The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Thanks Lisa D for the advice.......hindsight can be very cruel.
Let's just imagine the potential impact if the Norwegian gas pipelines are sabotaged also......
Si. Surely you don't mean something fishy as in:
1)JW's numerous false forecasts of Islandmagee FID?
2) JW's numerous statements of Islandmagee "shovel readiness".
3) JW's "forgetting" to inform his shareholders of the Marine license/conditions not met/consultation requirements and consequent delays.
4) H&W purchase to support construction/reduce costs of Islandmagee???
5) JW hiring his relatives fishing trawler to be used as a scientific marine research vessel at excessive cost?
I could go on with several other examples, but NO, NOTHING FISHY GOING ON HERE!
Today up 17% and no news or posts? Hmmm......
It's been a while since I last checked in here (out of curiosity).
After years of JW's false promises I sold out in the 13's. I was truly gutted at that time and disgusted at my 30K loss and JW's deception of the LTH's. However, looking at the present SP, at least I can console myself it could have been worse if I'd stayed in. It seems Harl's only trajectory is downward. Instead of building ships they resemble more a sinking one!
BP. Is that you finally selling your 60k shares this morning, putting your money where your mouth is?
Interesting radio commentary from an industry analyst:
https://www.abc.net.au/radionational/programs/saturdayextra/timor-leste-woodside-gas-deal/101399742
It seems TL's recent gestures toward working with China has now forced Woodside to change their tune. This is the first time I'm hearing one of their exec's saying they are open to other options (besides pumping gas to Darwin).
Surely these comments amid the Foreign Ministers TL visit tomorrow can't be a coincidence. Crunch point ahead.....
https://thewest.com.au/news/gascoyne/woodside-energy-dips-into-cash-pile-to-return-bumper-dividend-to-shareholders-c-8051539
https://www.afr.com/policy/foreign-affairs/wong-to-push-east-timor-woodside-gas-deal-20220825-p5bcpn
The tussle between Chinese and Australian influence will soon be coming to a head IMHO.
From the article: Woodside will release its half-year profit results on Tuesday and is expected to update the market and media on its thinking on the Greater Sunrise project.
Lottie. Further to my previous post, just look at the astounding throughput of ships from the same shipyard since it was taken over in 2019. Let's be realistic here, with all these European ordered ferries what chance does HARL have in shipbuilding besides scraps for UK MOD work?
https://www.niferry.co.uk/tag/avic-weihai-shipyard-co/
Lottie. I admire your wishful thinking: Whilst this process will take time to unravel, it is clear that an opportunity to reverse the fortunes of British yards will materialise.............YOU MAY WELL BE RIGHT, BUT NO TIME SOON ENOUGH TO AFFECT THE FORTUNES OF HARL.
Perhaps when the fortunes of China and UK have reversed, i.e. they are rich and we are poor, we will be making their ships! Yes, your right - 2070! By then HARL's share issue might well be in the trillions and the LTH's children will be still waiting to recupe their parents huge diluted losses!
From 2010 I actually spent 5 years running a production in Weihai, China, where they have a large modern shipyard which built the recent E-flexers for Stena. The city of 300,000 people was a thriving hub of activity in my time there. I passed through again 5 years after leaving - it had transformed into new city! Where in the UK is that dynamism happening? The billion or so workers of China have constant hunger for a better life and are determined to acheive it. The government does all it can to provide for that workforce. It's just not the same mindset here.
From the article not even this 'productive' shipyard, IN CHINA, can maintain business......what hope for HARL?
https://www.seatrade-maritime.com/shipbuilding-shipyards/avic-hands-over-weihai-shipyard-china-merchants
Pokerchips. Within a year or two the EXPECTED overheads are to reach a record 100M. One can only hope the company can deliver more than revenue expectation.....or is that what JW terms revenue aspiration?
Chrisatrdg. I was expecting to see a bunch of enthusiastic apprentices. I wonder why youngbloods shy away from these trades?
I'm glad to see our ever so hard working Chairman has finally realised his purpose, leaving comments on his own business!
https://www.linkedin.com/feed/update/activity:6967760773850767361
Razorschulz. You mean rarity as in over promising, under delivering, screwing the LTH's while rewarding himself handsomely............hmm?
Rather than considering new business (extending our pipeline/revenue aspiration) investors would be more reassured on ANY visible updates on our first BIG contract - the jackets. I note besides steel being unloaded and cut, all is quiet on any progress???
This post title should read INSIDE THE CRAZY DECISIONS THAT OBLITERATED THE VALUE OF OUR FLAGSHIP PROJECT, ISLANDMAGEE GAS STORAGE.
It's truly incredible how the value went from many, many multiples of the Mcap to ONLY DOUBLE OF AN ALMOST RECORD LOW OF SP? Even new investors anticipating a tidy profit if IM is sold, should worry based on the market reaction to our last record high contact win (twice the value of Mcap)! So much LTH trust and shareholder value crushed by our ever so untrustable self serving JW. I wish he could stand alone in a room with all those LTHs to which he promised so much and, one by one, be shown their individual real or paper losses. Oh, wishful thinking.......
Vent over.
Iamsailing. You have my sympathy. I was a LTH, sold out in the 13's accepting to cut my losses at £25K. Belief, hope, doubt, fear, anger then the inevitable get out while you still have something! I know how you feel. Then the other LTH's and new investors, with no doubt similar thoughts, all jump on you because they just don't want to hear what might be their inevitable fate too. It's sad that the plain facts of the BoD's long term deceptions cannot yet be accepted. My sympathies go to all with much heavier paper losses. JW has done himself proud. I see the "pipeline and break even this year" has been replaced by "revenue aspiration". JW's favorite storybook must be the Pied Piper. Last results: £25.5M record loss is 2.5 times the previous year. Share price declined 57% yet so many here still "believing" some miraculous reversal of fortune is around the corner...........good luck to you all!
Ascent Resources is a research client of Align Research. Align Research & its director are the largest shareholder in AST and cannot be seen to be impartial in relation to the share price outcome.
Iamsailing. You had some prolific foresight here in your post of almost a year ago...........
Yes - they probably will sell the storage soon, if they can find a buyer. Supposedly there had been some discussion about one of the gas majors looking at it, but the question is whether it’s a sure enough asset right now to get a decent price. Presumably it will be sold as one of the few remaining paths to financing what look like (imo) permanently loss-making vanity shipbuilding adventures and executive compensation. I would love to see someone launch a bid with the aim of replacing management, and selling off the yards that shareholders will otherwise be subsidising for as many years as they can be drained. Sadly, I feel the more likely outcome is shareholders nurse losses and maybe even management emerges with a few good assets bought out / taken private. I’m not saying the SP can’t go higher from here temporarily, but I predict shareholders will look back in a year or two and dream of the time they could have got out at 17p.