Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Have infra paid costain for work done. So costain can pay the tax or declare any interest in shares
Lol
If costain go into administration will infra pay up to the administrator's.
Do not leave it up to us taxpayers.
Good post dawski37 I agree with all your comments & yes this project is too big to fail as already recognised by the EU who have already been part funding parts of the project.I still maintain it as a 'Strong Buy' only wish I had the funds in order to top up.However I still maintain that INFA should issue an update RNS with a time chart.Regards to all serious posters.
Any update from the company yet?
Perhaps a timely reminder of Allenby Capital's excellent recent detailed Report & Assessment is needed...also that of Total Market Solutions ("TMS") dated 11th March 2019.
The former,I recall, had a valuation in excess of 2p per share ....whilst praising all the targets (inc FEED) being met and the huge amount of interest in Offtake and Equity/Debt funding, the downside of possible further shareholder dilution was also noted due of course to the capital need of the project.However,since then, we have had the "transformational" news of our link to Vitol and other exciting prospects being investigated.
TMS remarked that around 14.5m has already been invested and the January 2019 placing at 1.2 per share certainly helped "de-risk the project and seek stronger equity retention with potential partners" -It was good call by JW and his team at the time.
We just need to overcome the uncertainty over and finally sort the Marine Licence,receive in funds from the E.U. finalise and make the Term Sheet with Vitol unconditional and of course move to FID as soon as Debt and Equity providers are on board,then woosh.. Comrades,we just need all LTH's to hold on.. this very necessary project has to succeed and nothing negative has changed since these two reports and valuations were presented.....both are worth a full read !
I will be adding here, the wider picture with Vitol now underwriting a 12 year off-take agreement at very good rates is an excellent indication of what’s to come.
Paves the way for project funding and back costs which draws the current MCAP alone.
Snowman - your theories on Costain and INFA jumping ship are a little far out, I have never read something so ridiculous.
Any update from the company yet?
Well been looking through protesters site and seems they were pushed back on their perception of the project effecting the Larn lough:- "David Lowry I explained to DAERA rep that along with the brine disposal I also have major concerns regarding the impact on Larne Lough if things "go wrong"
The response I was given was that the intake and outlets were at the other end of the Island and how could anything be affected in the lough?
I was given the impression that this sort of thing isn't even on their radar!"
Aunty
shaylor were working on a large project for my local council, already had done work on a previous 2 year contract and were awarded further contracts, my view is that they hadn't got the cash resources in house to finance their projects as is always the case with many large contractors, and as they were private I suspect cash had been extracted !! You get the picture!
I don't actually know why they took so long working on the initial contract and I would never have employed them for the second contract! Trouble is the smaller contractors have not got the finance for these projects so the medium or larger contractors win the contracts. I'm afraid the local council were to blame although they state they did their due diligence on the finances, its now left a huge hole in an important renovation project which has been mismanaged by our council from start to what will inevitably now be an over budget finish, if ever it is! A right mess.
Mr T
Shaylor cited project delays, same as Costain, and went under because of cash flow problems. Hard to find out how much debt they had, as they are a private company, but they must have been at their credit limit else they could have got finance to tide them over. Their order book was strong with a 150 million turnover. INFA, meanwhile, are on the cusp of signing an offtake agreement for 12 YEARS (THAT'S 12 YEARS!) with one of the worlds biggest companies (it would be 8th on the Fortune 500 Global List, if it wasn't a private company). INFA don't even have any income at the moment and are dealing with a 250 BILLION dollar company! WAKE UP and smell the gas:-}
RNS Number : 5827Y
Infrastrata PLC
09 May 2019
'……….and the sum of EUR1.6 million is expected to be received in the next 8 weeks from the EU'
7 weeks and 4 days gone……should be EUR1.6 million with us this Thursday (or before).
So should be an RNS containing at least confirmation of that by Thursday.
storage filling up as Norway, Germany and Russia plan to shut down their pipelines for maintenance.
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/061419-pace-of-european-gas-storage-injections-key-to-market-balance-analysts
Following last weeks public meeting at which DAERA were present & subsequent reactions on Facebook an update from INFA would now be appreciated JW.
In fact considering where we are now i.e. Monday 1st July at 0.695 & where we were on Tuesday 15th January at 1.775 it would be good to have an update from INFA detailing where INFA are on the various projects they are working on similar to INFA's chart they issued last year
Aunty,
Exactly, in any case show me a construction company that isn't financially secure, Shaylor went bump a couple of weeks back, Costain appear in good health in comparism to it's rivals?
There are far too many other important issues here at the moment to be concerned with, offtake agreement to be fully signed off, EU grant to be received, New Chairman and finance agreement to be signed off? plenty to be going on with.
Mr T
Costain isn't going to fold. It has cash alone of 189 million, a positive net debt of 119 million, profits of 49 million forecast this year and turnover of 1.49 billion! What happened on Friday was an overreaction and in no way affects INFA
Hello everyone
I am new here. Perhaps this has already been discussed several times, if so sorry.
Any impact from the Brexit disgraceful negotiations on the chances to obtain any EU grant for a British(?) company?
a bit quiet today ..where is everybody ? !!
Thanks,Snowman, for your valued opinion,respected as always .I personally am not that bothered at present about Costain's position ..they have a good balance sheet compared with others but need to sort their contracts out.My worry is more connected with making sure that all requirements of DAERA are promptly dealt with resulting in a minimum time scale for finalising the ML.
In the recent. E.U. Application maybe the paperwork was not in order and we had to re-apply ..we really do not need any more slippage because of beuracratic delays !!! roll on the inflow of the first tranche of E.U. Grant funds next week hopefully.
That is beyond uncomfortable.....IMO we seriously need to think about ditching any ties with Costain............we need to be in business with companies that are performing well...it sounds as if Costain could easily be about to fold.....we certainly don't want to be going down with that ship !
No good waiting for a disaster to happen and not being prepared with another company.
The writing is on the wall for all to see.......the M6 and the HS2 are such huge projects that further delays in those (very likely given the current political climate) could easily take Costain out practically overnight.....a tiny project like ours (in comparison) is certainly not going to keep Costain afloat if those much larger projects screw it over.
........ according to the Times Article on Saturday (like all other infrastructure companies of a similar size ) are having a tough time at present with delays on a number of major projects with which the Company is involved...not ours may I hasten to add .Quite a number of it's competitors have failed in the last 12 months such as the likes of Carillion.
However the C.E.O (Alex Vaughan) says
"We have a strong balance sheet,profitable operations and a broad range of capabilities to support the future growth of the business .Our order book has risen by £550M to £4.2 billion over the past year " ...and the crunch point in the article ...
Analysts at Stifel,the Broker, said that the current profits warning was "a significant surprise,given that Costain was a quality operator focused on blue-chips clients .. " Nice to think that we may soon be classed as one of them .At least we shall soon have funds in hand from the E.U. grant to cover Costain's Loan by the end of the year or earlier if FID comes along sooner . "Quality partners" .Nice to be associated with the Upper Class ! Have no worries, Costain will weather the current storm in the sector ..with a little help from Infa !
Naz you're a genius
Naz,
The grant is to enable a people's project so the people of Ireland can have cheaper fuel to heat their homes and cook.
All grant's are taxpayers money be it government or EU .we do not need to give to the richest.
If I am not mistaken our CFO who used to work for Vitol was instrumental in ensuring the Humbly Grove gas storage project developed. Vitol acquired all of the capacity and then contracted it to Gazprom simultaneously realising a profit and enabling commercialisation of Humbly Grove. This bodes well for INFA LTHs.