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https://polaris.brighterir.com/public/infrastrata/news/rns_widget/story/xo4l12r
Recommendations delivered to government on time which in itself a positive which suggests to me some urgency to get the gas storage caverns underway.Infa will have any negatives in the recommendations covered and I suspect it won't be too long a wait for final approval.I find it hard to believe that infa aren't aware of the final outcome.
I have a quick read of the trading update and my initial views are:
1 I have a concern over one statement in it. It says 'he Company has been making steady progress since the beginning of the new financial year and the Company's management accounts show revenues in the eight-month period to 31 March 2021 stood at c£6.50 million.' This seems inconsistent with the statement in the annual accounts that monthly revenues are in the line with the revenues for the whole of the year.
2 I note it states that it says that regular updates will be made in the future. This is something that I myself have asked for.
3. I also note that Methil is operational but nothing is said about income from fabrication contracts. In fact we have only ever been given information about the cruise and ferry market.
4. Discussions on defence contracts seem to be progressing I would hope to see some contracts soon either direct or sub contracts.
On the whole this update gives me confidence on the future and I will remain invested and as funds allow wold look to increase my holding.
Clearly something encouraged infa to employ Mr jessup/jessop project manager.
Encouraging update and great to know regular updates will be forthcoming from now. Updates are the lifeblood of aim companies. Even if infa don't know, can guarantee as soon as anything is made public (leaked?) the protesters will be all over twitter be it good or bad news for us. So watch this space and no doubt we will know very soon what the recommendation is
Excellent news ,next one ML
Twas in my researched opinion significant that the president of Nigerias visit to the UK over the last few days and the ML licence recommendations have occurred in a very similar time frame..The caverns will need gas and that supply of gas would be logistically better from West Africa and also likely a more secure source.might be nothing of course but a consideration.
All set up very nicely,regular updates tells you more news pending possibly ML license or MOD contracts let's see ,very good update imho
I agree Chitta. I hope the protestors submit an FOI request and find a nice surprise. I don’t know the process, but I would imagine if it was bad news, it wouldn’t get recommended to the minister. We all live in hope!
ban4118 In relation to your 08.35 post if the Minister is the decision maker then both a recommendation to refuse and a recommendation to grant the Marine License would have to be sent to the Minster for him to decide.
Ban ,yes why do you think Boris visited Appledore,wasn't for a day out fishing !!,the clue is there load up!!!
Ban,agree with you re ML licence
I think we disagree Stokey. DAERA would not waste the Ministers time and would expedite the decision if it was a clear no. I remain optimistic and I bet if you look at previous applications I will be proven right. Happy to be proven wrong though.
ban4118,
I wouldn't be happy for you to be proven wrong!