Member Info for MrTriumph

Speedy
JR. Where did you find those additional 21 employees?
Down that hole he's just this minute dug!!!

Mr T

JR
If you are who you say you are and if you are or have been involved with energy projects before you will know the answer to your own question.
Stop asking silly questions!

Mr T

It's been muted that in order to get the EU to agree to the latest brexit deal, the UK government will pledge to invest huge sums of money both in the north of Ireland and the south? to aid infrastructure projects.
Now if that's not a positive I don't know what is!
Obviously any deal has to be passed beforehand, the huge stumbling block, but it appears the hard brexiteers in the conservative party are going to vote for it, one hurdle cleared, the DUP will vote for it, two hurdles cleared. Just another two to clear!!

Mr T

Spuds
Ah was he? I've obviously forgotten his immense input, can't say I recall him at all

Must be an age thing.

Mr T

JR
You are right re monthly cash burn in respect of the items you flag up.

However would you not think there are contracts in the pipeline to facilitate these costs, I would doubt very much if this was brought on the off chance there may be contracts to come in? In fact I would be amazed if these are not already sorted, the IM project should come on board in earnest in 2020 therefore contracts will be required to generate cash to meet the bills.
I would urge to stop thinking that infastrata are running this through their business, this will be run as a separate entity and therefore it is irrelevant that Inca has little cash. Although once the 1.6M is received from the EU then infa will be fully funded.
Finally, I would not want your other suggestion other, a company with no contracts but its ok because they sit on a mountain of cash to support it? Not very good business sense is that I have to say.
Are you a shareholder JR?

Mr T

Snowy
I would suggest much of that article is inaccurate.
It talks about the 1.6M EU funding as if Infastrata had negotiated this as part of the finance for H &W which both you and I know is complete and utter tosh?
Also the term unfavourable debt seems to have been made up? This was not in the official RNS.
As always lazy reporting from a lazy reporter!?
Mr T

JR
If you wish to be educated I suggest you fully read the RNS re the purchase of H&W, you will see it will be run as a separate entity and working capital funding will be sought.
The business comes debt free as it has been bought out of administration, so the basic maths re
Cost 6M
Loans/equity to purchase 6M
Value of asset conservatively put at 11M
Therefore this business will restart as a new entity, as I say, debt free? Apart from the loans and equity to purchase. Essentially a fresh start but the important caveat is, not only have Inca acquired the assets, they have acquired the name. They will then look to acquire new business, but the business will be underpinned by the work they will be involved with in respect of the IM project. Therefore cash flow will be incoming from that project and hopefully other projects will come on board.
Its a no bringer for Inca as the goodwill it promotes in NI is priceless and it will ultimately save Inca costs in the overall construction of the IM project.
As I point out you refer to massive liability burn, I assume you refer to the H &W business pre administration? This is a totally new business with no debt apart from loans to purchase. I have to say most large construction businesses retain bank debt to operate, its all about how that is managed and kept with certain levels so as to be able to be serviced by income streams and profits.
This could be a masterstroke of JW's imo, lets see how we go once all of the agreements are finalised.
Mr T

Snowy,
Is this what you refer to? listed under October?
Corporate
Final payment against EU Reclaim for completed FEED works

Q4'19
Release of revised construction tender documents

October
Appointment of Chairman
Q4'19
Heads of Terms agreed for project equity funding
Q4'19
Equity funding agreement executed

Mr T

Whatamess,
Bang on with your view, I'm afraid our friend Mr Ewing is living in the past and can't grasp why Infa have purchased these assets at such a knock down price??
He will eventually I'm sure if he keeps looking at the RNS!!! and then maybe understand the financial savings to Infa and the IM project as a whole.
Also yesterday's RNS demonstrated that the board can raise significant funding/loans should the need arise? a very good point in view of the need for raising to fund the IM project at project level of course.
Mr T

Project update
All milestones met

Mr T

JR
If you read the RNs you will note how Infa intend to fund this acquisition.
Also if you read further they explain how they will raise working capital to fund the operations.
You also state "monthly liabilities" which may be the case initially, however if they are working on the construction of the IM project then you could assume they will be receiving income in that respect, therefore with other contracts being sought by H and W then it is fair to assume monthly liabilities may be turned into monthly profits? Lets look at the positives instead of the negatives?
Hope that allays your fears.
Mr T
PS anyone seen or heard from me old mucker Tidd?
Mr T

Exactly, I was taken aback at the open today when the sp initially fell back. Then again there were a lot of negative comments around particularly on twitter from I suspect active protestors. Our friends Lees was one of those voices I noted!!!
Yes this is a risky move by a minnow, but I think the team we have in place here are second to none and this move has proved that here today. I would call it a masterstroke and would reiterate all of the positive reasons listed on this board today by many posters. I also think the IM project is a 100% certainty to go ahead despite the naysayers, and I also predict that JW will indeed meet all of the milestones he has set out in Q4.
With so much more positive news to arrive, and you never know, maybe JW has something else up his sleeve!!! I can see us going on a strong bull run up to year end here.
Snowy over to you for some more ramping lol!! and much deserved mow indeed. The sp is lagging far too far behind with what is going on, come on SS Infa time to up anchor and move northwards.
Roll on tomorrow lets see what delights are in store.

Mr T

I think BoJo is just what was needed in this situation, someone who would stand up for Britain's interests and not be bullied by the faceless beuracrats of the EU, just what Mother Theresa did!!let herself be bullied by those and those in her party who did not want any form of Brexit, ie, Spreadfear Phil to name but one!
Nice to see a blue end to the day, I expect further upward movement tomorrow, this I feel is well overdue for a correction and today's news makes that even more imminent.
Mr T

Yes a raft of positive news on the horizon here, I see the sp moving sharply north in the imminent future.
Today's RNS could be a masterstroke, yes it comes with risk, however without risk, no reward. The coverage will be good, and the goodwill achieved will be absolutely fantastic for the upcoming projects.
Now EU, where is our money, hand it over pronto, please.

Mr T

Well that certainly has taken everyone by surprise and also jmo indicates why the Islandmagee project has been slightly on hold this year after indicating funding was close early 2019.
This is an excellent acquisition at a discounted price and reading the context the savings to the IM project outweigh the acquisition and if Infastrata can make a success of the acquisition could be a game changer for the Company.
It also firmly indicates that the IM project will come to fruition and that they are fully on track for FID inQ 4 as reiterated in the RNS.
Certainly good news and a game changer imp.
Let the news continue now until year end.
Well done JW and the current board.
Mr T

Morning Snowy,
I can't see why JW would print the milestones if he didn't think he would achieve them in a timely fashion. Its déjà vu to this time last year with the run up to the feed completion and then finance news. In my opinion this project revolves round Vitol, I expect them to be heavily involved in all aspects once the current milestones are met, I also expect the so to react very positively once the newsflow begins in Ernest. Talking of which, where the hell is the EU grant, Jesus no wonder we need to leave this hopeless institution if they can't even sign off piddly grant claims in good time. It beggars belief that we still haven't received this money which as far as I understand is legally due to us. I would think JW is staggered by the inefficiency of this organisation when these funds re needed by the company to avert any unnecessary fundraising!??
It is now paramount that these funds are paid to the company as soon as possible and an RNS released to confirm this has in fact happened.
I note that in my area we have recently been granted a wildlife status around the local canal?? Suffice to say nothing has changed apart from a few sign being erected to tell us this???? Ah and they have been sponsored by the EU!!! Must have cost at least 20quid or so???
You see the EU does do some sterling work for communities in the UK??? believe that and you could believe anything!?
So lets see them do Something useful such as paying over the funds due to Inca, and pronto please.

Mr T

Morning all,
An excellent update today and we are back to setting out the milestones which was exactly the method utilized for FEED.
Now lets get them ticked off one by one during the next three months and we will be back on track. Plenty to come here and the sp should react very well. Where was it early 2019???
Come on JW show the doubters they were barking up the wrong tree all along, the mm's have had their fun, now the serious work begins and lets face it, this project is sorely needed and fast.

Mr T

It wont take much buying for this to tick up substantially imo, a few piddly sells early doors followed by a few piddly buys and it turned blue!!!
September is not far away, watch this move once the buyers return in numbers.

Mr T

Despite looking bullish and buy's vastly outweighing sells, the mm's appear reluctant to move this up at the minute.
Maybe over the next few sessions that will change provided buy's keep clicking in. I would like to see this back into the .070's in the very near term, it should not be where it is.

Good luck
Mr T

Setanta
All red herring stuff! JW has assured us that all correct procedures are being followed and that "as a EU project of common interest( the project) is enitled to to receive expeditrd time frames in relation to licencing and permitting. So that's quite enough about that!
Factually correct and I agree as I have stated on here many times. I keep on reiterating, why would you grant a draft license in the first place to an applicant, the applicant then meets and exceeds all your requirements but then is refused the full license? On what grounds? it would be a pointless excercise and as I keep repeating a total waste of everyones time, money, and expertise.
Therefore the license is a non issue for me, I just think it's been made out to be an issue by those opposing the project and to a certain extent the manipulators in the market. Hence the silly drop in the sp, added to the delay this year and the placings.
September is around the corner, the action will begin then leading up the year end IMO!
Have a good weekend all, off to the sucker now!!

Mr T