Member Info for Benbay001

Interim results i believe CHRI55, and its the 1st of June by my recollection.

I cant find any news linking Tekmar to Iberdrola so i guess they arent a customer.

I did note on their twitter
"Subsea Innovation deliver bespoke technical engineering services for any requirement. We've recently secured several work packages in the UK, Europe, and India to design moonpool doors, anchor points and system upgrades."
I have no idea what moonpool doors are but it sounds like money flowing in the correct direction :)

Nice to see youve bought some Chri55.

We need another bear to move in here now to keep me sane and rational. haha.

No so funny, if like me you sold your pre covid 32p shares for 16p not that long ago. Haha. Oh well. Good luck all.

I thought the same about 60p a couple weeks ago ;)

Well.. that shot up. (understandably)

Fantastic. New high today i would imagine.

Boyo - " I note that ten windfarms have been affected but T only appear to be discussing one - Race Bank - this implies that T’s products were either not used at the others or were unaffected."

If you find the Orsted report it states that all 10 need remedial action but race bank is the worst affected.
Race bank cable actually wore away to the extent of a power outage, whereas the others are either damaged or simply need a load of rock dumping on top to stop the cable moving around.

Thats how i understood it anyway.

CHRI55 - "Its a 3-5 year hold as i see it for decent returns at these levels."

Im still expecting the interim results on 1/6/21 to be a corker.
Everyone here seems to be forgetting the number of contracts Tekmar has won over the last few months.

Im not trying to cover for the risks in this stock. Its my riskiest, but the upside potential is frankly massive IMO.

I dont know how anyone has taken the RNS as a negative, unless they werent aware of the Orsted situation in the firstplace.

Personally as someone who emailed TGP on Friday its put my mind at rest completely and its also pleasing to know the board are responsive to shareholders enquiries.

I hope youre right.

Im in two minds about what to do with my position.

I was excited about the upcoming results next month but this has given me some pause for thought.

Ultimately this is a relatively new industry and mistakes are bound to be made.

Im not sure where i wrote it but there is a piece in the annual results on the risk factors that affect the company and the mitigations taken thats worth reading.

Chris, anyone who takes what they read on an anonymous forum as advice deserves whatever they get.

However..
"Then, together with the industry, we thought that there was a better solution, and therefore we did not put the additional second rock layer on top."

I would be very surprised if "industry" isnt Tekmar.

Even to my untrained brain, having a plastic cable and cable protection rubbing against the sea bed for an infinite amount of time seems like a bad idea.

Looking at the fy20 results there is a diagram on page 14 showing all the cps locations. Race bank is a gen 7 cps and there are 19 gen 7 cps systems.

Well that is the worst case scenario.

But if its going to cost $400m to fix and the company has £2m in cash then i guess they go bankrupt.

I added to my other email

"Please can Tekmar also clarify in the interim results their procedure for reporting contract wins as there is also significant confusion as to the reporting of the wins.
Some get announced through RNS, some through your website's media section and some through Twitter.
Thanks again
Kind regards
Ben"

Whether it makes any difference ive emailed investors@tekmar.co.uk

" Please can you provide an update for investors on the impact to Tekmar of the faults found by Orsted of their CPS and whether this has been caused by faulty Tekmar products or by faulty installation and the liability of Tekmar.
Its causing significant uncertainty for smaller investors, combined with Schroders selling down their position and the lack of an update on trading since September!
Please sort out your investor relations of what should otherwise be a great company in an exciting industry.
Kind regards
Ben "

Whether we hear anything..

That would be good for you then ref your post on 22/3/21

"Still think its worth a punt at 50p."

No idea, but it would be lovely to pick yet more up at the 37p i paid last year :P

Thanks for sharing Mark. Where did you find that?

Buys coming in at £4.30.
Last week it was less than £4

Im not complaining, just surprised.

This is definately a LTH for me (unless it goes to more than £6 overnight) average price paid £2.20.

Why is the share price popping?

Indeed.

Id certainly be adding more if it didnt already make up such a large part of my portfolio. (Still that nagging doubt that ive missed something glaringly obvious!)

Thank you so much for that, it was really great to see it all summarised so clearly.

The only thing that made it hard to watch was that id realised how much i missed out when i did my own research :D

I agree with everything you say (otherwise i probably wouldnt be looking here, right?)

The market has totally missed all the recent contract wins. The company has very little downside with a potential massive upside.

You didnt touch on the O&G market where the price was hammered in 2020 and has recovered very strongly since.