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They have just raised £12m, I think from looking the biggest raise in the companies history - if it’s all so bad why are some big name II’s supporting and new ones joining ? Gives me comfort that they know far more than we do and they are comfortable with the time line and ability of the bod to turn around. Yes I wanted my x5 by now and out but at least we’re still here moaning, if the people won’t give the ML just what can they do ? I am sure the bod are as frustrated as us
Talking of plumbers the last time I had one was £45 an hour, 10 hours a day, 6 days a week for 50 weeks a year not a bad game to be in!
Spud this is the bit I don’t understand, you claim to be the font of all knowledge. Look where Malcolm’s other directorships are …… yes for Gresham. Wake up and smell the coffee the other II’s didn’t want Gresham dominating the board. I totally agree we need a shake up but what has the chairman done, not sure any of the execs have resisted new NED’s they just want to do the day job.
We all hate where the share price is, if it’s still where it is in a year they won’t be, but be very careful what you wish for. My biggest fear right now is the amount of grief JW is getting he walks. Clearly well connected and won’t be short of job offers without the grief we are giving him. I am in no doubt clients are backing him not INFA.
The game INFA is in now is not like plumbing when someone calls up on a Monday and you get the contract next week, in the world they are working its 18-36 month period for things to work through.
Sit back have a deep breath and forget about this share for three months.
Thanks for that, just had a look on the Brodosplit JSC, Croatia website and there is no mention of the contract or the cutting steel for the ship or any fabrication having being started. It was meant to have started cutting steel in March looks like what I thought originally that Triumph is a one man band trying to build a ship on the back of a rental with no funding up front. not sure why we even bothered with it to be fair.
An interesting update with some good bits and bad, at the last update when JW was rattled they explained that Triumph was on the back burner, if the have no finance in place i get why they wouldn't waste money on it. Did i not read someplace about another ship getting built by Triumph anyone know what's happened to that. From what was in the papers saipem was totally dead and the first units that were meant to be built in Methil were built overseas so they have re built that contract and im not sure it was a given, after all the issues with bifab they must have rebuilt that relationship. I am concerned about the margin it returns but if they perform they could get more work maybe but who knows more, Jam tomorrow.
Don't see what they can do if the decision makers won't get off their backside and make the decision for the ML, if they had waited on this i would have lost everything so I am a bit grateful whilst underwhelmed by the current share price, but understand why its where it is . JW and AR are on less than £300K as per the breakdown after the last fiasco with the bonus so don't know where si Dermans £1m each comes from more pointless negative crap i guess.
Azura is for Carnival who own half the cruise world is this maybe just a test to see how we work, these ships just don't go anywhere they must have some relationship. They are building this from the ground up don't forget we had no revenues so they continue to make progress all it needs now for me is just to keep winning work which looks like the plan from JW's comments - that m55 would certainly put all our minds at rest. Actually beginning to feel more relaxed again aftercall every business has suffered with the pandemic.
Its interesting reading Nobby's rant and rave over the past few weeks, clearly trying to deramp the share and at the same time making others think twice about coming in, what are his motives ?, scorned lover perhaps as he didn't get the NED position he was after ? The institutions that will know far than more than he does recently had the confidence to invest a further lump into the company. The names investing don't do that for nothing, from the research i've done a few observations on some of the information being peddled from a different perspective.
1. The bod refused to let Gresham put another NED or chair on the board as the other institutions didn't want that to happen, lets not forget Malcolm Grot is a Gresham House man look at his other NED position. Why would the other ii's want Gresham to control their investment ?
2. The bod have written a strategy and are implementing it , JW has done it before and it worked - I heard Gresham checked his performance in Australia out as part of their DD before they invested, whilst pathetically slow i have confidence it will work given time - sure the pandemic hasn't helped but its no excuse. We do need more orders i think the bod will know that also.
3. If, as it look's like Triumph who have never built or owned a ship before don't have the money and JW has been tipped the nod of this by banks why waste company money chasing it. For me its sensible not to waste money on it especially if Triumph have unrealistic expectations on price - why pick up a loss making contract. This will have to come out before the end of this month and clarity on what the position is.
4. With how upset we all are over the last raise how do INFA even raise a performance bond for Triumph if they managed to find the cash, from the presentations I thought that was the reason behind Navantia so they didn't need to.
5. Would we all have been happier with 26 announcements of £1m contract rather than one big one, this time last year we were winning £300K contracts. To be honest im not sure how they pulled off a deal nearly as large as the market cap of the company.
6. The bonus payments were terrible and the chairman should not have allowed that to happen, not sure why he is still in the company.
7. The marine license, i'm sure I read someplace that Nobby was part of the last project team, had they done the job right the first time the current board wouldn't have had to clear up the mess as JW put it. Like it or not this is not even in their control anymore, how long before a decision ?, who knows
8. What is AR actually doing ? why there is no large scale debt in the company it's a bit strange, as they have often spoken about it, that would reassure me that another raise is not around the corner.
Looks like there are lots of hidden agendas being played out on this chat board, time will tell how it ends, one thing is for sure if the board walk away so will the clients.........