The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good to see exchange has happened but i suspect market will react when we have £2m in account. Logik already played games with us once so you never know. Buyer is supposed to be top tier investor so hopefully Logik got a non refundable deposit to help ensure Completion and solicitors will not release funds to Logik until Eqtec gets their cut. As i understand Logik will get around £15m so sadly while Eqtec did most of the work we are only getting a proportion of our original investment. I would hope we can kick Verde deal out as we have too many “strategic investors” offloading into news. At some point these bucketshop investors will be cleared and we can start the long climb back. Will certainly help financial results. Just need to churn through the sellers until we get back to those investing for the bigger picture.
Considering halfing my average. I have a lot of things craving funding personally at the moment though.
Are you piling in at this price then Try? No brainer innit.
Big reset underway. Not the perfect way to generate cash, but it will be utilised to its best in a company now well sorted to grow.
What about the increase in asset value, reputation & experience.
Never seen before technology working.
People will buy a system they can see working over one they can only imagine working.
You have to see the bigger picture
Looks the the end of the 1.80 downtrend bottom..imo
lets see
£2m in the bank will do very nicely.
OK, so the original EQTEC/Phoenix MOU for North Fork was signed September 2018,
If Italy was anything to go by "Commissioning" will take at least 18 months from when the start is muted, which will see us to December 2025
Also if italy is anything to go by it won't be profitable in the first year of "operation" (as MetalNRG have told us), so that will see us to December 2026
So hopefully the first $ of profit from North Fork operations will be seen by EQT December 2027 if we are lucky.
Now for the community in North Fork this may be attractive because its generating jobs and providing a means to protect against wildfires, but for EQT shareholders that isn't the most attractive of returns on already $4M written off.
That is pretty close to a decade from first signature before a cent from operations is recovered, and that we understand is why the "great pivot" was undertaken.
To quote Computer909's own phraseology:
That dumbo C909 liar through his teeth is coming out with yet more bull sh.t. Nobody can take this smirking idiot liar and the steaming pile of dung he writes seriously. If Donut C909 was a dog, he'd have been put down years ago.
Your words, not mine.
Just give the constant rudeness a rest C909. And try and get your facts straight before posting.
Perhaps it just seems like a decade !!
"North fork has been being commissioned for the last decade"
Really C909!?
The project only reached financial close in 2020 with construction commencing soon after, so not sure where you get the decade from? EQTEC signed the equipment supply contract twelve months before that....
A genuine oversight on your part I'm sure, as I know what a stickler for the truth you are.......
You're welcome!
North fork has been being commissioned for the last decade
New year….
April…,
May…
Next month or so…..
North fork operates on the vander linden planning scale of bull s hit!
2nd worst aim leadership after ukog?
NF being commissioned within next month or so according to Pheonix.
We will find out tomorrow if Deeside is sold and we get £1.7m or we will get £2m thereafter. Logik seemed confident the land sale would complete. i suspect not but Eqtec will need to update about this in the final results.
"completing on or before 30 April 2024, Logik will pay the Company a settlement sum of £1.7 million within the next business day following the date of completion.
If the sale of the Land completes between 1 May 2024 and 30 November 2024 Logik will pay the Company a settlement sum of £2 million within the next business day following the date of completion. If a sale of the Land does not complete by 1 December 2024, Logik will be liable to pay to the Company £2,000,000 not conditional upon any sale of the Land.
The Company has received confirmation from Logik that the Land is currently in the process of being sold and that the proposed purchaser is funded by a global investment company. Further, the Company has been informed that all elements of the transaction have now been agreed and the funder is seeking final sign-off and confirmation at its internal committee meeting in the coming days. Logik expects that the sale of the Land can complete shortly thereafter and possibly before 30 April 2024. The Company will make a further announcement as and when the intended completion date is confirmed by Logik.
W
I would like a communication from Dumbo Dave, just to say they have enough cash for the next 24 months, and won't be issuing more equity and above all wont be looking to take the company private in the next 5 years. (mind you i would like to win tonight's Euromillions too, and thats more likely than anything worthwhile from Palumbo and co)
The current uncertainty has the shareholders in limbo, looking at the shareprice and thinking that is a bargain, but thinking twice before investing or averaging down because no one trusts the BoD not to leg them over again!
'regular revenue from many more projects'
We all await this miracle , but i for one would like just a semblance of communication from David Palumbo,.. like where we are at, where we are heading, just small details like that, you know, good business practice and giving long suffereng shareholders (private investors) a chink of hope.
"Full year won't be great"
Question number one is, will the full year revenue be more than the sum of Smirking Palumbo's and Lies through his teeth Vander Lindens "remuneration", and if not how are they still in the job paying what they are being paid?
No need to hide. Full year won't be great, but really looking forward to any post period. This will show a step change in the revenue, a real leap up with regular revenue from many more projects. 2024 is going to be the most important year for showing how well the transformation is working. £1 EOY I reckon.
Full year results and post period update must surely come within the next few weeks, so we will find out the true nature of what has been happening at EQT.
Smirking Palumbo and the rest of the gang can’t hide their actions much longer,
Couldn’t run a bath … either 18 months or two and a half years (genuinely not sure which) when in an October/ November time they all did a presentation to camera saying everything was about to go. Things were apparently only a matter of weeks “obviously we can’t say too much” … blah blah blah.
They were clearly all talking sh** and they couldnt say too much because ghere wasnt anything to share or say.
previous dreadful ceo ian pe**** got sacked by altair and the chairman here when they manoeuvred palumbo in 5 years ago
palumbos record after 5 years as ceo is 1 project maybe up and running whether profitable who knows.
palumbo today has thrashed the shareprice 85% lower than ian price yet hes still here at the helm mismanageing like he does.
lucky dave's still here given all those better job offers that keep flooding in for him eh!
North Fork CDC have only included a bare minimum of info about the plant in their monthly meeting minutes since their (long deleted) minutes almost three years ago which EQTEC had to issue an RNS to clarify.
Most recent info and updates have come from Phoenix themselves on Linkedin,
Post from Loni Austin, Phoenix Energy's VP of Product five days ago....
".......With North Fork Community Power ⚡ 💡 commissioning in the next month or so, it will be great to realize some of the important work we have been doing at Phoenix Energy....."
https://www.linkedin.com/posts/phoenix-energy-1_coming-to-you-live-from-our-very-own-vp-of-activity-7188769750674563073-nCdl