML, JW said in the next few weeks so it is very possible- then FID before Christmas to get our £15 mill and project finance to build and manage them.
Could be a very nice Christmas this year, Just need the travel restrictions to be lifted and it will be an amazing Christmas.
It would not surprise me if the lead time for ML is reduced again, now we have 2 fabrication halls and able to keep a few hundred more employed...
Sorry I meant lead time for the whole IM project.