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MM games, I think 5.55 - 5.56 trades, expecting an early rise this morning
Got to be something to do with the latest term sheet received on 17th December then? (After the presentation)
Slide 9 from the presentation in London in December is very clear. 2 caverns in phase 1. Have a look at that one again - I forgot it outlines potential future projects as NewCo’s.
Knowing your day job loosegoose, I take your post very positively.
Enjoy the après ski
I too do not recall the possibility of a 3rd cavern being included in Phase 1. It was always 2 and then 6. More recently the possibility of a further 15 - but that potential project is not formally announced nor included as a project in the website under the Projects “tab”. The shorter timescale together with investment synergies should change the economics positively. Interesting and good news IMO.
Pointed out to me by another investor (Stephen Jones)
From the annual report
"Therefore, Phase 1 would consist of 2 or possibly 3 caverns "
First time the possibility of 3 caverns for phase 1 has been mentioned (as far as I know anyway )
A 3rd cavern would give infa and equity partners more income in a much shorter timescale, which would surely change the economics?
Post 2 of 2
E. The board should ensure that workforce policies and practices are consistent with the company’s values and support its long-term sustainable success. The workforce should be able to raise any matters of concern.
The board should present a fair, balanced and understandable assessment of the company’s
position and prospects….. Remuneration policies and practices should be designed to support strategy and promote long-term sustainable success. Executive remuneration should be aligned to company purpose and values, and be clearly linked to the successful delivery of the company’s long-term strategy.
What can you say…. “Viva Infrastrata and it’s consumately professional BOD” !
Post 1 of 2
Graham Lyon Non-Executive Chairman 4 January 2019: ……‘The Company has adopted the (Financial Reporting Council’s) Quoted Corporate Alliance (QCA) code for corporate governance, this communicates the board's aim in "doing the right thing" for its shareholders and stakeholders in the medium to long term. ………….We look forward to another positive year for the Company………’
Here is some extracts from the updated latest version of the QCA code: July 2018
https://www.theqca.com/news/briefs/143736/new-qca-corporate-governance-code-released.thtml
‘The FRC’s mission is to promote transparency and integrity in business. The FRC sets the UK Corporate Governance and Stewardship Codes and UK standards for accounting and actuarial work; monitors and takes action to promote the quality of corporate reporting; and operates independent enforcement arrangements for accountants and actuaries. As the Competent Authority for audit in the UK the FRC sets auditing and ethical standards and monitors and enforces audit quality.’…… ‘To succeed in the long-term, directors and the companies they lead need to build and maintain successful relationships with a wide range of stakeholders. These relationships will be successful and enduring if they are based on respect, trust and mutual benefit. Accordingly, a company’s culture should promote integrity and openness, value diversity and be responsive to the views of shareholders and wider stakeholders.’…… ‘At the heart of this Code is an updated set of Principles that emphasise the value of good corporate governance to long-term sustainable success. By applying the Principles, following the more detailed Provisions and using the associated guidance, companies can demonstrate throughout their reporting how the governance of the company contributes to its longterm sustainable success and achieves wider objectives.’
PRINCIPLES: BOARD LEADERSHIP AND COMPANY PURPOSE
A. A successful company is led by an effective and entrepreneurial board, whose role is to promote the long-term sustainable success of the company, generating value for shareholders and contributing to wider society.
B. The board should establish the company’s purpose, values and strategy, and satisfy itself that these and its culture are aligned. All directors must act with integrity, lead by example and promote the desired culture.
C. The board should ensure that the necessary resources are in place for the company to meet its objectives and measure performance against them. The board should also establish a framework of prudent and effective controls, which enable risk to be assessed and managed.
D. In order for the company to meet its responsibilities to shareholders and stakeholders, the board should ensure effective engagement with, and encourage participation from, these parties.
E. The board should ensure that workforce policies and practices are consistent with the company’s values and support its long-term sustainable success.
Not without ANY debt funding Lurker!
"The level of debt that the Project will require is being modelled currently. Several potential equity project partners have indicated that they may fund a substantial portion of Phase 1 of the Project and, therefore, a large amount of debt finance may not be required."
We will have to wait and see which deal JW & co go with.
It will, imo, be the best long term deal for infa shareholders.
The company will be income generating very soon
Evening Lurker, Would you like me to have your last two posts removed, then you could have another go at them. Lol
O&W Correction. I mean project equity. Not INFA
O&W Has my latest reply been deleted again ? Is it that aunty creature ?<br /> I'll repost a bit later (also on t he other place) and get Scott Grant to tell his team to act more responsibly. Meanwhile my point is that there is clearly enough investor interest to make a govt or EU loan an unnecessary use of taxpayers' money. The co has said (hasn't it?) that investors are asking to invest in phase 1 without any debt funding, which means they want to load up with INFA equity.
Sorry Lurker but not entirely sure I see your point. Are you telling us that of the multiple options on the table that any debt based funding government and/or otherwise won’t be considered? Given the multiple discussions underway I think it’s clear the INFA team have a project and options available where they do not need to be dictated to. The government backed security also carries heavy weight to any negotiations.
Snow is good. Quite cold at -7C. Even snowed this week at lake level in Switzerland.
Plenty of snow goose? heading over myself in a few weeks, best ski area in france for me.
Nice kick up, has the big buy been filled ? look out for a delayed transaction going through later.
Yes nice to see it pushing back into the 1.3's
What a nice day. “Slow” move higher on low volumes despite no new news. When the news starts to pop in the coming weeks it should be fun. On top of that, the weather in Chamonix was great.
Lurker, good morning.
Not guilty as charged, sir. I was as surprised as you to see it there temporarily, and then removed just as swiftly.
I stand by my remark though. Any potential equity partner won't look a gift horse in the mouth, with this EU grant of up to EUR40mn, even if they have deep pockets themselves. It is only going by established EU process for a PCI project. The EU Commission is well aware that IM is a private venture and will be largely financed by private funds, so we'll see if they decide to pass on this particular application.
Anyway, as others have already said, the project will stand or fail based on its economics without state aid. We shall soon be a lot more clued up in this regard.
Is your definition of a troll, someone who injects reality onto the board ? If so, grow up, and go somewhere else.
Lol. Cheers spud. I did that last time and got the warrants the wrong way round :-)
Other way round EG
yep. Cheers.The end of the month sees the last of the 0.48 warrants so I would expect a good rise after that.
The 0.6 warrants have another 2 years so likely will be drip-fed.
You sound like a troll lurk. It won't work on THIS board
O&W Why was my reply to you yesterday deleted ? Who by ? I said that if there are enough investors willing to support Islandmagee, the EU would b remiss in offering a grant from public funds. It seems enough investors might have come forward since the co applied for the grant to make it unnecessary. The co will have to ensure the investors will sign up before making any comment or withdrawing its application.
I hope you're not bringing the habit from another board of having posts you don't like deleted. Infantile in the extreme.
What is encouraging is that these exercises are now going on at this new higher sp level, and being absorbed.