Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yep
Thanks spud! So they've been involved with the H&W, not the IM project?
https://twitter.com/JulianSmithUK/status/1178914250783383552?s=19
Yes! Fantastic news. Massive team effort from @InvestNI @GRobinsonDUP and unions - with tx to @BorisJohnson for support much more to come https://t.co/xXKpHHLeXQ
Invest NI have been involved from the beginning
@Tango Sure thing, if it's free - it's for me :) However, such money shouldn't be part of your business plan unless it's been granted and you're legally entitled to it (like the 1.6mil EU grant). In the context of that mysterious InvestNI grant, the RNS states as follows:
"If the timing of any of these is delayed or takes longer than currently expected then it is likely that the Company will require additional finance during the first half of 2020."
So I have to ask: when did that grant (which we have no details of) became an integral part of the business plan, to such extent that any delay in obtaining it may result in another round of financing?
Also, wasn't the financing package (you know, the one still pending) supposed to take care of any money issues?
Kibuc,
I have access to the old H & W accounts for the past 5 years, there are 3 companies involved, one at plc level which is the ultimate holding company. Only one of the company's trade, Harland and Wolff Heavy Industries Limited, this has all of the trade and all of the assets and liabilities. There is talk in the accounts of such grants, I will take a closer look when I have time and see what they relate to.
In it's heyday say 3/4 years back it was turning over 50/80 million and making a profit, latterly turnover fell and losses ensued. Hence administration.
Times have changed again now though and I suspect it can be involved with the green energy sector, wind turbines etc which as you know are all the rage, although I hate them!
Mr T
I would take advantage of any grants available to be honest..
Thanks Tango! I'm still surprised to see that such grant is now listed as a pre-condition to avoiding future round of financing. It looks like we went from "looking to take advantage of these in the future" to being financially dependent on it in 6 short weeks.
This was in the 1st Oct RNS:-
Invest NI has advised the Company of numerous forms of support by way of loans and grants that are available for the Facility post Acquisition and management will look to take advantage of these in the future.
Hi Radders
I hear you but it would be nice if the assumptions were clarified as to how this would happen. There have been a few differing views on this board re practicality / possibility of having FID without a marine license. There would surely have to be certain conditions. If there are conditions to a FID then it is not Final right? Anyway, we are where we are and we can only look forward to positive news in the coming 7 weeks.
No I think it is new
I found the website, but I wasn't aware that INFA applied - or was even planning to apply - for any such grant. Did I miss a memo?
https://www.investni.com/invest-in-northern-ireland/support-packages.html
A few potential options tbf
INFA has been showing support at 0.29 and resistance at 0.51. Stochastic oscillator and RSI are turning up.
http://uk.stoxline.com/q_uk.php?s=infa
The 7am RNS talks about "an additional grant from InvestNI". Does anyone here have any details? It's news to me.
Details of an OO to existing SH's at the same price is to be announced, Tango. According to the RNS.
As the book build is complete, does that mean we will not be able to participate?
Setanta,
Believe me this bookbuild did happen in a flash, I have been involved with these in the past and I can't remember a company being valued at the outset less than the raise being completed and being completed so quickly. I for one was amazed at the speed of it, usually these take the best part of a full day especially with the large amount involved.
SXX were involved in these bookbuilds in the past, they were never completed in such quick time nor for amounts in excess of their m/cap?
Agreed, lets wait and see what II's were involved and the level of involvement, should make interesting reading.
Mr T
"Never mind just 500% SP increase to get back to where we were just nine months ago!"
Coupled with a possible increase of over 200% in share issue since that time, hmmm.
Never say never.... BWTHDIK
Hi drodders, reference the appointment of Chairman. If it has nothing to do with Debt or Vitol why has INFA gone more than 6 months without making an appointment ? A blue chip company could make such an appointment in much less time.
As an aside I still don't agree that the H&W acquisition will prove to be necessary or worthwhile. But we'll see!
I also feel that there is still far to much obfuscation relating to INFA. Mention of institutional investors and speed of placing seems to have led everyone to believe that it all happened in a flash yesterday morning. Hardly! also one would like to know what proportion of the placing was taken by institutional investors and,indeed, who they are. That should be apparent soon.
Never mind just 500% SP increase to get back to where we were just nine months ago!
Anyone know how and when I get to cast my vote on the placing? I'm with x o so will be a proxy vote
Going to be interesting to see the details of the OO. Percentage wise to shares held, that is.
As you would have to hold to parcipitate would existing holders be buying now at 10% or more extra or would it just be people wanting to become holders to allow participation?
Would the increase in shares in issue atomatically double our MCap if we stayed around these prices?
Meaning 3.5b @ .33 = 11.6m. That's without any increase the OO would bring.
Never gets boring here, hey!
Hi Loosegoose .. JW has consistently and recently reiterated that the equity funding and FID is not dependent on the Marine Licence being granted. My assumption would be if DAERA have final documentation and public consultation period has started this would give sufficient confidence.
1. FID: We will need to see some speedy and imminent action i.e. in the coming days. 18 days to go in November and 31 in December with a 42 day consultation period. If the notification of public consultation dates in not announced very shortly then achieving FID by year end will not happen.
2. Further, the shareholder vote on 29 November will surely be a non-event since one or a few institutional investors now hold nearly 2 billion shares and we know which way they will vote. For me the vote is a formality.
3. The cost of idle assets at H&W is high with asset maintenance and fixed overhead eating away at cash so either FID must be achieved or new orders must be secured or cash will drain away fast.
4. Time to regroup and focus on the core business.
5. BoDs to keep taking their vitamins to keep up the heavy workload and productivity.
6. It all comes down to the FID of the (core) gas storage project of which details have been rather scarce recently given the focus on H&W.
Onwards and upwards!
Sorry meant to type in subject header “ Infrastrata”. Sorry fat fingers.
Today’s placing will probably be a wise decision by the management team simply because this opens doors for income generation for the company. The possibility of gaining future contracts especially in the ship construction business will doubtless be a game changer. Though there are risks and costs entailed small minnows had to start somewhere in order to grow. Though I am inexperienced in the ways of how companies work nevertheless diversification can pay dividends.
Again I was quite surprised how quickly the placing was completed which demonstrates how much the institutions are prepared to invest in Infrastrata and know the risks involved.
Again I just invested originally in a gas storage company because I liked the idea and believed the UK needed this as some insurance against gas supply issues in the future. But looking at the bigger picture this acquisition is another piece in the jigsaw towards completion of the goal.
I have a small paper loss here and not as large a loss as some investors here, but the phrase “you’ve got to speculate to accumulate” comes to mind.
We may all be quite a while before we see some good gains but you never know what will happen in the future. More good news surely will come soon.
I am in full support of the acquisition and want to thank John and all the team for seeing the bigger picture. Well done and good luck everyone. Let’s see what tomorrow brings us. Blue anyone!!