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So Harriet posted some selective pages from a 2008 report on UG gas storage
Bit decided not to highlight the pages that state
1) risks considered negligible
2) a lot of the listed cases (last one in 2002) not applicable to newly mined U.K. salt caverns
3) the list of sensible measures that need to be done when building the caverns.
Bless them they highlighted a report that actually reads very well for U.K. salt caverns storage
Another 74k this morning following one at close yesterday.
SP ticking up on steady buying.
Bit of Friday FOMO or is it finally about to be let go.
Hope so, I'm running out of rum down here. :)
Anyone going to the London event? I'll be there
Are we in auction now?
Someone is building a nice position in here. Looks like the breaks will be off today. Good luck everyone
That's a corker ...just what we need,namely a TR 1 and a little Red Dot tomorrow ...confident of the former ..still not sure about the latter but,hey, £75K or whatever the figure was is ***** ! Sleep Very Well Folks !
By my calculations, that’s over 3% now, notification ether tomorrow or Monday. IMO
Reminder that INFA will be hosting two shareholder update evenings in London (8th May) and Leeds (14th May). Email Infrastrata@yellowjerseypr.com to register attendance at either/both events. More details can be found here: https://bit.ly/2Kr6Sab
Thanks Spud.
As I said earlier all makes perfect sense to me.
Mr T
that's the one Spud - im not senile after all - phew
Thanks spud, interesting stuff.
I found this document on DAERA page, a Q&A pdf which has been recently updated (April the 17th).
https://www.daera-ni.gov.uk/sites/default/files/publications/daera/QUESTIONS%20%26%20ANSWERS%20%20version%202%2C%20April%202019%20%20ML%2028_12%20applic....pdf
"The total Environmental Statement, which will include updated
documents from the original have been requested. Once the Company has submitted these,
DAERA will review and instruct the Company to make the documents available for public
consultation in due course. "
If I understand it correctly, they are still waiting for some paperwork to be delivered by Infa which will be then assessed and only then public consultations will start. Which makes me think that the consultations and workshops that occured in March were not part of the process.
https://twitter.com/FabulousFuture2/status/1115168807016902658?s=19 Found it!
https://www.gov.uk/guidance/make-a-marine-licence-application
Hi Spud - from memory someone did a series of tweets about the marine licence form and once of questions it showed was about adequate funding for project - did a tweet search and didnt find it but was definitely shown - not much help im sure but i remember seeing it at the time (maybe a month or so ago)
I think I read it somewhere but I of course could be mistaken.
Drawing on my own feild. The local authority/planning dept. don't care if a client can afford an extention/new build. They just want yours plans to meat requirements and adhere to building code. And take a fee, obviously.
Just sayin'
Spud's incorrect I think Would be interested to get that clarified.
I'm also trying to draw parallels to the mining industry, explorers in particular, where it's quite common to complete all the permitting work without money in sight. It actually makes a lot of sense - building an underground mine costs some serious dough, which explorecos, being small as they are, simply don't have. Their game plan is to raise money via new share placings after all the paperwork is cleared (which usually boosts share price).
Sometimes, however, market conditions drag the entire sector down and our exploreco is unable to rise enough cash through placing, so they sit iddly on the fully permitted project until conditions improve or sell it to someone who's in better financial position.
In mining it's not the company that receives a mining permit, it's the project itself that gets permitted. It means that the project is green to go regardless of who owns it or runs it, and can be sold without losing its permit. But that also means that financial backing of the project is a non-factor in the permitting process, because:
a) a project is not a legal entity and has no finances of its own
b) a project can be easily sold between companies in completely different financial positions
MrT
I agree it would be pointless to apply without having a follow-up plan, but that's a separate issue. Once you've applied, I don't see why the regulator should care whether you have money to complete (or even start) your project. It's job is to determine whether your project, as described in the documentation provided, meets certain environmental standards and requirements prescribed by law.
Preparing and submitting your application takes time and money so, again, I agree it would be unwise to do so only to sit on a licence afterwards, with no money to actually kick things off. That's, however, none of DAERA's concern. Spud said quite clearly that "one of the conditions to convert draft to full licence is finance in place" so I'm curious where it's coming from as I couldn't find any mention of that in available guidance materials.
Succinctly put, as usual, spud. Hope you had a good holiday.Go well.
Kib,
Put it this way, if you are applying for the licence and you agree to meet all of the standards within the document you are submitting then I would guess you would have to explain where the financing is? to be able to meet all of the standards you would be agreeing to. We are not talking about a Pontoon licence here we are talking about a new infrastructure project worth hundreds of millionsof pounds! if you simply submit the necessary forms and documents with no form of financing in place then it would be dismissed? and quite rightly so?
The Company has to follow the correct procedures here as it has with the draft licence in order to proceed to FEED, look at the application forms and the conditions that have to be adhered to? you will need money and plenty of it, believe me in order to facilitate the conditions.
It may not be a pre requiste of submitting the actual licence application, but in my view it would be pointless applying unless you have the finance in place to be able to act in accordance with the conditions set out within the application.
That's my view.
Mr T
"One of the conditions to convert draft to full licence is finance in place."
Are you sure about it? I went through some of the docs available here
https://www.daera-ni.gov.uk/articles/marine-licensing
but there's no mention of financing being secured as a pre-requisite. In fact, I don't see why a regulating body would be interested in finances at all. It would be like passing your driving test but only getting your driving licence after you prove that you can afford a car.
Didn’t realise that was also a pre-req Spud but makes even more sense. A lot of noise being created about nothing and all from those with a bias.
Spud
That makes perfect sense.
Mr T