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The RNS's have mostly been very good over the last few months mapping out positive progress with all deadlines so far met ahead of deadlines. However Setanta the only RNS that people want to hear now is the equity funding confirmation on favourable terms for shareholders to get this really moving. If this were to fall to 0.63p I know plenty of investor's ready and waiting for the opportunity to jump in and add more should it do so (unlikely imo given how potentially close to funding I believe we are now). Manipulation or not any dips will get bought into imo so one person's loss (sellers) is another person's gain (buyers). To say that Infa has stood still for too long is true (in the past) but there has been more positive activity in the last few months than over the last few years put together which all leads to the hopefully successful breakthrough of project funding anytime now. All of us that attended last night's presentation Setanta are extremely positive going forward. Was great to see everyone last night (you all know who you are lol). Most of us Setanta are not worried about the day to day fluctuations I'm only interested in where Infa is likely to be in the next 6-12 months. Anyone that assumes however that a drop in the FTSE today will lead to a further drop tomorrow for Infa is misguided or naive.
Loads of aim stocks have high NAV's and promise transformational news which is always around the corner, but is never realised.
Occasionally you get a stock that rerates and you think, only if I was in that at 5 or 10 million MCap. It's trying to find that stock that's the tricky bit. So far INFA have delivered on everything they said the last 12 months. However they are about to enter the phase that's not in their control - financing. It's the part that most companies fail on. I believe they will get it, but right now the stock is priced to fail on financing. If it was a sure thing, it would be £50-100m easy. Here lies the opportunity. That's the way I see it anyway.
I hope he isn't right about our sp action tomorrow, and I agree with mcadder that Aim rarely correlates with the FTSE but he,(Mitch), is correct when he says that " INFA has stood still for too long". The point I have been making is just that. Three months with over 30 very positive RNS's, a couple of brilliant podcasts by JW and not a negative aspect in sight and yet the SP is lower than it was those three months ago.
It indicates to me that either the SP is being manipulated or that investors are so wary that they are treating INFA as a trading share. I think it is the former but by whom and why I have no idea. I thought early last week that it had been "released" but here we are yet again looking at a falling SP. Today we saw a couple of million more buys than sells and yet the SP dropped over 4%.
So don't shoot me ,(or Mitch), when we say that something appears to be amiss. Just gratify us with some logical explanations. We're not all here because we love gas storage but because we want to make money from the cash we've invested.
I was talking to Judith and her husband Stephen last night.
Over the years there has been Ballylumford power station, SNIP, Moyle interconnector, and an oil supply pipeline all on or through the islandmagee peninsula.
Islandmagee gas storage project is the only one that has commited to inject money into the local community via a trust fund.
Mitch - you aren't the first and won't be the last naive poster to incorrectly believe there is a direct link between the FTSE 100 and a small cap stock like Infa which by the way won't be small cap for much longer. Sorry to burst your bubble there but good trying to hold out for .63p
Mitch, In my experience it will revolve around what happens over the pond tonight??? that's all you need to look at and will tell you where the FTSE 100 will open up in the morning. I do not think that the INFA sp is anyway linked to what happens on the main market in any case, AIM stocks are a law unto themselves so I will look forward to a small uplift tomorrow following the recent fall in the sp. Friday usually equals, AIM stocks that have risen over the week A Fall on a Friday, ie profit taking, stocks that have fallen for no particular reason, an rise!!
MrT The lowest price I noted today was 0.65 and the FTSE 100 was not as low as it is now ....Markets indicate prices ..just looked FTSE 100 down as I write (247.83) so I guess we may see 0.63 tomorrw or lower (fractionally)
Proof is in the pudding - INFA SP has stood still to long "imo" that's not good - NOTHING wrong with INFA at all I still hold stock but "imo" markets will slip tomorrow and SP will follow
Me to -I also tried -we mustn't go on meeting like this ! Give us a call--we all really need to tell all our colleagues out there that whilst there was no actual new information all the information about Engineering Design, Corporate Governance,Finance and of course, the general overview of the Company and it's future ( per JW) was in depth, extremely well presented.All very affable and no hard sell required,
Hi Dawski, Great to meet you and all the guys last night. Very impressed with direction and drive of the BoD. Judith was great fun as well and doing superb work with local PR. I just tried to send you a private message but it won't let me because I'm not a premium member. The Snowman.
Confused.Com -hmm ....I meant for Snowman ( whom I met for the first time last eve ) to get in touch -- Sorry about confusion..By the way, YES, I did meet with Bruce from Switzerland --I don't really want to say more about him than he may wish though he must be a most influential Investor here -One of the top dogs and a Member of the BOD of a very large and well known Swedish Carton Maker --there's a clue ..seemed highly knowledgeable about the Company here and very keen -So... here is an important global player flying into London City to see how "our" little tiddler of an investment in a Gas Storage Project is holding up --highly encouraging.. Nice Guy too >
Just to echo Spuds comments everyone found the evening presentation a very worthwhile experience, the recording of which should be on the Infrastrata website within the next 24hrs. Based on NPV figures and reduced Capex the protected IRR figure is now 21.6% which is excellent for an infrastructure asset and will indeed be very attractive to equity partners. The huge overall potential here for Infa and other project's the bod may decide to take on in time is mind boggling. I do believe that literally any day now an update on the project funding could land. JW pointed out again that Infa is well and truly advanced as a gas storage project compared to the other project's around the UK being a couple of years ahead of the game. Therefore not only do Infa have the upperhand with taking advantage of the shortfall in gas storage capacity but if the plans to add another 15 caverns come to fruition then this will reduce the need for the development of further project's that have for years struggled to obtain the required consents, local support, completion of FEED and funding etc. Great to meet everyone last night GLA
Only daft question is the one you don't ask
Infa currently own 100% of the project.
Project level equity means we sell a % of project to provide funds to construct.
Equity partners receive a % of the profit generated by the facility.
This avoids dilution to the plc
Very informative evening!
The presentation covers all aspects of the buisness. For me the explanation of gas trading by Arun was brilliant!
Fairly detailed economics and financials from Andy Duncan. I can't remember the exact figures but npv of around £140mill (10% discount) giving a fully diluted sp of around 11.5p for 100% of the project
(8% discount gives around £220mill)
Irr around 21% makes this very attractive to equity partners (figures are from memory so apologies if out a bit)
Infa will sell down a % of the project
Infa will receive a project management fee
Enabling works scheduled for beginning of January
John and the team are taking a structured approach to growing this buisness imo. They know what they want and (more importantly) know how to make this happen.
The potential 15 extra caverns and the twinning of the SNIP basically replaces Rough!
(And only imo btw will negate the need for any other gas storage project)
First mover advantage for infa is massive imo.