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I know people are a bit cheesed of at the moment but we are a million miles from when we were in the 'Last Chance Saloon' a few years back so it is a matter of being patient & the good ship INFA I am sure will dock soon.All enjoy this weekend of sport.
Chris,
Yes I think many are cheesded off here at the moment, after such a fantastic end to 2018 and initial start to 2019 things appear to have gone from bad to worse.
I think JW got things wrong, by that I mean he misinterpreted the timescales involved here in particular regarding the financing arrangements. If you remember around December 2018 it was inferred that financing was well advanced, then we had the news of additional parties being interested! this was good news and everyone thought so at the time, the more interested parties the better deal for Infa.
However these apparent negotiations have dragged on so long that investors have lost patience and interest, yes we have had news of the offtake, but we need the finance part of the equation being settled. I can't believe such things as licences have anything to do with the hold up! surely anyone involved in these negotiations are aware of those issues, if they are indeed an issue?
The initial finance deal can be settled and announced "subject to" any issues arising? That will then let investors know of what proportions Infa will retain, what management fees they will receive to manage the project, and ultimately what valuation can be placed on the Company.
The sp today reflects no valuation whatsoever for the project, therefore in my opinion we have much too look forward to and hopefully the sp will at least start to rise, and volume will appear.
Mr T
I personally don't think JW got things wrong, I don't recall financing was at an escalated level- just that there were several interested parties/ Banks- Financing was never going to accelerate until Off-take agreed (which it recently has). The SP nose diving for me started when the Alleged broker letter stating issues that were not issues was released ultimately ending with their removal (next month). The Brokers are the conduits to market and I am sure they can cause problems if they want to... AIMHO
I agree with Tango1 and let’s not forget, we are talking about financing 7, not the original 2 caverns. Slightly more money to factor in and there is now clarity over the long-term demand. JW won’t care about short-term holders as he’ll know they will sell on a spike anyway. It’s painful at times, but I believe patience will be rewarded. I met him in Leeds and was very impressed. He clearly doesn’t know how to work AIM, but he’s after a bigger prize.
I feel quite comfortable with where the company is. We need to distinguish between where the company is and where the share price is. The only thing that irks me at the moment is that we still dont know why the Eu funding was not received in the 8 weeks timeline. Why committ to an 8 week timeline if it wasnt certain? I would very much appreciate to hear what the rationale for the delay was.
Hi Loosegoose - I believe that the delay to the EU issue was that there was to be an audit something I suspect they had overlooked but they are usual & I have been through one myself when working for a Charity as their interim Finance Manager.
For all we Know, Vitol could be the next equity partner and could quite easily fund the FSRU project as it is bang inline with their growth strategy, Just imagine what that RNS would do to the SP just a possibility but a very plausible one! AIMHO
Nail on head,Mate ...once again.IMHO Vitol will have of course known about the FSRU project and been highly supportive as it provides a reasonably well advanced (but rather dormant) entry into the supply of LNG to the UK market. Yes,there are other terminals but not enough for future likely needs especially with uncertainties over Europe.
You are correct to surmise that Vitol may become even more interested and connected to us. I will not forget JW telling us at a meeting in the Spring that it was one of the most difficult decisions of his commercial life so far to postpone deciding on our Offtake partner in December. He has several lined up and along comes Vitol .
The BOD do not monitor the daily SP ...they are focused on the year end here and when the jigsaw completes at last our patience will be rewarded.The Short Termers will then jump ship and we need to stay on the deck ...firmly ....anything could happen with friends like Vitol . JW and AR are not fools nor inexperienced here ..as you all well know !! By the way,i was not one of the placees at 1.2 ..would not know how to flip a coin !
Whatamess- I think the Euro zone is going through a change of management so INFA will be quite low on their priorities at the moment-But it will come soon enough, Just my thoughts.
Still baffles me that they wouldn’t know about an audit if it is standard. Furthermore why not take the time now to explain the audit process normal timelines etc. silence doesn’t work for me when we are talking about reducing risk and therefore reducing uncertainty.
The company won't disappoint. The sp might ;-)