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If Infa release any sort of good news now to keep Malcy's blog momentum up, we will fly pat 1p this week! I'm sure JW was holding back in Malcys interview so the news can be released in a steady continuous stream. The news I'm thinking of is developments in the financial talks, which to me sound as if the groundwork for those talks have already been done....hints in previous AP interviews...they wouldn't have stood still since then! Happy days! GLA
"Drax will now continue its work to replace its remaining two coal units, with gas-fired power generating units. The Combined Cycle Gas Turbines it is looking to develop could deliver up to 3.6GW of capacity"
Excellent post yet again,Spud --it really does hit the nail and is spot on......As your blog alludes to, just think how much profit could have been earned by the operator had our project been open for business (even say with just two caverns ) this last winter during the Best of The East and high volatility in Gas Prices then following..Wow !! Much to look forward to now that we have moved through the .070P barrier at last today for the fist time in many months !!
'Infrastrata Last week I met with Graham Lyon, Chairman and John Wood, CEO of Infrastrata the UK listed stock which is dedicated to developing the Islandmagee Gas Storage Project of multiple salt caverns. Investors will have noticed that Adrian Pocock, until recently CEO, was responsible for the change of management and fundamental change in the company’s fortunes is staying on the board as Business Development Director. The company fights well above its weight at board level with its CFO Andy Duncan and non-execs Matthew Beardmore and Arun Raman on board.
The project has been granted the status of Project of Common Interest by the EU which opens up grant funding, accelerated permitting procedures and ‘inventivised regulatory conditions’. The importance of the project to both the UK including Northern Ireland and the Republic of Ireland has led to support from both countries and awarded the UK guarantee scheme status, giving access to Government Guarantees on debt finance for 65% of the project cost.
All these things are of significant importance as whilst the technical nature of completing the caverns and making the project work it is the financing that will make or break the company. The first piece of the jigsaw is to get an arrangement with a leading trader who can ensure that the gas is traded with both it and the company getting a fair part of the action. This would also likely secure the completion of the first two of the caverns giving scope for the company to develop several more at a later date.
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.
The good thing is that along with a top quality management team in place a good deal of the FEED milestones have already been met and with a team of industry leading teams as partners work is already well under way. I like the look of the project economics and as readers will know have been exasperated in recent years as gas storage has been ignored in the UK as it is not only of national importance but also incredibly profitable. Just consider how much Islandmagee would have made just this last February when gas prices soared and the UK imported expensive LNG from Qatar and other sources. I look forward to watching Infrastrata over the next few months and think that investors should keep it on the radar screen.'
Will fly on Malcy's post later today....If he doesn't post at all then it can only mean one thing and that is it is because he cant!......all good. Also, a lot of very heavy and very experienced pi's getting quite exited on ADVN about this share now. Not advising anyone but for me personally it's a no brainer to follow the smart money. Suggest following Rapid Dave for great info summaries and look at all the previous interviews and RNS's hints regarding takeovers to make your own mind up as to whether the company is further ahead now . At the end of the day, all investing is a gamble of course....but I'm in on this one....imo she is going to fly!
Indeed --most interesting post ...SS Infa is becoming a relatively high volume traded share notwithstanding the huge amount of stock --there are lot of interested parties here from day traders to Long Term investors to Big Boy Institutions ( such as L&G) Enjoy the ride today ...whilst it lasts but be ready to but in the troughs !!
I’m enjoying these posts. I’m not a day trader but it seems some you really do look into the deep dark corners to discover the really important issues on this stock. For me however whilst it appears a lot of good things have happened the project is still stuck not a million miles from where it was a year ago or whenever the ousting of the Board took place. What fundamentally has to happen for the market and larger investors to truly believe in the value of this stock, (a one project company) is as I’m sure some of you appreciate, for an external creditworthy party to commit to an offtake (storage capacity) agreement of sufficient duration, volume and price such that IMSL can “take it to the bank” and ultimately get it built. As such this story is mainly about the natural gas markets, volatility, spreads and option value in the portfolios of the large energy suppliers who are the logical customers. The issue with that is due to a lack of forward liquidity eg beyond 18 months the market is thin and relatively untested. It is therefore difficult to measure or lock in returns given a 2 year minimum construction time (which I believe to be slightly optimistic given the leaching times and above ground facilities as well as connections to the grud(s)). Not impossible but tough. I do think that things both internally in the company and externally in the markets mean that the prospect of IMSL actually building something is as high as it has been since the project was conceived by Andrew Hindle some 9/10 years ago. I’m sitting with my fingers crossed wondering who that key investor will be? Good luck to all!
According to my new self imposed investing rules, I should be taking profit in INFA now having bought in at .24 and again at .5, but I recall several experienced investors whose opinions I respect saying 'let your winners run' and I feel this may be the first stock I've held since IQE where that applies. INFA was a joke for a long time. It is now a serious company, with a serious board of directors, a serious mission in serious times and partnered with some serious 3rd parties. We've the backing of an institutional investor in L&G, we have EU, UK, NI government support. Our BOD are buying stock on the open market at this level, especially our new, well connected, respected and experienced CEO. We own 100% of the project and we have planning permission. All complementary infrastructure for a Gas Storage facility either exists or will exist in the immediate vicinity and most important of all, it is really needed. In the words of Celine Dion - and I can't believe I'm quoting her - this is getting serious. I remain in.