Graham Clarke CEO and Andrew Vaughan, Head of Corporate Development from Emmerson the Moroccan potash mine developer, presented at London South East's April Investor Webinar. Watch the full video here.
I had a look to see if Cenkos had written any new reports - unfortunately not. I read the 12 February report again. Considering this comment we must be getting close. “Near-term opportunities. Over the next 12-18 months, management has identified revenue opportunities of £80m+, which includes: (i) fabrication of foundations and subsea jackets for a North Sea wind farm project being developed by an oil and gas major, (ii) cruise dockings from a major operator; (iii) subcontract block fabrication for a prime contractor’s defence programme, and; (iv) new build replacement vessels for a number of ferries and government agencies. It is hoped that contracts for the first two (worth c£40m in aggregate) will be signed in early 2021, and delivered this year, whilst revenue from the others may spill into the following calendar year, depending on when the contracts are signed.”
Thanks ThisTimeNextYear, indeed a decent stay with a sister vessel following immediately afterwards? I am very interested to see the revenue in the interims in the coming weeks. My guess >8m for the 6 months. Not earth shattering but moving in the right direction: solid business, building credibility, building capability, some new customers coming in, good foundation, basic capex done with more to come for bigger contracts which are sure to come. Now for that ML RNS tomorrow morning?
RE: The proof is in the pudding.......31 Mar 2021 12:51
Avyererdowt, yes I think he did say that. He has said many things. I was just commenting on what I thought was happening / about to happen within the normal processes. Anyway, we will know more tomorrow whether DEARA have delivered on their commitment.
RE: The proof is in the pudding.......31 Mar 2021 07:26
Whatamess, I too don't think there will be a RNS today. If I understand the process, DAERA make a recommendation to the Minister and inform the applicant. Assuming DAERA don't do a U-turn on their deadline, I doubt they will give the recommendation to the Minister much before close of business today. This would probably mean the RNS would only come tomorrow morning.
RE: Leading lots of investors up the garden path30 Mar 2021 09:58
jfk9, I found this in the November 2020 investor presentation in the key points summary slide, "Having considered government policy and future growth trajectory, the FSRU project has fallen out of our top five areas which are wind and floating wind, hydrogen, tidal, battery and energy infrastructure." TBH, I would rather they focus on getting the ML and landing a few contracts that were included in their weighted pipeline than get sidetracked with the FSRU project.
Bubble2021, yes 2 days! I doubt DAERA will be late. They sent standard answers to enquiries in January confirming their "latest 31 March deadline" deadline. Would be very tricky to backtrack. Latest Thursday morning for an RNS right? We have waited so long for something , I can wait a few days more.
Stokey12, in the words of The BlackeEyed Peas, "I gotta feeling woo hoo". At the moment there are so many indications that something is about to happen with INFA. We have massive weighted pipelines with renewables, ML recommendation coming from DAERA in the next 6 days, Defense review, recruitments in general, specific recruitments for HR who will be needed for ramping up other recruitment, increased social media presence. So many indicators and no official communication yet (INFANIGMA?). Cannot wait to read the Interims in the near future. When I put all this together there is light at the end of the tunnel and it is probably not an oncoming train. Can't help it and despite the slow downward drift of the share price, "I gotta feeling woo hoo" and this is why I topped up again yesterday morning.
Let us not forget that there is a weighted pipeline of work to the tune of 2bn between now and 2025 - I think this was before the BiFab acquisition? I think in one of the investor presentations they outlined a bit by market and sector but I can’t remember the numbers. Doesn’t really matter since we are a 30m market cap company that has not has one significant contract yet. The instant we get one, just one, bigger contract then perception will change and the SP will change too. The market valuation is at first determined by perception rather than contracted future earnings and we have a Board that has focussed on generating future earnings without spending much time at all on shareholders and the share price (this is true to JW’s word). Maybe that was right for the longer term but now is the time for contracts and a step change in market perception.
Here are my views on some earlier comments on whether the gas storage is important or not. The gas storage project is not important for the survival of INFA. INFA has moved away from being a single project company as JW always said in the strategy. The gas storage project is maximum 8 days away from a DAERA recommendation and which ever way it goes, that is the closest we have ever been. Given that the project NPV at an 8% discount rate is 222m, I would say that it is important. To be able to sell off an equity stake, get some cash to invest in the H&W assets and accelerate expansion of capabilities without cash flow limitations would be massive for INFA. I would fight like a dog for any project worth 222m. T minus 8 days and counting.
So much has been worked on for so long and nothing big has ever been announced. With a weighted pipeline of such a magnitude, public statements from DAERA that they will conclude their recommendation by latest 31 March, with ongoing recruitment etc all the signals are there that something is coming soon. I don’t know what will come first, but my view is that something is sure to come soon. When it does, this very low market cap will move far and fast. Gas, defence, wind, cruise etc - it is all to play for. It appears that although INFA is not as leaky as it once was, there might just be a small leak somewhere.