PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Sorry it’s behind a pay wall, but it basically said we need a network of 900 caves if we want to keep the lights on
https://www.telegraph.co.uk/business/2023/09/08/build-hydrogen-caves-or-risk-blackouts-britain-warned/
Tricky
If you don’t think we require gas storage for the future given our relationship with Russia, I suspect you may be an ostrich ( in relation to your dinosaur quote). Given our scheme also allows for hydrogen as well it does make your environmental dinosaur comment even more strange.
Anyway, I didn’t sell today as I understand that the short term future of H&W is in ship building and renewables, and we have £100m of business already booked for the next 6 years.
The gas caverns are a longer term opportunity.
I can’t pretend to understand anything about the politics of Northern Ireland, except it’s absolutely no surprise that all of Edwin Poot’s rivals are against absolutely everything he does, so the fact they’re all engaged in the petition is not unexpected.
It was the fact that the group was already loaded with debt, and £70 million spend on Belfast was required with no idea where it was coming from - the suspicion being a dilution.
Since then the cash flow has improved greatly, there is a financial facility in place, at a high rate, with the promise of an improved rate when we secure government grants ( and obviously the higher turnover helps).
There is no doubt in my mind the improvement in the share price is that IM either clears a huge chunk of debt ( he’s already had 3 low ball offers for it), or it provides another huge long term asset to leverage against.
A negative judicial review doesn’t devalue the asset, it just delays the timescale, which is what JW said on proactive. There may be one or two items that need to be reviewed and fixed in the application was I think how he phrased it. Fingers crossed it gets through first time, but long term, the asset is still worth the same!
It will be interesting to see a quote from the Scilly Islands company to see if this is a rival bid to theirs or with them. I understand the island councils weren’t happy about the unilateral decision to increase passenger and freight costs to the islands.
Remember we already know that the levelling up funding is £42 million and the timescale is by early 2025. We presumably forego the profit margin to run the service ( for profit) over 5 years + 5 years extension if targets met
How can anyone tell it’s 87%. That figure is all categories and at all stages of the JR process, and we can easily be in the 13% anyway. Synairgen was supposed to be a similar level based on stage 3 trials and look how that ended
Let’s not hype this up.
IM is the icing on the cake not the big picture
Love this post!
Lest we forget that JW was involved in the writing of the Ship Building strategy, so he bought H&W , then he was exposed to the £15billion offshore opportunities so bought Arnish and Methil.
Let’s remember that’s there are port infrastructure subsidies , export subsidies, levelling up subsidies!!
IM would be a blip next week, but is in fact a cherry on a huge cake
Went to 26p on FSS!
IM is all about a route out of debt- I know Stokey wants the long term value, but JW wouldn’t have mentioned getting multiple undervalued offers and valuing the project at current stage at £100m.
Any clues why the directors share price bonus for September is 36p ( maybe 38p cant remember). Could it be we clear half our debt, and get a decent rate for the rest, and have a cash reserve
Clearly the forward order book is compelling, but he has been working on restructuring the debt for a while which is why the company value is where it is at the moment. Sort the debt out and the share price Probably goes to 45p in 2024 and who knows where in 2025 when we’re making £100 m profit per year
This was my point last night, the share price has never assigned any value to IM, therefore theoretically the share price shouldn’t be negatively affected by a negative outcome of the JR, however we all know that Aim never works like that!!
All I’d say is if it does cause a big dip, fill your boots!!