Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Pleased to hear that you are on your way to a great shipyard once more - this is riveting news!!
TBH, TNNY, although what he did here did change things for the better,but only in the long run, by bringing in JW and Arun. That post was more to do with him blowing his own trumpet and cross ramping another stock. I may be wrong, but AFAIC he just comes across as a bit self serving and diluted this share to hell. IMO. :)
Good luck to the guy and the other stock but....
Harland & Wolff@Harland_Wolff1·2h
Our Careers Open Day at Harland & Wolff (Appledore) is in full swing! Great to see so many people excited about bringing back shipbuilding to the local area #MadeInAppledore
https://twitter.com/Harland_Wolff1
Interesting read here and reference to INFA. It links in with the Danawinner post last week and the promotion of Primorous.
https://www.standard.co.uk/business/market-report-gold-investor-primorus-under-attack-from-investors-a4543366.html
Thanks TTNY that's gonna be really useful! Stokie 12, I think you have requested a couple of times this kind of info. I didn't reply because frankly I haven't a clue sorry
I would certainly hope so. Quite a bit of positive momentum, but the proof of the pudding is always in its eating. Seems to be many “loose” shares. About 600m were not accounted for in the RNSes after the first big placing and I could not even calculate anything after the most recent placing and the ensuing RNSes. Could not get close with Trying to calculate the TR1s back to the number of shares issued. Any thoughts anyone?
Loosegoose - In relation to your 11.44 post I will have to tell a white lie in order to register for the research portal on the cenkos website as it does not allow retail investors to register. If INFA does not reach breakeven this calendar year it will probably manage it next year.
I think if this level of work continues cash flow break-even will be close. 25m revenue is needed to break even at H&W Belfast, 20m at Appledore. We need a quite lot of these smaller jobs to get there but good progress is being made. I think the Stena contract was around 2.5m - it was quoted in the Stena announcement of the contract with H&W. Oceanex Connaigra is most likely around the 500k mark (given the time frame of the docking). We need continued steady work to get to the 25m mark. One or two medium contracts will push us over the line with ease. Given the ongoing recruitment I believe those medium sized contracts must be pretty certain - would be irresponsible of management to hire if the probability of the work was not very high / almost certain. I don't believe this management team is irresponsible. There are pretty decent financial forecasts available for free on the Cenkos website after you register on the research page.
Jabido. The niferry ferry Facebook group is great for info, particularly on the Stena boats. There's also on FB 2 other groups where there is interesting info sometimes, they're 'Northern Ireland ferry (and shipping) enthusiasts' and 'The Shipyard'.
Each of these groups have pics posted from time to time from people that actually seem to be working in the yard or at least have access to it.
In the absence of any official announcement does anybody have a rough and ready estimate of how much revenue is being generated by H & W it must be close to breakeven I would have thought.
Superfast 8 moving into the Dock as I type :) thanks for the link speedy. Niferry seems to be our unofficial comms team. Great info they have on comings and goings. Onward and upwards... More revenue to help the books
Belfast yard getting busy now......
https://www.niferry.co.uk/stena-estrid-to-make-belfast-debut-tomorrow/
Let's hope Appledore jobs fair is oversubscribed so they can be generating business soon also......
Don't get me started on the ML!!!
Indeed, a very impressive CV, sea-miles. Thanks for that.
In addition to Mr Elvin we have also had the ear of BoJo and the former Attorney General and local to Appledore, Geoffory Cox. Who said, "had been "engaged in constant and vigorous discussions" and would support Infa with their, "credible and established new owner with a viable business plan".
Also, not new news, but from the local press, "New operator Harland & Wolff is hosting two events at the site for prospective employees on Thursday, September 10 and Friday, September 11.
The company says they are being held in readiness for ‘highly anticipated new contracts’ and says they will provide the opportunity to meet and speak with existing Harland & Wolff employees who can share their experiences."
Chris - the nervousness you feel around the awarding of the ML is understandable and no doubt shared by others. To that end, I think management instructed legal counsel with some very specific purposes in mind:
- To assist in unblocking whatever logjam exists in DAERA that has thus far prevented them from making a decision
- To inform the decision making process through the view of a heavyweight legal professional with specific experience in this field in the form of David Elvin QC (his very impressive CV is available here > https://www.landmarkchambers.co.uk/wp-content/themes/landmark/download.php?post_id=475)
- To underline to DAERA the legal weight of argument INFA is willing to bring to the process
- To make clear to DAERA the lack of further grounds for delaying the process
It's all about bringing clarify to a decision that has, no doubt, become mired in environmental, regional and political issues over the years and may continue to be so unless significant rigour and urgency is brought to bear on the process.
Time will tell whether the legal intervention helps to cuts through the chaff, but I make it a good move by JW.
Last month, The Telegraph revealed how foreign companies were invited to take part in “market engagement” about the deal as the Ministry of Defence tries to get it under way again.
Unions have been battling to make sure the vessels are built in UK shipyards. They argue it would create 1,800 jobs directly and is the only major naval construction project in the pipeline.
However, the Government has previously argued that under EU procurement rules the contract has to be tendered internationally. As the FSS ships are not classified as warships, as they are part of the Royal Fleet Auxiliary.
Ross Murdoch, the GMB union’s national shipbuilding officer, said: “There is speculation about other projects but in reality the FSS is the only game in town.”
The Government-commissioned report on a national shipbuilding strategy from industry veteran Sir John Parker three years ago warned that without a “steady drumbeat of work” for UK yards, they faced a boom and bust cycle that would require expensive scaling up and down.
Mr Murdoch also called on Boris Johnson to deliver on his promises to support the sector. Last year the Prime Minister pledged to “bring shipbuilding home” and last month said the reopening of the Appledore yard, which had been closed for 18 months, would “drive forward our ambitions to become a shipbuilding superpower”.
The union chief added: “We need to see the rhetoric turned into reality.”
It would be “economically and industrially illiterate” for a £1.5bn contract to build new supply ships for the Royal Navy to be sent abroad, MPs have heard.
A Defence Select Committee hearing on industrial and procurement policy for military equipment was warned a deal to build up to three Fleet Solid Support (FSS) ships must be awarded to British shipyards to guarantee the country’s ability to produce vessels.
Garry Graham, deputy general secretary of union Prospect, said the FSS contract was “totemic” in showing how the UK fails to deliver what he called a “coherent” strategy when it comes of supporting British industry.
“I can’t imagine other nations sending a contract like the FSS abroad, it is economically and industrially illiterate,” he said. “During the Covid crisis around our European competitors we see them bringing contracts forward to be fulfilled in their domestic markets and that to be a driver for economic change in their own economies.”
The contract to build the 40,000-tonne FSS ships - which help keep the Navy at sea by supplying them with ammunition and food - was halted last year because bidders could not meet the budget.
Detailed below is an abstract from the recent RNS in which we had various updates in which I note that 'within the next few weeks' takes us to this week.Hopefully we will not have a repeat of the EU Grant which went on for months:
Islandmagee Gas Storage Project Update
'The Company's position around licensing remains robust and the Company sees no reason why a marine license will not be issued in due course and that no additional consultations are needed to refresh other licenses. With that in mind, the Company has recently instructed Grant McBurney and Garry McGhee of Carson McDowell LLP to carry out an independent review. To ensure further transparency and to strengthen its legal position, they have further instructed leading barrister David Elvin QC from Lanmark Chambers to provide a legal opinion on aspects of the Marine Licence in order to mitigate against any further potential delays. The opinion returned has provided third-party assurance to the Company that there is no reason why the outstanding Marine License process cannot be completed without further delay. The Company continues to maintain dialogue with DAERA and remains optimistic that a recommendation for the issuance of the Marine Licence will be made within the next few weeks.'
Edit: I am still nervous about the need to have instructed lawyers & I am now showing 'Hold'.
I've looked online and can't see anything... Give us a clue lol
No! ??
See today's Daily Telegraph
Good story, but it will be interesting to see the price of gas when Asia-Brazil-North America-Africa switch to gas to fuel their energy demands, It still remains the case UK need security of supply IMHO
Having listened to a good chunk of the second part what is interesting is I think people (certainly one of the union reps) struggle to understand the link infa has with navantia (the consortium) that will bid for the FSS work. On the one hand they are advocating build British and name drop h&w but on the other say it shouldn't go to a Spanish firm. This links also to the newspaper article which was posted by someone recently where the fear was it going to the Spanish, rather than building British. So, the key for infa is to convince people that the consortium will mean we are building British, rather than giving the contract to navantia
Thanks all for posting about the select committee. I'm listening via Parliament Live.. I failed to get proper contexts for the discussions however I also picked up on h&w being name dropped. Its fantastic we are being name dropped. Anyway onto the FSS now...so il shut up haha
Cheers Chrisatrdg for posting the link for the Defence Committee meeting on Parliamentlive. I'm fascinated to hear what goes on at these meetings. Appledore and UK shipbuilding being discussed at the mo.