The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Look good.
Tidd,
Absolutely correct.
Look the licence is an issue, but, it is an issue alongside all of the issues in getting the project to a certain point, too much is being made of the licence, I think the mischief makers have latched onto to this and attempted to blow it up out of all proportion. Yes an issue but as part of the whole project, it is no more an issue than the offtake agreement, certainly no more of an issue than the financing route and no more of an issue than receiving the o/s EU funding of 1.6M due very shortly.
Mr T
When the contracts hit and they will, this will fly.
Just look at all the director buys not long ago
Looking promising isn't it.
Project Update
InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, is pleased to provide an update on recent progress with the Company's Islandmagee gas storage project (the "Project").
The Company is at an advanced stage in negotiations with the final two potential offtake partners and the board of InfraStrata believes these negotiations will reach a conclusion in the near future. It may be that InfraStrata is able to secure an offtake deal for all seven caverns (phase 1 &2) rather than just the two caverns originally planned for in phase 1. If this is the case, FID (final investment decision) for phase 2 (five caverns) may be advanced by approximately 12 months from Q4 2020 to Q4 2019, with the knock-on effect of this that FID for phase 1 is delayed by six months to end 2019 due to phases 1 and 2 being addressed together. However, overall this would represent a six month improvement on phase 2 FID and bring the benefits of a larger project than phase 1 alone. However, this is still only another indicative scenario and the final terms and timing of any offtake agreement cannot be guaranteed at this stage. Once an offtake agreement has been signed the Company will be able to provide details of the final agreement and an update on dates for FID.
If the scenario materialises where further up front work is required to undertake FID on all 7 caverns (phase 1 & 2), a convertible loan facility may be provided by a potential equity partner to seek to ensure that the first gas date is not effected and the Project is further de-risked.
In relation to the draft marine license, InfraStrata has now provided the relevant authorities with the final draft reports requested and following feedback received, the Company is currently in the process of updating these reports and will re-submit them to the relevant authorities shortly. As previously mentioned, the Company sees no reason that a full marine license will not be issued for the Project in due course.
The Company has now submitted the final EU application for the FEED study that was completed last year and the sum of EUR1.6 million is expected to be received in the next 8 weeks from the EU. In addition, the Company is looking to submit applications for additional grants for circa EUR8 million in relation to FEED studies for the reverse flow of the existing Scottish Northern Ireland Pipeline (SNIP) (in conjunction with Mutual Energy) and twinning of that pipeline.
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. In addition, as previously advised, we continue to evaluate other potential energy related infrastructure projects, one of which is other potential salt storage opport
The lowest of the low
I've bought in now so ignore all previous bullshit.
Draft no it isn’t.. the license was formed in draft to allow for the workstreams to progress during FEED. The findings of which are being submitted to form the full and final complete license. You are comparing chalk and cheese.
NT to buy for small amounts on HL currently
?
Of course the marine licence is an issue tym crashed after no reindeer permission
I second your thoughts. The RNS should have been released prior to the meeting, that being said I think there is a lot of noise about nothing. The share price is causing the poor sentiment and it’s a vicious circle. The marine license in itself for me is a non issue and all findings sound as if they are well within margins. There is a lot of news in the pipeline to come and the company are still working on all channels.. timelines slipping is all part and parcel of the game I would be quite happy to pull financing for all seven caverns. There are a lot of moving parts but ultimately the project is progressing as planned. The MCAP is currently circa £9m at this stage which to me offers a hell of a lot more upside than down
The term "schadenfreude" comes to mind with every one of your posts Mitch.
Yeah, it could, so what. Then again...
And I guess you would have bought back in at the lowest point.
Good luck with your investing. We all have differing stratergies.
Regards, Si.
As far I can see and know, spud posted on this board only a few day's ago, and hasn't posted on any board since yesterday. People do live other lives apart from LSE chat boards and therefore I'm sure he will pop up on here soon enough.
Mr T
Snowman , you touch on a good point, at this time the non attendance yesterday and subsequent lack of commentary from Mcadder and Spud is a concern - were they today's big sellers?
70 posts in one day ..Let's make it 80+ ...all positive please ..we need a blue start tomorrow not merely to st**f the shorters !
Well said Mr. T......go well.
Snow,
I get why you are a little flustered, however these projects take time and lots of it.
In respect of your comment regarding EU funding, this from RNS 7 March 2019
We are in the final stages of preparing the final funding drawdown submission for the FEED studies that were funded on a matched basis by the EU. Our draft submission is due to be audited in the next 10 days prior to its submission which will enable the final balance to be repaid by the EU. We continue to work on our submission for the next round of EU funding.
Therefore the comment that this should have been in the coffers by now is a little over anxious. Have you ever attempted applying for funding? I'm afraid it doesn't appear overnight. These funds will be paid I've no doubt of that, eventually!
Look I agree this RNS should have been released prior to the meeting, trouble is as people have pointed out there are only a few individuals involved in the running of the company, obviously to keep costs to a minimum at this stage, so I suspect something was said that probably should not have been said, and yes they then issued the RNS to clarify.
I would rather stick with the current team in place rather than employ Pro's as you say, that would only increase overhead costs at a stage when it is not what is needed. Once the agreements are signed then you will se an influx of personal to manage the next stage? in fact someone flagged up that issue on here a while back, positions to be filled!
I agree we have not had a very good period since the turn of the year, from the sp rocketing to over 2p we are now basically back where we started, not too good I agree. What I would say though is that this period has been the most difficult for the bod, dealing with these types of negotiations with probably much larger players than INFA is not easy and this in my opinion is why it is taking a lot longer than most investors envisaged at the start of the year.
Look at SXX for comparisms and how many year's their negotiations have taken and they are still many year's from production, a much bigger project but gives some idea of how long these things take.
I would certainly not be selling at this stage unless you are a day trader, in fact I would be and will be buying when funds allow at these rock bottom prices, in fact I wouldn't be at all surprised to see a rise tomorrow, if not tomorrow then very soon. As always a string of positive updates will help, if and when they appear this will go a very nice run again.
As I said, patience is the key.
Mr T
......'RNS out basically covering everything the attendees
very kindly updated us on - I feel this should have been released before the meeting but hey ho - reads well'.....
I don't think it reads well at all..........IMO it was an unscheduled panic release and it is as woolly as hell (not unusual for AIM RNS's) full of if's and maybe's............and STILL mistakes in the presentation regarding number of caverns....they need a chairman and a team of pro's ....... and someone to construct RNS;s......and they need them pronto!.....sounds like we are getting the runaround in negotiations from several parties.....happy to be wrong.
The negotiations should have been wrapped up long ago......The EU money should have been in our coffers long ago.....the marine licence should have been sorted long ago
I'm now not surprised that Mcadder and Spud, not to mention Graham Lyon disappeared!
I was number one fan....but this is not going well at all.....after that RNS I am now at a very low ebb....again, happy to be proved wrong.
Sorry if it puts a damper on some people's views, but I certainly am not convinced.....and .if everything is hunky dory, then no harm done!.....short term fluctuations won't matter a whit if the company is in as good a position as it states it is and it's important that these points, and others, are aired.
Evening All,
My take is that the RNS released tonight should have been released yesterday before the meeting, it does contain information that should have been put out for everyone to digest. Having said that much of it is speculation on what might or might not happen, and it's plain for all to see that negotiations on several fronts on still ongoing. Maybe some comments were made at the presentation were made that should not have been, I'm not too bothered about that, my view is that the people who actually bother to attend these events at their own expense are entitled to a little extra information, after all, the information is not exactly earth shattering new stuff, is it?
I doubt whether releasing the RNS beforehand would have helped the sp, it appears that the mischief makers have had a very good day in sowing the seeds of doubt!! although looking at the trades buy's outnumber sells? nonetheless a little bit of negative speculation always does the trick to ensure those who want to get the sp down succeed!!
I will live with the drop today, short term in my view, and an excellent opportunity to either top up or get back in for those that may have jumped ship. The market does not like delay, although in this case there is a delay or maybe! but there is also a moving forward in respect of the bigger phase, (Five Caverns) so for me this is all good news and will certainly speed up the project as a whole. Plenty of cash coming in shortly and confirmation that an application is being made for further EU funding. Yet more positives.
Overall another good update, people selling now will live to regret it in my opinion, as within the next few months the sp will be well over 1p.
Mr T
Tony it's one day!
Ok you're a developer building 10 houses and you're selling off plan. Developer would bite your hands off if you offered a good deal for all 10 at a discount to individual sales. The houses don't exist yet, the eventual sale and exchange of contracts might take a year and in that time each individual house has gone up in price by the time the sale has gone through, remember you bought at a discount for all 10. CHRISSAKE!
and another thing which i feel is relevant and was discussed last night. The regulations are thorough, EU and by proxy British, in regards to how much of the elements that make up salt dispersions into the sea in the form of brine are controlled, quite rightly. There will be two remote monitors floating on the sea above the brine outlet with "tentacles" sensing and feeding back automatically to the controlling body Daera and to Infa as to the concentration of the elements in the flow. Too much, flow slowed or stopped. Remember outlet is 100m under the sea surface with fast flowing currents. In fact, regulations in the US are so lax that a company was allowed to pump brine into a river. Consequently, all of the wildlife died. That would never happen here
Yup agree, excellent update; and the 1.6m equates to roughly 15% of m/cap. Cashburn approx £30k per month only. JW has always run a tight financial ship. ATB
Aunty that analogy is appalling, how can you compare someone selling 10 houses that metaphorically exist as opposed to 7 caverns that don't.
A bird in the hand is better than 2 in the bush is more apt.
What the RNS states is what was seemingly said last night, this saw the share price drop 12% which speaks volumes.
I will sleep on whether to continue with the all or nothing strategy.