Firering Strategic Minerals: From explorer to producer. Watch the video here.
stokey12,
If the Company had anything material to announce, they would be shouting it from the roof-tops.
INFA has been "recruiting" for years.
Chrisatrdg,
What a wonderfully appropriate typo in your most recent post!
Sorry, couldn't resist.
oldtramp,
I worked for a company that held the agency for several dry docks, although this was not my area, so I have absolutely no idea as to the costs involved in docking a vessel, sorry. The company subsequently dropped all yards, as there had been no money in the model for many years.
stokey12,
The installation was carried out by MJR, not H&W - Belfast merely provided the garage space.
Whitdawn is a bunkering vessel, run by Whitaker Tankers (one of my former clients). I would assume she is heading to Belfast to gas up another ship.
stokey12,
From my recent visit to Belfast, I would highly recommend the city.
If your budget stretches to it, stay at the Titanic Hotel. It is located in the former drawing rooms of H&W and is a museum in itself, you can spend hours wandering around and getting a sense of the history of the company and shipbuilding in general. From there, you can walk around Queen's Island and get an idea of the scale of the yard and how busy it may, or may not, be. Shamefully, we did not have time to visit the Titanic Museum, located right next door to the hotel. As far as I am aware, there are no public tours of the H&W yard itself.
Belfast has some great bars and restaurants and a really lively vibe. I can also recommend the hop-on, hop-off bus tour, which has a stop right outside the Titanic Hotel. From this, you get a decent overview of the troubled history of the city.
You can even walk from BHD airport (into which BA flies) to the Titanic Quarter, should you be so inclined!
Where are the official announcements of serious contract work, which might lead to some recovery in the catastrophic share-price?
mcadder,
You are pre-supposing that no shareholder has informed the company of a change in holding; it is the company, after all, which notifies the market.
Is it likely that there have been no TR1-notifiable changes in the last 10 months?
stokey12,
Exactly. The refusal to update the list of significant shareholders, in blatant breach of AIM rules, can only be explained as an attempt to hold back the tsunami of selling that would/will be unleashed when it is made public who has sold out. That is on top of the already disastrous share price performance in recent months.
Setanta1,
Thanks for the sentiment! To confirm, the figures I quoted were peak to trough; my loss currently sits at around a quarter of that number. Oh how I rue the day that I did not press the "sell" button for a £70k+ profit...Ironically, I started out trading this share and doing nicely, but bought into the IM narrative when AR was appointed, based on his background at Humbly Grove.
I fully endorse Spud's philosophy of buying the management of these small-cap companies (whoops!); to my shame, I did not initially pick up on JW's disgraceful history as a phoenix - had I done so, I would have sold out immediately, at evens.
Something I learned during my visit to Belfast was the H&W has effectively gone bust and required bailing out several times, not just once. I maintain that the yard will never turn a profit, unless someone can convince me of the special sauce that JW possesses - I have been asking this question for 18 months, to be met with silence from the rampers and insiders. I am not after the recipe, just a taste...
stokey12,
Perhaps I am arrogant, but marking to model, as opposed to marking to market, is what got the world into its current financial mess.
If there are no buyers, what is the value?
stokey12,
Perhaps I am arrogant, but marking to model, as opposed to marking to market, is what got the world into its current financial mess.
If there are no buyers, what is the value?
Stokey12,
You are rather missing the point - and not for the first time. You seem to have implicit faith in the "revaluation" of H&W Belfast; if/when it fails again, for the umpteenth time, do you really see anyone paying anything like £6m for a junk-yard? I stated at the time of the "acquisition" that the value of the yard was as scrap; having seen the size of the big cranes up close, I shouldn't wonder if the cost of dismantling them exceeded their scrap value - they may never move again! Doubtless the leg-breakers did their due diligence prior to offering that usurious debt facility, but I wouldn't be writing that yard as £2m of collateral.
Have you seen the state of the place? It is full of rubble and junk and appears derelict. There are big plans to re-develop Belfast's so-called Titanic Quarter and maybe, just maybe, something is afoot in that regard.
As a shipyard, it is as dead in the water as it has been for much of the last 50 years. No-one has yet been able to give me even an inkling of the special sauce that our genius BoD is bringing to the table, to succeed where so many previous, more capable and experienced, figures have failed.
Nobby31,
"I’d happily take 40p right now from someone that can fund the company and get the yards operational".
I cannot imagine anyone would take these yards, even if they were free. They will never turn a profit today. Remember Belfast is hocked, too...
TheEast,
There has been radio silence because, every time JW posts something on social media, it gets called out for the obvious BS that it is, usually on here!
Prior to the last placing, I posted in April that the next raise would be the last; as stated by Iamsailing, INFA has simply run out of road. An immediate granting of the marine licence and some very canny funding negotiations are our only hope; having seen first-hand the state of H&W Belfast, I am more incensed than ever at the Turkey Twunt's trousering.
To add, prior to my visit and stay at the Titanic Hotel, I hadn't realised how many times H&W had already gone bust and had needed bailing out; this in pre-globalised times.
So what's the secret Turkeys' sauce that will see these yards soar to profitability in the 2020s?
I have been in Belfast since Saturday. I know that the last was a holiday weekend, however a profitable shipyard is not a 9-5, Monday to Friday, operation.
Regardless, H&W is like a graveyard; no crane activity, no machinery movements, not a soul to be seen, even today. Azura is sitting there, looking lonely. Surely a 3 month stay of a vessel of her class would warrant some kind of news? Perhaps she has been offered 3 months' free parking, so that P&O can iron the table-cloths whilst shareholders get excited at her sheer mahoosiveness and the BoD plays extend-and-pretend...
Silence from droderick (who seemed to have inside knowledge of the LoI's automatic expiry) and Karen...
How much profit is there in a £1m one-off vessel, especially with no staff experienced in a build of this type?
stokey12,
I could knock that up in my garage!
I would hope that H&W have their sights on bigger fish (though I have my, oft-repeated, doubts that they will be building anything).