Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yes to both, see you on the other side, good luck all.
O.K. I will try but I am sure you will disagree with me again. The only person getting .004p from this deal guaranteed is GW if we pass it. He also gets over 70% of the shares in INFT and keeps 74% of Transgas giving him a total of well over 90% of Transgas overall. What is Transgas worth, we don't know yet. What will he do with the entire business once he has full voting rights, we don't know yet. How much does GW need to make to break even or make a little profit if we were to be screwed over( I am not saying he will)...the answer is here :
"A good conversation with Gerwyn today from Infinity Energy #inft brace yourselves for some exciting times over the next 10 weeks"
"Interesting 3 minutes with him. He said we?ll have more updates moving forward and they will be submitting the paper work soon. After that there will be more updates to the market. He said he and his family have invested ?700k and would not let this mess up"
I think we all need to remember that any deal with GW is the only way to recover any locked in cash. For my part I am supportive as much time has been spent putting the business together and over time GW has supported INFT with loans. Also he has other complimentary businesses and no doubt other potential acqusitions to put into the group and not simply UK. This will be a main listing and not an AIM play so the man means do it about right. There will be sellers but no doubt serious buyers will appear.
No reply from INFT to my E-mail yet and the website is not updated a week after the circular was released. Anybody else have an luck with contact?
OK last go from me to restore reason
If GW is out to shaft us all, why is he taking his consideration shares at 0.4p? The closing price at suspension was 0.14p so why, if he's going to turn us all over, is he now giving us a 65% discount?
Answer that with a sensible explanation if you can
As I have said before everybody hold their horses, we have 4 weeks so lets get the information we require and make an informed decision. There is no rush to get your votes in.
I doubt this will happen , but nobody here seems to know for sure if the numbers are in our favour or his !
seems to me if its a no , GW will be struggling , well out of pocket with all the costs of this so far , and forced to come back however long it may take with a better offer , i,m voting no deal
Interesting post by Phil C on Drill or Drop...
'There seem to be a number of unspoken sub plots about this proposal to frack the south west. Firstly the methodology proposed:
“Mr Williams said the tests were not seismic surveys, which use sound waves to build up pictures of the geology of an area. He said the company had ideas of where it wanted to carry out the tests but when we asked about the locations he said: “I cannot tell you. It is very confidential”. He also said the company was developing technology, which he said, would “do away with the need for exploratory drilling”. He said: “We think this [exploratory drilling] is a waste of time. It just upsets people. We are going straight to production. We are going to revolutionise the industry.”
Asked how this would work, Mr Williams replied:
“I cannot tell you.””
That means applying for an up front production licence, and the conditions for that are far more stringent than the “get out of jail free” rubber stamp job which is the usual excuse for an exploratory licence, but we all know that an exploratory licence is nothing of the sort, it is an intention for production as we have established prior to this.
Then we have to ask, what is this mysterious “developing technology”? Is it the high pressure steam wash we have seen alluded to here? The ill defined and illusive term “proppant squeeze” perhaps?
And the “walk over” that seems to be intended to tell them what is there, something that previous companies have failed miserably at. Dowsing perhaps?
But of course fracking presumably would still be required to fracture the shale, if indeed shale is the target, or is there yet another woo woo wheeze to be revealed yet?
And then we have to ask, what is the engineering status of this “developing technology” And how is this process considered in engineering terms and what additional problems and caveats in operational procedure and knock on pollution and contamination effects does it suggest?
Presumably such a new technique would require the approval of the OGA and the EA, crippled though they are, before anything can be actually allowed to become operational. Would there be trial runs with on site monitoring? Does the USA who seem to be sold on such practices, know about this process and have they tried and abandoned it all ready? And why?
Then we could perhaps become concerned about a small company of doubtful provenance having the expertise and the financial resilience to operate such a “developing technology” in isolation.
I am sure many of you smell a rat, perhaps there is a clue there, a trial run for other interests.
And of course that does not even begin to approach the entrenched and declared opposition to exploitation in Somerset and Kent and that aspect may well choke this effort before it so much as hires a drill bit before it can be put in the ground.
More questions than answers as usual isn’t it? ...'
Haha..PI's done up like kippers. No sympathy.
I am no oil expert, so thanks for the numbers. However, if only applied to the 200m conventional oil in place, it seems to me that Transgas is undervalued. Please keep us informed of anything you find in the documents your planning to look at.
Thanks Maccy
Thanks Andre, look forward to your review. Cheers for doing that I am nowhere near London.
I plan on popping in next week to look at the docs tta
Its pretty basic to take the industry average of 25-30% recoverable. Not exactly rocket science.
I have circa 12 m shares and don't exclude voting no. I'd like a clearer picture with CPR for starters. What's a wait of another few years.
I am the king of discontent, we only need one going off the handle! lol 3rd it can work but we need to understand what we are voting for as if we pass both motions we no longer have a deciding vote. Does GW have something up his sleeve, a plan, a road map and straight to production lined up. He may well do, all I am saying is we have 4 weeks still lets ask the questions now before casting our votes and lets make sure we do with as much knowledge as possible.
My Maths has got pretty lazy since I left school ( disclaimer for any obvious stupidity ) : )
And fuck all for us :-)
It looks that way.
Instead of us looking at a 4x value of 2.5 million , Gerwyn has just taken up the slack by issuing himself £10,000,000 worth a f shares in INFT.
That leaves us with a lot less than what we stared with by about 90%.
My 5million shares are now worth about £800
UKOG have commercial discoveries or conventional and unconventional oil at Gatwick but have not yet released a CPR showing quantities recoverable. I expect their mcap will change to reflect the valuation once the independent CPR is published.
Also in my opinion I believe UKOG share price is being manipulated down by the AIM market which allows market makers to naked short. At least when this relists it will be on the main market and the share price should reflect demand and supply.
In the meantime, the circular for Transgas is using historical analysis of oil initially in place showing circa 200 million conventional and 11 billion unconventional. Again imo without knowing recoverable quantities valuation is all about potential.
UKOG is producing oil and has a market cap of £60m. How can Transgas be worth £40m ?!
I don’t think so.
Gerwyn now has 10 odd million in INFT.
INFT IS 26% of Transgas.
Transgas is allegedly worth 41 odd million.
Looks to me like we will open about the same if not lower
Thanks for your replies,
I have been nominated to ask if the reports on valuation conducted in 2017/18 can be made available to the shareholders to allow us to confirm the valuation in the circular of £41.3 million for Transgas. Your help in this is much appreciated.
https://www.investegate.co.uk/infinity-energy-s-a---inft-/prn/potential-acquisition/20171017150941P8ED9/
I have had a couple of E-mails back and forth and sent a nice request today, professional of course. When I get a reply I will post it up for you guy's.
If anybody is thinking of contacting the company with regards to CPR or any other matters, to choose your words carefully ... please don't come across as a p****d off shareholder ... we have all waited along time for this to relist and many have had a lot of money tied up for the best part of two years ..... we don't want anything to scupper things.
Fyoz, can I ask who you are. You don't want someone to look at the underlying documents .
Available on display at Blake Morgan LLP, 4th
Floor, 6 New Street Square, London EC4A
3DJ until 17:00 on 25th April 2019.
Also you are against us getting any independent documentation?
The Directors, whose names appear on page 16 and the Company accept responsibility for the information contained in this Circular. To the best of the knowledge of the Directors and the Company (who have taken all reasonable care to ensure that such is the case), the information contained in this Circular is in accordance with the facts and contains no omission likely to affect its import.
Certain information in relation to the Company has been incorporated by reference into this Circular. You should refer to the part of this Circular headed ‘Relevant Documentation and Incorporation by Reference’ which can be found on page 15 of this Circular.
This Circular is dated: 20th March 2019
The Independent Directors consider that the Proposals are in the best interests of Shareholders and accordingly recommend Shareholders to vote in favour of the Resolutions
We don't have the CPR but are trying to get it,
https://1drv.ms/b/s!As4iTTXJu2RNhFCI9nIc9PQjEopV