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If the storage works out ok ,
H&W is so under priced when the contracts roll in its worth millions .
What's difficult ?
In time H & W will be sold separately after the storage is up and running .
Expect the shares to go at least 20 to 1 soon
If / when the orders come in to H&W, which in my view they will, and using 2015 financial results and applying a realistic PE ratio then one can start to understand the potential market cap if just the one subsidiary kicks in.
Got till next Wednesday for possible news on the FSRU project.
JW's coments from the RNS.
"We are pleased to have extended the exclusivity on the FSRU project till 08 January 2020. This will give us the ability to take a comprehensive view on the project and determine next steps that we will take at the end of the exclusivity period. We are very encouraged by the level of international interest expressed for the FSRU Project, both on the construction and the offtake sides. Subject to technical and commercial feasibility, we believe that the FSRU Project will form an important part of the Company's portfolio of projects that it seeks to develop during the next 5 years and operate post-construction."
A project to much or a saftey net should IM go Pete Tong? Not sure, imo, H&W seems to have worked out okay. So far.
Meanwhile:-
The DAERA public consultation running up to 07 February. Not sure how long after for descision, though.
Another Non-Executive Director appointment in the early part of 2020. Resulting in a board of 2 EDs and 3 NEDs.
AGM planned for late January, last time for JW as interim Chairman. Clive Richardson takes over from 1 February.
This would certainly free up JW to focus on the wider strategy of the comany. See the last two below.
Outstanding EU grant of Euros 1.60 million is, we are told, well advabnced and funds will flow after following due process. Costain loan extended to 31 December 2020 or on receipt of the EU grant reclaim, whichever is the earlier.
Release of revised construction tender documents. Q1 2020
New strategic infrastructure project development funding options available. Company keeping higher equity portion.
H&W in receipt of various term sheets for an initial debt facility of £2m. Aim of having this in place in January 2020.
Heads of Terms agreed for project equity funding (or alternative funding) H1 2020.
Equity funding agreement executed (or alternative funding) H1 2020.
And finally, Esther, Final Investment Decision. H1 2020.
I say finally, as there were other, purported, projects alluded to being considered. Namely :-
Other UK mainland gas storage projects to complement the Islandmagee Gas Storage Project.
Existing operational and revenue generating gas storage facilities within the EU.
Going to be an exciting first half of the new year. IMO
Glad to be along for the ride with you good people. LTH's and new holders.
Cheers and HNY, Si. :)