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Sept milestones set in Sept need to be met in Sept
Totally agree
I was disappointed not to see at least an update RNS this morning but I am hoping for one this week.To issue an RNS in the last week of September with September completion dates & no update in or near September is not good enough so hopefully we will get one soon .At the weekend I forward sold 300,000 shares at 0.09p as I need some funds hope to reach that point in the next month or so.
GSA could be signed today (or maybe even have been signed already) but announced at a later date. Maybe they want to give updates in 2-week intervals.
Last rns said everything else was on track
.... “were” set
If BOD can’t make milestones for September that we’re set in September it really looks poor indeed
Trying to post but keep getting Aldi ads up!!!
Aunty…..yes, 16% of 250 Million is £40M per annum.....very nice indeed!,,,,,,Islandmagee is estimated 50M -65M.
However, there would be even more return if the FSRU project is at the higher end of the spectrum quoted in the RNS (250M-400M capex) i.e. 400 million capex.
In that case the return would be in the region of 16% of 400 Million which is approx 64 Million per year.....which is equal to the higher estimated return on Islandmagee.
So overall the maximum FSRU potential is equal in value to the maximum Islanmagee potential……very very acceptable!!
GLA !!!
They reckon the rate of return on an FSRU is around 16% a year. That's a big number on an investment of 250 million, almost as much as the projected returns on Islandmagee :-}
'To get in the FT Small Cap you have to be a 170+ million pound company which is bigger than Costain who are working on this project! '
Just the cost of this one project is worth twice Costains MCap !
To get in the FT Small Cap you have to be a 170+ million pound company which is bigger than Costain who are working on this project! A tall order if you ask me but I wouldn't complain if I was still invested here by the time it happened. If we do get funding, which in the current climate would be a miracle (look at Sirius Minerals and Thomas Cook), then I think we'll have something special looking to the future. GLA
Will we actually get to see a copy of the draft GSA?
Talking of future projects....we will soon hopefully be progressing the FSRU project and that has even more potential than the lifetime 2.5 billion dollar revenue of Islandmagee.......I wonder what will come after that?......it's quite mind-boggling for such a low MCap minor company....we must be careful not to overstretch too quickly.
Next bit of excitement anyway is the draft GSA.....a major document....hopefully this Monday (last day of September)!
This is a real class company and wouldn't be surprised if INFA is in the regulated main market as soon as 2021.
GLA !!
'Why would Vitol loan Infa the money when they could buy it outright from 1 days dividend earnings I.e. pocket money'
True aunty........but you could equally say why are they off-taking when they could buy it outright from 1 days dividend earnings I.e. pocket money.
And after all, they ARE in the business of both off-taking and providing funding. Didn't John say at the presentation in London that they were looking to offload the bulk of the projects as things go forward, just keeping a percentage interest in them whilst reinvesting in new projects? .....perhaps that suits both parties?
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.