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Ridiculous statement
Project Update 9th May - "InfraStrata continues advancing its studies for future project development opportunities on the potential FSRU (floating storage regasification unit) opportunity and additional caverns, moving from the concept development stage to a feasibility study in the near future. "
One way of looking at this is INFA doing what they said they were going to do.
JW has been promising expansion and here come the possibility. There are a few points that may need stressing.
1. the deal is only at a due diligence stage. Nothing will be decided for at least three months by which time we will have received the EU funds and the situation in relation to the marine licence project funding etc,. will have been resolved. We will also have a new chairman and probably a couple of new NED's.
2. By the time a FId maybe made in relation to this project,(if INFA decide to go ahead),the Islandmagee project will have been completed and will be be providing revenue.
My abiding mpression is thet INFA is beginning to shape up like an important company in gas storage and that is hardly the stuff of AIM minnows. That I like!
Yes noodlesoup,(and longlad before you), I am very keen to see clear evidence that the marine licence is granted and that the equity provider is on board, but I still have maximum faith in JW. What a good time to buy, especially for new investors!
Project Islandmagee if a very viable and potentially very profitable project but it is facing hurdles with Marine license. While many on this BB argue leaving EU is not an issue i believe it is. PCI status greatly helps the progress of getting the license. While we may still get the grant money from UK gov already promised by EU if they dont pay we will lose status of being a PCI project on leaving EU. This i believe will be great setback to getting approval.
I strongly disagree that the market thinks the main project is a non-starter. Sentiment is for quick profits and this therefore is not the right stock to be invested in for those types. The project is most definitely commercially viable.
Mkt sees this as desperate attempt to find new project. Mkt believes Islandmagee is non starter at best facing long delays, will not get marine license. So JW looking for diversions. Many Bigger companies have rejected FRSU project offshore UK. Why would INFA be successful when much bigger companies have rejected. Signing up Vitol achieves nothing unless have marine license. Only JW knows what DAERA are saying. Losing status PCI status when leave EU will greatly hinder attempts to get Marine License IMHO. i fully understand mkt reaction today. I hope this is not reality and that all is progressing but I am fearful for my shareholding.
If Vitol think it will work and will fund it, which is what the last few RNS allude to, allowing us an equity stake then I'm happy for JW to run with it.
Nobby, JW has a lot more sunk in here and bought on market.
As for longlads prediction of throwing in the towel, absolutely ridiculous.
Latest RNS tells me sadly BOD have lost the plot. They are trying to fit 2lbs of **** into a 1lb bag and should be 100% on ISLANDMAGEE.
Let me explain (to them) the FRSU will not work; I’d did not work for EXCELERATE (RWE) at Teesside and will not work at Barrow. If there was any significant commercial merit in such a scheme one of the majors would have got after this sometime ago.
BOD strategic and communicating skills are now officially highly Suspect. I have 31 million shares in this company and am now seriously concerned for my investment as an LTH
Long,
Throwing in the towel!!!
Well recent RNS’s would suggest otherwise, why on earth would you pursue a deal with Vitol for offtake purposes if you were throwing in the towel. Just think about it?
Meeting with Vitol, right are we signing the agreement here are the plans which you have studied ad infinitum this year, all the numbers stack up, everyone happy to release the news of the deal? Yes all agreed let’s sign and release the news!! Done
Oh hang on a minute, Vitol say, Is JW about to throw in the towel? Ah never mind still agree to the deal and sign up!! Oh and by the way also state that Vitol look forward to working with Infa on further projects going forward despite the fact JW is throwing in the towel?
Behave please Longlad.
Mr T
Seems to me like a hedging of bets strategy at Infa now.
Certainly got 'BIG' plans these boys, and the management to pull it off! Was a holder here when AP et al took over from the former BOD. Seem to have some very good and effective people in the team now. In fact was thinking of coming back in. Sort of remember at that time there were 350m odd shares in issue, now seem to be 1.3bn. No wonder not much SP movement since when I left despite all that has been achieved. And possibly more shares to come according to the todays RNS. I wonder....?
Why on earth would the market see this as a delay on Islandmagee?
Tidd
I think the market is saying JW is throwing in the towel on Islandmagee, or at least expecting significant delays and the other projects as desperation.
This has been a catastrophe all year.
Agree MrT, have been saying the same thing.
The valuation here is now ludicrous, the completion of FEED is worth much more than the current MCAP. If as JW has alluded to they regain back costs on funding thats some 120% rise alone from the cash portion of the rebate ignoring all else.
I don’t think Mr Market liked this morning’s RNS!
The reaction to the sp makes you wonder if we are living in a parallel universe to the market, we have just signed an binding term sheet offtake agreement with Vitol, although has to be verified, we are in advanced discussions with equity and debt partners to facilitate the project and as we have been told, are in negotiations with a view of keeping a percentage of the project, and managing the project , we then state we are looking at further projects, and then announce that we have indeed found one, and the market doesn’t like it?
My view is that we need to focus all of our resources on Islandmagee at this stage; we have limited funds and a small management team? Surely the emphasis should be on Islandmagee at the minute and nothing else.
I agree that new projects is a sound course of action, but, at this stage, no, although I do agree that if opportunities arise then you have to take them, providing they are the correct decisions.
The sp is now getting beyond ridiculous, JW and the team need to address this situation urgently.
Mr T
CAPEX investment of approximately £250 million to £400 million with a construction period of approximately 3 to 4 years.
Link to port meridian, the other party in the agreement. Plenty to read.
https://portmeridian.com/about/
Might not run out of gas after three cold days with this installed.
Thanks Setanta ..think I’ve peaked now after winning most improved walking basketballer (sic) at the weekend
Anyone thoughts on the current level to add some.
Radders99, nail that post up somewhere so that it can be seen by all current and possible investors. That says it all. And we'll be seeing the back of SI as one of our brokers next month. Pius we'll be getting some EU funds.
Less conferences, investor evenings, and interviews to state and restate what's been stated several times. We await the good solid news.
are they buys or just some movement between accounts - looks like contra entries for both. Some really good posts over weekend helping to explain this rather odd time, good news released and then free fall. So order I assume is going to be Equity Funding, New Chairman, Marine Licence (still not 100% clear on whether this is first or last in terms of dependency), FID = increase in SP that wont be held down by MMs
Looks like a roll over \ Transfer imo.
Two good good buys 2,500,000 shares a piece. Confidence is building?