This is a little island, man-made, just before you enter Porthmadog Harbour. It was created by the empty slate ships dumping their ballast before taking on a fresh load of slate. On the right hand side you can still see some of the old mooring berths. When the tide is low, you can walk to this little island.
Pretty interesting shot, going out, the ships did not need ballast due to the heavy weight of the slate, but coming in did they use stone or sand to give them ballast? Does your area there still supply slate to other parts of your country?