Nature Grp Share Discussion Threads

[norbert colon] 12/6/2011 19:28

From their website:

3rd REPORT
Nature Group PLC
Update on Industrial Accident
10th of June 2011

The board and senior management are doing everything in their power to assist the Government of Gibraltar following the explosion at the port on May 31.

Gibraltar Managing Director Darren Laguea said, " Naturally our first thoughts were and are with the 12 injured people on the cruise ship and the two Spanish welders who worked for the sub contractors as well as with the police officer who bravely assisted them. We also are aware this must have been terrifying for many of the residents of Gibraltar who would have been unaware of the cause of the explosion."

Mr Laguea added, " We fully support the Government in their quest to establish the cause of the accident and to ensure this kind of thing does not happen again. We have also brought in our own experts that are on site working hard to find the cause of the explosion. My board and management are keen to sit down with Gibraltar Ministers and the Captain of the Port to underline the outstanding safety record of Nature Group in ports throughout the world.

"Corporate Social responsibility is a vitally important part of our company's ethos and health, safety, human rights and environmental standards are at the core of our business."

Nature Group has also revealed that limited collection operations have resumed.

[pugugly] 03/6/2011 11:53

mjcrockett:> Thanks for that I had missed it.

[mjcrockett] 03/6/2011 10:44

From yesterday's update:

The Group's Gibraltar plant is fully insured under standard conditions. It also has a cover for business interruption. NPRFL's insurers have appointed an independent surveyor and a technical forensic team will conduct an investigation as soon as the site is accessible

[pugugly] 03/6/2011 10:38

VJ:> Re Insurance - very much depends (imo) on the exact terms of the policy and whether it includes loss of profit and extra translocational costs while the utility is out of action. [I am assuming that they had full insurance cover though cannot see anything about it in the rns's]

If the claim follows previous examples eg: Chemring in 02 or 03 from memory it may well take a very long time to reolve and end up going to law with court unpredicabilty

Market still taking a very wary view with continuous selling down (? stop losses or long term holders bailing out to preserve profit/capital)

Jury is still out on this one, but if it can be resolved without too much cost and dislocation then a MUST HAVE product and share price should recover over time - but time is very elastic !!!!!

Staying on the side for now

[ssmith4] 03/6/2011 10:24

and todays.....

[victorjohn] 02/6/2011 11:59

A nasty explosion for sure but I expect that the company's insurance should cover any financial losses associated with this unfortunate event. Yesterday's share price fall therefore looks to be an over-reaction.

[marky_mark06] 01/6/2011 22:53

@Simon Gordon. Good luck. Fortune favours the brave! 25 out of 42 trades today were "buys".

[simon gordon] 01/6/2011 20:04

Prior to the accident WH Ireland forecast 6.6p for 2011.

10x whatever the new EPS figure is seems more than generous whilst the implications of Gibraltar are worked through.

Looks a good short down to 50p.

[1356] 01/6/2011 11:53

North Mole Fire Practically Extinguished
A huge explosion at North Mole early this morning had a positive effect on the waste oil tanks fire, which has practically been extinguished. The explosion was caused when a fender full of compressed air burst as a result of the heat. A spokesman for the Civil Contingencies Committee says the fire brigade is continuing at the scene, where it is pumping foam onto oil deposits that have accumulated in the area around the tanks in order to prevent a re-ignition. The wreckage of the tanks is also being dampened down with water jets.

Tugs and the Salvamar vessel from Algeciras are assisting in this operation.

The focus will now be on the investigation to ascertain how the fire started and on the clean up. Some fuel spilt onto the sea causing an element of pollution, for which protective booms and other equipment had been deployed. An exclusion zone was set up in waters near North Mole and continues in force.

Bunkering operations restricted to the Southern end of Gibraltar. And, the cruise ship, Ocean Princess, which is due at 8 this morning has will be anchored in the bay, from where passengers will be tendered to the port.

Politically, although yesterday evening, La Linea offered assistance and had placed all of their emergency services on stand-by, it has this morning announced that it will be lodging an official complaint at EU level. According to the caretaker Mayor, Alejandro Sanchez, the fact that Gibraltar has reportedly declined assistance contravenes an EU directive on cross border co-operation. The Gibraltar Authorities have also come under criticism from the recently elected PP mayor in Algeciras for the same reason. Jose Ignacio Landaluce says the Rock declined help, stating it has adequate resources to deal with the situation.

The Civil Contingencies Committee, C3, has now ended it's special session.

The incident started shortly after 3 in the afternoon yesterday, when one of the tanks owned by the local firm, Nature Group, exploded. The RGP has all but ruled out foul play, with welding work being carried out on the tank the most likely cause.

A 40 year old Spanish worker continues in a life-threatening condition at a Seville Hospital this morning, with one other worker and a police officer having sustained minor injuries.

[simon gordon] 01/6/2011 07:13

Footage of the fire:




Seemingly started from the sparks of two welders working on the untis.

[simon gordon] 31/5/2011 17:13

BBC:

Gibraltar fuel depot explosion rocks port, two hurt

An explosion and fire have rocked the port of the British territory of Gibraltar, injuring two people, a police spokesman has told the BBC.

The blast took place at the territory's main fuel storage facility, close to a cruise ship docked at a pier.

One of those hurt received minor burns, while the other suffered more serious injuries, according to reports. Emergency workers are at the scene.

Police are investigating the cause of the explosion.

Dense black smoke could be seen from the city centre, according to AFP news agency.

The Southampton-based cruise ship, Independence of the Seas, had arrived in Gibraltar on Tuesday morning and had been due to leave at 1600 local time (1400 GMT), just before the blast.

[simon gordon] 31/5/2011 17:10

4.32pm:

Industrial Accident

Nature Group (AIM: NGR), the AIM quoted provider of port reception facilities and waste treatment solutions for the oil, marine and process industries, announces that an explosion occurred earlier this afternoon at its waste treatment facility in Gibraltar. At this time, the cause of the explosion is unknown. There are no fatalities although two employees have been injured in the incident. Emergency services are on hand and an assessment of the incident and the damage caused will be carried out as soon as it is safe to do so.

The Company will make a further announcement as soon as further information is available.

[marky_mark06] 26/5/2011 10:47

This stock is definitely a buy at the current price.

[ssmith4] 26/5/2011 10:06

A good piece of info from a daily rag.

[first choice] 26/5/2011 05:37

From the daily mail



Profit taking following the preliminary results left Nature Group 4p cheaper at 82p. The company whose world beating technology cleans contaminated seawater from ships' oil tanks and rigs, rolled out static profits of £1.5million and saw earnings per share slip to 3.71p from 4.05p. A higher final dividend of 0.7p per share is forecast, while there now is a hefty £5.7million cash in the bank.

[ssmith4] 25/5/2011 12:49

OK thanks PUGUGLY :o)

[pugugly] 25/5/2011 12:04

ssmith4 - Re your 217 - I suspect some pofit taking/stop losses as results may not have been as good as hoped for.

[ssmith4] 25/5/2011 10:38

OMG I am such a novice. Just read the latest RSN and all looks quite good but why the drop in SP? Not sure if I have missed something here. Can anyone comment and why the down turn in the share price please.

[henryatkin] 20/5/2011 16:12

Nature Group (AIM: NGR), the AIM quoted provider of port reception facilities and waste treatment solutions for the oil, marine and process industries, will announce its results for the full year to 31 December 2010 on Wednesday 25 May 2011.

[andrbea] 15/4/2011 09:00

2-day riser

[andrbea] 22/3/2011 13:27

6%
the climb back now to the year high hopefully.. and beyond

[andrbea] 23/2/2011 18:15

strong day

news coming perhaps?

[ssmith4] 18/1/2011 23:22

marky_mark06. I think your about right there. I think we are going to have quite a interesting year. New contracts and stronger business in norway. With the new/recent regs on zero contaminant release to the environment we are well placed to expand. Held these for long time and will continue to hold.

[marky_mark06] 18/1/2011 18:04

The price had risen significantly since the acquisition in December, so maybe this is a short-term correction, possibly reflecting anxiety about prospects for the UK and EU economies (rising inflation and interest rates). Company prospects still good, I think.