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That's what happens to big heads who don't put in the effort.

All too common in British industry and commerce.

Stoney63, it is certainly 'fishy', that is for sure. It seems as though someone wanted FBS to get out of the way.

I am assuming Navitas and FIG will have to bring in some contractor(s) with the right skills, which FBS probably didn't have anyway, to get things done.

It could be a blessing, because FBS were never going to be able to provide the sort of construction capabilities needed in the timescales GT and his gang would expect / demand.

I consider the FBS collapse as being a bonus at just the right time, although it does look a bit fishy that such a long standing company goes breasts upwards at the very time it ought to be about to make more profit than possibly the total of all its profits over the last 173 years.

FBS is part of the Falkland Island Company (FIC), which is a division of FIH Group. FIH Group used to be known as Falkland Island Holdings and was renamed FIH Group in September 2016:

"The group changed its name to FIH Group plc to more properly reflect the balance of the group's activities which are now predominantly in Europe and the UK. Despite this change of name, the group's Falklands business, the Falklands Islands Company ("FIC"), remains a core part of the Group".

"The Falkland Islands Company (FIC) was incorporated in 1851 and received its Royal Charter on 10 January 1852. Established with an authorised capital of £100,000 its purpose was to engage in agricultural and general trading activities including establishing a shipping link with the UK".

On 19/12/24, FIH announced that FBS had made a £6M loss over the 6 month period, ending 30/9/24. From what I can gather, the management team walked out and FIH has been struggling to keep the show on the road.

If I were Gideon Tadmor, I would be concerned that the main building contractor on the FI (for both FIG and MoD) had suddenly gone breasts upwards, with all the infrastructure that needs to be constructed.

If Navitas staff are in the FI about such things, perhaps it has something to do with the sudden and unexpected collapse of FBS?

Grimuphere, I think you will find that Sam Moody is at his post and very much alert to what is going on.

I agree. My strategy is that I have now built up my core RKH holding within an ISA, so no CGT. That core holding is absolutely inviolate (a sort of dark purply blue colour).

Then I have, in the same ISA, some other RKH trading shares (they are all in the same account), with which I can try and make a few extra bob trading the rises and retracements, which isn't as easy as the clever Dicks would like you to think. You are unlikely to get the top and the bottom exactly right, so don't worry about that, but you can almost certainly make some good little profits from the fluctuations, if you aren't too greedy. As these are also in the ISA, no CGT to worry about, especially now the annual allowance is so little.

This part can be rather exhilarating, but like I say, don't get greedy, otherwise you could make mistakes.

BloodBird, when I read your prediction, even as an optimist, I thought you were overdoing it, but so far you’ve been spot on.

Brilliant

https://www.youtube.com/watch?v=ZMvjNlIiDp4

Thanks Daikihaku, that really seems to work and I love the way the annoying ad was vapourised to oblivion.

Ah! In that case a bit longer to wait then.

I wonder what the ad hoc committee can claim on expenses and they have promised themselves one final visit to that rather nice restaurant before wrapping this one up?

If it's anything like the Navitas website, it'll be out of date.

Perhaps the claim is only closed once the parties have been told the decision. Who knows?

It can't be very long now. Didn't we all think that in about 2020 and look what's happened since then.

Most of us are probably on the edge of our seats awaiting the OM award annulment decision.

Although we are likely to find out via RNS when RKH has received the funds (or not), after the various parties involved have been notified first, the announcement could be made at any time of the day.

Just because there hasn't been a 7am RNS announcement does not necessarily mean that is it for the day.

Tractorboy, I'm assuming this is just an average, to be expected and reassuringly normal 'tree shake'.

If the sp rose every day, without any particular reason / announcement, that might initially be exhilarating, but might quickly become rather scary - 'what the hell is going on' type situation.

As some here are rightly saying, it's shaking out some of the lightweights, nervous, T+2 traders who either have to commit, or take their money off the table.

Many may have been hoping for the inevitable OM RNS announcement this morning, but when it didn't materialise, took their money off the table.

Has anyone ever seen 'The Table'? Is it the same one that negotiators use? Where is it? What's it made of?

I reckon it's a knackered old thing covered in Fablon (bet that brings back memories).

Any thoughts on Trump's confirmation that he intends the US oil industry to 'Drill Baby Drill'?

What might that do to the price of oil, the potential valuation of FI oil reserves, etc.

Assuming such action might be confined only to the next 4 years, but what after that, when SL should be well in production?

Are there any positives - the price of oil falls, making it more attractive than switching to renewables?

LTT, I too hate to be a contrarian, but as long as there are factors outside RKH's control, then the answer has to be NO.

I am sure NVPT are doing and will do everything possible to get to SL FID ASAP, as no doubt will FIG.

As far as RKH is concerned, then the answer probably is YES.

But it only needs a wheel to fall off, or a puncture, to slow everything down. Who would have predicted the fatal shipyard accident in S Korea, when everything for Shenandoah was going so well, and the impact that had on that critical path?

RKH sold the award. Assuming the annulment request is thrown out, the bad news is that RKH won't receive the full Arbitration Award plus interest - that will be for the new owner to extract from RoI, probably having to resort to enforcement by seizing Italian assets to the value of the award.

The good news, in that case, is that RKH will immediately receive another €65M, without any enforcement action to worry about, having already received €19M of the first payment in June 2024 (the rest was used to pay the Original Arbitration Funder's bills).

There is also the possibility of a further payment, depending on how much the new Arbitration Award owner manages to extract rom RoI.

In a word ‘NO’, but certainly it probably sorts all known issues for RKH, including what must have been a massive distraction for Sam and the RKH Board, particularly with only 9 employees in Salisbury.

But for FID, Shenandoah has to be producing oil and perhaps more important, money.

So that €65M is very important, but not necessarily the answer to everything.

Alma - I'm sure I heard you singing 'Dreamboat' on the Light Programme earlier today?

Without any doubt and more once SL is in production and then on to Isobel/Elaine complex etc., but that's quite a way off.

For the time being, nudging 40p by 17/1/25 is more than even I expected and I'm accused of being over optimistic.

Ripley, aren't you a clever boy. We're all so impressed.