Member Info for jfk9

Cash balance $17.5m, seemingly down 0.8 from 18.3 at Q4
Revenue $21.9m
Operating cost $8.3m (91•2929•31.1) from op break even
Costs $6.5m (hedging, capital spend, tax and prepayments)

Leaves £7.9m not explained, would that be management costs, overhead and royalties?

Cash balance $17.5m, seemingly down 0.8 from 18.3 at Q4
Revenue $21.9m
Operating cost $8.3m (91•2929•83.1)
Costs $6.5m (hedging, capital spend, tax and prepayments)

What accounts for the balance of $7.9m?

Nice write up in the Mail on Wednesday - cruise ships returning to H&W. Shame it wasn’t in the FT but I guess every little helps.

I suspect the price to hover around here for a while as some who participated in the Primary Bid offer, expecting to make a quick profit, now sell out, recover their investment and move on.

I would certainly do London but be happy to travel to Edinburgh if that is the only opportunity.

Ross, let’s hope they are prepared to hold F2F agn/ presentations this year, that will provide an opportunity to push them on such matters.

To quote this morning, a spokesman from the committee for fuel poverty ‘we need more gas storage….’
No progress on IM just crazy

If fiscal reform is not forthcoming, which increasingly looks to be the case then Trinity need to be bold and state that it will limit investment, exploit existing assets to the most and return value to shareholders. I believe this is quite likely the most attractive outcome for shareholders, it certainly avoids risk.

And without reform they continue as now and pay a handsome regular dividend of 20 -25% for a good number of years. The short sighted taxman looses big time.

Tracking the gas price and a day for profit taking ahead of next rise

6.5% dilution on warrants and if that makes them an additional £3m, on SP of 45p I will be relieved, over that a bonus

Those are in fact all small buys today, though appear as sells

Consuelo,. Like it or not IM is strategically vital is of considerable value and will undoubtedly progress.

I am in a similar position so won’t sell, but equally as on the previous occasion won’t participate in a further placing. Looks like it would be at under 10p, valuing the business at around £15m, little more than was paid for the H&F yard. Yet more dilution! Right now I’d be happy to get out with half my investment, but can’t see that happening any time soon. Assuming they get new contracts I suspect margins will be very tight.

Oldtramp, that’s all fine but in the meantime if they run out of cash and don’t get necessary credit, the business collapses - there would be a fire sale of the assets and what little value we still have in the business would be wiped out. It seems a very high risk strategy which appears now very much in the balance. I, like many, invested in a much needed, shovel ready gas storage project, which I don’t doubt will eventually go ahead. My great fear is that we will not be the beneficiaries. BP makes a very good point, realising JW’s ambitions looks to have left the business in a very precarious position, I just hope to God he can pull it off. Presently investors do not seem to be backing him to succeed.

I hope that the current flurry of sales is a tree shake of those who got in via the PrimaryBid offer. At a 30% discount they would’ve hoped to make a quick killing perhaps now left licking their wounds, though not as much as many of us long-term holders.

And that I suggest looks increasingly unlikely given the apparent lack of vision displayed by the Trinidadians authorities

Can’t see them wanting to sell out at these depleted prices, they have been around for a long time and I don’t think likely to be sitting on much of a profit, if any. Despite what the RNS states about David supporting the strategy, I wonder whether that really is the case.

BP, I suspect you may well be correct. I fear any return on IM will be poured straight into the shipyard black hole. Had they been given away that would still not have been cheap enough!

Courageous