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Anthony Luzio, editor of Trustnet has wrote an interesting article where he discusses Gresham House and their investment approach and strategy. Reference is made to the purchase of Infrastrata by Gresham and the management team at INFA. It's a good read on the reasons why Gresham bought I to INFA.
https://www.trustnet.com/news/7465783/the-trust-taking-a-private-equity-approach-to-small-caps
It's been suggested BP that your posts tend to be on the negative side a bit more often than the positive but this was a good post expressing the reasons for your concern. It's good to have a balance of views as sometimes (and I can be guilty of this too) we're maybe searching too hard to find potential positives without looking at the bigger picture.
I strongly disagree with you though that H & W only has scrap value. If it was going back on the market again now(and even with a limited number of possible buyers) I believe it would certainly attain a higher premium than INFA paid for it. The real value of H & W will be if/when the ML is granted and that value is to INFA as a company themselves in the reduced costs of fabrication and construction on the IM project that H & W will provide.
I agree public money will boost H & W if it comes in but hopefully H & W will be self sustainable.
The game changer and best hope of a multi bagger is defo IM. Theres scary potential for growth here if JW can pull this one off.
You never did respond to that challenge to say something positive or even a little positive about INFA BP. Go on, give it a go, I think you could do it.
I see Stena Scotia has dry docked this morning. It's a very long time since H & W has had 4 ships in at the same time.
www.vesselfinder.com
'Usurious'. That's a brill word. Being honest, i had to Google it, lol. I imagine with that vocabulary you're a lot brighter than most of us here BP. Being a buck eejit myself not too many folk need to Google anything i ever post, lol.
On a serious note BP, without looking back and what's been done previously (we can't change that) what would you like to see happen going forward with INFA ? I'm talking practically, ie where you feel they should focus / not focus and how they go about doing that ?
I know some folk here have suggested you can be quite negative, but being a shareholder yourself and remaining invested in INFA, i believe you must have some sort of positivity on this stock and some idea on the method you'd like them to progess.
Here's the challenge, lol. Tell us your thoughts on this and try to err on the positive side. You can do it BP !
With an additional 9 millionish on the bank balance this leaves H & W now able to tender for work they would not previously have been able to carry out.
The reason they couldn't do some contract work is that they needed the funds to have the goods and materials available to do the work. As most contract work is paid on completion INFA need to purchase materials up front themselves. To give a basic example if INFA were simply anti fouling one of these big ships in dry dock, INFA need to purchase a few tins of paint upfront.
Now take this upfront cost when they are purchasing high value materials to do a job and you're talking quite a bit of capital outlay prior to a spanner, wrench or welding torch being lifted (or a payment for work being received).
The bottom line now is they have 9 million more to put themselves in a position to get bigger contracts.
This isn't just my point though. Obviously INFA seen the need for this capital raise quite a while ago to gain bigger work, and hopefully 'the suits' (said respectfully) behind the scenes have been pro actively tendering for this type of work in anticipation of gaining this additional working capital.
If they have been successful in getting letters of intent from potential customers (pending confirmation of greater financial stability to complete the work), then all being well we should in the near future get some positive news re contracts work being acquired.
I'm saying this as I believe this 9 million capital raise has been done for positive purposes (to gain bigger work) and they simply didn't need the money to stay afloat (soz for the shipping pun).
Again, just my out loud thinking.
I imagine as a lot of these offshore rigs are aging we'll be seeing more of them being commissioned in the near future. From H & W website they state they are only one of 2 licensed docks for marine waste disposal.
Now someone a bit more knowledgeable than me could maybe answer this, but would these rigs fall into 'marine waste disposal' or would this term only refer to vessels ie shipping ?
I would assume they do, being obviously in the sea, so 'marine', so this is maybe a silly question.
What I'm trying to establish is, is this potential decommissioning work H & W could potentially tender for ? If so, they're one of 2 UK companies in the frame for it. There's obviously other European yards doing this de-commissioning work but what's the competition like outside UK for getting this work ? I see Turkey seems to a player in ship decommissioning work.
https://www.offshore-energy.biz/taqa-files-decommissioning-plans-for-two-north-sea-platform-topsides/
https://www.harland-wolff.com/decommissioning/
For me BT I initially came for the massive growth potential as I seen it.
In my SIPP I have various funds managed by the investment specialists as I see them, fund managers in the likes of Jupiter, Invesco, M & G, Schroders, etc. I however like to research and play with a few pounds in 4 or 5 very very speculative punts myself. With these monies I don't want some investment that could do plus or minus 15 or 20% p/a. I want something that could do 5 or 10 fold within a few years or could equally go under. I call them my boom or busters and normally only have a grand or two in each. The shares I've bought and sold in this category are usually pharma research, mining and exploration and higher risk commodity stocks.
This is how I came to be in INFA. I seen them as a good candidate as a boom or buster in my portfolio and being an NI focused share this added additional local interest for me living here. This was the time when they were a one trick pony with the Islandmagee project and prior to the EU monies being received and ML application being submitted.
What's changed for me is that I don't see them now as a 'buster' now, but still see the massive 'boom' potential spread across several areas, IM, H & W and Barrow.
I've subsequently increased my holding quite a bit in INFA and am excited about where this share could go.
Long winded explanation of how I came to be in INFA, but there you go, lol.
Hopefully we might get a few more stories of how us folk came aboard the good ship INFA.
Sorry, I misread the page re 4 drydocking next month. There's 2 dry docking next month and 2 more to follow.
Info from niferry website re 4 Stena dry dockings next month.
https://www.niferry.co.uk/stena-nordica-return-belfast-heysham-relief/
I think the only thing we can be certain of here is future uncertainty. I know I'm stating the obvious but with the recent volatility we've encountered i can't see this changing short term.
I'd love to be brave enough to trade in and out of this on a regular basis but I'm honestly reluctant to do this as I'm afraid of missing the highs and i believe TOOP has reasonable longer term prospects.
I'm staying for the longer haul (for now)
GLA
Quick question. For these II's who are taking up the 0.35 additional shares, is there a time limit that they are required to hold them before selling ?
The reason i ask is say for example if the share price got up to say 0.70 and there was a further share issue and dilution to capital raise again in 1 year, would these current buyers be able to offload these purchased shares coming up to that, to subsequently buy in again with any relevent discount at the time ?
Ta for any knowledge anyone can provide on this.
This power station is less than 10 miles from Islandmagee and is proposing going from coal to gas powered, as well as a few other energy options, hydrogen, solar, etc.
To power 500,000 homes it gonna need quite a quantity of gas and reliability of a consistent supply.
A storage cavern (or 7) nearby could maybe provide this.
https://www.belfasttelegraph.co.uk/business/northern-ireland/revealed-plan-for-600m-transformation-of-ni-power-station-39354138.html
I totally agree Tango. I wasn't suggesting that for a sec.
I'm thinking more with the good relationship INFA and NAVI have (team Resolute, etc) could there be joint opportunities of some kind here if Carnival are looking at options. 200 mill is a lot of contract money and if H & W could assist in some way with subbie work for example to NAVI to speed up works for example.
As much as I'd like it to be the case H & W are not yet anywhere near competing with Navantia for a contract of this size.
I knew H & W had 2 of the biggest drydocks in Europe but i came across this site listing the world's top 50 biggest dry docks. It's showing the H & W Building dock in 7th place and there aren't too many European docks on this list. That's quite a stat for our wee country !
https://www.trusteddocks.com/record/top-dry-dock-in-length
I've also posted below that Carnival are 'evaluating shipyard options to complete the transformation' of their cruise ship Carnival Victory. It was drydocked in Navantia earlier in the year for a 200 million contract although Covid ceased the work being done.
It's interesting that Carnival now appear to be looking at other options to complete the job and not simply leaving the ship with Navantia.
At 272 metres i imagine there would be limited yards able to tender for working on a big gurl of Victory's size.
https://www.cruiseindustrynews.com/cruise-news/23195-carnival-looking-for-shipyard-to-finish-radiance-conversion.html
I know this 2,5 million Stena contract news has been posted here a few days ago but heres some great photos of H & W and Stena ship in dock from that news item.
https://www.belfastlive.co.uk/whats-on/whats-on-news/heres-youll-seeing-many-ships-18534299.amp
Don't think I'm all things positive and complimentary on TAVI or on the BOD TTMaB, i most certainly am not.
I feel their Lighthouse adventure was a poor call and it also concerns me that Lighthouse still have quite a stake in TAVI, particularly with them being Quilter owned now, a direct competitor of TAVI (and a much bigger proposition than TAVI).
I'd also like to see a higher profile fund management team in place and an enhanced presence of the company in financial commentaries to promote their wares.
It's my only share in a pure financial stock at the moment so i feel im gonna try and sit this one out for better days. As for me being employed by TAVI or in PR, I'm not, but i am open to any offers that might make me some money as this share certainly isn't doing it for now.
Welcome Newboy52. Thanks for your 1st contribution to the page after watching us for so long. I'm now viewing you as a 'giver' and no longer just a 'taker'.
You'll see the abbreviation DYOR with some posts. A lot of posters will use this term in investment pages to ensure folk don't just automatically follow them. In future I'd advise don't let anyone encourage you to do anything you don't want to do, especially if money is involved.
As for myself being an 'Expert' , I'll simply quote the saying 'don't follow me, I'm lost too'.
Please do continue to post here as the more thoughts we have the better.
PS - Thanks for the giggle too when i done a quick Google of your name.
We might just see Viking Sun in dry dock this afternoon if it's coming back to Belfast as per niferry website.
Here's a thought too. Could we see all 3 Vikings in the drydock together ? That would be a great sight.
Its feasible that in the last week or 2 they've had the 'above water' works completed and now they could be having 'below water' inspections and cleaning done before all setting off again.
Also possible that I'm doing this overthinking thing again, lol.
' VIKING SUN, is currently away from the yard but is expected to return this afternoon. At the time of writing she is moored at Belfast Anchorage, near Bangor '.
The above statement is on the niferry.co.uk news link below (last paragraph) . Maybe she wasn't waiting on the 2 sister ships to travel away together and more work is being completed.
The below link also gives more info on the Stena ships expected into the H & W yard.
https://www.niferry.co.uk/in-pictures-stena-europe-leaves-belfast-for-fishguard/