Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Excellent. Lengthy, informative and highly accurate post Mr East.
We may all be “jumping the gun here” a little however as I understood that there were quite some deliberations to consider still by Daera.
This is quite frankly a humdigger of a decision to have to make by the Minister.
He will be battling the environmentalists and their legitimate aims against all our experts + the stated policy of the Gov. to support “shovel ready” projects and jobs like ours now.. more so with the crucial importance potentially again of H&W to the employment and commercial status and wellbeing of Belfast + it’s environs.
Remember too that a JR is not cheap . It will cost nearly £1k in fees to get off the ground ...also involve “expensive lawyers” ( I used to be one of them before retirement!) time delays and generally a lot of bother all around . If not successful any applicant will have to foot the bill of our “expensive” lawyers and that does not just include our newly found friendly-faced solicitor from Belfast but also probably Senior Counsel ..and guaranteed for such have to be given up front !! wow some risk and take note ... after all that who knows we may still be OK !!
The East.
Let's hope the lawyer is just another "gear up" towards FID. I remain quietly confident, sooner or later, ML will be awarded. The big question is how it will affect the SP???? Interesting times ahead.....
In England at least (assume NI is similar) just about anybody can push for a Judicial Review in most planning applications- protesters/ objectors usually threaten to trigger one if (typically residential developments) are given the green light.
It is normally nothing more than a delay and annoyance tactic, and would only be successful at preventing a planning application if the correct process hadn't been followed- they aren't designed to review an application against its merits or otherwise, just that the correct procedures/ planning laws have been adhered to.
INFA would have almost certainly had legal input throughout the working up and submission of the ML application, it might just be that they are now formally retained, or of course, they may have received intel that a JR is incoming and are diligently preparing for this.
The reports done for the ML application used about the best consultant experts you can get in the UK for the nature of the work, so would have a degree of confidence that the reports were technically robust so I'd probably lean towards an incoming JR...
Be Nice to know what we are actually paying for!!! But given current performance:( I doubt we will know anytime soon.
Speedy,as long as he gets the job done you wouldn't mind paying him big bucks imho
Christrdg.
Clients describe him as "highly professional and very efficient." They forgot to mention "very well paid" too!
Tango. As I understand only the applicant can appeal the Daera decision. Consultees/protestors do not have that right, but can question the decision making process through judicial review. We really need a RNS to shine light here.
Regarding Grant Mcburney, Maybe INFA are expecting the granting of the licence to be appealed by the protesters, so having the relevant experts on your payroll will ensure any objection is either quashed or dealt with correctly- Then again it is taking it's time so maybe employ someone to chase it while you focus on building the business. No News = no idea................
Is this a clue - 'judicial reviews' ?
Grant McBurney has significant experience in judical reviews of planning decisions, as well as advising on planning applications. Clients describe him as "highly professional and very efficient."
https://www.carson-mcdowell.com/what-we-do/legal-services/practice-areas/planning-law
Great find & not surprising but no RNS yet.The link to the Marine License application is below & how many have read it?
https://www.daera-ni.gov.uk/sites/default/files/consultations/daera/updated-2019-application.pdf
In addition the following is the link to all documents surrounding the ML& how many have read the other sections I for one have not but it is all highly detailed:
https://www.daera-ni.gov.uk/consultations/islandmagee-gas-storage-project-december-2019-consultation-ml-2812
I am still showing as Strong Buy based on the value attributable to H&W.
Regarding Carson-Mcdowell, I note Daera marine license register is still showing "under consideration", so why employ environmental and planning law specialists?
1. ML granted pending judicial review?
2. ML not granted, to be appealed?
3. Daera/consultee objections?
Either way more delay..........
Interesting to see this Northern Irish legal firm have been recently appointed to assist INFA in the ML process:
https://www.carson-mcdowell.com/what-we-do/landmark-transactions/carson-mcdowell-advises-infrastrata-plc-on-marine-licence-application
Grant McBurney is the relevant partner:
https://www.carson-mcdowell.com/who-we-are/our-people/grant-mcburney
Yep, JW has been amazing with his visions on where to steer the company. Wait for the ML to land, and for news of us landing contracts alone and bidding as Team Resolute
Petelutton. I'm sure you are not alone regards IM investment. Unfortunately we must all be patient until DAERA "recommends" the ML (glass half full me thinks)! Where would we be if JW had not bought H&W?? Not a pretty place either. In these most uncertain times, at least JW's diversification provides hope of greater return on various fronts. I was deeply angered at first but have accepted the status quo and will, once again, wait patiently for my investment to bear fruit! The link provides an interesting Spanish perspective on last week's FSS competition news. Use Google translate to read in English.
https://www.diariodeferrol.com/articulo/ferrol/reino-unido-reaviva-debate-torno-concurso-fss-participa-navantia-junto-harland-wolff/20200805232618285837.html
Not to contend BP's points for the moment, free speech is welcome: but to comment on the 'tone' of the post.
All of the classic hallmarks of a grossly underwater retail AIM investor exist, completely desperate for news on an hourly basis and dismissive of further deployment of company fiscal resources ie placings.
Few if any AIM companies are safe investments and none of them are defensive unless entry timings are perfect.
It's been suggested BP that your posts tend to be on the negative side a bit more often than the positive but this was a good post expressing the reasons for your concern. It's good to have a balance of views as sometimes (and I can be guilty of this too) we're maybe searching too hard to find potential positives without looking at the bigger picture.
I strongly disagree with you though that H & W only has scrap value. If it was going back on the market again now(and even with a limited number of possible buyers) I believe it would certainly attain a higher premium than INFA paid for it. The real value of H & W will be if/when the ML is granted and that value is to INFA as a company themselves in the reduced costs of fabrication and construction on the IM project that H & W will provide.
I agree public money will boost H & W if it comes in but hopefully H & W will be self sustainable.
The game changer and best hope of a multi bagger is defo IM. Theres scary potential for growth here if JW can pull this one off.
Given that I got dog's abuse before even posting, I really couldn't be bothered!
I have nothing positive to say about the purchase of H&W; as I have always maintained, the only chance of its survival will be in the form of public money, however it may be dressed up. Perversely, circumstances may have increased this likelihood. I have experience of shipyards and shipping, albeit somewhat oblique, it is incredibly difficult to make money from a facility like H&W without public backing. I also refute the claim that INFA got H&W for a steal; valuing such a facility is incredibly subjective - how, for example, would one value the cranes? To me, they are worth scrap value alone. H&W will be bleeding cash at the moment, changing the tyres on the odd ferry or cruise ship isn't going to cut it. There is a reason for no news...
INFA, for me, has always been about Islandmagee. I have to remain optimistic that the marine licence will be granted, followed by an injection of public money for this "shovel-ready" project. Again, current circumstances make this more likely, although the more time drags, like everyone else here, the more concerned I become about the granting of the licence. Remember that 9 short months ago, no-one here would have imagined that INFA would buy H&W and we were all invested in a potential gas storage facility. It seems that the focus here has moved away from Islandmagee when, in my view, it is the true prize.
I don't know enough of the FSRU project to comment, although things seem to have gone eerily quiet on that front...
The lack of formal communication from the company is nothing short of a disgrace and is contemptuous of the shareholders.
You never did respond to that challenge to say something positive or even a little positive about INFA BP. Go on, give it a go, I think you could do it.
Any chance we could have that article again, in English?
Sea-miles ,thanks for link he's certainly on the ball isn't he !,lots of news to come ...anyone received their allocated shares after consolidation?
For anyone who isn't already a reader of "Drydock" magazine ;~)
I assume his reference to Armegeddon relates to the anticipated volume of work by year end.
htTps://www.drydockmagazine.com/waiting-for-armageddon/
Whilst i do realise Tango1 and Whatamess are of outstanding intellect i will answer you comments.
Whatamess - Firstly i was born within a few minute drive from Wallsend shipyards, thus i'm acutely aware that the shipbuilding industry has been decimated, and a part of this is thanks to our beloved globalist govt preferring to favour Jonny Foreigners skilled workers over our own; using the claim it is cheaper. Well the initial bill maybe cheaper but that doesn't add on the social security benefits, police, prisons etc... it costs to keep unemployed Jonny Englishman on the rock and roll.
Secondly thanks to 4 decades of globalisation and allowing skills to diminish i very much doubt H&W has the skilled workforce within an a couple of hours drive who could build a warship. I worked at H&W several years ago on an oil rig yardstay and the only N Irish i met on site were hole-watchers, who gave a good betting tip. Every skilled worker i met was a contractor from Scotland, England or Norway.
Thus in the medium term if H&W are to get major contracts then i can only presume vast swathes of skilled workers/contractors will have to be brought over, which obviously makes it significantly more expensive to get the job done.
Tango1. Your comment is borderline ******ed, of course i am against wars and young working class British men dying, isn't every right minded individual? Only people i know of that aren't against wars are Hitler, Genghis Khan and Tango1!
Besides you have shares in a company that will be wanting a piece of the action to build Navy ships, surely being a shareholder you'd rather less competition.
https://www.telegraph.co.uk/business/2019/04/23/britain-laughing-stock-tendering-navy-support-ship-contract/
Tony is probably against war altogether, but like it or not it is the worlds largest industry- and every nation has got to protect itself, and even more so for the UK going independent. IMHO
Christrdg. IMO when the FSS competition was suspended last November there was a split between UK GOV and MOD. UK Gov wants low cost/value for money, especially now with Covid19, while MOD is pursuing "build British" with higher/less competitive bids. 3 weeks ago news was that the competition could be scrapped, but now MOD has been given the green light to proceed. I believe the compromise to allow foreign bidders has allowed this to go forward. Team Resolute may well be leading the pack in these circumstances providing the perfect compromise for both MOD and price sensitive UK GOV.
Disgusts me that there is even a debate about building our own war ships and having a skilled workforce, it truly is beyond any logic that it was allowed to happen in the first place.
Just shows the mindset of a certain section of people (traitorous sc um) who run this nation.