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I am holding. Not one share sold, but more bought.
Who is that?
'The then chairman may have felt that a sale of Islandmagee would be a good outcome while the CEO would like to keep more of the entity in current hands.'
Could it possibly be the other way around ?....don't JWs 35 million options become excercisable on any type of sale?
Hi All,
I am sure ,based on yesterdays RNS, the good ship INFA will make it's destination but todays RNS was a disappointment.Roll on next week & I still see the INFA share a good risk.
Avyererdowt, your post could possibly contain a reason for conflict between the two directors. The then chairman may have felt that a sale of Islandmagee would be a good outcome while the CEO would like to keep more of the entity in current hands.
Snowman, thanks for the correction. But 3.3p doesn't look too bad from where we are just now.
And jfk9, thank you for the post meetings comment. I'm beginning to talk myself into the idea of a (partial),sell off. Or just indulging in speculation, perhaps. Interesting times for INFA holders, I think!
Snow,
Look at number of shares in issue on both reports, that will be the reason for the differing valuations imo. In 2016 188m, today, 1,332,0000!! hence the valuations then and now. The valuation methodology is under the same assumptions as in 2016, valuation 56m.
Therefore nothing essentially has changed, nothing but the number of shares now in issue.
Mr T
At the investor presentation and agm in post meeting chat RL indicated that they would be able to sell the busines quite easily for 2-3p a share, but that was not on the agenda. That may now not be the case. 5-6p would wet my appetite.
The Due Diligence will be completed in 3 weeks. No bluechip will simply approve such a large deal the next day after the DD is completed. These things take time to navigate through the red tape and bureacracy of a large bluechip. In essence good news (i.e. equity deal) will take much longer than 3 weeks. We keep setting ourselves up for disappointment by thinking decisions in the large corporate world happen fast - they dont.
Setanta, not trying to be negative but ..'The Allenby reports suggests a value of 5p plus per share'
Pg 24 says something like the absolute share valuation has dropped from November 2018 10p per share to 3.3p per share. What page suggests 5p plus ?
Get it out of the way now surely
why cant chairman wait another 3 weeks for positive news before resigning? resigning before news is abit negative imho
Thanks @Si_Derman, great stuff. Always good to try and give back to the community.
There are usually two possible reasons for the sudden stepping down of a company chairman. One is dissatisfaction with his performance by other board members. The other is because he is not in agreement with the intended direction the company proposes to take. Take your pick.
Like Avyererdowt I think it is concerning, but I also think,(like ians1), that it might be a prelude to a sale which might have left GL without a job at INFA. The Allenby reports suggests a value of 5p plus per share. So its all interesting. This month will tell the tale!
Out today: Allenby's new report on INFA valuing the company at £56m with a corresponding price per share (already including expected future dilution) of 3.3p. Un-risked value of £62m with only 10% deduction re FID-risk, i.e. 90% confidence that the project will go ahead, which makes it £56m risked resp. almost five times the current market cap. So, they have a 90% confidence level that FID will go ahead. Encouraging!
http://www.allenbycapital.com/research.html
Hi Kibuc, welcome to the board.
Here is a link to a recent advert for local tradespeople.
https://twitter.com/islandmageenrg/status/1098181002554421249
Plus they have set up a £1m fund for locals to apply for.
And yes, an amicable solution to their issues would be best for all.
Afterall, they are just people like everyone else.
£1m invested in local community projects and every effort to engage local community through consultation and one of local community (Judith) joining the BOD. Agree can’t be taken lightly and need to continue to be transparent which they are. Abuse on either side is not helpful
Hi everyone, my first post here
I've seen some posters here dismissing protestors out of hand. I'm heavily invested in the mining sector and one of the very first things I learned (the hard way) is that operating without social licence inevitably ends badly, with locals disrupting operations at best, and mining licences being suspended or revoked at worst. Finding an amicable solution is always in your best interest, even if you find protestors' claims unreasonable. I'd say dealing with unreasonable should be considered an unavoidable cost of running a large infrastructural project.
I wonder if there are any plans for prioritizing local workforce and suppliers for construction works - that always helps getting locals on your side.
with Infa is that there are still too many people going around saying "The trouble with Infa...! Yes,folks I have said this before but we now have the makings of a vibrant and viable project one way or the other. GL's departure is really a sideshow. He has performed his role and has other business interests to catch up on.There is NO fallout within the BOD.I am assured.
I am aware of some quite vitriolic comments on social media from the group of protestors some even beyond blatant rudeness..Some postings sadly from our side... Clearly this is understandable perhaps when emotions are high but their right to protest and argue their case has to be respected as long as conducted in a reasonable and constructive manner .The project has been in the making for about 10 years plus now and for the first time all sorts of angles of attack are coming up on a daily basis. JW and JD will be prioritising contact with groups of residents and their views and concerns are of the highest priority and always have been.Our argument for the project is lower and stable gas prices for the Island of Ireland and far better security of supply.
Their argument is fundamentally ecological and should not become personal.Lots to dialogue in the next few weeks !! Hopefully we can discuss issues positively on a none too adversarial basis when more facts are known.
Interesting thought!
I wonder at what price?
i have been wondering since the options award RNS if we are being lined up to be sold.
the extended due diligence and todays announcement could lead me to a similar conclusion.
any thoughts?
Yep should be a good month from here - from what I can see we are due about 4 pieces of news this month including things like land purchases
Give shorters a three week licence.
Today's rns was not a problem ,you still got the main man but he done a "ritson"
Own goal I am afraid if you say nothing it's better
Your assessment is spot on IMHO. GL was parachuted in to turnaround this then failing Company which had lost it's direction and was truly in the Doldrums on it's long hazardous voyage. GL has an excellent track record.He has performed his task and assembled a first class BOD .JW himself is top drawer . A P.A. ( Personal Assistant) and other help is now to hand for him.I am assured that we are still well on track for good news very soon ...patience !!
with todays RNS
wouldn't it of been better to release it with yesterdays RNS
Anything under 1p here looks really really good value. I have just topped up again.
Once funding partner is agreed I'd expect this to tick up nicely. imho its one of the better AIM prospects.
DYOR