Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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What an unnecessary storm in a tea cup. The share price has fallen and we shareholders are getting upset about an LoI lapsing? Especially when the Company's RNS very clearly said it is a non-binding LoI and a number of steps need to be taken to take it to contract.
I especially use the word "lapse" because on 30 June, either a binding contract is executed or the LoI just dies a natural death.
I am not privy to the Company's decision-making processes but I can only imagine that with a massive pipeline of opportunities of over a billion pounds, the BoD will have to start prioritising and using its resources in the most productive manner. So if this particular deal appears shaky, why would the company pursue it aggressively?
Triumph might feel aggrieved but thus far, barring a whole bunch of LoIs announced on their own website, what exactly have they built and commercialised? To my mind, if they were so successful in converting all their LoIs into contracts, they would be the first to announce it on their website and they would be rock stars of the global renewables industry.
Neither of the two events has occurred. Time to move on and focus on Saipem and the Azura.
This is also interesting and IMO a true statement.....placing ahoy!
The company also referred to Harland & Wolff’s contract with Saipem, in support of which InfraStrata announced Placing and Open Offer in May, saying “the requirement to execute Placing and Open Offer to raise funds to be able to execute a contract the size of Saipem’s clearly demonstrates that InfraStrata may not have been financially capable of executing the contract with Triumph”.
So they are basically accusing the company of a false representation of the truth and being misleading. Honestly who are we supposed to believe??
"Triumph Subsea called the statement “completely erroneous, misleading and a false representation of the truth”, saying that InfraStrata’s statement implied that Triumph was unaware of the LoI being set aside, while the company had already cancelled the LoI.
“Furthermore if InfraStrata considers putting together a formal quotation and schedule as ‘investing heavily’, then they should reconsider if they want to be in the shipbuilding, renewable or energy sectors as putting together formal quotations is a key component to actually getting to the point of being in an ‘effective contract’”, Triumph Subsea stated on 1 July."
It passed me yesterday I Irish sea ,decent size boat for a refit imho ,steady revenue stream for infra while they sort out what they doing with the others no brainer buying more at this price they building up nicely fund raise ?,don't think so ,more like Groverment funding imho just watch what happens ,had a chat with Wallace last week going into London ,nice chap .
Chitta,
On one hand yes, on the other hand in all honesty are these assets or liabilities? There is a reason they cost next to nothing, and unfortunately the scale we're at means we are completely beholden to the government now. Private sector maintenance contracts and renewables will not keep INFA afloat by any stretch
Unless bumbling Boris comes up with a something to back up his public commitment to help shipbuilding etc then the only saviour could be funds from a conclusion to the gas cavern project.It seems beyond belief that Infrastrata would be able to pass due dilligence on the Aquisitions of 4 important assets in the UK.Surely infa must have had something in reserve to allow these Aquisitions to go ahead..
JW seems happy
John Wood
CEO at InfraStrata Plc. H&W (Belfast) Ltd
1h
Fantastic to welcome Azura from Carnival (UK) alongside the Harland & Wolff ship repair quay this morning bright and early. Azura is the largest cruise ship ever to be H&W or any other UK yard. This is a market we are pursuing hard, it’s fantastic to see a UK based cruise ship back in a UK shipyard. We look forward to demonstrating our abilities in the comming weeks. #H&W
visual confirmation courtesy of the H&W Linkedin page https://www.linkedin.com/posts/harlandwolff_we-were-pleased-to-welcome-the-ms-azura-this-activity-6816614913495199744-h1u7
This is quite interesting Belfast to get Hydrogen refuelling station
https://www.insider.co.uk/news/logan-energy-commissioned-design-supply-24438691
Seems to tie in well with NI energy strategy
For Scenario 3a, a large-scale hydrogen production plant is located to the Northeast of Belfast. This location is chosen as it is near the gas and electricity transmission interconnectors with GB, it is near a likely connection point for future offshore wind farms in the north Irish Sea, it is near the Islandmagee salt cavern facility, which could be used for hydrogen storage, and it is near Belfast. The plant produces hydrogen for a refuelling station in Belfast in 2030, which supplies buses, trucks, and trains in the area. The hydrogen is transported by tube trailer to the station, which is located 30km from the production plant.
Taken from page 18 of report
https://www.nweurope.eu/media/13425/hydrogen-exploring-opportunities-in-the-northern-ireland-energy-transition-march-2021.pdf
I have confirmation from both the Belfast Harbour website and vesselfinder.com that the Azura is now in port.
Just seen this article from Vox markets on yesterday's trading statement. https://www.**********.co.uk/articles/infrastrata-secures-3m-in-revenues-in-latest-quarter-77e3309/
Sorry for the off topic, but I wanted to rant, has anyone of the loonatic investment market actually read the Didi prospectus I wonder? Do they understand that the company makes numerous references to being manifestly underinsured? They have a specific section in the prospectus that makes this abundantly clear. Just mental...
Stokey12, was thinking the same. I have done many such deals with multiple export credit agencies in a number of countries. These things are not simple given their tripartite nature and they take time and are not “cookie cutter”in any way. They require a lot of financial disclosure, approval, discussion and customer time which means a lot of lead time before each new contract. I truly hope INFA are geared for this or that there is a blanket facility (which I have not seen before). Nonetheless we can hope there is a repeatable business model that has been put in place. It is all about repeatability..
Loosegoose In relation to your 17.35 post in respect of the credit finance I was thinking could they be using a Export Credit Finance Facility underwritten by HMG? This would give reassurance to the lenders that they would get the money back. Also the existence of the credit would hopefully persuade cruise companies to place contracts with H&W. Also there are some new cruise ships likely to be ordered in the coming years this kind of facility would help in trying to get some of those orders.
Excellent reply Pokerchips thanks will spend sometime on research
Thanks very much OT
… is on its way. https://www.vesselfinder.com/?imo=9424883
My views on the trading statement. Confirmation of Azura arriving at SRQ for a few months for minor repairs and now we see it in the way. Saipem moving and hopefully some of the performance bond will be released before the contract is completed. I like the financing product for cruise repairs and would like to understand a bit more - critical differentiator and not bad considering INFA has had problems getting reasonable debt finance. Higher value ferry contracts - comes with a bit more credibility in the sector. Exit from the Triumph LOI - I don't think this is the last we will hear about this. Preparing representation to convert IM from gas to hydrogen - good news for the future. In the meantime the wholesale price of gas to NI keeps going up on supply squeeze. Basically everything painted as rosy except the share price indicates otherwise. It will take a long time for the BoD to get sentiment and market credibility back.
oldtramp
the new limits on sulphur emissions came into force in 2020 so I would imagine a lot of ships have already had some sort of conversion done, if needed, in preparation for those new Regulations.....however I wouldn't quite discount LNG as an alternative... just yet
.....and whilst Electricity and batteries have definitely been discussed, this article indicates some of the short falls and problems that possible solution has at present ..especially with regard to the bigger sized ships .until further innovation becomes available
https://cruiseradio.net/plugged-in-electricity-to-play-bigger-role-in-powering-cruise-ships/
I know ports like Barcelona, Palma Mallorca, Venice ( the 3 worse European ports for cruise ship emission pollution) are pushing for even further regulation to combat the pollution levels so maybe further work is going to be needed as time goes on to improve these ships, even further... further afield Sydney and such like are doing much the same ..setting regulations even tighter
Thanks DTW just wondered why carnival are building lng cruise liners
https://www.maritime-executive.com/article/north-america-s-first-lng-cruise-ship-fuels-preparing-for-mv
Obviously it is just a debate I have no idea on what the way forward regarding CS emissions are.
Quite an interesting topic though what is the way they charge the batteries hydrogen electrolysis ?
oldtramp, no LNG conversions are not really viable as it is more of a short term solution for vessels.. Battery packs and other options seem to be the fuels of choice.
No prob pokerchips
General question chaps what do you make of this post from linkedin a few days back ?
https://www.linkedin.com/posts/harlandwolff_we-are-proud-to-work-with-bmt-to-offer-an-activity-6814212918108913664--Gf5
Just i read a lot of new cruise ships are now using LNG could conversions be a good market ?
oldtramp
Thank you..appreciated....
Just to add it is a teaming agreement the next stage is JV obviously they can’t have that until they have a Venture
Hope that helps it is the latest update