The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Substantial director buys are needed. The big ticket items are from sometime in October so unless a big rabbit out the box contract lands that we are unaware of I can't see how the trend will stop. Get the new NED on the airwaves too to demonstrate her calibre and give confidence in her abilities to help steer us to profitability. Gla and hope everyone isn't too depressed at seeing SP below 10p.
Think BP used to crystal Ball a 10p placing when we were in the teens...I'd happily accept that now lol :p
George is an extremely knowledgeable contributor to all things navy. He is also a staunch supporter of Scottish shipbuilding in general with his articles continually bigging up the current duopoly of the navy build program. Very little hope we would get him kicking up a fuss in the articles he writes that would in any way benefit Harl and Belfast in my opinion.
Re the subject matter, it would be a travesty if it goes to the Netherlands. Other than lack of specialist equipment, I cannot think of any other legitimate reason for us not getting the dry dock if rosyth cannot take her in. Any issues with expertise or experience is easily solved by parachuting in bae or Bab**** engineer's. Let's see how it pans out. Gla :)
With today's price increase announced Im hoping once again there are calls for gas storage in the media and it increases public awareness of islandmagee. Pretty sure JW was quoted on sky news last time round as well as his interview on radio 4.
Just read that northern Ireland aren't included in the price cap - their bills are going up already! It's madness that all and sundry aren't clambering to get islandmagee built.
Speedy thanks for your links. I also read that a lot of South Korean shipyards aren't making a profit currently. That's where the diversification comes in for Harl - we can't rely on shipbuilding alone, and we aren't (latest arnish contract win as a case in point).
Gla , hope to hear JW on the airwaves! If not then face palm the missed opportunity imo
Hopefully Richard, fingers crossed renewables will be a big part of revenue going forward. If we take the latest presentations as said then we have several mou's with the winner's of the latest crown estate awards.
BP I admit, at times, I understood your angst with the bod and direction the company has gone, I've felt it too. But seriously that's your reply? What the boat looks like? Laughable
I will try not to flog a dead horse anymore and my messages to fellow Investors have hopefully at least brought some ease to some. I certainly have needed it from others at times!
I will reiterate once more, we got the ML, JW has a plan B should the JR go against us, and we will get a big slice of the fss either through team resolute or team UK.
Good luck all, I think we'll be ok :)
From latest report "The Group utilised the services of Arrow Marine Management Limited (“AMM”), in which John Wood is sole director, for the various survey
works and studies required to be undertaken in order to update the necessary environmental information required for the marine licence
in relation to the Islandmagee gas storage project. The total fees paid for utilisation of the survey boat and personnel by the Group for the
17 months to 31 December 2021 was £185,760 ."
Chris thanks for supplying the info relating to the previous annual report. It confirmed my message regarding the why all the fuss now... particularly as the payment was less than the previous period and spread out over longer period. Point still stands, it assisted in getting us the ML.
Puggy, I see 2 recc's which proves you and the other nimby's are ever present just to bash. You literally haven't a clue what tendering process occurred so once again more mud slinging with zero evidence to back it up.
The question is do PI's wish to believe you or the auditors...I know who I believe and it isn't you
Hi all
With the greatest respect I'm quite dismayed with how the focus has shifted over the past few days on the board. As ban has mentioned, audit and processes are in place to make sure everything above board has occurred. Yes this is aim, but I am not concerned with how the services of the boat were acquired. It was there to do a job (a job we have very well known about for well over a year now without any fuss) and if it secured us the ML and the go ahead for the multi million pound project then to a large degree I couldn't care less how much it cost or if JW benefited.
What I see is pugwash and a few other nimby's stirring up trouble where there is none to be found.
The company has just released an outlook that literally paves the way for breakeven next year and dividends the year after and that has been completely overlooked due to folk allowing Consuela et al to take centre stage. They have no interest in helping us, they simply wish to throw mud in the hope that some sticks.
Raise genuine concerns with management if you want to but don't get suckered in to believing nimbys are here to do anything other than trash this share.
We are up against the MSPs, unions,enviro groups and now seemingly the telegraph so the last thing we need to be doing right now is adding to that by allowing ourselves to believe due process was not followed in this case.
Lastly, I ,like Stokey, believe the new NED has been brought in to help bring the company to a new level on it's journey. I don't believe it's so islandmagee can be sold off for a tuppence.
Quote me in 6 months time but I'm very confident us PI's will be much happier with the ML and fss wrapped up by then.
Gla
Agreed Nobby on all points. As I've stated a few times I'm more confident now than ever that the company turnaround has begun. There's also the possibility of any outside the box contracts being announced. By end of Q1 we will be smiling lots I'm sure. Especially given we are pretty nailed on for FSS work. Gla and let's hope the BOD buy a big chunk soon
Hi Stokey, this subcontractor work is precisely what JW mentioned at the investor call recently. The govt asked us to submit subcontractor proposals to the other bidders. In essence, we will get a chunk of the pie no matter what. Fantastic news, even if we lose, we win massively. Re the type 26, we went into administration therefore once infa brought h&w the prior agreement was nil and void. They refused to give us any work thereafter, however, this is different as the govt have instructed it. Win win in my view. Perhaps now II's and PI's alike will start buying in anticipation. Gla... another confidence boost for me
https://www.navylookout.com/details-emerge-of-team-uks-fleet-solid-support-ship-proposal/
Happy reading folks
Si, it's early morning, can you elaborate for me? What's the link? Lay it out to me in simple yet full explanation of your thoughts please, as if I were a child :p
My views on the sale of IM is JW has only just announced progress on a path that could see us have 100 percent equity in it via a few govt funded avenues. There is no way he would sell now without incurring the wrath of the investors and II's. 100 percent ownership of a multi year billion quid revenue facility or 10 to 50 mill now. It makes no sense. Instead of thinking of reasons it would be nice to just sit back and enjoy the fact that a high calibre person has joined our board and audit committee. Gla :)
Hi Avyer
JW said he is sure to purchase more shares when he can particularly at this price. I took that to mean they are in a closed period rather than he's struggling with the cost of living crisis. As Stokey has said maybe the window of opportunity will arise once the accounts are published.
https://www.google.com/amp/s/amp.theguardian.com/uk-news/2022/jul/23/even-the-monarchy-doesnt-want-a-new-royal-yacht-but-liz-truss-does
Avyer you beat me to it! If I was a betting man I would say this sadly isn't going to go ahead. If Liz gets in then as the article says, private investment is another way to say it's on the back burner. Bring back Boris! ;)
Hi all
I followed up the investor presentation with an email to investor relations FAO John Wood and I can confirm that John has replied to me. His responses were considered and came across like he has taken on board what I and other shareholders have been discussing on this board.
I questioned his statement that his role was to bring in contracts and also suggested that more needs to be done to repair the reputation of the company and create a PR and shareholder value Strategy. Us PI's all agree the company could be doing more than winning contracts to improve the chances of the share price improving.
The production of a guidance report is in the making with the purpose of laying out how the company will get to profitability and dividend payments...yes that's correct, dividend payments! I presume that will be within 3 years. JW admitted the presentation should have put this in plainer sight in order to reassure us that the company is making significant progress.
The annual report fully audited will be published soon. There will be no surprises in there as the unaudited release contained the figures for the 18 months.
Nothing that JW mentioned has given any reason to believe a placing is imminent or required at this time.
He also stated that at current SP levels he would be looking to buy more shares when allowed (closed period).
On the q&a he stated the company is pretty much where it's at in terms of labour to service contracts including m55, so I personally don't think a placing is needed for any work currently secured.
For all of JWs criticisms I found him to answer my questions direct and take on board our views.
God knows why the SP is performing so badly but following the recent contracts , the investor presentation and now seeing that JW is trying to support investors with the publication of future revenue guidance etc I am willing to stick it out until at least the FSS is awarded in Q1 next year, the strategy is working, the SP price is not. It's crazy that we are in this position after 75 mill of contracts has been awarded.
Gla
Well slap me down and call me fan E. GMB union have often top trumped the Scottish yards getting the fss. I've only just noticed the head of the GMB is a scot. It's not just the strong political landscape we are up against, it's the blummin unions as well protecting the status quo of Scotland industry. Feel free to call me paranoid haha. No wonder he wrote to Ben Wallace recently about the issues at methil about the strike.
Speedy, apols for late reply, suffice to say yes down a bit more than yourself, but I'm confident in the strategy so I stay invested.
Thanks for the link LSE and gla :)