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Now we're back on course and IMO a future valuation (maybe 3 years) would be fair at 50p plus !
Mind you that 20p estimate of worth was when 15 caverns were briefly on the cards.....then it was realised that the marine licence was only submitted for eight.....then a bit of cafuffle and the chairman left!
20p was the figure banded about in presentation December 2018......and that was without the FSRU and the current purchase !
Well said Dawski...........the potential upside of this share is virtually limitless medium to long term......and IMO all we have to contend with is the passage of time.
By year end INFA will already be transformed and in a couple of years I think it will have morphed into a behemoth.
Not trying to be awkward but here is an anomaly to consider.
From the 1st October RNS
‘Invest NI has advised the Company of numerous forms of support by way of loans and grants that are available for the Facility post Acquisition and management will look to take advantage of these in the future.’
‘The number of employees at the Islandmagee Gas Storage Project will also scale to 400 during construction and will employ circa 60 personnel when in operation.’
From Invest NI website
….’Aimed at ambitious SMEs (Small Medium Enterprises) whose growth is constrained by a lack of traditional finance, Invest NI provide a range of funding solutions under the banner of ‘Access to Finance’. Totalling almost £200m, there are seven funds spanning a deal size range of £10k to £3m and offering support to SMEs across both debt and equity markets.
From The House of Commons Library Standard Note SN/EP/6098
Micro business =1-9 employees
Small business = 10-49 employees
Medium business = 50-249 employees
Also, according to the EU, definition of an SME is a business with fewer than 250 employees, and a turnover of less than €50 million.
From the 1st October RNS
‘The number of employees at the Islandmagee Gas Storage Project will also scale to 400 during construction and will employ circa 60 personnel when in operation.’
This seems to imply that, contrary to what was said in the RNS, we will not be eligible for any grants from Invest NI because the company will have over 249 employees. Or do you think the ‘dockyard’ may be listed as a separate enterprise?
Hope there will be a way around this…..any thoughts?
Agree....finance is the only game in town now.......and on news SP will surely fly.
Also, because the Belfast shipyard resurrection is such good news for the NI and indeed the UK Governments at a time when they are absolutely desperate for a feelgood story........I wouldn't be surprised if we have some financial bung from Boris (if we're cheeky enough to ask) to enable us to keep even more otherwise lost souls gainfully employed in strengthening the development of UK strategic infrastructure, thereby helping in a significant way to prove Brexit to be a resounding success story, showing the remoaner's project fear to be utter hogwash!
Come on Boris....... do this and I promise you will go to the top of my Christmas card list! ! .....................lol!
BRITAIN is just 10 days from what could be the first freeze of the season amid warnings this winter could be one of the coldest and snowiest for almost 70 years.
https://www.express.co.uk/news/weather/1186627/uk-weather-forecast-snow-met-office-weather-warning-long-range-bbc-weather
.........Happy days!
post 2 of 2.
...'The AMC is rapidly becoming a major marine support and oil and gas fabrication cluster in the region," Mr O'Hare said.
BAE Systems’ site is located directly alongside the AMC’s Common User Facility with its State Government funded common use infrastructure.
It has direct waterfront access, a construction and prefabrication hall with a combined capacity of more than 7,000 square metres, and approximately 10 hectares of lay down space.'
Absolutely superb !...JW going down a path he has trodden before........the bloke is a genius !!
GLA !!!
From Spud's link..
'Australian Facility Upgrade to Support Oil and Gas Market Expansion
7 Aug 2011
HENDERSON, Western Australia - BAE Systems will upgrade its waterfront facilities in Western Australia to deliver new services supporting Australia’s offshore oil and gas operations.
The company will invest more than AUD $8 million in its Henderson, WA, facility. Phase one of the upgrade will facilitate an increased range of commercial vessel support and offshore fabrication opportunities.
The expansion was announced today during the 2011 Offshore Europe exhibition in Aberdeen, Scotland.
BAE Systems Australia’s Maritime Oil & Gas General Manager John Wood said the company already provided services to the oil and gas sectors from several international sites, including the USA.
“Our entry into the Australian market therefore represents a logical extension of our global capability.
“During the past decade, the company has produced more than 100,000 tonnes of complex steel structures in Australia primarily in the naval sector and we are keen to transfer this expertise to clients in the oil and gas sectors.”
New works to be undertaken at Henderson include extension of rail lines, upgrading the main construction shed to include a new blast and paint area, refurbishing of the vessel turntable, yard sealing and a new office complex.
When complete, the 14.5hectare site will be capable of simultaneously handling a larger volume of vessels concurrently, and some of the largest and most specialised structures and modules in use in the oil and gas market now and in the future.
Mr Wood said the company would target fabrication opportunities including subsea structures, pipe spools, manifolds, risers and modularised processing facilities.
“We are also keen to expand our ability to maintain and modify a range of offshore support vessels such as supply and drill ships, and construction barges.”
The Henderson facility already possesses the largest Ship Lift in Western Australia, capable of lifting and transporting structures in excess of 8,000 tonnes.
Western Australian Department of Commerce General Manager, Marine, Defence, Oil and Gas, John O'Hare welcomed the announcement as a major vote of confidence in Western Australia's strategic position in oil and gas services.
"BAE Systems expansion is an endorsement of the State's decision to form a cluster of significant marine, defence and resources fabrication and support industries at the Australian Marine Complex (AMC) supported by State government investment in common use infrastructure.
The AMC is rapidly becoming a major marine support and oil and gas fabrication cluster in the region," Mr O'Hare said.
BAE Systems’ site is located directly alongside the AMC’s Common User Facility with its State Government funded common use infrastructure.
to be continued
Both articles make good reading. Great strategy....safe pair of hands...all systems go from this point!
That's our Johnny.
SP will go into orbit when equity/debt funding details released, once Stormont has kick started marine licence process and the good ship INFA sets sail from Belfast docks with three sheets to the strong wind !
Hope so Mr. T
The news overall is brilliant.....I just found that bit a little unsettling. But even if the rate IS sh*te we are still picking it up for a song.....and as you say oodles of local and government goodwill which is priceless !!
Despite the company’s £7m market capitalisation, comparable in size to the deal itself, he said that he did not anticipate significant equity dilution from funding the takeover. The news was welcomed by Julian Smith, Northern Ireland secretary in the UK government. “I firmly believe that the shipyard has a promising future and that InfraStrata’s plans present an exciting opportunity for both Belfast and Northern Ireland’s manufacturing and energy sectors,” he said. The rescue comes after the collapse of another well-known Northern Irish manufacturer — bus-builder Wrightbus, which entered administration last week with the loss of 1,200 jobs.
Don’t like this bit at all……….’ The majority of the remainder offered in the agreement comes at an undetermined interest rate, chosen by the lenders. Mr Wood described these terms as “unfavourable”.’
That bit doesn't sound brilliant!......in fact it stinks.
Financial Times
Titanic builder Harland and Wolff thrown lifeline in £6m deal UK energy infrastructure group InfraStrata agrees deal to buy shipyard from administrators The frigate deal throws a potential lifeline to Belfast’s Harland and Wolff © Paul McErlane/Reuters Share on Twitter (opens new window) Share on Facebook (opens new window) Share on LinkedIn (opens new window) Save Arthur Beesley in Dublin and Archie Hall in London YESTERDAYPrint this page14 Harland and Wolff, the Belfast shipyard that built the Titanic, has been saved from collapse after UK energy infrastructure group InfraStrata agreed a £6m deal to buy the struggling business from administrators. InfraStrata said the agreement would save the jobs of the remaining 79 Harland and Wolff workers who did not opt for voluntary redundancy earlier this year. In a statement on Tuesday, InfraStrata said it planned to increase the size of the workforce “by several hundred over the next five years”. Harland and Wolff employed 123 when it entered administration in August, casting doubt over a business that traces its roots back to 1861 and whose two yellow cranes, Samson and Goliath, dominate the Belfast skyline. The shipyard, which once provided work for 35,000, had struggled to win business in recent years. InfraStrata’s sole major current project is a planned gas storage plant at Islandmagee, Co Antrim. The company plans to use Harland and Wolff’s personnel and fabrication facilities to build steelwork, pipelines and structural equipment for the plant. It estimates that bringing this work in-house cuts costs by 15 per cent, more than the expense of acquiring Harland and Wolff. John Wood, chief of InfraStrata, said Harland and Wolff was a landmark asset. “While our core priority will be to deliver our flagship project in Islandmagee, we believe there are opportunities to welcome potential new clients due to the diverse skill set at the facility.” InfraStrata has put down a £500,000 deposit for Harland and Wolff, and plans to pay the remaining £5.5m in two tranches, concluding in April 2020. In the infrastructure group’s most recent annual report, released in January, it generated no cash and its auditor raised concerns about its ability to continue functioning without external funding. To cover the Harland and Wolff deal, InfraStrata has secured a £2.2m loan agreement, from which it has withdrawn £700,000 for the initial deposit. The majority of the remainder offered in the agreement comes at an undetermined interest rate, chosen by the lenders. Mr Wood described these terms as “unfavourable”. He noted that InfraStrata had “two compelling different offers on the table, two more still being negotiated”, and that the company had secured a €1.6m grant from the EU. Recommended UK manufacturing Northern Ireland’s Wrightbus collapses The acquisition will eventually be funded with a mixture of debt and equity, skewed towards debt, according to Mr Wood.
Whoops....Mr T.......I must have had a mega senior moment!
I couldn't remember seeing those last two items............Snowblindness !
I plead insanity.
GSA details and equity/debt funding details please.
The only possible logical reason I can think of ad to why equity/debt funding not included in the milestones is another left_field bombshell that it is actually going to be all in one with the offtake and VITOL doing the lot...if that's the case SP will go straight to 3p plus.
What other scenario fits for equity/debt funding to be left out of milestones....has to come before FID which is on the list.
Comments eagerly anticipàted.
Lot of sells...big buy order?
SP probably shoot up at close.
At 10p...lol!!
Islandmagee and fsru projects both have potential of 65 Million revenue per annum each.
Lifetime project revenue 2.5 Billion each..
This share is just going on a very very long climb.
GLA !
Nice steady climb...shouldn' look back now. A peep at the draft GSA would have been nice though!