Member Info for Nobby31

Pokerchips
time is of the essence here ......

The market cap is just shy of £24 million after this mini tumble.
As we are all somewhat in the dark and know little to nothing about whether we are truly likely to win significant new contracts it is not surprising that some investors have decided to give up and go elsewhere.

Whoever wanted to sabotage the company is winning as the company is not providing the seller with any indication that they are doing the wrong thing. With HARL it seems that no news is bad news and the information vacuum is harming us. They don't understand PR and how to manage shareholder relationships; the yard visits are a good idea but they alone are not going to turn things around. Feeling rightly fed up

I think BlairPeach is the architect of all this. It’s a plan to get rid of us nuisance PIs for good whilst they all trouser a big wedge at our expense. Usual MO

Would be surprised to see a bid to take the company private for a low SP & cash injection

Horror show and no comments from BOD ?

thank you TTNY. I live in hope of jam tomorrow (morning).
something good has to happen soon just by the law of averages?
I mean how much more disappointment and delay can one Board throw at you. I do think COVID is a fair reason for delays but the obfuscation and lack of communication i.e. the reason they don't provide updates is because they have been lambasted for errors and misstatements made in the past so they've gone in their shells. In my opinion that is due to having an inexperienced PR department not effectively vetting RNS's etc.
So time for some good news then? What's coming soon .... debt facility, ferry contracts, Scillonian, Saipem Phase 2, Ark Royal maintenance, MOD work, oil and gas jobs, major ship overhaul, FID or a confirmed farm-out or sale (hopefully partial) of IMSL .... anymore to add to this list (I think there are about 100 in total).
flippin' heck do get on with it please ..... it can't be that tricky. They've had 2 years and 4 months or thereabouts since H&W acquisition and no major wins for Belfast. A trickle of paint jobs and barnacle removal from prop shafts isn't going to wash especially for the iis.
New chairman, new NED, new institutional investors ..... sensible share options and not big cash awards.
Hey we all work hard but if you don't deliver you should not expect to be in the gravy ; its not supposed to work like that but then I forget this is AIM.
I'll shut up now. C'mon HARL bring it home please, with sauce on

They never bought a material number of shares as they understood there would be multiple dilutions. Share options cost them less as if not exercised due to expiring as worthless then no cash from the trouser pockets. Should have seen that myself but I believed contracts were going to be delivered about a year ago. Just added too many too soon so no one else to blame as this in all probability will come good …. and we will see some jam eventually

Read “Unsettled”to understand the context of human forcing vs natural forcings. If you are serious about wanting to understand the science, assumptions and modelling relating to the climate then this book provides you with a good place to start learning if you can be bothered

I think the biggest issues are the cash burn rate (they seem to be recruiting with no guarantee of the large contracts we need) and the lack of information in the form of operational updates being provided to the shareholders that have funded this operation to date. No doubt they are all working hard and no doubt we are all worried mainly because of the lack of communications from the company so I suggest we each request an update in solo and choral terms.

One of the interesting aspect associated with the creation of the caverns is how they are decommissioned once at the end of their useful life. The lease documents from the Crown Estate should deal with how this happens which I think requires them to be filled with seawater.
Also cavern creep will occur after leaching out the saliferous beds (and associated non-soluble strata which drop to the bottom of the cavern during the leaching process) meaning the volumetric(s) and geometry of individual caverns could be quite different as they won't be the same shape.
The case for environmental damage especially to marine life has (of course) been magnified out of all sensible and reasonable proportions by those not wishing the project to proceed. However any macro study of cavern leaching and discharge impacts on the local environments ably demonstrates minimal and only ephemeral impacts on the benthic community. I'm prepared to bet the puffins and porpoises will be completely unaffected.

https://timera-energy.com/impact-of-extreme-volatility-on-energy-trading-businesses/

Thanks Lottie.
There always seems to be a seller!
If someone was building a large position then by now they’d had to have issued a TR1?
I think there could be a seller at any price but I also think the market makers at Cenkos are involved. Difficult to prove but there is little doubt as pointed out about individuals acting ahead of inside information prior to a placing. The Board ought to consider this and investigate it further not least as it is not a one-off occurrence. When you are made “inside” on privileged information you cannot trade however these actions are from those who are given tips by those inside. It’s a disgraceful state of affairs and has lead to many investors having their confidence in the company further dented.
I’m so fed up waiting for news on material new business. It’s been a long time since the various yards were acquired and the millions of pounds of shareholder funds ought to have been turned into new business. COVID is a genuine reason for the delays but now we are beating it back we must expect the Board to deliver a few decent contract wins as the SP needs a big boost. C’mon HARL !

Given your markets experience what do you think could be the possible reason(s) for this Lottie? I have always thought someone big has got it in for us but that's just my conspiracy theory

I am hopeful that we can look forward to a rising SP this year. If and when JW announces the outcome of the negotiations with the finance houses and that we have a debt/credit facility in place that will provide confidence to investors. if we don't get that we should all be worried.

Si, beats me I thought they were taking on apprentices and experienced staff to do this sort of work but I am not sure. Either way a good offer to buy one of the yards for cash would still be worth looking at

Given the billions being spent in the next decade or so on these new generation of turbines if I had just won one of these licences I'd be looking to actually buy a yard so I could control the output and work myself. This could de risk the capacity issue and also protect the schedule as well as other financial benefits (not paying high rates as capacity will likely be short). Let's hope if HARL get a good offer for Anish or Methil that we get to hear about it?!

I’m afraid there is a simple explanation for that which is they well understood that there would need to be a series of placings to move the yards towards operational capability; call it inside information if you like.
A sure sign of the positive prospects for HARL would be a meaningful purchase or series of purchase by the key executives. This would likely engender belief that we will win some key business in the near term.
It does not wash with me that they are nearly always in closed periods; there are in fact numerous opportunities during the year to allow them to dip into the pockets we have helped fill.
Consequently I don’t think it unreasonable at these low prices to request they each purchase at least 200,000 each as that approximates to about 3% of their recently published total earnings.
Walk the talk

I wish for ;
1. The debt facility announced. No more dilution now all yards are stated to be operational let’s operate (!) show us the contracts - no more prevarication
2. Realise value from IMSL in H1 no later
3. Change the Board. Give me a functioning, influential, respected Chairman and another independent NED. Not later …. now.
4. Deliver us the contracts, meaningful value multi year and nit requiring a raise to service performance bonds.
5. Watch costs like a hawk. No further recruitment and empire building without new business signed and sealed first.
6. Corporate communications. It’s our Company so tell us what’s going on. We are the ones taking the big risks so treat us fairly and respectfully as shareholders.

I expect the FEED is being reworked to enable the caverns and above ground facilities to be methane and hydrogen compliant. Although why HARL needs to do this when they will not be building it (imo) is unknown.
The project is sufficiently advanced for a farm out or asset sale via a bidding process; there are several interested parties. I just hope that the Board do not delay and think it’s going to add value by gilding the lily. Shell, BP,Macquarie even INEOS can build this; they have the project management expertise and we certainly do not and should not.
Also a large industry player can better address regulatory issues, finance, SNIP reverse flow and Bord Gaia far more effectively.
We should certainly not wait for jam tomorrow on this project not least as it’s been a long time in the oven