Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Does anyone have any status updates or knowledge about this large fabrication contract now that the negotiations ended with BiFab? https://www.theconstructionindex.co.uk/news/view/hopes-dashed-of-financial-support-for-bifab
Fully agree Tango1. Investing in the right CAPEX now to reduce future OPEX through automation makes a whole lot of sense.
Posted by H&W on LinkedIn now. https://www.linkedin.com/posts/harlandwolff_madeinbelfast-hwbelfast-letsgetgoing-activity-6752205568066379777-z6YE
Stena Hibernia has a 16 day refit planned.
Stokey12, I think we should count on a video call again.
Thanks Spud, yes a massive year in terms of proving the technology with improve output. I am certain in the coming years we will see massive scale up and deployment not only in Europe but around the globe. If I connect that to the WDVs and PLSVs that will be needed , then there clearly is a demand for the vessels being made by Triumph from large operators now moving into this “niche”market. As noted in the article you shared, the capital needed to deploy floating still dwarfs that required for oil and gas. I read that Petrobras has extended the charters on 3 Subsea7 vessels up to the end of 2022 (link below). I expect that once newer, greener PLSV and WDVs are available there will be a switch in the charters to reduce open and improve the environmental profile. Big changes and I remain confident that the LOI will be converted into a contract and that the second vessel will also be contracted in due course. The first steel is being cut on the Triumph vessel in Brodosplit in Q1 and we could take the progress of that build as a lead indicator. The ducks are perfectly aligned here but it is not too far fetched either. https://www.offshore-mag.com/rigs-vessels/article/14182886/petrobras-extends-three-subsea-7-pipelay-support-vessel-charters
Exactly Tango, I was just about to comment that wind turbines are a strong probability.
Stokey12, I think some are starting to understand that Triumph Subsea Services is more than what most first thought. The contract signed in Croatia and the lack of green credential wind turbine installation vessels gives me assurance that they have the financial backing and are serious players in an empty supply market with demand increasing rapidly from almost every government. Follow Gray Johnstone on LinkedIn. As you have said before the value of just one build is transformational for INFA.
There is a lot being posted in LinkedIn today. Quite a bit from Triumph Subsea Services Ltd about the LOI with INFA, also quite a bit from other partners and about their technology and environmental profile. Very interesting and reassuring indeed.
Stokey12, if it was was a recurring revenue stream at those levels then I am fully with you. Since it is a one off and does not represent future cash flows I take a more conservative approach on that 1 single contract as relates to value. The main thing is that we are way undervalued and I do honestly believe that the good things will happen.
As we near year end here is my short synopsis of where we stand
1. Share price holding around 50p which is not bad considering no new news.
2. The new ML consultation does not really seem to be a consultation - lasting 4 weeks over Xmas and New Year with no new documents required and no public meetings. The ML is likely to be determined not later than 31 March but more likely within a few week after the consultation ends.
3. The principal offtake partner is Vitol and the storage services agreement is very well developed with the possibility of another major gas distribution network operator also interested in equity.
4. Triumph Subseas Services LOI for 1 or 2 ships for ±350m each. Confidence expressed by COO on LinkedIn that the ships will go ahead “watch this space”. This project will bring new jobs, new technology and environmental advantages. The LOI for just 1 of the 2 ships is probably worth the current market cap
5. The dry dock business has been at cash break-even since September - showing sustainable results
6. There is a lot of pending work in the cruise industry with COVID refurb work ahead of the April cruise season start. Possibly this will be impacted by the Covid news over the weekend.
7. Serious job offers being announced - especially the most recent “shotgun” approach. Check the H&W website or LinkedIn for details
8. Very large pipeline of work with renewables and wind turbines
I did sent her a message to please post more pictures on more channels. I think it was with Oceanex Connaigra where there was quite a lot of activity that was highly appreciated. Probably they are working on bigger things.
I did not realise that the consultation close date was already 13 January 2021. That is just 4 weeks away with XMas and New Year in the middle. In fact it hardly seems like a consultation at all. Feels like good news to me.
Fully agree Spud. The woeful days of the past are gone and INFA is a new company going forward.
The light at the end of the tunnel is most likely not an oncoming train. I have read the RNS a few times. Personally I see this as a significant move by DAERA who would normally never indicate any kind of timeline - I expect the wording of the RNS was jointly agreed. Now that we have an approximate timeline agreed with DAERA we probably won’t go down the path of needing a Judicial Review. I believe the word “likely” refers to the probability of the ML being awarded, rather than a “likely” timeline.
Jabido, sorry that was the weirdest autocorrect I have experienced. Ha ha.
Jambi do, me neither. We have seen many adverts for estimators, project managers etc but never a general calling of everyone and everything. Quite an interesting approach which in my mind signals a lot of people are needed. Perhaps the Triumph Subsea Services LOI? If something else, then even better.
https://www.harland-wolff.com/news/jobs/all-trades-trade-helpers/
H&W on LinkedIn today, “Harland & Wolff are looking to hear from all trades and trade helpers (industry experience preferred) to join the team in Belfast”. That is a rather open advert, must be a lot of work coming else why advertise in this way.
What are the thoughts on the oil rig decommissioning business? Understand it is picking up and even if it is lower margin business, anything that contributes to the fixed overheads would be most welcome. Also, if I remember correctly, H&W are one of a few certified in Europe. Most of the segments are starting to come through. I still believe we will hear something about the ML this week.