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Just noticed your most relevant post..usually there is nothing much exciting at weekends when the market is closed. As Spud mentions Aron really is the key what with his qualifications,his background in this very particular field and contact with a major potential off-taker. He is the one to facilitate a major investor in the project with deep pockets and one experienced enough to take on the usual market risk.The investment does not need to dilute shareholders even more --it can be by way of a share of eventual profits from say the first two caverns or long term debt..BUT whatever he negotiates it is important that a group of significant shareholders stick together to be able to combine voting power and fend off any opportunist punter at current values which values do not reflect either the investment made to date nor the huge potential !!.
"Arun Raman has spent the past 20 years within the commodities and infrastructure sector. While at Star Energy Group plc (now known as Petronas Energy Trading Ltd.), Arun was responsible for commercialising its 10BCF Humbly Grove Underground Gas Storage Project, including the negotiation and commercial delivery of the Gas Storage Agreement with Vitol SA as the capacity offtake client. He also negotiated and executed agreements with the National Grid in relation to physical gas flows between the Humbly Grove gas storage facility and the National Transmission System. On the trading side, Arun set up trading desks for natural gas, power and carbon emissions for the group."
Further to Spud's great post...especially the bit about VSA chairman saying...'But it requires quite complicated funding which wont come from normal institutions and that is the whole key and all you need to watch' .
I like the end bit.......'and that is the whole key and all you need to watch' !!!
Infa RNS July 26th .........'Arun Raman has spent the past 20 years within the commodities and infrastructure sector. While at Star Energy Group plc (now known as Petronas Energy Trading Ltd.), Arun was responsible for commercialising its 10BCF Humbly Grove Underground Gas Storage Project, including the negotiation and commercial delivery of the Gas Storage Agreement with Vitol SA as the capacity offtake client. '
Surely it must be Vitol SA that is lined up for Infa's offtake?
Spud. This is a necessary and well-conceived project imo with a first class bod. Have been here since early June, impressed with Infa as well as informed comments. Q4 and early next year will be v.v.interesting and hopefully valuable to all.
Hi spudtheplumber - Great post totally agree & the directors would not have invested in the way they did if they did not have confidence in the project something very rare on AIM which is why this project is rare in more ways than one.Interesting weeks ahead - Only wish I had more funds to add to my mere 1m shares.
I found a quote from JW in the above report very interesting
"The company is in advanced negotiations with offtakers, traders who are "willing to pay to justify the economics of the project", Mr Wood said. He didn't disclose the potential customers, but said InfraStrata planned to update the market on the commercial arrangement in the fourth quarter."
"I say piece of the jigsaw as the funding process for Infrastrata will have to be creative whilst getting all funding partners into place conditional on each other. A partial farm-out to, say a pension fund, with long term requirements for income offset against liabilities would lead to the company keeping some of the project leaving it able to develop other similar challenges in the space. This would avoid dilution at PLC level which pension fund investors would find preferable"
A comment from Andrew Monk (head of VSA capital) I also found interesting
Looks to me like the funding is inextricably linked to equity partners and off takers? JW and GL obviously know a lot more about the deal structure than any of us and they have been buying at levels higher than where we are now.
... Others to suggest how Infa can hold onto a majority equity stake in the IM project, first phase.
I am sure they will use their £11mn expenses already used on the project as a bargaining chip with prospective funders. But Infa will not, cannot afford to, dilute equity too much at this low sp level.
Will a potential offtake partner offer Infa capital to take up a greater equity share than the funds already spent would justify?
The Islandmagee facility is unique in being the only gas storage project in North West Europe to be awarded ‘Project of Common Interest’ (PCI) status by the European Union (EU), confirming its strategic importance to the entire continent. PCI status unlocks EU grant funding, accelerated permitting procedures and incentivised regulatory conditions, further enhancing the long-term viability of the project.
Additionally, the company has obtained support from the governments of the UK (including Northern Ireland) and the Republic of Ireland; and the UK government has awarded it ‘UK Guarantee Scheme’ status, which facilitates access to government guarantees on debt finance for 65% of the project cost.
A nice vote of confidence Dawski. And,petelutton, I didn't mean to draw down vitriol on the heads of the manipulators They aren't doing anything illegal. Also pete, the BOD has nothing to do with this activity. They cannot prevent it. As it happens we now have a BOD which is second to none.
It just beggers belief what these blood suckers are allowed to get away with on the backs of a genuinely critical project and long term investors .. my plan is fir the next 2-3 years so still confident that once up and running this nonsense will be minimal
Hi,all -Yes I am a committed passionate LTH here --no intention just now of selling any of my beauties -the voyage,as our dear friend and sea-farer, Bruceybonus,will say,has only just begun !! The price fluctuation is most odd --you would expect it to be "quiet" in a Closed Period but there have been so many sells of late ..
There are about fourteen investors who own around 35% of INFA That number includes John Wood , Michaek Dawe and Stepen Jones who are notified and who own 12%. Now some other investors have been playing around with the SP for the past couple of months, aided by MMs one presumes. The idea has been to turn INFA into a trading share for a small group of people who act together. I think the relationship probably began in the .24p placing days. and I think the self chosen few have an adviser who may be a broker with in depth knowledge of INFA. I also think that the number of investors is not more than eight. Nothing illegal in all this by the way but it does affect the day to day value of our portfolio.
It has been quite clear that there will be a time space up to the announcements of offtake and investment partners, and in this time space there can be a window of opportunity for manipulipation of INFA as a trading share. It has been seized upon. INFA should be easily above the 1p. mark now if it were not for this activity.
Thanks Builder 12. I invariably forget about Nex. That's a large sell off there in the past couple of days. Let's see if it all leads to a TR1, though I doubt it will. But something has been spurring the selling of the past couple of months despite even the directors buys. One would like to see all this dry up so that we may get some forward momentum.