We chatted to IronRidge Resources' CEO Vincent Mascolo who explains why the company has become a lithium explorer. Watch the video here.
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After 25/4 - if anyone wants a copy of the placing document I'm happy to forward. 1st stage is to get GM resolutions approved and then I believe you will see a steady flow of development news and additions to the bod. It is my view you have around 10 days to build ur stake - we are off the radar and our mcap is just over £2m. I'm normally courting controversy in the blockchain space were I'm considered as 'marmite'. For this share I was advised to diversify and will be adding more leading up to the GM. I won't be adding any controversy here - if I know or hear of something then I will post it within the rules. Gla
Thanks for your input, some interesting points - good to have your perspective on Infa going forwards especially now the FEED stage finally having been reached which imo was always going to be a game changer for the project!
Last point - SIC broker's are top. I don't know the past history and can't comment what i do know this is a serious turnaround play. Just wish I didn't diss it so quickly but have got in under .25. Lesson to be learnt. Pick and choose wisely.
Appreciate your intervention and info. Thanks.
After GM on 25/4 - I'll post more on FEED and grants available. It's a wowzer!
I was offered 12m shares and 1/2 warrant, expires 3 yrs. This might help: 630 m shares 67.5m warrants .6p Options 1p (30m) Sig holders: L&G 8.5%, E Lyons 3.7% Add 350m new shares 175m new warrants Put simply - infa is the best UK infrastructure opportunity. Only aim company entirely focused on gas storage, unique positioned geological formation for the SNIP and immensely important for the uk natural gas markets. Infa have to date invested £11m. Some are aware of many years of bad management and Averice by old bod. 2017 the whole bod was jacked. 5 reasons to buy in Institutional following Exit and liquidity potential Access to non dilutive capital from EU PCI status Highly bankable project Get this : U.K. Storage is 10% of annual demand compared to 30-35% in other major EU markets. Rise on storage cost and space demand Hope this helps
I know four long term holders who owned over 10% of the company before the second last placing and none of them were offered the opportunity to get in on the current placing placing. What a way that would have been to let us know about their projected price! The wages of loyalty! Communication at last. The SP at 3p by next April !! Maybe I should keep my shares for a while. Thanks for the info Presto!
Guys I had the opportunity to get in on the placing but didn't. I've come to regret that decision now especially after reading the placing publication. It was lack of time I suppose to research it. Then the price dropped lower than the placing price and I have been quietly adding over the last 7 trading days and have bought a tad over 5m. Projected price is 3p in 12 months. Gla
Considering we don't share the view Infa is a con I couldn't agree more with the undervaluation at present. However news to confirm the FEED is formally underway with contractor's not only chosen but on site having already began work would certainly generate interest and start to move this along.
At the end of the day we are where we are. At under �2.5mill mcap with FEED funded and about to start, debt free & 100% of project we are undervalued imo
Thanks for that Spud. I've reread the 2 Oct.2017 RNS. A repitition of that might have helped the last Placing go down a bit better.
"The Board is pleased to note that the post-FEED funding required for the implementation and construction of the Project has pre-qualification for the UK Government Guarantees Scheme, which is a supportive backdrop to help underwrite future financing discussions." http://www.lse.co.uk/share-regulatory-news.asp?shareprice=INFA&ArticleCode=o5gth235&ArticleHeadline=Proposed_05m_share_issue_company_update__GM
There are no suppositions in my post and I hope you are right about the forthcoming news. But my reason for this post is to thank you for copying the Infrastructure guarantee scheme document and to ask a question. If the Guarantee Scheme finance is applicable to a project such as Islandmagee,and given that it has been available since 2013, why was it not used by the last or current BOD of INFA as a means to persuade those with "deep pockets", (AP's expression if you remember), to invest in the project? My guess,(and it is a guess), is that Islandmagee wouldn't qualify for a guarantee under such a scheme..
Setanta the result of the BEIS meeting has been common knowledge for some time I merely posted the article which mentioned it - incidentally this was their response to their conclusion which you missed out - "This seemed a strange response given their intervention in the power market to guarantee supply.” As for my blood pressure I'm afraid the only thing you have succeeded in raising is my eyebrows at your post that you now think this is a con! lol just lol
Setanta That post is full of suppositions, we wait for news (which I believe is coming) to help answer our questions
You are both valid in your approaches. We have a right to be disappointed and IMO very very cautious. i have been ripped off as a mug before. it is endemic to the stock market (and the world).Do you believe what Russia is saying about the Syrian incident? I share Setanta's cynicism and tag onto Mccadder's hope. I do however feel that this would not happen if AP and crew would communicate as originally and repetitively promised.Optimists or pessimists...apart from the last RNS and 3rd surprise Placing....we are all continuously in the dark and not communicated with. i -like you two- am sittting on a stupid loss and don't have a clue what is really going on from day to day.
Spud, I think AP and PW started out with high hopes and good intentions but they found out fairly quickly that what they wanted to achieve was difficult to achieve so one left the board and the other ceased to communicate except to ask for more shareholder finance. Not what we were led to expect. FEED, it appears, could not be financed and so the BOD needed to have recourse to a placing once again. FEED is only aimed at preparing the project for FID. Nothing more. And there was a problem finding the �600m to do that! When you spoke of UK government guarantees did you mean the EIS ? The government has no intention of providing finance for gas storage. So who is going to put up the �308M you mention? Any major gas supplier could buy INFA for �5m,(topside), today but they are not doing so. And Centrica posted an Operating Profit of �1.25bn,( yes BILLION!). Are they interested in INFA? I don't think so! And mcadder I don't mind how often you post. That's what this board is for.But I do think you should pay more attention to the last paragraph of your 13.05 post in which there is a clear statement by BEIS stating that they will not invest in gas storage facilities. And, mcadder, there's no need to get worked up because someone posts something you don't like. It's bad for the blood pressure,you know!
Utilitywise Insights @UTWinsights · 1h Expectations of strong #storage injection demand and a rally in the wider #oil #coal and #carbon markets this week have pushed #NBP #gas contracts delivering in 2018 to highs not seen for more than three years.
You change your mind on Infa like the wind which is why for some time I haven't taken any notice of your posts. Nor will I be taking any notice of your insinuation that I refrain from posting about gas related articles. Either ignore it or filter me I really couldn't care less!
Project Capex: �308m Oneof the Board�s objectives for the FEED is identity ways to reduce the project capex A scam? PCI status and UK government guarantee scheme approval, definitely not a scam imo
https://www.businessupnorth.co.uk/coal-output-fluctuations-highlight-major-shift-in-power-market-trends “The ability of the system to fall back on coal in this phase of the market has proven highly beneficial and marks a major strategic shift in the way coal plants are being used in GB power generation. “The additional electricity that coal produced on March 1 helped reduce gas use, reducing the risk of gas interruption. This showed the value of having a diversified fuel supply in the GB energy mix and demonstrated the role coal could play as a back-up source of generation. With these plants set to close over the coming years, there is a risk that gas shortages endanger the ability to provide electricity to the market as required. The Capacity Mechanism has secured generating capacity into the future but 70% of this is gas-fired and 10% is from external countries that suffered their own gas shortages at the time we did. “The closure of GB’s largest gas storage asset, Rough Storage, and the decline of GB gas reserves has made the Britain vulnerable to gas shortages arising from supply disruption. Following the March gas crunch, the Department for Business, Energy & industrial Strategy (BEIS) declined industry calls to look at support for the building of new storage, citing market forces as the sufficient driver. This seemed a strange response given their intervention in the power market to guarantee supply.”
Finance & Stock Market News UK GAS-Prices rise on undersupply, low wind output Fri, 13th Apr 2018 09:27 LONDON, April 13 (Reuters) - British wholesale gas prices were mostly higher on Friday morning on undersupply and high demand due to low wind power output * Within-day contract rose by 2.70 pence to 57.50 pence per therm at 0819 GMT * Flows from Norway are lower as some volume is being rerouted to continental Europe * The system is undersupplied by 14 million cubic metres (mcm), with demand forecast at 263 mcm and flows at 249 mcm, according to National Grid data * Demand is 26 mcm above the seasonal norm * Peak wind power generation is weak at 2.9 gigawatts on Friday and 2.4 GW on Saturday, Elexon forecasts show * Low wind output typically raises demand for gas from gas-to-power plants
I agree announcement of the FEED was significant indeed just a shame with hindsight this wasn't done back in July when the SP was up to and over a penny! Crl your whinge is understandable given the timeline of events to date - don't get me wrong one thing that hasn't diminished since I came aboard here is my belief in the need for the project to be developed in the interests of security of supply for gas - it probably doesn't bear thinking what the current situation with Infa could have been though if AP along with Peter Wale had not overthrown Mr Hindle and the rest of the bod. We keep the faith....for now!