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InfraStrata
- BY: Andrew Hore |
- POSTED: 09/05/2011 |
Gas storage projects developer InfraStrata still believes that it will gain planning permission for its Islandmagee storage project during 2011 but it might be later than originally expected.
Last year, InfraStrata was expecting planning permission in the first half of 2011 but it looks likely to be much later in the year. InfraStrata is still trying to secure a partner to finance the development of the project.
At14p a share, down 3.75p, InfraStrata is valued at £11m.
InfraStrata reported an increased loss of £526,000 in the six months to January 2011. There was £564,000 in the bank at the end of January 2011 and a further £901,000 was raised at 22p a share in February. That gives InfraStrata enough cash for its medium-term needs.
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