Member Info for stokey12

Chitta123 in your 17.08 post you say 'Progress would be premature without the result of the judicial review'. I disagree making progress while the JR winds its way through the courts makes sense. The alternative is to put everything on hold even if not legally necessary while the JR goes through then if it is dismissed you have wasted a year or more needlessly.

AlbertoZ ref 13.56 post I see HARL are being more careful about keeping this list upto date. When I first invested here they went about a year without updating it now it seems to be on a quarterly basis. Interesting that Kave still seems to be adding to his investment that is a sign of confidence. If he is willing to keep on increasing his investment I for one am confident to keep invested here.

Speedy_Gonzalez ref 20.41 post as Monday's event was going to be at a commercial meeting venue a certain number of people needed to attend to make it cost effective to attend. I suspect that most people decided that they did not want to spend a nice summer evening in a meeting room.

Jabido ref 15.24 post in relation to the FSS contract while it is a consortium bid the contract would need to be with one of the members of the consortium as Team Resolute does not have the ability to enter into the contract in that name. It is therefore that the contract could be in Navantia's name as they would be able to meet the financial criteria. Therefore Team Resolute could win the contract without it crashing the SP. What is not clear is how the profits will be shared out amongst the members of Team Resolute. I presume it would be done on the basis of the amount of work done by each party.

In other news there is this from the N I Ferry site https://www.niferry.co.uk/orkney-ferry-arrives-in-belfast-for-repairs/ The Belfast Harbour website shows the Alfred as being docked until late August.

Speedy_Gonzalez ref 08.22 post I recall it being said previously that the FID will be in H1 2022 so it is due. On the JR point the fact that there is a JR does not mean everything has to stop. I am not sure if anybody knows was an application made for an interim injunction to stay the effect of the decision. If there was not then there is nothing stopping HARL carrying on under the consent granted until such time as an order quashing it is made.

Mikey279 ref 07.47 post I am not sure that a raise is necessary. The reason I say this is there is the $75m facility in place I am not sure that it has been fully utilised. Also with this additional contract plus the M55 contract there is a secure revenue stream going into next year. In addition I would expect at least one fabrication contract in relation to wind turbines to be agreed increasing revenues and further securing revenues. I would also remind you that the FID on IslandMagee is still due which may provide further liquidity.

This RNS clarifies the anomaly I previously mentioned in the Cenkos research note. The Cory contract was stated by Cenkos as providing £15m in revenues in 2023 but the only contract we knew about at that time was the original contract for £8.5m. From these two contracts £3.1m in revenues will be payable in 2022.

The advantage of these contracts is that the production line should be working at optimum efficiency for renewables contracts.

Chrisatrdg ref 11.32 post see my 08 Jul 2022 08:56 post for my question. I am not planning on going to Monday's event just the online one on Thursday. Look forward to the feedback from it.

katstrangler ref 23.18 post As far as the profit margin is concerned on the M55 the in house broker in their note last week put it at 20%. On the question of the workload is concerned if you check my posts from last week you will see a link to the MOD press release on the contract. The press release goes into some detail on the work to be done. Also the quote from the Head of the DE&SA indicates that HARL will be considered for future contracts of this nature. I think there is talk of Cameroon looking for some equipment.

Ref my 06.22 post it should have read 'I am moving to the view that the TOBA may not be renewed'

Speedy_Gonzalez ref 00.32 post A few months I did suggest that HMG were just stringing JW along to get better prices from BAB and BAe. Having listened to Ben Wallace before the Defence Select Committee I am moving to the view that the TOBA may not be reviewed. On two occasions he has made the point about not expect to just get the next contract. Also he would look at what the MoD got under the TOBA. A continuation of the TOBA would be inconsistent in my view with HMG's aim to resurrect the Shipbuilding Industry.

Also there may be political advantages to using HARL for defence shipbuilding. The MP for Antrim is a DUP MP who are close to the Conservative party so giving work to Belfast would help mend fences with the DUP.

Speedy_Gonzalez ref 16.48 post you ask 'So why do we believe we are likely to secure a new build, least of all a flagship or FSS any time soon' to answer this I would refer you back to my 15.42 post I said ' In relation to your question judging by the evidence given by the Defence Secretary to the Defence Select Committee I do not think he agrees with you.' So we have the positive comments from the Defence Secretary. Also there is the capacity issue. Govan and Clyde will at some point run out of capacity to build more vessels in the time frame needed so the MoD will need to go elsewhere and Belfast is the only place left in the UK to go.

Team Resolute will if successful on the FSS will upskill the workforce.

Speedy_Gonzalez ref your 15.15 post. I think the last vessel built at Appledore was more recent than for Belfast but cannot remember the year it was when BAB owned the yard. In relation to your question judging by the evidence given by the Defence Secretary to the Defence Select Committee I do not think he agrees with you.

Bubble2021 ref 14.00 post can I ask you to clarify this post when you say 'maybe after the British government have signed off the Irish agreement next week' what agreement are you referring to? If you are referring to an agreement with the Northern Ireland Executive then if it is a devolved matter then we do not have a functioning executive at present as far as I am aware to sign anything. If you are referring to an agreement with the Republic of Ireland Government I would be interested in knowing more about it.

Chrisatrdg ref 11.26 post I am also getting concerned at the length of time that the docks at Belfast are empty. It may be that the docks are needed for access to the fabrication yard in relation to the barges contract. Last time i checked nothing appears to be due in for at least two weeks.

Bubble2021 ref 19.11 and 19.12 posts if you do not want to be accused of ramping you may want to provide the basis for your statements.

Seeing the sea of red around the markets indices I think HARL caught a bad break (again) and yesterday's announcement came when shares were down generally.

Lottie123 ref 11.25 I agree that the brokers may know something that they are not saying but I need to go on facts. If you are going to the Investor Meet Event next week can you ask for clarification. I doubt you will get a straight answer though.

This MOD Press release both confirms the contract it also fleshes out the work that is being done https://www.gov.uk/government/news/55-million-to-restore-mine-hunter-for-nato-ally. I note what the DESA Head says Cdre Richard Whalley, Head of DESA, said:

This contract award reinforces our excellent working relationship that we have with Lithuania as our NATO ally as well as UK owned Harland & Wolff. We’re really pleased to see HMS QUORN refurbished in Appledore Shipyard and look forward to continuing our work with them supporting the British supply chain.