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I have enjoyed the discussions recently. I guess we all continue to learn from others. Some interesting points and we should remember that nothing in life is perfect. All good things come with other things that some aren’t pleased with. At the end of the day we invest where we think there is more upside than downside. I trust the value proposition on offer with Infrastrata. I trust the governance structure. I Am very pleased that 100% ownership of IM has been maintained during the difficult times. Sure there were some compromises made to keep it this way and we need to consider what the value differential would be if those compromises had not been made. Keep up the good natured discussion. I remain convinced there is a lot more value to be had and I will stay around to enjoy it materialising through a good BoD with a good pipeline of additional projects to be formalised.
Article on decarbonisation of the gas grid
Mentions Hydrogen and CCS 2 possible future projects for INFA
A substantial ownership of approx. 85.86% in INFA is held by the general public. With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including
and the appointment of directors. They can also exercise the power to decline an acquisition or merger that may not improve profitability.
I also stutter lots when I speak - hope you don't mind at the AGM ?
I get your point truely i do "Setanta!"
Maybe I should have let you all know when I joined "LSE" - 3 years ago I was victim to two hit and run road accidents - I myself notice more after posting some text is misaligned, spelling errors or grammar
BUT the message is reasonably clear
Sorry to say so but I frequently have problems understanding what you are posting about. i am referring to the English and the syntax. And you do tend to post at length. I guess it's your right but I expect you want us to understand.Your last post is a perfect example. "....that we are at present that have progressed that far with FEED completed."
Good discussion today Mitch and you have helped me research a bit more!
Hope you get satisfactory answers to your questions on the 31st.
I look forward to your opinions of the bod, imo they are "legit" as we kids say ;)))
That's a good point and can be noted in the said chart that we are at present that have progressed that far with FEED completed.
Nobby is better to talk about this but I believe seasonal storage intrinsic value is no longer economical? These facilities have been planned for years and non have advanced to FEED
I take on board your points there Spud.
Sure there must be some form of need, otherwise why build such complex facilities?
I am all in favour of our project 100% and if we have capacity to extend as far as possible in the qty of caverns, that is fandabbydossy. I am particularly interested in the twinning of SNIP
Deborah and Baird would be seasonal gas storage sites (like rough was)
Inject in the summer, withdraw in the winter. These type of facilities do not have the fast acting flexibility of salt cavern MRS facilities like islandmagee.
Centrica have already stated they are not going to proceed with Baird.
Gateway caverns are off shore and require 24km of pipe, electric and control cable to be laid below the sea, also a platform at each cavern. I can't find even approximate costs for this facility but imagine a lot higher than islandmagee?
We have first mover advantage which is a massive positive imo.
Also, imo, a 23 cavern islandmagee would almost negate the need for Gateway.
A lot of questions for the AGM
Of course our guys do a good job ....that's why we py them their salary
Spud, to answer your question - No I have not just noticed and am fully aware we have many outstanding warrants.
I have noted on occasion people here on the BB wondering maybe even moaning with comments not far of “Christ when is this going to end” as the SP takes a dip whilst the SM recalculates the SP and in their own state of mind reflecting thoughts “when is this going to end” Some even replying well a certain priced option expires this month, seems to be a topic people talk about.
That shows concern in my eyes, from my fellow shareholders.
In a previous message I did mention that the raising of funds via options to third party organisations an acceptable method for a non-cash generating company (current position)to raise funds. (Not in those exact words – I believe I said after a string of text “AND I’M FINE WITH THAT”)
W & O sure there are always positives along with the negatives in life and in business. The guys that WORK for our Company when planning a raising of cash via a stock placement of other do you for one moment think they only plan for the immediate cash they require? NO, they don’t they factor in contingency and this will include things like wages (proberly the first item on the list, AND SO IT SHOULD BE) so why can JW just decide to take discounted shares when the company has the cash to pay him.
W & O as you can noted on page 7 bottom right hand corner a list of intended gas storage projects – within the lifespan of Islandmagee there will be other large facilities coming to market – how do we intend to lock our (then) customer base into of facilities? A real question for the future of IM - A question for the AGM
THERE needs to be stricter control on this, the remuneration committee is made up of internal staff that basically can do as they wish when it comes to taking shares or warrants. Remember they get a salary which I am sure is a tidy sum in the first instance. WE need to redefine the controls on this as follows;
i. The directors have the consent of the shareholders to issue shares with warrants attached as and when appropriate in order to aid the company to further progress.
ii. The directors can-not issue warrants or options to buy at fixed market prices whilst the company is in advanced financial talks (insider dealing)
iii. Such warrants issued to directors for performance should be approved by the shareholders at the AGM
And retaining the other two "main men and BODS " too --I fully agree with your views and helpful info as always here,Spud .JW and team are working their socks off and have been doing so for 12 months or so.They are happy to invest and take rewards later when the Company can probably afford --good positive planning.We just cannot afford to lose any of them
There is a strange analogy here with the Chairman of an infamous airline from across the seas --he took very little reward in the early years of the company ...then look what happened !!
And my view spud isn't different to yours. The remaining warrants are not of huge importance given that they have two years to run. I can name one director and three private investors who own as many shares in the company as those warrants represent. None of them,(us), seem to be in a hurry to sell. There is just too much positive news which will be delivered in the short term to make a sell sensible. Yes we are going to make a lot of money here and so are those who start their investment at current prices.INFA represents a rare investment opportunity. But everyone to their personal choice. Go well, spud.
I don't know much about charts, but from a novice point of view, if you stick it on 3 year and 5 year, looks to me like perfect bowls forming at 2.5p and 4.25p !
As I say, don't know about charts, but it sure looks good!
Personally, I think it will go far higher than that and long before we expect it to !!
The darkest days for Infrastrata were last January when the company were forced to raise funds quickly to satisfy the auditor to allow accounts to be signed off. This resulted in the 0.3p / 0.6p placing (heavily discounted ).
The share price ever really recoverd from this due to lack of progress .
SI Capital placing at 0.24p / 0.48p (not heavily discounted at the time) gave us the funds to complete the FEED.
The warrants were a necessary evil to allow a, at the time, very weak company to progress. A positive being we have managed to keep 100% of the project so far!
The existing 0.48p warrants have over 2 years to run so we won't see large dumps as we have seen with the 0.6p ones. Imo
A quote from Graham our chairman.
"It is important to recognise the progress Infrastrata has made over the last year where John Wood has been key to the Company's success. These long-term incentives, along with cash and share based remuneration are designed to align shareholders' and the Company's interests in retaining our key employees to deliver a successful Project over the next three years."
It's all about retaining the 2 main men!
What would the sp reaction be if JW stepped down because he was offered more money somewhere else??
Yes JW will become a lot wealthier over the next 4/5 years but maybe we all will too??
Mitch those warrants were issued last April If you've just noticed that's very poor due diligence on your part imo
Well posted O& W. Also worth remembering that there were more tham 240 M INFA shares traded this week alone. . So two years to see the back of about 150M warrants represents a veritable trickle. My guess is that the remaining warrant holders won't be in a rush to sell very much of their holdingd. Just too much to gain here.
Whist you are concerning yourself with a potential 13.4% warrant dilution over the next two years, consider this, on the other side of the ledger:
1. Company-based hints that the IM economic life of caverns could be extended from 20 years (in the NPV calcs) to 40years
2. Company-based hints that the number of caverns at IM might be extended from the initial 8, to a total of 23+, with Project 2.
3. A successful grant award of up to EUR40mn from the EU to construct the first 8 caverns.
Best not to accentuate the negatives without considering the undiscounted positives, eh?
wow that's still alot of outstanding warrants 149,893,951 (approx 13.03 % of issued share capital) thats mega for me to fator in on my spreedsheet (got to insure I'm not diluted as we plod along, now)
The AGM should be interesting
A good bounce today.
Bearing in mind we rose 9.15% another 3 x days of similar rises next week would out us back over 2p. We had a number of consecutive days last week with similar rises (hence the herd, traders and profit takers), so not unrealistic in my opinion.
Its also more likely we would maintain a 2p level next time so plenty to look forward to next week.
Yes overall a good end to an interesting week.
I didn't quite get my prediction of 1.7 but I was in the correct direction.
Next week maybe? getting closer to the next piece of news so should see some momentum next week.
Have a good weekend.