Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Brilliant update aunty again, I tip my hat to you (and dawski, don't want him to be jealous haha)
There was alot to take in. Basically there's only one offtake partner now, if my memory serves me right, but they want the 7 caverns in the equation and also a 50/50 split on equity. No issues on brine outflow as they comply completely with regs (a fraction of the requirements in fact). Mentioned the protesters but very respectful to them and said us investors shouldn't goad them on social media. A full marine licence can't be issued until certain criteria are met. Any government guarantee scheme is not needed as funds will be met from commercial endeavours. Indeed, if you need the government guarantee your project is not viable. No need for an EU grant as this could delay the plans they have already but are applying for EU funds to progress the SNIP which would enhance the project. FID likely 4th quarter but anything could happen in the meantime. Very impressed with Arun. Spoke at length with him about the income not from just the spread on the injection of gas/hydrogen/others into the caverns during year but also trading gas (multiple income possibilities). So, we have the physical AND intangible aspects :-). Spoke with John, Judith and met some other shareholders on this board. I came away with a very positive feeling. I suggested some scenarios of what may happen in the future with both Arun and Judith; they weren't denied. ktf
Thanks for the feedack.
Thanks for the feedback aunty. Greatly appreciated! Any indications as to why the equity is taking longer and whether the licence has been a factor in that? I don't believe they are linked but would like to hear it from the horses mouth so to speak
All under control and still on course with a few refinements by BOD to get best deal from the favoured one .Just cannot see this beauty being sold in the market just yet .. not long now .. honest
Hold tight mate. Everything is under control. Marine licence not a problem and it's all 7 caverns in one go, very brief summary
I have not been able to go this evening because I have a cold but I am looking forward to the feed back particularly with regards the 'Marine License' & where we think we are.Currently I am now just above break even hopefully this will not be for long.
I'm on the train too. Chance to ask questions and look at the whites of their eyes ;-)
Already on the train ..would love to meet you all.. should interesting !! C U lot later !!
Anyone going tonight?
Appreciate that Whatamess.. my hope is that Wednesday morning will be a meaningful RNS, but recognise that these desks are complex and if it takes a few weeks longer then so be it.
Great summary Setanta1, roll on Tuesday. GLA
You would hope that at this stage in the game a few weeks away from the FID milestone that the timing of the shareholders meeting had some significance. JW gone silent on Twitter also so assume it’s been heads down sorting out the contracts
I do believe thet the late resurgence yesterday afternoon could be a very important signal.
There is no great mystery about the 1.2p placing. It was done for a good cause,(land purchase, engineering design work related to the £65M saving identified in FEED, and documentation and land surveys), and although it surprised a few important LTH's, (me included), it did not have any spectacular result on the SP. In point of fact after the dust had settled there were some important holders still buying in at around 1.2p, (seeing it as a bargain price),up to a month after the placing RNS.
Then,around 25 Feb. with the sp again at 1.22p the damaging activity kicked off. In less than three weeks the SP had been lowered to .8p and it has been held and lowered a bit in the more than two months since then ! Those who read my posts know m opinion about that activity so I won't repeat it.
Rumour is that the placing was taken up by a single investor. One can't be sure about that but it could have been accomplished whilst avoiding a declaration. What we do know is that none of the substantial LTH's in INFA were offered a part in the placing. I am sure that upset some and may have helped them to decide to take all or some of their investment elsewhere.At least temporarily.
What must be inferred is that upon making the placing in January the BOD knew full well that we were in a delay situation. We all know that now. I agree in part with whatamess. If it had not been for the shenannigans of the past ,(almost), three months the Infa would certainly be closer to 4p than .8p.
https://www.cleanenergywire.org/news/german-research-initiative-plans-worlds-first-green-hydrogen-cavern-storage Worlds first Salt cavern Hydrogen storage to be built. https://www.theccc.org.uk/publication/net-zero-the-uks-contribution-to-stopping-global-warming/ CCC report shows target of net zero greenhouse gas emissions by 2050. The gas industry will play a massive part in this!
The government has been urged to speed up the publication of its gas security review amid concerns of gas shortages and price spikes.
The Gas Security Group (GSG) has written to Claire Perry in response to the minister of state for energy and climate change’s recent published correspondence with the Business, Energy and Industrial Strategy (BEIS) committee.
In her letter, reported by Utility Week, Perry revealed that the BEIS department is conducting an internal review of the UK’s gas security, the conclusions of which it will share in the autumn.
However, the group, which was set up by heavy gas users in the wake of Centrica’s decision to close its Rough storage facility two years ago, has called on Perry to wrap up the review and publish a “coherent set of conclusions and policy recommendations” by the end of the third quarter of this year.
And it expresses concerns about the assumptions and conclusions that the government appears to be making about the benefits of supporting additional UK gas storage and the role of gas storage in mitigating the impact of gas and related electricity price volatility.
While the letter says that UK consumers pay the lowest retail gas prices in Europe, according to Eurostat, the GSG says the same body shows that UK had the 12th highest out of 25 EU countries between 2015 and 2018.
The letter urges the government to recommend the possible measures to underpin existing and new investment in gas storage.
And it says a more effective demand side response (DSR) mechanism for gas users would be an “important extra marginal source of short- term supply flexibility”.
It says the inability of gas users to contract directly with National Grid means that the existing DSR mechanism, which allows industry to voluntary reduce demand after a gas deficit warning has been issued but before an actual emergency, is not working.
Clive Moffatt, chair of the GSG, said: “Our worry is that, judging from some of the comments and analysis in the minister’s letter, there are some supposed facts and assumptions about the operation of the gas market, which we would argue are not supported by current evidence and we would like to flag our concerns now so that we can discuss them further as the BEIS’s work progresses.
“We accept that seasonal price differentials in recent years have not been sufficient to incentivise investment in new gas storage. We also acknowledge that the consumer will have to bear some of the cost of any market intervention to support new investment.
“However, from the standpoint of consumers, the current seasonal price differentials do not reflect the welfare value – ie the insurance premium that consumers would be prepared to pay to have more gas storage – to help mitigate both the threat of supply emergencies and related short- term energy price volatility.”
Perry’s letter expressed the government’s confidence that the UK will “retain current high levels of security now and in the future
Who did buy that placing? I never understood. They got in at a reasonable price and this is way overdone. Winter is not coming.
No news it goes down. No news it goes up. My view is that there is a lot of value to be had and those of us who are patient and longer term in our ambitions will do very well thanks. The fundamentals and value proposition are there from a project, economic and underlying business need perspectives. Some remaining boxes to tick, T’s to cross and I’s to dot and then I am pretty confident that what we experienced in the first half of January will repeat itself. A large blue chip equity partner will take time to sign on the dotted line, there are all sorts of corporate investment appraisal and approval requirements to be met. I wish you all a very spectacular weekend.
Bought in @ 0.71 today and was shown as a sell, so I imagine there were alot more of the same games today. Been watching INFA for a long time now. Think it could bag from here.... gla LTH
Could it be the renaissance? The 500921 was me rounding up a number.
Up 8.39% on no news or apparent trades...........What's just happened?
The first line of Avyererdowt's 10.28 post puts it in a nutshell. It's not the amount of time the discussions are taking but the expectations raised at the end of last year. The slipage gave the manipulators their opportunity and they seized it.But I've posted about all that before. The invested manipulators sold out around the 1.8p mark and put their gains where they opined that it would multiply. So far they have not returned to INFA because they are waiting for the definitive word that the deal is done. And they wiii know! So just watch for the switch and a big increase in buying activity.
JW showed a bit of naiveity in his miscalculations when announcing progress. Apart from that he's been excellent. But a 60% fall in the value of any shareholding is not going to please anyone except those who sold out at the opportune moment. The story continues. I only hope it may have a good resolution. And soon please!
Considering, we are hoping to get back our investment in project monies.
The last four RNS’s have been all over the place, regarding that figure, ranging between 14.5 mill to 11.5 mill. Would be good to have some clarity on this. GLA
Morning Silverlight, tbh thought I'd get my head snapped off if an I'magee resident popped on here, & may still might lol, but always happy to chat...