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I still reckon an investment company like TRIG would be interested in investing here as it potentially provides a stable dividend income for the next 40 years or so, whilst the world gradually moves away from fossil fuels. Why would Vitol loan Infa the money when they could buy it outright from 1 days dividend earnings I.e. pocket money
RNS 3rd July
'The signing of the Term Sheet has enabled InfraStrata to continue to progress detailed discussions with potential equity and debt partners in the UK and Europe for the funding of the construction of the Project and pre-construction works, and this is a key priority for the Board.'
and further down th same RNS
'The Company remains committed to obtaining a FID to fund the construction of the Project by the end of 2019, which can then lead to first injection of gas in 2022 and full commercial gas storage operations in 2023. This is subject to agreement with the Company's chosen funding partner.'
Note the first paragraph says equity and debt partners (plural) but the later paragraph says the Company's chosen funding partner (singular).
There is no mention of debt funding in the milestones.
It seems that the equity and debt partner are either the same so there is only one milestone for both or the partner is 100% funding equity with no debt needed and hence no debt mentioned in milestones.
Two edged sword....equity is costlier but less risky.
Raises the obvious question.....is the funding partner VITOL ?.......I'd say yes......if so, how much of the project remains 'ours'?
Yep, bit like your own attention seeking Mitch. Something is drawing you to this bulletin board
Cheers Dawski.........I'll keep checking my account hourly! ............. lol!
Meanwhile....we're in for a white knuckle ride Monday as the share price smacks the gear-cogs into warp factor six......IMO it will be well up over 1p by midweek if the GSA looks as good as has been previously stated.........
11th June RNS....'Once the entire working volume of 500mcm is made available to Vitol, this would translate into projected annual revenues of between £50 million and £65 million at project level before operating, maintenance and other costs'.
3rd July RNS....'The Company announced that it had agreed a term sheet with Vitol SA that, once converted into a full gas storage agreement in due course, will underpin cumulative Project revenues for the first 12 years of operation of the gas storage facility, expected to be approximately £600 million to £780 million before costs at full operating capacity. Over the 40 year lifetime of the facility operations, cumulative revenues are expected to be between £2 billion and £2.60 billion before costs at full operating capacity.'
Allenby Capital 11th July ..............."We are retaining our valuation of £56 Million or 3.3p per share.....(reflecting a premium of 3 times the de facto spend on the project of £20.5 Million....and risked for residual uncertainty"
.........................I'm having a bit of all that !!!!!!!!!!!!!
"Serendipitous" .Crikey, Snowflake 1000, I had to look that one up -Will be sending you £400K via Paypal soon ...as long as you keep your positive "Strongest Possible Buy" Post please .Have a great relaxing weekend !
...'A nice little Gas Storage Agreement RNS about 16:00 (10 minutes from now!) would go down very nicely indeed.........we would certainly see sparks start to fly !
Failing that, then it's the mother of all firework displays on Monday !!!
GLA !!!!'
Sorry...I thought the time was ten to four it was actually ten to two when I posted that !!!!
So hopefully may still happen in 1 hour and thirty one minutes !!!!
One more thing please regard my opinion of 'strong buy' as 'very very very very strong buy' please.....many thanks !!!!
A nice little Gas Storage Agreement RNS about 16:00 (10 minutes from now!) would go down very nicely indeed.........we would certainly see sparks start to fly !
Failing that, then it's the mother of all firework displays on Monday !!!
GLA !!!!
....'Ha ha,Snowballs ..like it ...would love to see you join me as we need some active enthusiastic and dynamic Punters like you as TR1's !'
Dawski.....It's very serendipitous that you say that......you might think it a joke.....but I have seriously considered becoming a TR1.
Now, if you could possibly just see your way clear to lend me £400,000..........I'm on my way !!
How remarkably profound
What are you talking about ?
Agree Snowy and Mr T. As a Project Manager nothing gives more confidence to stakeholders than publishing a detailed milestone plan and updating regularly when key milestones are ticked off. The challenge is when some are out of your control, such as EU Grant, and my assumption is that none of the others are dependent on that? as I am sure Vitol are also fully aware this can’t be a dependency for project to remain on Track for FID at year end.
Generally speaking, once you have discounted the illogical you will arrive at the logical.
IMHO
Why are there so many sellers on the cusp of news about this project? It makes no sense to me
Morning Snowy,
I can't see why JW would print the milestones if he didn't think he would achieve them in a timely fashion. Its déjà vu to this time last year with the run up to the feed completion and then finance news. In my opinion this project revolves round Vitol, I expect them to be heavily involved in all aspects once the current milestones are met, I also expect the so to react very positively once the newsflow begins in Ernest. Talking of which, where the hell is the EU grant, Jesus no wonder we need to leave this hopeless institution if they can't even sign off piddly grant claims in good time. It beggars belief that we still haven't received this money which as far as I understand is legally due to us. I would think JW is staggered by the inefficiency of this organisation when these funds re needed by the company to avert any unnecessary fundraising!??
It is now paramount that these funds are paid to the company as soon as possible and an RNS released to confirm this has in fact happened.
I note that in my area we have recently been granted a wildlife status around the local canal?? Suffice to say nothing has changed apart from a few sign being erected to tell us this???? Ah and they have been sponsored by the EU!!! Must have cost at least 20quid or so???
You see the EU does do some sterling work for communities in the UK??? believe that and you could believe anything!?
So lets see them do Something useful such as paying over the funds due to Inca, and pronto please.
Mr T
Now the milestones are in print it is highly important for the SP that we consistently hit them.
So hopefully we will have the terms of the draft Gas Storage Agreement in all it's glory by end of session on Monday
I think that is a smart move as the margin is so low. I have done the same thing but somewhat larger!
Ongoing. The last spike was over a 2.5 month period so as infa is in a much better position now I'm hopeful. Maybe a nice Brucey Bonus in time for Xmas. After all a deal with Vitol is like Disney offering me a million pounds for a £250 video I'd sent to "You've Been Framed", if you get my drift ;-)
Ha ha,Snowballs ..like it ...would love to see you join me as we need some active enthusiastic and dynamic Punters like you as TR1's !
I think you're on a winner there auntie.......over what time period?
Good luck.
....Anyone going to claim the massive buy at 8:43?
TR1 in the morning for that one. ;)
Si.....I think it was Dawski slowly building his stake from 81,000,000 up to 81,000,020......lol!
I've added a million equivalent on a spread bet on top of my normal holding. Just hope it pays off :-(
It's easily done if you have fat fingers!
Anyone going to claim the massive buy at 8:43?
TR1 in the morning for that one. ;)
I picked up another £2000.00 worth @ 0.4499 just after opening. At least that one is showing. Roll on the GSA....I think we may see a very swift rise on the back of that !
Well done dawski37 Glad to see you have added today I made a small addition myself last week of 27,000 shares at 0.45 it all will be worth it hopefully soon.
are "Buys" today .I should know !!