Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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As a guide to how important developing the defence side of the business is for H & W have a look at the Bio of the Director of Business Development for Defence. https://www.harland-wolff.com/meet-the-team/#marklawther
thisTimeNextYeer In relation to your 15.22 post I read the article as hinting that work will start flowing into the yard from Q4. That would be impressive as the yard has been non operational for a year.
In a news article from Business Live JW states 'Over the coming weeks we will be welcoming some old faces back into the yard and introducing new employees'.
There's nothing new in this report re the 350 new jobs but what was interesting is the timescale of 'coming weeks' for the new starts. They're not hanging about at Appledore.
The full article is at https://www.business-live.co.uk/ports-logistics/hundreds-apply-appledore-shipyard-jobs-18931493
In my 18.13 post the first line should read 'With shares in issue of only 65m'
With an issued share capital of only 65m in order to pay a dividend of 1p a share you would need distributable reserves of £650,000. Based on the figures in the Cenkos Research that would be reached at the latest by May 2022. It would therefore be interesting to find out what the dividend policy INFA will adopt as if they were to go for distributing a third of profits as dividends we are likely to have some very rich shareholders.
Hi stokey12 - Great post & pictures of vessels & of H&W dock ahead of any tweets from JW or H&W.
Well done.
It is certainly busy at H&W & all appears to be in working order at H&W so bodes well for the future.
I am however not sure how quickly the ML will be resolved I suspect next quarter not this one.
It would seem from this article https://www.niferry.co.uk/stena-estrid-makes-belfast-debut-in-place-of-stena-superfast-viii/ that thedry dock at H + W is fully occupied into October. Interestingly it would seem that the total time Superfast VII and Superfast VIII will be in the yard for maintenance may be around five weeks. The dry dock is certainly being kept busy.
Cenkos in their first report indicated that by I think it was May 2022 Infrastrata would have 17m net cash; that was before the purchase of Appledore so I think that figure may be higher now.
Well spotted,Chris ... do they drive on the right in Devon ?!!!
Thank you very much Speedy_Gonzalez for your reply. Your detailed answer explains the current position very well.
LSE03. An answer to your previous question as stated by our CEO in the Interim results RNS April 30th 2020:
There is a pronounced increase in the development of hydrogen as an alternative fuel source to natural gas. Research centres and energy companies are making significant inroads into developing technologies to produce commercially viable volumes of hydrogen using renewable energy (green hydrogen). The Company believes that although natural gas will remain the baseload feedstock for the world's energy requirements, there will inevitably be a transition away from natural gas to clean burning hydrogen in the coming decades.
One of the key attributes of the Islandmagee gas storage project is its flexibility to store both natural gas and hydrogen. Therefore, as the use of hydrogen as a fuel becomes more mainstream, either as a blend with natural gas or as pure hydrogen, the storage of hydrogen will become paramount to maintain security of its supply. Given the long life of the salt caverns (in excess of 40 years), the Islandmagee gas storage is effectively future-proofed and capable of becoming the go-to transition energy asset from natural gas to hydrogen in due course.
Chrisatrdg. Indeed, it seems the jobs fair had a great turnout.........500+ applicants mentioned in H&W tweet and seemingly confirmed by this link:
https://www.devonlive.com/news/devon-news/cars-queue-appledore-shipyard-opens-4506527
Hopefully not too long before Belfast offers similar opportunities as Islandmagee construction begins......??
Does IM have the potential to be a hydrogen storage facility (sorry I think I have read it has but I'm not sure)? If so, the House of Lords debate may provide some insights on plans/capabilities for Northern Ireland
https://renews.biz/62883/house-of-lords-to-debate-uk-hydrogen-strategy/
sea-miles In relation to your 14.12 post HMG does not need to go down the State Aid route just bung H&W a few medium size contracts. That way it cannot be said to be state aid.
Not wishing to bring politics onto this board but the House of Lords are very unlikely to pass the internal - market bill which will give rise to a constitutional crisis.The House of Lords cannot finally vote against Bills that relate to policies in the Government of the days manifesto & the irony that quite the reverse was in it in relation to the proposed market bill. Boris has gone to far as he once did last year & was found in the Supreme Court to have acted illegally when proroguing Parliament for the wrong reasons i.e. to try & gain political advantage.There may be yet another Government U Turn.Deja Vu.
Sea-Miles, in relation to your last post- why do you think they purchased Appledore? there is always a backdoor and the way the Euro is escalating they will be in trouble very soon IMHO.
If I were a gambling man I would bet that a government contract of circa £50m will land before year end (Calendar).
imho
Perhaps, but with due regard to any constraints within the Withdrawal Agreement. The section on the Northern Ireland Protocol that covers State Aid in this link looks relevant:
https://www.instituteforgovernment.org.uk/explainers/internal-market-bill
The latest controversial Internal Market Bill could well be relevant in this context if it's passing could allow govt to provide state aid to H&W that might otherwise not be allowed were we to remain "aligned" with the EU....no politics intended.
No buying, JW is busy sending emails to BoJO " ok Boris, recruitment has started like I said, now time to do your part of the bargain and show me the contracts"
LOL
Let’s hope we aren’t buying anything :-)
It is so quiet that it could well be a bank holiday
Your danawinner post was,sadly, all too accurate. I am one of the shareholders who voted for the requisitioners. When I cast my vote I was unaware of AP's rather chequered business career.
The same bluster and "hard working " rhetoric is now being employed to sucker the PRIM shareholders. And it will probably work again!
But remember he did take the credit for putting JW in the job!
droderick Thanks for your 20.51 post of yesterday. As I have a few shares in Primorous I think I wil do what I was planning to do which was dispose of them once they get into profit.
Stena Superfast Vlll just into dock this evening.
www.vesselfinder.com
Being a shareholder and having followed the fortunes of this stock for a long time, I am sometimes dismayed by the credit that is given to Danawinner for allegedly turning the fortunes around of this company. Some key facts:
1. He engineered a board coup of a company of which he hadn't the faintest idea of what to do with
2. He installed himself and his coterie in June 2017 and departed in October 2018
3. His net contribution to Infa was zero, except for humiliating the previous board
What did he achieve for nearly a year and a half at the helm?
Completion of FEED - NO
Financing - NO
Marine Licence - NO
Offtake agreement - NO
Strengthening of the balance sheet with hard assets - NO
Lots of bluster and BS - YES
he effectively left Infa in a state of complete mess and disarray only for JW and the team to pick up the pieces, put them together and make some sense of this company. If Infa were under his watch today, it would have probably been non-existent.
Let us give credit where credit is due: JW for pulling the company back from the brink, JT for her sheer perseverance with DAERA and NI bureaucracy and the overall team for having the courage to come together, back JW and create something meaningful.
In the meantime, Danawinner re-assembles his coterie, who are equally unqualified, trying to poach another company, again, about which he has not the faintest clue what to do with.
We, as shareholders, probably got lucky and got away with the misadventures of Danawinner. I do feel for the shareholders of Primorus. They can pretty much kiss goodbye to any hope of a turnaround or change of fortunes with Danawinner in their camp.