Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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sji2671. Thanks for clearing that up. It's what I suspected but glad someone with much greater knowledge and experience could confirm. You have to wonder why do they post those BUY/SELL figures if they are wildly inaccurate??
Quote from CEO John Wood in today's Larne Times news..........spread the word!
“Our intention is to reassure the public that this proposal uses tried and tested technology, is safe and has very low impact on the marine and land environments.”
https://www.larnetimes.co.uk/business/islandmagee-energy-company-to-continue-meetings-1-8925884
Re: Sold/Bought - those numbers are just algo guesses based on mid price not actually what happened.
The MM's widened the advertised spread by raising the Ask to 0.70 first thing which made a lot of the real 0.65 buys look like red sells. Discourages spread betting during higher volume.
Setanta...........just the man to explain today's MM's games/trading????
SOLD - 21,827,765
BOUGHT - 12,357,187
SP - 13.82%
Plus that after hours posted £19K marked as sell (but I think was a buy from earlier in the day)
Looks like a brilliant summary from last evenings meeting. You should be writing the RNS's, ban. Thank you very much for such a comprehensive report.Go well.
Quite right tidd! It certainly sounds as if the next project is taking shape too (nascent stage though it may be).
And to think, only last week sentiment was dreadful, and I for one, couldn't face looking at the size of my paper loss.
Just have to ride it out and trust your own investing rules.
Harry, don’t forget to add in the revenue stream for project operations/management. And this is the first project, it sounds as if a second is in the wings.
Infa will receive everything already invested at project level, roughly £14/15m. This equates to 1.08p per share (I bow to Smudgedan's calculations here).
Plus £1.4m EU rebate for FEED.
The great (and potentially most lucrative part) is what % does Infa retain of the equity in the project, and how much can this be valued at?
No. It's just the volume and demand in trading. They have to slow it down a tad to cope. You see it all the time. There's nothing fantastical or imaginary about it I'm afraid
AND..............the last time INFA had price monitoring extensions was at the peak of it's recent SP high this January. But hey, it's probably just a coincidence, eh?
Just doing some research and read something interesting:
"Another reason for a price monitoring extension could be the release of news that has a sudden and significant impact on the price that investors are willing to pay for the company’s shares."
Perhaps the MM's have caught wind of leaked or imminent news? Maybe they are circling the wagons for the forthcoming onslaught? Intrigue and excitement all round...........bring it on I say!
Definitely!..........the beast is about to be unleashed!!.......share price about to go into interstellar overdrive!!!
Thank you so much for your precise notes from last nights meeting which sounds like it went well hopefully they can soon agree the number of years 12 or 15 so things can move on.Looks like a time to top up at these low prices provided people are prepared to take the known risk.However compared to some of my Biotech Shares INFA would be regarded as a gold plated investment.
Ban,
An excellent summary thank you very much. I bet JW is indeed with the sp, aren't we all!!!
As I said previously it should not be this low, but we have to accept the current MV as that is what it is as far as Mr Market is concerned, but I'm certain it won't be at these lowly levels very soon.
Good luck and thans again.
Mr T
Ban. That is some excellent note taking. Music to my ears...........Well done sport! Can see a lot of FOMO going forward. Maybe time to add to my 5mil.............
My notes from the Leeds Investor Evening to ensure clarity for all investors.
Main catalyst is offtake, equity and debt will follow quickly after. JW admits his credibility is on the line and his full focus is on this deal. There is no delay on these key aspects even if a deal for 7 caverns is converted - this has been driven by the partners and not Infa. 12 year term currently discussed, but Infa are driving for 15 year term. Arun has spent this week with lawyers to negotiate this through. It sounded likely that this is why it has been delayed. It will be announced when signed and will not wait for a 7.00am RNS if all in place.
New Chairman will be appointed in 2 months, once key catalysts have been converted first - offtake and equity. JW has spoken to a few high profile candidates that will be able to guide Infa to the next level. The offtake and equity need to be sorted first to show Infa is serious and can deliver.
Investment to date will be recovered in full, in one block or in instalments, dependent on the chosen offtake partner. The investment to date is currently confirmed at £14.5m, but likely to be slightly higher. The funds will go straight into the PLC along with €1.6m EU funding and any fees for construction management - all debt sits at project level.
No need to submit another ITT tender for the 7 caverns as already asked as part of the original tender process.
Income generated early next year - Q1 2020 through a project management fee.
FID = offtake, debt/equity and EPC - marine licence not a component part of FID - offtake and equity partners are not concerned and not part of the discussions. JW mentioned contingencies in the unlikely event the marine license was not awarded. Brine dispersion well below levels that were documented in the draft marine licence - all conditions met and fulfilled - no concerns with this. Next meeting with DAERA in 10 days - consultation will then follow. JW has a very good relationship with them as Infa have gone well above expectations, even a 3rd party analysis of all the tested samples.
FSRU potential project a key driver for offtake partners and will support with the investment to deliver this. Feasibility study currently taking place.
Feasibility study for 15+ caverns just completed by Evan P. The results are very favourable and JW seemed happy with how it’s progressed
New salt cavern opportunity in mainland UK, although this is very early days.
Very frustrated with SP and are in a closed period, so can’t take advantage or influence.
I hope that helps
Ban
Dear Naz. I told myself many moons ago I'd never entertain your daft posts..........but this just takes the biscuit!
That has got to be the most irrelevant and nonsensical post ever, at least on this board!! Stop smoking that stuff!!.....Please!!
Hopefully we’ll have an explosion, during your next flight! Only kidding Naz, please stay safe.
Have had personal flights over site.
Nice view.
What would happen if gas leaked or en explosions who would pay for damage.
Ticked up on those buys
Blue
Is blue! Seems the market's waking up to what lies just ahead for INFA.
If I know Spud, the only chance he'll be selling is well after this project goes "BOOOM!" He's been here too long and worked too hard to do anything so stupid as sell now.
INFA promoting open days suggests:
1) the company is being professional, respectful and proactive to get the Islandmagee community "onside" to minimise any potential resistance to the Marine license.
2)the Full Marine license confirmation process has already begun and INFA is complying with the preset DAERA requirements.......no time is being wasted. Multiple work streams as JW would say.
Could go large on offtakers confirmation