Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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This is long overdue.
I have been patiently in this stock for several years now. I bought some cheaply then a lot more as the price rose a couple of years back, on the basis that I was sold on the idea that the gas caverns were a fantastic idea and the PR surrounding it was so positive, and the timelines not too distant. Little did I know about the marine license. Something I had in common with the CEO.
However, a small setback but still a good idea. As long as the company had enough cash to last a few months when the ML would be granted.
Then the share price crashed.
Then came a share dilution. Then another. Then another.
Then out of the blue came a shipyard purchase. Are you kidding? NO, this is a gas storage company, WHY? Then the PR came out - this facility would help fabrication of equipment for the gas facility. A shipyard? With the biggest dry docks in the Universe. Lets fabricate some steel for a little underground gas cavern company. Really...?
Then another purchase, Appledore. Why in gods name when you have the largest facility this side of Korea, do you need another one? Oh well probably a strong team behind it, and an experienced workforce to boot. Oh, no, is that not the case? Oh, just a manager and a workforce so long gone they have bough houses near their new work. Is there a plan here? Oh, a new yard door. Great now the contracts will come rolling in. You couldn't write this.
Next an annual report and a bumper bonus for the team (I actually couldn't find the exact figure- can someone help?). Though I did note that a Mr Wood owned a company that leased some ship assets to Infrastrata.
What had anyone done to deserve a bonus at this stage? Barely any turnover, no profits, just purchasing bankrupt worthless businesses.
Then some more acquisitions in Scotland. Seems like The CEO like many of us is stuck at home and suddenly wants to buy something, anything, it's Sunday evening. Lockdown retail therapy. Is there anything for sale in Wales?
MR WOOD. WHAT IS GOING ON HERE?? I have no idea why I'm still invested, blind hope. I've invested a huge sum and I am only holding on because it feels like a low market cap if you have genuine reasons for these purchases, and you have contracts about to be signed?
Well do ya? Because from where I'm standing it sure doesn't feel that way. Are you living in any sort of commercially realistic space, are you on a wing and a prayer, or are you a bare faced liar?
Do you have a strategy (because as a shareholder I would like to know what it is?), or do you just think that you can emotionally blackmail the government to commit to building ships in hopeless UK yards which will all overrun massively in time and cost. Do you even have the expertise to build the ships if you do get the work? You barely have the workforce?
And next time you change the company direction. COMMUNICATION FIRST.
Two more weeks and then I'm out . Bitcoin is calling. My fault should have done more resea
You know things are close when the tree huggers (disguised as LTH) start to come out of the wood works
WinH, good summary, you forgot the FSRU - what ever happened to that?
I live in hope that one of JW’s horses comes in before the next cash call.
jfk9, I found this in the November 2020 investor presentation in the key points summary slide, "Having considered government policy and future growth trajectory, the FSRU project has fallen out of our top five areas which are wind and floating wind, hydrogen, tidal, battery and energy infrastructure." TBH, I would rather they focus on getting the ML and landing a few contracts that were included in their weighted pipeline than get sidetracked with the FSRU project.
I don't think many tree huggers have 150,000+ shares tailor028. Loosegoose, I would just like the company to focus on one thing, at least then I believe they have a strategy. At the moment its scattergun, and hoping that something works. Where did JW get all this experience and contacts in so many sectors. I will happily be proved wrong, but certain things don't add up. I'm hoping the bonuses in the annual report were options rather than cash otherwise why is a CEO taking excessive money from a company struggling with cash flow?
WimH In relation to your 13.07 post leaving aside the issue of the bonuses for the time being. I do not follow the argument that INFA should concentrate on a single thing. If a company only concentrates on one thing until that thing becomes revenue generating the company needs resourcing. It follows if JW did not purchase Harland and Wolff the only way to progress the company would have been even more placings than has been the case just to cover running costs. You may not agree with the strategy that the BoD have adopted but it is generating revenues. At the end of April when the interim results come out we will see how much revenue has been generated between 1/08/2020 and 31/01/2021 this would give us the first chance to evaluate the strategy without the significant overhang of Covid19.
WimH,
Your original post appears to have garnered much support. I have been posting the same since the original H&W acquisition, to great derision and abuse. As I stated at the time of the Belfast purchase, if I am building a house, I don't buy Travis Perkins to save a few quid on bricks. I note that the original justification for the acquisition, to save on fabrication costs for IslandMagee, has been dropped for the utter rowlocks that it clearly was.
As far as I can determine, the recent bonuses were in cash. Your term "emotional blackmail" is pretty close to the mark, in my view - buy up defunct assets in economically deprived areas, tell the politicians what they want to hear, because politicians are thick and believe what they want to believe, then use the acquisitions to justify fund raises in order to trouser a shed-load of cash. This is why I raised on here the name DeLorean some time ago. Again as you state, where is the knowledge and experience to win and deliver these massive new-build contracts that so many on this board believe are imminent?
I still maintain that IslandMagee will be the life or death of INFA; if it is to be death, then the acquisitions have merely delayed the process and enabled some additional cunning troughing.
Like you, I invested some time ago, on the basis of the potential of the gas storage caverns, as did all the other long-term shareholders here. No-one at that time invested in the expectation that INFA would be promising to build ships...
Hi All - No point is bashing INFA we are all here to make a buck & we know the risks.I am at present confident that there will be a turnaround in the SP just a matter of being patient.Please note I am still showing 'Strong Buy'.
stokey12,
Unlike many on this board, I refrain from hurling personal insults, but your continual use of the term "revenue generating" is troubling - I take it you do understand the concept of profit and how it is derived?
BlairPeach In relation to your 15.43 post I am at a loss to understand your confusion in order for a company to generate a profit it has to sell a product or provide a service. From the money this produces you take away the costs of either making the goods or providing the service. This will give you the operational profit. In the accounts for the six months to January 2020 there is a line that says revenues which has a figure in it. This shows that in that period INFA had a revenue. When I use the term revenue generating this is what I am referring to the money received for providing a service. What definition of revenue generating are using to say that INFA is not revenue generating? At the end of April we will get the interim results for the six months to January 2021 if my belief is correct this will show revenues which are higher than both the six months to January 2020 and the year ending 31 July 2020. I would think that would amount to revenue generating.
@WimH. Correct me if I am wrong, but hasn't JW done much of what he is doing currently for INFA before in Australia? I believe he's gotten proven experience of extracting maximum value from multiple, disparate, revenue streams. If that is the case, why worry about his scatter gun approach?
In relation to my 16.02 for the avoidance of doubt nothing in that post is to be taken to mean that I think that INFA is currently profit generating. It only deals with the issue raised by BlairPeach as to whether it is revenue generating. The two are of course not the same although you cannot be profit generating without first being revenue generating. The unknown is whether INFA would have been profit generating in the last financial year if we did not have the Covid Pandemic.
Revenue =/= profit.
It seems there are a number on this board who do not understand the distinction, God help them.
BlairPeach Inrrelation to your 17.08 post I would draw your attention to this article which seems to support what I said in my 16.02 and 16.45 post https://www.investopedia.com/ask/answers/122214/what-difference-between-revenue-and-profit.asp. Can you provide an authority for your proposition in your 17.08 post which seems to equate profit and revenue.
stokey12,
This is becoming tedious, but the symbol =/= is universally acknowledged to mean "does not equal".
Is English not your first language, by any chance? If not, your muddled posting is completely understandable. Otherwise...
I thought you 'refrained from hurling insults'.
BlairPeach In relation to your 17.25 post any confusion is with all due respect by you questioning my use of the term revenue generating without explaining why you think INFA is not revenue generating. In fact in your 15.43 post you state 'Unlike many on this board, I refrain from hurling personal insults, but your continual use of the term "revenue generating" is troubling - I take it you do understand the concept of profit and how it is derived?' There you yourself seem to conflate profit generation which I was not talking about with revenue generation which I was.