Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Perhaps Woods have found the JV project much bigger then expected. ATB
DerSack thanks for your view on it and I agree using the word potential does leave it open to be read differently, my concerns are that the 5th Oct RNS promised more and I felt a more should have been said in the update. With Boris Johnson's announcement yesterday it has the potential to come back into play and further worked on by Woods.
Good results - 'very' is my opinion.
Good read - thank you aandi
Hi Rusty,
See complete results here:
https://mk0eqteccom4bnv60ivn.kinstacdn.com/wp-content/uploads/Eqtec-Annual-2020.pdf
Puzzled. Unless I'm missing something the notes to the financial statements in the annual report are incomplete. The annotations against the financials refer to note numbers going up into the high 20s but the actual notes shown only go up to 12. And notes 13 and 27 are supposed to detail the employee share based compensation.... as an example of interest. Has anyone else noticed this?
Maybe some of the Irish projects could surprise us, or information on the further 4 projects yet unannounced elsewhere in the UK.
Surely something will materialise before a JV is signed.. I just feel it would be nice to have a higher share price at the time a deal is signed as surely a higher market cap would command more power at the negotiating table.
If the buy/sell data on LSE is to be trusted, we have risen 5.75% on 3million shares. 3 million shares is 0.05% of the share capital.....
Rodrod, I think you're exactly right. We've had the goodwill and speculative investment. Now its time for the company to back it up with some results.
14.59
I am expecting that ETQ has a deal ready for sign off and announcement in the next week or two. DP will be fully aware of what the market needs following this very detailed report.
Such a deal will encourage investors to look forwards more and price ETQ at a higher level.
Wishfulk thinking here from a new holder but it is what a expect.
I think the second Greek project will be the next to reach financial close. They have been working on it for a while and the first one happened quite quickly.
Martinu, I agree we need concrete news now. I cannot see any news holding particularly well without proof that projects can be closed. We've seen DP close one, but I think the market needs more reassurance now.
TBH - still trying to make my mind up re today's release of 2020 results. On the plus side, SP is up and given bare facts of increased loss,it could have gone the other way. Croc makes good point re previous guidance and presumed knowledge of share based payments. Debt is down. Assets up (though I'm always a bit sceptical of non current /intangible assets). Looking forward, still huge potential. Just still would like to see some concrete news on project adcancement. Of which, nothing apparently new today.
Initial scan through looks very nice.
Reducing debt (a good move anticipating interest rates notching up to keep inflation in check)
Increased opportunity pipeline (we all knew, but nice)
Q3 2021 looks pivotal
Targeting 15M Euros - seven-fold growth in income, and transition to first profitable year.
Croq - I noticed the same detail. Wondered if the 4M had been in £sterling, but not got time now to check.
Will scour in more detail later (unless someone beats me to it here), but this looks like an excellent platform now for EQT to deliver exactly what we'd hoped for 2021/22.
Can sell at 2.08 but nt on IG
Norfolk,
That's how I read it too, but it just seemed a bit of a strange way of presenting it, and those share-based payment costs can't have come from nowhere (or just in the 4 weeks since the trading update), which means the actual reported loss could be interpreted as being up to 45% higher than guidance.
I may be reading too much into it, and the market seems to have reacted positively to the figures, so no biggie.
I am more than happy with the progress being made here
Net asset valve up. Revenue Up. Share price up. Pipeline Up. Court case thrown out. All costs are to grow the business, issuing shares to employees, growing the pipeline, reducing debt, equity stake in North Fork... This is great management IMO.
Also, losses are tax deductible!
https://www.proactiveinvestors.co.uk/companies/news/946898/eqtec-to-move-into-the-black-in-2021-946898.html
Administration costs up 1 million euros to 3.69m. This is pre financial close spending, forecast to be around 6m per year going forward. This money is recovered at financial close.
Share based compensation of 1.3m euros - We know new options (or warrants, I forget which) have a strike price of 2.2p so this is a massive incentive for employees to raise the share price.
Warrants outstanding reduced from 600m to 400m post year end so only 400m overhang left.
Croc, I had always read 'not lower than 4m' to mean the loss will be from €4,000,001 and more. Because a figure of €3,999,999 would be a lower loss than €4m.
https://mk0eqteccom4bnv60ivn.kinstacdn.com/wp-content/uploads/Eqtec-Annual-2020.pdf
Debts reduced from 2.7m to 1m euros.
Equity stake in NorthFork worth 2.2m.
How much did the lawyers cost?
The 2020 loss will be tax deductible so we should pay less tax on future profits.
Professional fees 2020 - 848,651 compared to 2019 - 424,292 (is this the lawyers fees?)
Regulatory expenses 2020 - 655,663 2019 - 296,967 (or is it this one??)
Not had a proper read through yet, but one small observation:
In the 22/03 Trading update, they note an end of year loss expected as 'not lower than 4m'.
Actual reported loss 5.8m. It says this includes 1.8m of share-based payment costs, but surely this would have been known just 4 weeks ago? Seems quite a big change compared to guidance.
As I said, just an observation, particularly due to the slightly odd way they put this in the trading update (not lower than). From a quick scan, there is a lot of positives to take, especially with the post-results highlights and the outlook statements.
gla
I see more good news on collaborations and deals in the new 2 weeks.
GLA
I agree DS, the fact it was mentioned is sign its still happening. Its a case study in how Covid is slowing work IMO. I suspect it will be underway as soon as foreign travel is more free.
Lots of figures in this RNS
it crosses over with updates for this year but I don’t feel it gives accumulated totals
It states where we were 2020, and spells out we have got off to a flyer but this RNS is historically looking at 2020.
There appears to be another story to tell which includes Cannaccord & Wood Group. Is this deliberately vague?
I don’t believe the cookie jar has been fully emptied.
More to come IMO
MysticMike, I read the one line on wood from another direction: If there were a problem with the review or its content, they wouldn't have mentioned it in the RNS. To me this shows that the process/content of the wood review should be ok so far.
Sorry the 246m was from june to feb
I'm disappointed by the one line update on the Woods review a good review would have pushed this sp up considerably faster. Will we ever hear from Eqtec or Woods the outcome of their review. My assumption from this RNS is that we will not see any review by Woods.