Member Info for Radders99

He did say that yes Snowman, but I believe that news could be dropped anytime from now up to Mid June, given his comment about "a few weeks" IMO. Hopefully not but think its best to be realistic and not be getting overly despondent if no news in next couple of weeks. This is a deal securing the future of the company for the next 12-15 years.

Would you take 3.5p Nobby ?

I can just hear the sounds of “Je T’aime” in the background Snowman as you were writing that

Agreed .. recalling Johns exact words in presentation he was hoping to do deal before May 8th but for the sake of a few weeks it was worth making sure all was in order. Post meeting I am sure a couple of weeks was mentioned. So I guess my hope is 1-2 weeks and worst case weeks not months. Interesting to get feedback from guys tonight

Agree with Loosegoose. The BOD appear to be doing right thing for long term prospects of the company and not the short term SP. The perhaps tactical error was bullishness on equity partner prior to better offer coming in. If I was sitting on a steering committee presented with the potential of including all 7 Caverns and bringing that FID forward a year it would get my vote. I would guess a week or two away from Offtake deal being done

The meeting on 8th May, think his words were broadly he would rather wait a couple of weeks and get it right, but had hoped to have concluded before the meeting.

As I recall they have one who is the primary candidate much closer to the preferred terms. Hopefully that particular deal can be done within next couple of weeks (JW said he had hoped to conclude before the meeting) and calm everyone’s nerves

Thanks Dawski and nice to meet you. I can feel the frustration from some and I guess if you were looking to cash in fairly soon then not great news, however for Long Term Holders I genuinely feel this remains positive. Hopefully nerves will be settled when Offtake agreement settled.

There was a detailed slide on Marine Licence which he addressed fact that this was main target of protestors however was fairly strident in that this is exactly where you would expect to be at this phase of the project with the Marine Licence. I specifically asked if any of the key milestones on the slide which included, Offtake, Equity, FID were dependent on the Marine Licence and JW said No. Final submission with all new findings will be submitted in May and John was also fairly confident that all boxes had been ticked and this was a fairly binary exercise. Have to say I like you Snowman felt fairly negative when it was fairly clear timeline had slipped, however was reasonably convinced that this was all fall the right reason and better long term benefit for the company. I left feeling positive but slightly unsettled, I think if Offtaker is deal is concluded in May that will be sign that this isn't all slideware.

Aunty is entirely correct. FID for caverns 3-7 was Q4 2020, so although FID for 1-2 has slipped the scope has expanded and 3-7 has been brought forward by 12 months

Appreciate that Whatamess.. my hope is that Wednesday morning will be a meaningful RNS, but recognise that these desks are complex and if it takes a few weeks longer then so be it.

You would hope that at this stage in the game a few weeks away from the FID milestone that the timing of the shareholders meeting had some significance. JW gone silent on Twitter also so assume it’s been heads down sorting out the contracts

Agree Setanta.. based on Spuds earlier observation funding has to be in place before Marine Licence .. so perhaps a bit of a Red Herring ! Key Milestones are Offtake, Equity Partner, FID hopefully all before end of June

If I read this correctly as at 17th April Daera had verbal update but key documents had not yet been resubmitted. Once resubmitted and they had time to review they would confirm what type of public consultation is required
https://www.daera-ni.gov.uk/sites/default/files/publications/daera/QUESTIONS%20%26%20ANSWERS%20%20version%202%2C%20April%202019%20%20ML%2028_12%20applic....pdf

Agreed disappointing and the 2p tease did set expectations rising. However I do get why this has taken the time and realistically don’t expect the big news now until the end of May, with perhaps another holding RNS on day of shareholder meeting. The Marine licence is slightly worrying I suspect as the protest group have made such a big thing of it, but it does seem INFA have gone about things entirely correctly with full transparency, so hopefully it’s fairly binary in terms of boxes being ticked. I am also going under with the rum

In today’s RNS
The Company is currently in the process of submitting its final set of documentation to the EU Commission towards recovery of the balance grant monies, per the Grant Agreement financed under the Connected Europe Facility (CEF). As part of this process, the Company has now appointed two separate entities to conduct an independent financial and technical audit respectively, a condition that has been stipulated by the Department of Economy, Northern Ireland. Following completion of these audits, the Company will submit its final documentation pack. The completion of the two audits and final documents is expected to take place by the end of May / first week of June with the balance grant monies paid to the Company 6-8 weeks immediately thereafter.

Agreed and look forward to the meeting on May 8th

Agree entirely Mr T. Good RNS for LTH IMO but perhaps not if wanting to cash in now. I topped up and will await the bigger news. Will worry if I’m same position in July

Doesn’t RNS from 18th December clarify ?

Thanks Setanta appreciate your words of wisdom. Hopefully news soon, but patience required