focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
The key message yesterday was that 100% of the loan will be underwritten . That means that the combination of assets and future contracts satisfied the auditors that H&W is a safe bet. As all of the assets would be put up to the bank as surety, the bank would prefer the asset as they have a claim on that, the cash would be lost in any liquidation which forced the bank to claim the assets
Broomtree and Stokey
The RNS on 30th November is named Trading Statement. I think that’s probably the clue!
Have I missed where they said they’d give a scheduled update to the shareholders of all of the sites by the end of the year? I think this is something you have talked yourselves into expecting
The statement on 30th November is a trading statement. It updates the market that there may be a £20 million discrepancy due to auditing practices and that 2024 is as previously advised
Stokey, why would JW delay a second longer than required? The delay will be the Civil Servants checking the due diligence.
Changing ministers will stop nothing, they’re just the figure head , the work, sign off and execution is all done by the Civil Servants who will remain in place, even if the government changes.
The one thing I agree with on timing, which is on the government, is that they will want to give the DUP a big shiny PR opportunity when the Power sharing agreement re-commences, as nothing shows the power of the Union better than a big financial leg up to what could be one of Belfasts biggest future employers
Just to add that at £90m borrowing, our debt was costing us £14.5m ( if it was at 15%), at Sonia +2% that would be £7.25m, straight to the bottom line
Got to be worth a few pence on the share price- even with a bit of risk built in
Last Dec30th, share price 16p after last minute trading update, turnover only £28m. IM judicial review still to be heard
This year, turnover £80-£100m, next year turnover £200m with 75% already booked, The Judicial review found for us on every point, and we just heard that the UKEF approval has gone through. Share price struggling to break 13p. Just got to love AIM
Sorry Beancounting, no matter how hard you try, these are going to 16 today, hope you get out of your short without too much pain this morning
This announcement says that we are through the auditing and due diligence stage and can now arrange a loan at around half the current rate.
Can’t help but wonder if this is the delay from the government perspective. A big award of money for potentially one of Belfast’s biggest employers and exporters would be a nice way to kick the new power sharing agreement off
https://www.irishnews.com/news/northern-ireland/stormont-moment-of-truth-in-dup-negotiations-ZMBBW6ULL5IQ3ARJ7U772NACOA/
Bubble,
If Chris had gone back further with his posts on this topic you’d have seen one where we had to go through an audit with UKEF. It’s a long process.
As a taxpayer I’m happy about this, as a shareholder, not so much!!
The opportunities keep coming! There’s only so much capacity!!
£11bn plan to build huge offshore wind farms in 2025
https://www.thetimes.co.uk/article/be03f5a7-4913-462d-a17d-1abcaeaed8d4?shareToken=143f35dc36cb2241e04ef88a35edfe69