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I'm glad to note that I am not the only person over the past few weeks concerned about the warrants, mainly those falling into director’s hands.
No matter how hard you all try to convince me otherwise either that or you just don't care because you believe we should hand everything to the directors on a plate as well as paying them a sexy salary.
I'm much better at speaking although I stutter. When I write i tend to loop thought processes.
By careful consideration, I passed my concerns over to the FCA in detail. I await the findings of their investigation, with baited breath!
Yes, thank you, I understand the points you make re Stublach. However I was not referring to Stublach in my earlier mail. There is another one in an advanced stage, not dissimilar to IMSL but onshore & adjacent to Stublach. The economics are better than Stublach.
Thing is that this is the only project one can invest directly in. I’d be foolish to say I had no concern because the other projects are in GB and ours is in a smaller market in NI requiring commitments from smaller companies with less customers. This is mitigated given SNIP will be bidirectional but I’d have been happier if this project had retained its original scope and purpose which was to use IC1 & IC2 such GB, NI and ROI were part of the plan. I bought the extra stock as I’m committed and do believe it will go ahead but with tweet about salt from JW, the never ending warrants along with my original point on this thread have made this a little harder to believe in; nonetheless I’m of the view it will go ahead & the SP ought to at least double from where it is now
Nobby, when talking value, just an observation from Storenergy website it appears that the Stublach project in Cheshire will have 20 caverns (currently 15 complete) capable of storing 400Mcm of gas at a project cost of £500m, whilst Infa phases 1&2 will provide storage capacity of 450Mcm in 8 caverns at a forecast project cost post FEED of £265m. In addition the Infa project will have the capability of switching between injection and withdrawal which as I understand it Is unique.
I was happy to pick up a further 270k very late this afternoon, though not surprising it did take time to settle.
Personally i felt that the BOD have been fairly clear that they weren’t hanging their hat on EU funding it would have been a nice cherry but not relevent in current equity funding negotiations. Dissapointing but not a surprise and pretty sure the key 2019 Project Milestones remain on track. I remain a LTH with no f’n chance of selling anytime soon
Forgive me, total newbie to this bb but have been holding a small number of Infa shares for about 12 months. Don’t know if this has been discussed before but the news of significant gas field of the coast of Aberdeen add to the potential demand for the Islandmagee facility?
STV news reported today that a “Chinese oil company Cnooc has announced a major new gas discovery in the central North Sea.
The Glengorm project could recover an estimated 250 million barrels of oil equivalent - and may be the biggest discovery for more than a decade.
Glengorm sits 118 miles east of Aberdeen, close to Total's Elgin-Franklin and Culzean fields.”
Are you folks aware of the other projects out there competing for the same business? I’m thinking of Halite and another (onshore) Cheshire salt cavity project that shall remain nameless. This isn’t being negative but the people placing their business in particular the capacity holders will be shopping their options to see where they get best value and that takes time as it’s pretty complicated stuff
Mcadder, Always the case on the casino 888 market, slightest negative particularly as the shares have had a recent run up and the mm's will crash the price, exit weak holders, collect cheap stock and drive volumes up. It's a win win for them!
I'm baffled why anyone who is invested and is up to speed on what is happening sold in a panic today, they will sorely regret it!
From the RNS: he initial application was submitted in a tight timescale and since the original submission InfraStrata has been working to refine its application and strengthen certain aspects. InfraStrata has also been informed that a further invitation for applications for the next round of funding will be received by the Company around March 2019 and the Company plans to resubmit its enhanced application at this time.
The Company's existing EU grant for FEED ("Front End Engineering Design") works for the Project is unaffected by the "grant for works" application and this decision. As announced on 5 December 2018, the FEED report has been submitted to the European Union in accordance with the Company's grant conditions and is in the process of being reviewed and audited. It is likely that InfraStrata will receive its final payment from the EU in Q2 2019 after this verification process has been completed
John Wood, Chief Executive Officer, commented: "When submitting the EU "grant for works" application we were aware that we were working against a tight timeframe in the cycle for raising the profile of our Islandmagee gas storage project with the relevant decision makers. However, since the original submission we have continued to progress our case and are very well placed to resubmit our application in the next funding round. We continue to make progress on all fronts with the Project and the fact that our conversations are not conditional on any further EU assistance bodes well for the future."
These things are the norm for start up projects, and it's not as if that is it? the next funding round may well see Infa succeed. Therefore something to look forward to amongst the other news in the pipeline.
We have had some seriously negative news over the past few day's, placing, EU funding, warrants etc but was it that negative? Placing to keep the project on the current timetable and at the same time enhancing the value to Infa, warrants, keep feeding cash into the pot, and then today's funding news, but we are still in there for the next round!
This project will have setbacks but the positives outweigh these by some distance, for anyone doubting, look back to SXX and review the many setbacks they suffered, they got through them and are on the way to multi billion pound project!!
Smooth sailing for SS Infa for a few trading day's would be nice, the calm before the storm.
Wow some were mugged today selling out at .95p.....disappointing update however we move on. We will get there just looks like things may just take that bit longer to get this over the line. Nothing's changed as far as the project is concerned though
Good One Setanta ..there are MM's at play,Shorters at work and leaks at every corner ( much to the great annoyance of JW)... IMHO there are just too many shares out there now --need to consolidate but that is for another day --no distraction from getting the Offtaker Investor on board by mid March ..then we can st**f the Shorters the MM's and the Whistle blowers an the frigging lot of them.