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John mentioned they were negotiating intently with 3 possible equity funding partners and a 4th one joining the negotiations this week. Later on he again mentions they are in heavy negotiations with equity funding partners and said the next news will be equity funding.
Also mentioned was the debt and equity sums being revised due to the £65m saving on CAPEX and hopes to have the revised sums ready for the shareholder meeting next week.
It's reasonable to assume that very shortly we will find out who our equity partners are and details of the deal. There will then be a rerate of the share price.
It may also be possible givin the new CAPEX that all 8 caverns may now be built in the same phase bringing them online as each cavern is completed.
November/December 2018 was always going to be the time to cut the mustard for INFA. Glad it's the main filling in my shareholding sandwich.
Fair winds.
Official clarification
Potential £65m Capex saving from upper figure used in original financial model
https://uk.mobile.reuters.com/article/amp/idUKKCN1LT2EW?__twitter_impression=true Hard Brexit, soft Brexit, no Brexit if we are successful with the 40mill grant application it's comforting to know the money is secure!
False spread, mm shenanigans Only way to know for sure is if you do a dummy buy or sell at a similar time
O & W,
That sounds tantalisingly tasty!
I'm very envious, Snowy. I only came upon the Infa story in its revamped format a few months ago.
And yes, I too noticed the reference to more caverns after the first 8.
And that "equity negotiations for the best deal" are ongoing right now, as we write.
Thoroughly agree that this is a great buy-in price.
I was lucky enough to buy in at 0.244p, but have picked more up since and still keen to buy !!
So agree with the wow comments great pod cast -in all my years in AIM (Started 25/02/2010) INFA has got to be one of the best shares at what is still an 'at the start price'.As John said it was 'no brainer' when he first decided to invest'.The SP will catch up but still makes for a good entry point as a long term investment.
JW......'then push on with the other 6 caverns........and now we're looking at additional caverns on top of that'......
WoW !!!!
A lot of the .63s were buys this afternoon.
Blue day tomorrow hopefully
As a LTH I fully subscribe to all the chats today and looking forward imo there is a lot of upside. Doesn’t matter to me what the speculation of NPV is - we only know a market cap at these level is low. Seems to be a great story and nice to be part of it. That being said, I found todays trading quite fascinating. Didn’t see any buys on here - quite a few sells - lower daily volumes, yet the price went up a bit from this morning. Really looking forward to the meeting next week to discuss and learn.
Very informative interview! He's after several projects at various stages of development!
Absolutely agree, O&W. This is a project which is Brexit proof, too, as much as anything can be, imo. Then there is the potential insecurity over gas supply to Europe from Russia which seems to be flexing its muscles more and more.
So, JW is remodelling his numbers now for the IM project on the back of the reduced FEED cost estimate. It was worth 10p a share before, on a 20 year life. I wonder how much of a revision upwards will be produced, by December 5th?
And talking to 3 potential equity partners, with a fourth joining the negotiations this week.
And, "3-4 years ahead of the game" in UK gas storage.
With JW leading the team, and hearing him talk, and knowing his background, I feel very comfortable with a sizeable holding here.
John wood on Vox https://audioboom.com/posts/7097923-sdx-energy-sdx-infrastrata-infa-and-malcy-on-fpm-sdx-ppc-amer-matd-rre
Hi All I will be unable to make the December meeting now but look forward to the feed back & now I am just waiting for the next 'Red Dot'.
I wouldn't be at all surprised if we had offtaker or financial news reported this week. It would provide a positive spin to the upcoming shareholder meeting.
We have been told recently that we are talking to 6 potential off takers. We have also been told the 8 cavern project is circa £50mill less CAPEX than our original economics were modelled on. Not so much "build it and they will come" more like "they have come so build it" GLA
Hi Snowman 100, thank you for taking the trouble to provide me with the relevant information relating to Snip. It has clarified the whole thing for me.
I hope your own snip has been just as successful! Go well.
Infa is going to fly as high as a kite......can't wait for next piece of news......funding?......will also be very interesting to find out the name of the Blue Chip off-taker and to see if bidding war emerges.
Will also be great to hear results of JWs analysis...,
John Wood
@JohnWoo64494325
Nov 23
More
Busy morning at #INFA today re running all our models to assess the impact of a total CAPEX cost for all 8 caverns of £265m some £55m lower than the high end of our estimated range!
Certainly going to make enjoyable reading!!
Mitch,
If you're new it is worth looking at this , I'll post it again.
‘Spud said (Advn 15 Aug 2018) ‘The beauty with Medium Range Storage (MRS) is the rate of withdrawal and injection. Islandmagee will be able to withdraw over 20 million cubic metres of gas per day’.
Assuming Spud is correct, can someone please check the following calculations.
Given:
Approx. 2.64 cubic metres of gas 1 therm
Given:
1 therm = approximately 29.3 KWH.
Therefore:
20M metres of gas per day = 7.5M therms = Approx 220M KWH
Current gas prices
https://www.ukpower.co.uk/home_energy/tariffs-per-unit-kwh
Both gas and electricity consumption is measured in kWh. The unit rate you pay will vary depending upon the energy price plan you’re on, and even the region you live in, but the average cost of electricity per kWh is 14.37p, and the average gas cost per kWh is 3.80p
So assuming:
1KW natural gas = 3.80p
220M KWH x 3.80pence = 836M pence = £8.36 Million per day.
This is a PHENOMINAL turnover !!! ....; ...........(of sheer volume of gas and cash)
Surely, this should secure us a brilliant letting price from the offtaker!
This is a project and a half !......and then some !!!!
GLA!.......see you on the 5th?
Each cavern is a similar size to the gherkin building in London mitch
Setanta1......Some snippets regarding SNIP (sorry about the pun!)..hope it helps clarify.
https://ec.europa.eu/energy/sites/ener/files/documents/pci_5_1_2_en_2017.pdf
Definition
5.1.2 - Upgrade of the SNIP (Scotland to Northern Ireland) pipeline to
accommodate physical reverse flow between Ballylumford and Twynholm
Cluster
PCI 5.1.2 - belonging to cluster 5.1: Cluster to allow bidirectional flows from
Northern Ireland to Great Britain and Ireland and also from Ireland to United
Kingdom
Type of technology employed
Installation of bi-directional compression on Scotland to Northern Ireland pipeline
(SNIP); pipework modifications at 2 AGIs to allow bi-directional metering and flow
control and moving gas odourisation point to a new point(s) downstream of the bidirectional….
McAdder 26 Jul '18 Some aspects that really set this gas storage project from the others out there are:
- unique location and literally yards from the SNIP
McAdder 20 Jun’18 The beauty about Infa is it's strategic location - only 50yrds from the existing SNIP, reverse flow which will allow the supply of gas to not just the whole of Ireland but the UK too. Once constructed will help supply the huge increase in demand Ireland will have for gas due to the gas expansion programmes underway, construction of Belfast power station and phase out of coal and peat which are highly damaging to the environment.
David Marshall (Rapid Dave) -Infrastrata its Finally Happening (Trade Insight) - Ideally situated to make use of the SNIP (Scotland Northern Ireland pipeline) for Gas trading & fast access to supplies / storage across the UK
Each Gas storage chamber will be situated 1km underground and will measure 200m tall and 80m diameter. It will be situated adjacent to the Scotland Northern Ireland (gas) Pipeline (SNIP) and the Moyle 500 Megawatt Electricity Interconnector.
Hope this helps, all the best.......PS I've also actually had the SNIP meself !
Hi spud, thanks for that. Since my previous post on the matter I have read what I could but I'm afraid I'm not much wiser. I seem to recall mcadder posting some cogent information relating to SNIP but that was quite some time ago and I've forgotten what it was all about. Go well.
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=https://ec.europa.eu/inea/sites/inea/files/5.1.1-0005-ukie-s-m-16_action_fiche_gas.pdf&ved=2ahUKEwj3uraN_-reAhWLAsAKHdDjAeQQFjABegQICRAB&usg=AOvVaw2vfRGBuHFSqNyUs2UHFW0l
Reversal of snip is €1.85 mill half of which is funded by EU!!!!! (PCI)