Infrastrata Share Chat (INFA)

Excellent report on today's H & W update, keeping us front and centre! How many other AIM companies are getting this attention?

Yes quite right ...I'm sorry I bit at CRL (a fine fellow).

regarding your remark....'I will be amazed if there is no slippage in the FID. Such an eventuality wouldn't sit well with investors.'

IMO It's a certainty that the FID is now delayed........it's impossible for the ML to now be advertised and the 42 day period allowing for objections/representations to defra and then Daefra to consider them. If it was advertised tomorrow (unlikely) that would take the close of the objections to the end of day on Christmas eve.......it would take a miracle for DAERA to consider the objections/representations in the three days 27th of December + 30th 31st December.

Not exactly impossible, but highly improbable that FID will now be taken before year end.

There are those that will say...but they can put caveats in the FID that rely on ML being issued.....but why would they prat about like that when they only have to wait a little while to do it properly without needless controversy and gifting the objectors a clear shot at goal.

Thanks to the several of you who responded to my previous post. I repeat that I think the H& W acquisition was unnecessary and foolish, although I hope I am wrong on the latter point.INFA doesn't need a shipyard. We had perfectly good ,experienced, and reliable contractors available for the construction of the gas caverns.
Mr. T I understand and respect your point of view. I was not at all surprised at the speed of the bookbuild. The placing had clearly been agreed at least a week ago and that after JW had told us that the balance of the (H&W) purchase price would be funded by "a long term debt facility." Where did that aspiration go? The Riverfort loan was derided by shareholders as something akin to banditry. Yet we are taking more of that too.
As we can already see from the non working cost of £.5m a month to finance the running of the shipyard it will be both expensive and time consuming and, INFA did not need it. Vanity thy name is JW!
I will be amazed if there is no slippage in the FID. Such an eventuality wouldn't sit well with investors.
And Snowman, much as I enjoy your posts I was sorry to see you castigate,(or try to), crl123. He wears his heart on his sleeve. Appreciate that. And by the way" the bloke" ,(JW), hasn't just made him into a millionaire, and he probably never will.
Just one final item. I was decidedly underwhelmed by the participation of Arun in the placing. A few million shares. And He's the Finance Director. Speaks volumes for his confidence!
Go well all.

4m a buy, I bought at just below .32 similar time

I guess it will be all change in the 3% owners’ club, it will be interesting to see who?

At 0.32 was a buy. 0.31 to sell at 4.29.
I did dummy trades.

I see value in all sides here. I err on the side of Set 1 in that I entered a simple company 3 yrs ago and feel it is rather gung ho at our expense. We all have our own views which I acknowledge. I am fed up with losing money ( caveat emptor of course) and can be cranky and bite back.
( my comment on JW...really about the corrupt City and probably unfair of me as Placings are the norm). I guess I’m just sick of Placings and dilution and hate shareholders being easy meat. Which we are.

the 4m - anyone know if it was a buy or sell ?

I've reread my post and can't see anything personally abusive there.......but if you feel offended....then I apologise.

I do get emotional...it's true.......I'm bipolar.

But if anyone wants to criticise any of my posts please feel free....I'm old and ugly enough to take it on the chin.

After the 2nd RNS added 800k, there has got to be something very compelling for JW to have succeeded got this placed. Correct me if I’m wrong but none of those nasty warrants attached.

I am an old hand at this game. 35 yrs in the stock market which has changed beyond recognition. And I still get things wrong of course. So does Mr. Buffet. I have a strong sense of right and wrong. Morality.
That’s all.
I never criticise your posts ...which are often emotive and forthright. You have a right to be so.
As do I.
A good chat board is depersonalised and supportive Disagreement is normal. I am peeved at what happened on Friday and feel it was a sign of the immoral side of the City and ( toothless FCA or not)...it’s plain and simply wrong.

......'Shameful of Infa for the 4th time. I did mention it gave signals of a Placing on Friday but shameful nevertheless Mr. Wood. But I expect your sleep will not be disturbed....'....

with all respect........Jesus H Christ CRL,,,,what do you want?.....the bloke has just made you into a millionaire!...........smell the coffee!!

Communication to SH has been poor agreed and I also am not overly joyed but what has been achieved could be the turning point, For a £5m macap company to raise £6m in hours is impressive, and it would not have been raised if the purchasers did not have faith (and to be fair that is their day job- not us pI's- so they know what they are investing in) if anything it should be a MAJOR buy signal to investors. I understand some peoples glasses are half empty probably due to the trend of the SP but when something comes along that can transform the SP it should be embrased not slated. AIMHO

Hi Setanta,
I completely understand the pessimism, and you are correct only 500% to go to get the sp back to those dizzy heights.
However look on the brightside, Infa a company valued today at barely £5M has raised £6M on the market and attracted some II's, I don't think in 20 years of investing I can remember an achievement such as this. I fully expected the bookbuild to fall short, and may have had to be cancelled altogether, I was wrong and I was amazed at how quickly we raised the £6M.
For me this would indicate the selling of this to the market must have had some hard numbers attached to it, why else the fast completion, it is not as if the placees could sell their shares back into the market for an instant profit as the sp was already at the placing price. You as well as I know how these usually work, the sp is .050 the RNS is announced, placing at .030? then you can be sure the shares will be disposed of rapidly for a quick buck, result, larghe fall in the sp.
I will now await the completion of this placing and the acquisition to be completed, then we can start looking at forward costs offset against incoming contracts, as I said before, there must be many and not just the IM project, why else would II's stick in £6M, certainly not based on the IM project alone funding H & W. Risks, costs, I agree, but I'm prepared to give JW the benefit of the doubt here for the next few months at least, I'm very interested where this could lead to! contract announcements also will be very telling?
Mr T

That is precisely my point. The daytime leaks. Shame on the broker or Infa. Or instis who may have buddies. City is corrupt. I knew that. I also knew FCA is a wet rag. They need videocam of a Securicor van being raided by a bank executive to ever do anything. Pathetic organisation which allows corruption.
But shame on John Wood for letting it happen repeatedly. Is this a lifestyle company again? I am told today low wages. Low esteem for shareholders too . On a 70% loss now after the previous Placing.
Their business plan is gung ho at our expense again. I agree with Setanta. Should have focussed in core project. What next?? Pipeline under Irish Sea.?
We will sit at 30/31 or lower for extended period as shareholders flip as do new buyers. Never-Ending Story.

but i do. There's a lot of excitement because INFA has raied £6m,(before expenses. How much?), but inter alia our BOD has agreed to pay the maintenance costs of Harland and Wolff up to 5 December ,(£500k), although we are not yet the owners. And if the deal is not completed before the beginning of January we will pay another £500K. So taking all those costs into account we will be lucky to have £4.5m available from the placing. 25% spent for nothing!
We should be excited. We now have Institutional shareholders. But we haven't been told who they are!
Contracts for our soon to be shipyard? Well let's wait and see! Shipbuilding as has been suggested by some here? I double doubt it! Savings on our other upcoming projects? Well we'll see in due time and that's assuming that those projects come to fruition
Look, I know that there are positives being suggested by this acquisition but there are enormous risks and cost attached. Still it's not so bad. The SP only has to rise 500% to be where it was in January. Now that IS a verifiable fact!

CR,
I can guarantee here and now there will be no FCA investigation, a toothless organistion that is effectively useless in all areas in my experience.
Officially any leaks and obviously there were some as the press got hold of this, were after market hours therefore nobody could have benefitted? Now on the other hand if news was leaked early doors Friday am then that is a different matter, it may have been but you cannot be sure. I suspect rumours were circulating all last week in and around the city, and some kind souls did leak the information hence the drop in the sp to very near the placing price.
Mr T

So for the so called LTH, if your really in this for the long term and actually have an interest and belief in the gas cavern project then your in this until the gas starts flowing because you can guarantee this morning’s intuitional investors are here for dividends not a few penny raise in SP so complaining about a 10% drop in the last 6 days or speculating about a 5p price in 6 months is just wasting a lot of peoples reading time. Remember owning 1pc of something is better than owning 10pc of SFA. But if a company with no money was the best bidder for H&W then John and Arun have taken on a huge challenge/risk and I just hope it doesn’t actually deter resources from or have a long term negative effect on the original targets at Islandmagee.

I have to say I am not surprised at this morning’s activities given Infrastatas recent ducks and dives – I am more surprised in some of the shareholders shock and anger – maybe you need to go to Specsavers if you didn’t see this coming or maybe you need to calm down and accept this is only a sign of things to come. It really isn’t hard to dig up information from the internet and come to realistic conclusions. Infrastata had to take a loan for the deposit of a shipyard that has been losing money for years and of course with 70 workers and a vast leasehold area was always going to have a large monthly cash burn (I agree with others this is probably half a million every month). So as smart as JW seems where was he ever going to get finance to purchase assets that cannot really be used anywhere else (I don’t think any bank could repossess 2 big yellow cranes and put them on Gumtree if mortgage payments weren’t kept up to date). Coupled with the fact that H&W has no secured contracts (this is why it went into administration) and potential profit-making work (i.e. the naval stuff) is years away means that any revenue the docks make would probably just to clear overheads and keep the place alive until the day that Islandmagee is actually approved and needs some steelwork made. So is seems the only way the rest of purchase money was ever going to be secured for the shipyard was to offer equity to someone (and obviously that deal was handshaked in the city last Friday – hence the SP dip, press leak, RNS and placing since). What I really don’t understand from some SH posters on here/Twitter (and try not put me in the same negative club as JR the ex-executive) but this is clearly not going to be the end of share dilution. H&W obviously is not going to add cash to the IF bank account anytime soon – if anything it is going to need more handouts and Islandmagee is going to need millions if not tens of millions to actually develop whenever the marine licences actually come through (maybe saving the local shipyard jobs will help accelerate the latter). Again, where is John Wood going to convince any institutional lender to give him extreme amounts of money to continuously dissolve salt underground for a couple of years before eventually putting gas in it and turning potential into revenueu for repayments. As I said before I think the technology is brilliant and I hope the environmentalists realise this too and back off so this can get going but I can see years and years of more share issues and dilution ahead because without it the original project just cannot be achieved.

You are lucky to have found two good opportunities!

100% got my support.

I don't have much AIM experience - pretty much INFA and bailing out of one small mining company, so probably a little naïve. However it does strike me that JW is coming in for a lot of stick more based on impact on short term share price rather than the best long term deals for the company, which are going to be hugely rewarding for LTH's (once through the choppy waters !). Would have been great to have sold at 2p and buy back in again now, but all out of crystal balls when I checked in January. I do hope that Shareholders support him at the AGM

Sorry....wrong board.

My view is this......If the other companies know there is an inside Nornickel man, they know they are going to have to bid probably even higher than market value if they really want to secure it.

China are not going to be impassive here!!!

Here comes the mother of all bidding wars !!!!!!!!!

3 Billion plus in my very humble opinion and for once, will NOT be happy to be proved wrong. We are now in a freshly built ball park !!!!!!!

Happy days....but DYOR !!!!!!!!!!!!!!!!!!!!

Longlad- to be fair JW has a lot of skin in the game!

Just saw the rns, definitely good news..just hope the institutional investors are reputable not like some of the recent acquaintance JW has made (Riverfort!)Notice that it was only Arun’s name under ‘director participation’!