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Speedy, I get your views on trust but it’s a bit of a stretch to say that trust has been broken suddenly. I think the bod have been fairly transparent and to have pulled off H&W within a few short months must have taken everything from this very small board. There’s a reason why we are on this side of the company and they are on the other side- the kind of work and dedication required to pull that kind of thing off is astounding and something I for sure don’t have the skills for but that’s why I’m sticking with my investment because I want the reward in time. But the sentiment here appears to make them sound like maverick risk-takers unconcerned with our hard earned money’s value and how it’s spent. Someone even said that they are using it to fund their lifestyle. Come on guys, no one is here out of the goodness of their hearts, not us, not them. This is their day job after all. We all want money and clearly this one is a long haul but I don’t see it de-railing, there are absolutely no indications of that except our projection of historic losses on to this new team who have, frankly, done more in the last year than this project has seen since its inception. People still want to come in at the bottom but continue to criticise the team. How does that work? I find that very strange - why come in when you think this is a loser? I am sitting on huge losses myself but I think this team has a practical vision and I’m prepared to give them time to materialise it. H&W is a game changer- no small shipyard as someone said earlier, its historic and political significance is immense. It will be the key if my senile reading of the situation is correct and will lift IM out of the hole it finds itself in.
The marine licence will be a biggie and I’m prepared to wait for it despite being in a BIG loss myself. I get the sentiment of disgruntled investors who are losing sleep over the losses. But this is the beginning of a looong project cycle and bumps are to be expected right? It looks to me like people expected either a quick buck or a sharp early swing which is not likely here and hence the deep disappointments. The sp is a bummer no doubt but I am inclined to agree with droderick’s assessment although cautiously. If the consultation currently ongoing goes well and leads to the marine licence in expected time then I’ll be very happy indeed. In the meantime, I continue to support the team most likely working through Christmas and wish you all a very happy Christmas too!
Droderick. I respect and mostly agree with the many good points and counter arguments you made...........except your last paragraph repeated below with my explanation and support, today, for Setanta's very candid and appropriate comments.
"Can I ask all of us to take a breather over the next few days and reflect on the achievements over the past year? Let's not get hung up over one missed deadline when so much good has been achieved and so much good is yet to come."
It's not one missed FID deadline but 3 beginning last December (for 2 caverns), then change of tack in Jan (for 7 caverns), very similar to today by offering more potential reward in exchange for delay. I include also other "deadlines", as they were offered with, one would assume, professional and dilligent research we expect from our BOD:
1. The promised but never revealed equity/debt provider details.
2. The promised but never revealed Chairman.
3. The promised but never received EU refund.
4. The promised and never revealed November milestones.
5. The remaining Q4 milestones including ML.
The issue here is trust, on both what is promised and then delivered, on time. We invested because we trusted. We stayed invested because we trusted. We accepted this year's nagging dramatic losses because we trusted.........but you know what happens when that trust suddenly BREAKS!!??
Then you say "so much good has been achieved and so much good is yet to come."
"Good" is not what anyone here invested for. We have our morals, mores, principles etc and I feel there are a lot of decent people invested here but we are not The Gates Foundation. So, no matter how far we have come we have not seen any reward, only increasingly greater losses with increasingly smaller potential gains. The INFA train was speeding down the tracks, then slowed, then stalled and now it looks like falling off. Not so long ago JW was valuing the SP target around 10p.
Where are we today and in which direction do we continue to travel Droderick?
Hi Speedy, never sleep well, TBH.
But, just got back from seeing some old friends band playing at the local pub.
Cracking night.
Cheers, Si.
Si. Look at us trusting old souls, losing valuable sleep calculating our large losses to men with silk tongues and sharp fangs. Sleep well. Tomorrow's a brand new day!
0.13 to .0062 in eight years.
But the dillution... that going to take bit of spreadsheetery.
Crl123. I bought a small amount in early 2016 avg around 0.016. Then gradually increased to approx 2.5m avg around 0.0075. In 2017 I recall owning 0.66% of total INFA stock due to small share issue then! At present my 5m shares avgd at 0.0058 puts me approx 50% down. So much for trusting well spoken CEOs! So much for AIM too!
Having read tonight through some of Infrastrata’s marine license application documents submitted to DAERA this week for the consultation period from today to 7th February 2020 they look very thorough, and I’m no expert here, but from what I have read previously about the thoroughness of the supplied documents which go beyond the expected level of assessment data to be provided to DAERA by RPS I can see no reason why a marine license will not be issued in due course. I have lost about two thirds of my investment up to now about > 56% in the red, but as it’s a paper loss I am prepared to stay invested for the long term, though in early autumn last year I was in profit by over £300 and now at a loss. But nothing I can do but hold to see what next year brings. As the saying goes “you’ve got to speculate to accumulate”. Merry Christmas everyone and keep you chin up.
I entered at 10p !!! Averaged down to circa 0.8 .. sitting on big loss. Having had time to consider after initial body blow today .. I’m not losing hope .. it’s just going to take a lot longer than anticipated
Have any holders here managed sub 0.5?
Just helps me understand where people generally lie. Of course I expect most people not to say.
I managed to get to 0.65 but with heightened risk. Long term holders are easy meat it seems.
Payback time please Mr. Wood. We have been through enough now ..really.
Other LOng long TH ‘s more worthy but maybe not as much at stake. ( ?)
Here’s to better times.....and the odd promise fulfilled. Come on Mr. Wood . You knew about this all along. Now live up to what we have given.
GL all holders
Thank you for a balanced and settled post. Just what was needed. Well done .
And I would second your advice.
Enjoy a few swifties!
The BoD have got sidetracked with the fundraising and h&w acquisition. It is a very small management team and IM has suffered. There are only so many hours in the day and H &W is a monster turnaround project with large monthly cash burn so this must take priority
Reading the posts today, I can feel the anger and frustration of long term holders. INFA has always been run as a company without cash and this means shareholders get diluted regularly when the BODs need money. It doesn’t really matter to BOD if there are delays as they still get paid and when they get close to running out of money they can dilute shareholders more...as they have done for years. They need to run the company for the shareholders SP and not for their own cashflow and lifestyle.
Wow, what a day, I have held off from posting today also been very busy at work.
Anyway I agree with what has been said looking at both sides, I firmly believe today's RNS could have been included with the ML update, JW must have known then that FID would be delayed, in fact I think I mentioned this the other day, that I thought it would be delayed, Tango sure did.
So another delay for financing which is annoying but not unexpected, the thing is though before JW starts applying for further infrastructure funding, how about updating us in respect of the bloody funding still owed to us, £1.6M to be precise which should be with us in Q4 according to the updates in the past? where is it?
Also the other point I am not happy about is the Chairman position, this clearly should now have been sorted, I suspect however a delay is called for again? because of the H & w acquisition. I'm fairly certain that the Chairman will be someone from the shipbuilding field. By the way H & w not that small an enterprise in it's heyday, tuning over some 60-80M per annum if looking at it's old reported accounts!!
Okay so the news today was not good, that's for sure, but I believe some positive news on the H & W front and everyone will feel differently, that must be forthcoming shortly, possibly not until the New Year now but surely some contract awards will be coming our way. The sp moved quite quickly following the TR announcement the other day, proving that at the minute we are at rock bottom. Any run of positive news will shift this and quickly.
Setanta, I wouldn't at all rule out the sp surpassing .0.70p, that would not even equate to a valuation of 30M, therefore once the H & W side of the business starts to produce contracts I would not be surprised to see a sharp uplift here.
As every LTH say's, no point in selling at the minute and crystalizing a whacking loss, so hold on tight and for at least the first half of 2020, you might see a very different story unfolding here.
Anyway unless something more happens this side of Christmas that's it from me, off to the sucker now for a jar or two.
BTW, I assume no word from Snowman, anyone?
Mr T
And not the maturest response to filter a candid and intelligent contributor who is not afraid to stand up for his beliefs. I don’t see any signs of abusive posting that deserves filtering. Each to their own nut to me a loss to true debate. So someone has lost faith? Is that so unacceptable looking at the situation and loss involved. Disagreement is normal and average. It’s respectful self-expression. Your loss.
Infa.....you have a lot to catch up on.
I’m afraid Setanta was not wrong...1.28 to 0.28p .
And yes...I wonder if I’ll get my money back...ever. The amount of rides I’ve been taken on in my time...by God I have been gullible. Hard way of learning a lesson.
So...I’ll take a poster’s advice and let dust settle before any decision.
Setanta...keep posting please.
See you next Tuesday, Roderick.
That is all .
Justified from all and sundry. 0.28p and 4 Placings are food for self-expression. Failed deadlines and poor communication. I see both sides here . I acknowledge the faithful too. Large 5 figure loss drives my deep malaise. Just when I thought it was safe to get back in the water. I’ll admit my response has been of anger but I am willing to be proven wrong. So let them prove it in reality I say.
Btw. Nothing wrong with wearing heart on sleeve when considered appropriate. Very healthy. As I also work with youngsters of all ages and have done for 40 yrs .. I will also counter the comment on who are the adults?? I encounter exceptional maturity from the youngest of kids and the most astounding immaturity from adults on lse chatsites. Or in the pub. Or on the parliament bench !!! I encounter astounding maturity from youngsters and astounding immaturity from wrinklies at my age.I meet many immature adults in the world of politics ....trust me!! And in finance ..one only has to read many posts herein at times! Some of the worst immaturity I have ever experienced has been on lse chatsites. Incredible.
I have perhaps been a little immature today in my criticisms but my posts reflected consternation at my massive loss and poorly communicated deadlines.
Along with 4 (!!!) Placings. Who’s to say no more to come if H and W need support??
My response has been valid. As is Setanta’s .And everyone else’s as long as they are not abusive . Disagreement is fine. Immature abuse is not and is all too common. I’ll probably get some now. I assume his is also a large 5 figure loss..don’t know.
It is not just sell or hold. Stick or twist. It is a very serious decision to crystallize very large loss. I’m not saying the business will fail. It might. It might not. But I was a dope to average down this week so am angry with myself for gullibility. And angry with those who have led us a merry dance by fleecing us 4 times only to end at 0.28p fGs. So hats off to all the responses. I’m still mega pi***d off yes. But some wisdoms here. Dust settle . And trust we don’t collapse too far further.
Not a good week.
Couldn't agree more.
I have better things to do than argue with someone who I've never met on a faceless bb.
Have a bit of sense,spud. With the confetti share situation the only ones who can defenestrate the BOD will be Institutional directors. And they will leave before they decide to do that.
And droderick when JW came the company was about as far forward as it is now. but with billions less shares fluttering about.
Yes droderick I have zero belief in this BOD and we'll see if time bears out that judgement. One last point . any holder who is in here at above .7p will never, ever,ever regain the value of his investment and he/she runs a fair chance of getting into the bust category you refer to.
BOD shares held: JW 42m. Arun Ramon 1.9m (no fool he), Malcolm Groat None.Now to the other fish I have to fry!! Good evening.
The BoD have no control over the share price. If the BoD did not have the vision and foresight of resurrecting IM and looking beyond, your investment would be in the delisted and bust category. So its not me, its you who needs to get real.
You clearly have zero belief in anything. No problem, each person to himself/herself. There is no point in having a debate with you, so good luck and go well.
Go and vote against re-electing them to the board then Setanta if you think the whole buisness is going to fail!
I'm betting you and the others won't ...
Wow setanta you sure are upset. Perhaps go down to the H&W yard where JW and team are probably working through Christmas while we call them scum and criticise the life out of them. Nice.
You are right si_derman about the placing, but undoubtedly placings are nobody’s top choice. If JW and team had zero shares in the company one would assume this is the easiest route for them. As that is not the case, and they stand to loose equally, it is fair to assume that they have valid and strong reasons for their decisions. On the bloody shipyard, I agree that it might be a very good move indeed. Someone said in an earlier post that they expect it to be back in administration by 2021 - most unhelpful speculation unfortunately.
Hi, as far as investors are concerned the main event of the past year has been the reduction of the SP from 1.28 to .28p. Just what investors love to see,don't you know. An 80% loss on their investment. So we shouldn't criticise. Get real, droderick.
A chairman was supposed to be appointed by now. No announcement. incompetence and cause for criticism.
I don't see any floodlight ,droderick, I see a can being kicked down the road by a bod that , for me , lacks credibility.
My criticism is voicing concern at my large losses here and calling out the BOD which has oveseen those losses. This is certainly not what I was led to expect even three or four months ago.
Lastly, I have never thought the H &W investment was a good one. It's a small time failed shipbuilder coveted by someone because he had been involved in such activity before. My guess is that it will fail again. My guess is that the IM project will probably fail with it.