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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.
Hold tight mate. Everything is under control. Marine licence not a problem and it's all 7 caverns in one go, very brief summary
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
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
Thanks for the feedack.
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
Brilliant update aunty again, I tip my hat to you (and dawski, don't want him to be jealous haha)
I may have mixed up a few of the details, these negotiations are complex, way above me. John is a very clever and astute negotiator and won't take the first offer tabled if it's not in the best interests of the company. The structure of the company looks sound, in fact Arun said the cash burn is only between 20/30 grand a month. I believe millions will be pumped into the company within the next few months. Solid company with a big future, you can't say that too often on Aim!