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People on here saying there would be a big rise this afternoon just because they bought in on the way down, complete fools.

The potential upside has just been reduced significantly and we now have the churn of the CLN's for the next year or more.

New SP target 10-12p....

"Looking for a steady rise back up this afternoon."

Isn't everyone else that's bought in at 22-23p.

This is copl, many thought CUDA finance would be sorted from our existing finances, I got shouted down for suggesting we'd need to do a raise or something similar!

Expect the Convertible bonds to be nothing but a constant drag on the SP for next couple of years now....

Been watching CLON for a while after having sold out a while back at 0.07.

Just one small sell today, sells having virtually dried up. This is definitely in the buy zone now with news due on potentially a few fronts...

Back to 15p I think

"two series of convertible bonds with an aggregate principal amount of US$25.2 million (the "Principal Amount"): $12.6 million maturing in 2024 and $12.6 million maturing in 2025 (collectively, the "Convertible")."

Oh dear.
Art certainly knows how to do deals but kill the SP at the same time....

I didn't watch the presentation BUT considering the huge debt facility they have in place I would have been a lot more comfortable hearing the words like, "WE HAVE NO PLANS FOR A PLACING FOR THE FORSEABLE FUTURE" or something like that as opposed to "NO IMMINENT PLACING PLANNED" which doesn't exactly confirm that there won't be a placing in the not too distant future

EU recommends Ireland cut gas consumption ahead of winter supply concerns
Gas is Ireland's second biggest energy source

BY CATHAL RYAN
16:04, 20 JUL 2022

The European Commission has urged Ireland and other EU countries to reduce their natural gas consumption by 15 per cent throughout the coming months to ensure winter stocks remain.

In a nutshell
The announcement comes as Europe races to build a supply buffer of natural gas amid growing concerns Russia may cut its gas exports to the continent as a result of sanctions following its invasion of Ukraine.

Watch as more and more contracts roll in

Watch as we get an update on Islandmagee

Hold tight imo ;))))

They don't need a raise - they have the previously announced debt facility to tap into should they need it.

Yet another note worthy contract within days of the MOD one - looks like the sign of things to come. So the investment in all the new machinery looks like it's about to start paying off :)))

Irish Examiner
EU prepares to face gas shortage

SUN, 17 JUL, 2022 - 17:32
CÁIT CADEN

"The European Commission is expected to publish a document this week telling member states to “save gas for a safe winter”, it has been reported."

"The Commission’s plea to heavily cut gas consumption suggests the EU will face a supply shortage towards the end of this year."

LOL - Candles at the ready for the flurry of blackouts this winter....

"What a week it’s been, with the fantastic award of M55 at £55m, further ships heading to the drydocks and being on the cusp of new shipbuilding contracts.

More significantly however this week and surpassing everything else that’s going on is the progress that we’re making with the long term plans for the Islandmagee gas storable project - onwards and upwards!!"

From what JW was quoted as saying on LinkedIn Fri afternoon, he's basically suggesting that whatever progress they've made last week with the Islandmagee gas storage, it's actually more significant than the £55M MOD contract ?!

Hmmm interesting....

A crisis that could have been made MUCH more manageable if they had Gas Storage in place right now.

Isn't hindsight a wonderful thing hey you nimbys out there that think they know better. Probably the same people who spend 60-80k on a brand new electric car, thinking they are saving the planet when, in actual fact they are using gas (a fossil fuel) to keep it charged (gas 66% electricity generation today) plus the fact the carbon footprint impact of making an electric car is equivalent to making 3 normal cars!

Corrib gas field may only last another decade
22 JUNE 2022
"THE CEO of one of Ireland’s leading oil and gas exploration companies has said that Corrib gas terminal could close within the next ten years.
Speaking exclusively to The Mayo News, Petrel Resources CEO David Horgan said that government policy restricting oil and gas exploration could lead to Corrib closing within a decade."
"Mr Horgan said government policy has ‘effectively killed all new exploration’ in oil and gas."
“The net result is that Corrib will decline as a gas field and it will be eventually shut in over the next ten years or so and the pipeline excavated and retired"

14/07/2022 | 13:55 PM
BY LUKE O'REILLY, PA

"Russia switching off the supply of natural gas to Europe presents a “severe” risk to Ireland, Minister for Finance Paschal Donohoe has said."

"Speaking to the budgetary oversight committee, Mr Donohoe said the “global economic shock” caused by Russia’s invasion of Ukraine has “rapidly” changed the Republic’s economic context."

FRI, 15 JUL, 2022 - 10:25
EMMA TAGGART
Social share
"Ireland's gas demand rose by 11% in June compared to the same month last year, according to figures released by Gas Networks Ireland."

"Over the course of the month gas produced 57% of Ireland’s electricity demand, an increase of 3% from both May 2022 and June 2021."

"During the month there were times when gas generated nearly 90% of Ireland's electricity. This peaked at 86% and never fell under 15%."

EIR GRID DASHBOARD
17 JULY 2022, 10:00
SYSTEM DEMAND: 4043 MW
WIND GENERATION: 706 MW
Fuel Mix, GAS (66.01% Electricity Generation)

For years Ireland has been warned about the looming situation of lack of security of supply but, thanks to the govt pandering to the green activists, dithering on important decisions and burying their head in the sand we get to witness just how vulnerable Ireland in particular is to the current crisis.
A crisis that could have been made MUCH more manageable if they had

It could be that there is an update to come re the long awaited FID for Islandmagee, which has been mentioned before that the JR does not stop this being concluded. Would certainly be a major milestone if this were the case.

JW you are indeed a tease!

Imagine on top of the latest contract this week and other's in the pipeline if we got something positive to land re Islandmagee.

RNS next week perhaps? ;))

And remember last time? When the £26M Saipem contract was announced we had a placing straight after in part for working capital purposes but also for the performance bond money which had to be found upfront given their lack of track record on contracts of that size.
In the MOD contract award it says:

"Under the terms of the contract, no performance bonds will be required to be issued and an acceptable milestone payment plan has been agreed for the lifecycle of the programme."

With the $70M Green corporate debt facility in place since March, for once, I can say a raise is not on the cards...

Nice to see for once especially here. Not necessarily news but perhaps some seeing that it has fallen so far and think it's worth a punt?

Sometimes there can be a 3-4 day delay from really good news landing to the SP reacting the way we expect. It will happen but the markets are quite volatile atm for obvious reasons.

Many of you will know how critical I've been of Harl over the last 12 months and for good reason.
BUT, for once I actually agree with JW that the £55M MOD contract is a watershed moment ( fat bonuses to one side cough cough ) :))
Bab**** and BAE up to now have been taking the lions share of MOD work but Harl has just become the underdog here - at a time when Russia potentially poses a global threat as it tries to dangerously flex it's muscles without any regard for innocent lives and without any regard for international law.
With defence spending to potentially increase to 2.5-3%, with credibility restored, multiple contracts of value in renewables potentially in the pipeline, the need to replace an ageing fleet of vessels as well as being in the running for the £250M Royal Yacht contract, yesterday marks the turning point and the beginning of substantial contract awards to start filtering through.
The weighted pipeline of projects last time we were told was in the region of £1.8Bn if I'm not mistaken? So like I said yesterday credit where credit is due! Zak commented on Harl earlier, looks like 18p+ should soon be support with significant potential for the SP to go much higher looking at the huge gaps on the chart....