Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Jw message ...nothing soon
This type of rns will get the shorters out again .
Own goal rns imho
Morning all,
Good solid update today everything appears to be moving along nicely. Am I right in thinking this is the first indication the Company has given that funding may come from an EU source? Didn't someone comment that Vito had a finance arm? Or an associated company attached that provides finance! Two and two? If that is the case?
EU grant monies, be nice to actually get these in the coffers as soon as but as always with anything related to dealings with the EU it takes an age, but I'm sure these funds will arrive as from all comments made Inca are owed these funds.
Today's announcement nicely sets up the second half of the year to be a positive period for the Company, all the good news on the horizon? Bring it on I can wait.
Like I say these projects take a very long time to set up and lay all of the groundwork, and Inca do not have the staffing levels to be able to move things along at a faster pace, the appointment of a new chairman would certainly help, however I think this all may now tie in with the final finance arrangement, everything may all happen at once here or in a very small window.
Mr T
Agreed. Happy to hold these the pay off could be great.
I have read the RNS & it is good that we have had an update see my earlier post this week.
There is no bad news in the RNS & clearly many work streams so it is a matter of waiting again - not sure what the market will make of it.
With regards the EU Grant I have been through an EU audit on an EU grant & they are tough.
In summary looks like progress is being made & JW seems upbeat thats good enough for me.Regards to all.
Solid update, this morning. It appears work on all fronts is moving forward in earnest. The significance of the Vitol offtake has been overlooked. I like the quote from JW;
“We are now at a very exciting stage of the Islandmagee Gas Storage Project. Having underpinned our future revenues with an innovative offtake structure, we have been able to fully model the future income streams for the next 12 years. This has assisted in our negotiations with potential project funding partners. As we did with the Term Sheet with Vitol, we will take the required time to negotiate the best long term deal we can so as to ensure our long term interests and those of our shareholders are protected."
Transformational
INFA loan from Costain as per INFA financials is £540k required to be repaid on the earlier of FID being taken; or any sale of IMEL or the Project itself; or 31 December 2019. Not material in relation to Costain’s cash reserves. Given all the moving parts, 6 months is a way away. INFA are also owed a lot of money as committed by the EU on completion of the FEED. EU committed to Eu1.6m and are supposed to pay any day now. This is about 3 times what INFA owes Costain. I would hope the Eu stands by its commitments.? No big deal here given the timeframes we are talking about..
nazreme Don't be a ****!
Have infra paid costain for work done. So costain can pay the tax or declare any interest in shares
Lol
If costain go into administration will infra pay up to the administrator's.
Do not leave it up to us taxpayers.
Good post dawski37 I agree with all your comments & yes this project is too big to fail as already recognised by the EU who have already been part funding parts of the project.I still maintain it as a 'Strong Buy' only wish I had the funds in order to top up.However I still maintain that INFA should issue an update RNS with a time chart.Regards to all serious posters.
Any update from the company yet?
Perhaps a timely reminder of Allenby Capital's excellent recent detailed Report & Assessment is needed...also that of Total Market Solutions ("TMS") dated 11th March 2019.
The former,I recall, had a valuation in excess of 2p per share ....whilst praising all the targets (inc FEED) being met and the huge amount of interest in Offtake and Equity/Debt funding, the downside of possible further shareholder dilution was also noted due of course to the capital need of the project.However,since then, we have had the "transformational" news of our link to Vitol and other exciting prospects being investigated.
TMS remarked that around 14.5m has already been invested and the January 2019 placing at 1.2 per share certainly helped "de-risk the project and seek stronger equity retention with potential partners" -It was good call by JW and his team at the time.
We just need to overcome the uncertainty over and finally sort the Marine Licence,receive in funds from the E.U. finalise and make the Term Sheet with Vitol unconditional and of course move to FID as soon as Debt and Equity providers are on board,then woosh.. Comrades,we just need all LTH's to hold on.. this very necessary project has to succeed and nothing negative has changed since these two reports and valuations were presented.....both are worth a full read !
I will be adding here, the wider picture with Vitol now underwriting a 12 year off-take agreement at very good rates is an excellent indication of what’s to come.
Paves the way for project funding and back costs which draws the current MCAP alone.
Snowman - your theories on Costain and INFA jumping ship are a little far out, I have never read something so ridiculous.
Any update from the company yet?
Well been looking through protesters site and seems they were pushed back on their perception of the project effecting the Larn lough:- "David Lowry I explained to DAERA rep that along with the brine disposal I also have major concerns regarding the impact on Larne Lough if things "go wrong"
The response I was given was that the intake and outlets were at the other end of the Island and how could anything be affected in the lough?
I was given the impression that this sort of thing isn't even on their radar!"
Aunty
shaylor were working on a large project for my local council, already had done work on a previous 2 year contract and were awarded further contracts, my view is that they hadn't got the cash resources in house to finance their projects as is always the case with many large contractors, and as they were private I suspect cash had been extracted !! You get the picture!
I don't actually know why they took so long working on the initial contract and I would never have employed them for the second contract! Trouble is the smaller contractors have not got the finance for these projects so the medium or larger contractors win the contracts. I'm afraid the local council were to blame although they state they did their due diligence on the finances, its now left a huge hole in an important renovation project which has been mismanaged by our council from start to what will inevitably now be an over budget finish, if ever it is! A right mess.
Mr T
Shaylor cited project delays, same as Costain, and went under because of cash flow problems. Hard to find out how much debt they had, as they are a private company, but they must have been at their credit limit else they could have got finance to tide them over. Their order book was strong with a 150 million turnover. INFA, meanwhile, are on the cusp of signing an offtake agreement for 12 YEARS (THAT'S 12 YEARS!) with one of the worlds biggest companies (it would be 8th on the Fortune 500 Global List, if it wasn't a private company). INFA don't even have any income at the moment and are dealing with a 250 BILLION dollar company! WAKE UP and smell the gas:-}
RNS Number : 5827Y
Infrastrata PLC
09 May 2019
'……….and the sum of EUR1.6 million is expected to be received in the next 8 weeks from the EU'
7 weeks and 4 days gone……should be EUR1.6 million with us this Thursday (or before).
So should be an RNS containing at least confirmation of that by Thursday.
storage filling up as Norway, Germany and Russia plan to shut down their pipelines for maintenance.
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/061419-pace-of-european-gas-storage-injections-key-to-market-balance-analysts
Following last weeks public meeting at which DAERA were present & subsequent reactions on Facebook an update from INFA would now be appreciated JW.
In fact considering where we are now i.e. Monday 1st July at 0.695 & where we were on Tuesday 15th January at 1.775 it would be good to have an update from INFA detailing where INFA are on the various projects they are working on similar to INFA's chart they issued last year
Aunty,
Exactly, in any case show me a construction company that isn't financially secure, Shaylor went bump a couple of weeks back, Costain appear in good health in comparism to it's rivals?
There are far too many other important issues here at the moment to be concerned with, offtake agreement to be fully signed off, EU grant to be received, New Chairman and finance agreement to be signed off? plenty to be going on with.
Mr T
Costain isn't going to fold. It has cash alone of 189 million, a positive net debt of 119 million, profits of 49 million forecast this year and turnover of 1.49 billion! What happened on Friday was an overreaction and in no way affects INFA
Hello everyone
I am new here. Perhaps this has already been discussed several times, if so sorry.
Any impact from the Brexit disgraceful negotiations on the chances to obtain any EU grant for a British(?) company?