Baynet
I think the Bakamla news is very relevant, although the Bank of Indonesia will not be paying SRT. Santander will be. However, there must be a signing off from the Indonesian side for that to happen. I imagine that is why the Head of Project Management is involved. Bakamla is not very experienced in these matters and as mentioned previously this pèroject is almost three times their annual budget. BTW the Bank of Indonesia is the central bank.
Unfortunately I don't have Twitter. |
Also some interesting posts this morning from Saudi govt account @BG994
Video demo just posted |
Any significance to this and UKEF process posted on twitter this morning?
Official Indonesia Coast Guard (IDNCG)
@HumasBakamlaRI
Bakamla RI and Bank Indonesia officially signed the Document to Become a Bank Indonesia Customer. The signing was carried out by the Head of Bakamla RI and the Executive Director of the Head of the Department of Project Management and Technology (DPPT) of Bank Indonesia, Herawanto. |
Yet more price sensitive information, I'm afraid.
They are now looking for a success manager for Kuwait, so it looks like C5's conjecture was well-founded. And, of course, it gives some indication of SRT's view of the project's imminence. |
May 2023 share price broke through 60p following announcement of £140 million Indonesia contract which will hopefully be signed at last within the next fortnight, along with Saudi and Bahrain. This will be followed by brokers note detailing projected end of year large cash balances. This will be followed by Mid East contract of $200 million plus? contract. |
supernumerary - Agreed. |
pldazzle - I think it's also worth remembering that 'starting' is rather a flexible term for SRT. Are acquiring staff and components well ahead of signature 'starting'? I would say so, but I have the impression that every SRT contract operates that way to some extent.
Why investors/traders have taken it quite so seriously this time I don't know, but I can't help feeling that a certain amount of the rise is due to the very reliable 'buy on the webcast, sell on the outcome' pattern that's been established here. Maybe the oscillations are just getting bigger?
Meanwhile, I'm happy with the price, and just as happy to wait and see what actually transpires. |
Looks like someone sitting on the floor on extreme right of photo. Are the chairs that uncomfortable? |
Bakamla back up and running after fire |
I’m prepared to count my chickens now. Was given some nice glass brewing flasks last Christmas, but they’ve now been reserved for jam.
Goodness knows, most of my other AIM shares are not exactly showing any life, so by the law of averages, a great one is overdue. Although there is no law of averages of course. Perhaps thats the mantra that tricks us all into investing. |
Past experience suggests that we should ignore everything until we get an RNS stating categorically that something has been signed. |
I think we would be better spending time working out what these potential new sources of revenue would do to the eps than on semantics. |
EC - sorry but you are twisting the English language, and I suspect you know it.
"There are four specific contracts with a total value of $420m that we are focussed on near-term".
The only *fact* here is the phrase "we are focussed on....". Apart from Indonesia, where the delays have been widely discussed, these contracts had clearly not been signed as of yesterday, or we would have been told otherwise.
"All four contracts start well before the end of the calendar year".
This is an obvious elision for "All four contracts *are expected to* start....": if taken literally, as you appear to be doing, the statement would simply be untrue. The *fact* is that the contracts will start by year-end only if the contracts are signed in the hoped-for timescale.
In short, you are confusing expectations with known facts. |
 From the last TU update -
"However, we are pleased to advise that the scope of Phase 2 has now been formally agreed and confirmed and the customer has advised that they expect the formal documentation and notice to proceed to be issued within the next few weeks."
I suspect as ST is currently in the ME, that a signing is likely for the $9m contract.
As for the ME contract worth $200m mentioned as closing within this calendar year, again, this was mentioned in recent TU -
"The larger contract opportunity contract timing looks likely to be later this calendar year subject to project scope finalisation and final award."
As for the funding -
"In January 2024, we successfully completed an equity cash raise of £10.5m. This placed the Company on a strong cash footing intended to enable us to withstand the variances that come with our strategy of becoming a large global maritime systems business. In addition, we retain our secured loan note programme where we have existing undrawn capacity of £16.7m. Thus we are in a positive position to weather the project delays.
ST comment -
"The fundamentals and prospects of our business are strong, and we are fortunate to be in a supportive working capital position." |
FWIW, Kuwait has been suggested as one of the potential contracts. This snippet dated June '24 seems to confirm Maritime security is on their agenda. |
Wow some folk really need to feel right don’t they. Actually its relatively irrelevant as well.
Nice not to be in ST’s position of being between a rock and a hard place, when it comes to keeping investors informed, isn’t it? |
But there is!
It coukd just as well be a 'relief rally' that has overshot, on the pleasant news that the webcast wasn't a plea for funds...yet.
Either there'll be a fundraise or there'llbe news of a contract...and possibly both.
It's the nature of the beast..
AFAICS |
pldazzle,
"There are four specific contracts with a total value of $420m that we are focussed on near-term".
"All four contracts start well before the end of the calendar year".
These are facts (unless they are fictions, which is a different issue). They also meet the FCA definition of "precise" from the link I posted previously. They also directly caused the share price to rise by over 40% so far in the 28 hours after they were broadcast.
There really should be no argument about this. |
EC - I have listened to the webcast carefully three times. In my view it contained absolutely no factual information - e.g. in regard to firm orders - in any sense that would warrant an RNS, let alone require one.
It would seem that the share price has moved largely because the numbers under discussion are huge, as they undoubtedly are. But as we know from bitter experience, there's many a slip twixt cup and lip. In those circumstances, an RNS would risk doing more harm than good.
An RNS Reach, on the other hand, might be a useful tool here. |
EC - I'm not sure what inside information I was supposed to have gleaned from ST's presentation. What I understood was that he's very positive about the contract situation, that the putative contracts are very large, and that he's confident one or more will be signed imminently. Oh, and Nexus should be out by Christmas.
I can't remember the previous such webcast, but as far as I do, the message was surely pretty much identical, and we know what's happened since :¬( |
Basically SRT can’t win can they ?
I’d prefer it if the FCA actually used their rules to go after the shysters that lie, milk the market, then delist.
I suggest folk get exercised about that, if they like getting exercised about something. |
Extrader, you clearly do not have a proper understanding of the role of the NOMAD or the responsibilities of management.
It is worth looking at what the FCA say on this matter:
Don't get me wrong, I am very happy with the news, but I do get tired of SRT playing fast and loose with the rules. |
The Nomad is presumably aware of the circumstances behind SRT's track record of 'overpromise and under-deliver' and appears to have taken a different view on this occasion.
It can hardly compel SRT to issue a speeding ticket post-fact, saying 'we no no reason...etc', when Simon has explicitly said WHY an improvement in share price is warranted, in his opinion.
And if the Nomad felt a trading statement was required in the circs, surely it would have said so?
After all, that's what it's paid to do....
AFAICS |
Its still pipeline talk, unsigned contracts, so couldn’t go in a trading statement.
There are many tweets, podcasts, interviews from AIM companies that give a nod and a wink and come to nothing, despite causing price movements.
If you’re not watching or hearing them, its just tough, or lucky, depending on whether you pile in and win or lose. |
Thank you EC. Maybe you are right about a trading statement. I do not know how much new news there was though. |
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