Member Info for Setanta1

on this BB today. From imminent fund raising to be revealed after 16.30 , to consolidation, and even to investors selling to finance Black Friday purchases, ( I wonder why they're all in INFA ). Every poster is entitled to his opinion and, for what it's worth mine is that there are speculators here who are testing the waters to see how low they can bring the SP, (with a little help frm some chummy MM's). The selling pattern has been typical of such a scenario for the past few days. Early and late sells But we'll see!
Just one add on. I have never been impressed with JW's nous when it comes to dealing with AIM. Almost all of his interviews and RNS's have had negative consequences as far as the SP is concerned. And I also believe it is very much part of the lead BOD members job to understand AIM so that he/she can protect the shareholders interests. Without shareholders INFA would be dead.
Finally, I agree with crl123, and I would have been much happier if the FID for Islandmagee had been finalised before activity in new projects had been started. I would also like to have seen the new Chairman appointed, (or a good reason given for not making an appointment ), when the six months time scale had elapsed. These slips encourage the hyenas!

This morning there have been seven sell trades of over £1K, and one or two of those have the appearance of a rollover. So not a huge amount of contrary activity. My guess is that it is a bit of market manipulation by those who want to see how low they can take a newsless, nervous share.
I do not believe it is related to the H & W purchase because the balance of the finance is not due until the end of the year.
INFA certainly needs some equivocally positive good news and until that arrives the SP will be at the mercy of a pitiless market. I do not believe we will see an important RNS today. It's the market

Hi Tango, I don't want to be overly tendentious but you misread the part of my post about the financing.
The £.5B ,(not £5M ) relates to the combined financing needed for the Islandmagee project and the FSRU project.
Nowhere did I say that the debt/ equity should have been agreed by now.

Hello crl123 ,good to hear from you. I sometimes have a look at the other one of yours,(assuming you're still there). It seems to endure good and poor time to remain, more or less, the same. Go well.

Had the misfortune to fall foul of a few very well researched and loyal supporters of INFA and its BOD. Tango, Speedy Gonzales and especially Mr. Triumph certainly know their onions in relation to INFA. But I think you've come down too hard on Blair Peach. In his defence I think you all should note that the comments in his 16.57 post relating to the EU funding and the slippage in the appointment of the new Chairman are correct. And ,Mr. T, I understand why he may have taken the 1.25p placing as a kind of benchmark because it certainly marked the end of the jiggery pokery by the Twitterati group ,(and others), in the INFA SP and marked the close of their very profitable,(for them), sell out.
Tango I think we should ignore the people who posted at such length and so boringly about the probity of the Islandmagee project. If INFA is within the correct limits for the Marine Licence it will be granted. If INFA is not within those limits it will not be granted. JW has left us in very little doubt the we are within safe limits. The residents are entitled to ask questions and the company must answer. JW is seeing to it that the exercise will be conducted correctly.
Just one last comment and that relates to finance, and in particular, to the raising of the punitive Riverfort finance. INFA is looking to raise £.5 Billion in finance and we are assured that the Islandmagee part of that is more or less assured. They then can't find the funding from any of the lenders they have been talking to for over a year about mega millions, nor will any of their putative partners make it easier for them to raise finance for H&W. That is almost unbelieveable and suggests a lack of confidence. I know a bit about what very big companies will do to assist a minor with whom they intend form a partnership and the first instalment of H&W should have been a shoe in.
So easy on Blair Peach. I liked some of his earlier posts. And contrary opinions are good too!

Only as an add on to my post. I am concerned that the selling pattern today may indicate another money raise. More Riverfort?

Thanks for you response. Just two points I'd like to make. The DD's were deferred to the year end because that is what was permitted in the initial negotiations. The "request " by the equity partner that INFA should investigate the FSRU is heresay. We don't even know who the Equity partner is so it can't be verified. The alleged savings for the IM project are also heresay from JW with no evidence whatever to back it up.
The fact that INFA had to raise the dreadful recent finance doesn't speak too loudly for powerful potential partners.
I have had more than a little faith but I think it's high time that faith is rewarded. A share price that has been allowed to fall 80% in nine months has ccertainly stretched that faith.

The malaise with the SP has nothing to do with the local residents most of whom are not shareholders in INFA.
The Marine Licence will be granted, or not, on it's merits and that's exactly as it should be.
The share price malaise is related to the lack of any news over the past nine months that might be considered unequivocally positive, added to a recent silence by the BOD in relation to the IM project which contrasts with interviews and tweets which did little to convince anybody of positivity.
JW seems to be an excellent man but I,for one, would like to have seen him complete on the FID decision for Islandmagee before taking on additional projects. He gives the impression that he has very little understanding about how AIM works. It is all about TODAY! Surely he should be able to give more precise information about the status of the EU money. Going to the EU and then informing his shareholders that the money was still not available in July but that his questin about whether it might be available in Srptember elicited a "smile" by way of response wasn't very professional. Not being able to name a Chairman after a seven months period, nor give a reason for that important failure, is not too encouraging either.
There are not a vast number of private shareholders in INFA. The way in which the shares are traded makes that obvious. What the peculiar share movement encourages is a periodic inflow if interested parties followed by a quietness. But then everyone is entitled to post. One doesn't even need to hold shares.
Message to JW. It's time for some devestatingly solid good news. Given that we had a debt option sorted last December the current lack of positive news is very disappointing.

or so it seems when it relates to the Islandmagee project.
INFA has been denied a study grant from the EU, one they never expected to receive, and one they applied for more in a spirit of cooperation with MEL who will be advancing the SNIP for their own commercial benefit.
Snowman wonders whether the reversal will be delayed and he suggests that MEL need to "get a move on". He even feels "jittery". I understand some of your concern, Snowman, but console yourself that MEL have about six years remaining to get the job done . I'm pretty sure they can manage that!
Todays set of RNS's were straightforward and encouraging. But remember that THIS IS AIM and investors here don't show their hand until the horse has well and truly left the starting gate. Then they rush to place their bets.
Time is short now if JW is to keep to his timelines. I believe he will.
We still haven't had news of the new Chairman and the further delay would seem to suggest that his identity is connected to Vitol or to the debt provider. Which gives me more confidence!

.42p, and they are on Nex.

I've got another 1.5M,(.5 +1M), waiting to appear. Unless they have pitched up on NEX, of course. Flirting with the notifacation again!

I thought your post was fairly balanced and thought provoking. Just one correction to make. The backstop date for the funding of H &W is 31 December not 31 October. I'm sure you've read Dawski's latest post since you made yours. Most of what he says makes good sense.

O&W, thanks for your 16.38 post . It contains one or two inaccuracies and a supposition. Why do you assume that I was averaging down when I bought today's 5M shares? That's the supposition. And an inaccuracy lies in the assertion that INFA has to pay the H&W instalment on 31 October. There is a backstop written in there until 31December. In relation to the so called Riverport finance my buy price today was so close that I judged that they are unlikely to take any more of the drawdown money as a conversion until the price shows a marked improvement.
I do appreciate your comments, though, and,as you can see from my posts today I'd be a lot happier if the INFA sp showed some more positive direction.

And I meant that, but when it got so close to the .4p I felt it represented a special bargain. Now I have to hope that your optimism is superior to my pessimism. Go well.

Do what I just did. I bought 5million, (3+2), @.4165.

Thank you Tango. Your attitude is admirable. But like you I woldn't like to see more of such borrowing.

Mt T, thank you foryour response. I understand about the debt / equity situation but the debt still has to come from somewhere, and given that it has been discussed for almost a year one would imagine that heads of proposals and a proposed time line,(among other things), would have been divulged by now. But nothing!. Infa has shareholders and presenting them with nothing except further expansion plans on the back of nothing is not good enough. THIS IS AIM. Yesterday is a long time ago on AIM. Never mind the passage of a year or two! What disturbed me more than any other event was the Riverfort deal. Most AiM companies I have seen who were obliged to accept such loan facilities subsequently went to the wall. Go well.

I still have far too much invested here for my liking and I have certainly arrived at a very questioning stage in relation to what is going on here.
The SP today is where it was about 18 months ago when PW was CEO and he was telling us that INFA was "in touch with potential financial providers for construction of the project, (ie IM ). JW has continued to repeat the same mantra for the past year. Nothing has happened.
INFA made a pigs ear of executing the Marine Licence and in real terms we have no idea whether we are really close to achieving that, or the selfsame finance , or equity provision, or anything else really important to the the project.
Instead a few million Mcap companyy has just put down a deposit,(raised at punitive rates), to buy a bankrupy shipbuilding and engineering company with the intention of taking on hundreds of new employees when it can hardly pay the handful it currently employs, and when it hasn't been able recruit a new chairman during the past seven months. And, by the way this same outfit is proposing to raise half a billion pounds in finance. It doesn't sound very credible, does it ?
Look JW tell us about the debt and equity provider(s). You've kept it all under your cap for long enough. Tell us about the real relationship with Vitol. Tell us why the last chairman went and why the broker was given notice. Lel's have some solid good news which will stimulate the SP rather than depress it.
My confidence in INFA is at an all time low. And that is really saying something!!

thanks but you misunderstood my reference to Vitol. I opined that Vitol could have "facilitated" the H&W finance. And so they could. Certainly the finance INFA took smacks of desperation. Go well.

I always like the directness and the positiveness of your INFA posts. This time I think you're wrong. Shall we have a friends bet that the EU funds wii be paid before 15 NOV. By the way , (on a serious note), I think Vitol would have facilitated the H&W funding for INFA if they had thought it was a good idea at this time, or if they intended to become their equity partner!! Now then!

....that's why the SP is where it is. The market is suffering something of a crisis of confidence in INFA. And I'm not surprised. A company talking about raising over £half a billion for two projects and it could hardlly raise the, (relatively speaking), pittance for the H&W deposit. It hasn't been able to appoint a Chairman in more than six months, and it let the Marine Licence slip big time. We haven't had a really positive RNS in six months. You all expect the market to big up the SP on the back of all that!!!Y
Look, the Eueopean finance will come soon. Do you all seriously think that the EU is going to withold 1.6m while they're expecting 39Billion from the UK? Get realistic my fellow investors.
I repeat what I said months ago and it still holds good . No company has any legally binding commitment to INFA and nobody will have one until such times as the BOD com out with positive good new which is sustained. It's been a long time since we saw any such thing. Hardly market encouraging!!