Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video 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.
Simple, the truth is he doesn't and he's buying in big amounts. It's the only logical explanation.
If you hate him that much Compo why not man up and make your feelings known on Linkedin - rather than hiding here
Dont we also also hold a 10% stake in mnrg of something? That is taking off today and now has higher market cap than Eqtec. Next week could be big news on Logik and maybe something else as there is a lot on the go and not just DP collecting his wage packet lol :)
more utter *******s, when will this pos start paying it's way, instead of fleecing loyal shareholders ?
Https://www.linkedin.com/posts/jeffrey-vander-linden_environment-patented-proprietary-activity-7209847260640120832-rgxJ?utm_source=share&utm_medium=member_ios
This week, our EQTEC Italia MDC in Italy's beautiful Val d'Orcia was visited by shareholders trying to find where the EQT directors have buried £55m of their cash, all they found was two washers and a polished turd !
And historically i have made some good investments following on from a forced major shareholder selling. If you remember Wood group there were dozens of AIM stocks that tanked 90% because his forced investments into an illiquid market killed the shareprice. The companies affected had totally unhinged market caps. I see that with Eqtec. We know recent major shareholders have been dumping into an illiquid market and pis rightly waiting it out and who is to say we do not drop further if recent placing is dumped but given they cant want to lose too much on their investment and do not have warrants i am less than sure. As soon as Logik settles this will take off. As to Idex we sold the land to them for 0 because the £15m contract was binding so that is happening. Otherwise i am sure Idex would have had to pay a few million. We also do not know what will happen after 30th June when tie in ends but it could also be a point investors decide to move in. eqtec has 10x before and it can easily do it again, if just to get back to net asset value, which i would argue will balloon once northfork goes live and we come out of chapter11. Just saying there is risk but for very little averaging down at this point investors could recover their losses if we rise back to £10-£30m in short-term.
While i agree on DP but he is not alone and the worst crisis is behind the company. i am looking with a fresh perspective and staring at the £3m market cap. I just hope Yoel and David Le Saint and his employees are watching as they have had their shareholdings and options decimated and im surprised they stomached the friday night shenanigans. When you read the final results from 2023 you get a big sense of just how much value is in the company and the build up of knowledge. Some people back in the day were investing £50k in Eqtec. If they did that today they would secure 2% of the company. The AGM shareholders can hold DP to account on this recent placing and INSP engine connected order and question him on all manner of topics pertinent to helping shareholders get a sense of where next. I am mystified that a fair amount of the £850k placing is looking for a new home so pis could pickup a decent chunk of the company and have some say in the future. Plenty of risk but company has a lot of tentacles in many projects and revenue steadily rising. I sense a big turnaround once Logik settlement appears and £3m will not be its future market cap for long. Verde only last month was investing at 4p but pulled out as shareprice collapsed.
@Simms45 there is no recovery with Palumbo in charge, there is zero shareholder trust in him and his contempt for shareholders has been demonstrated over and over again.
They company is worth what investors want to pay for it, with Palumbo in charge and his track record it is obvious that the market still gives no value to anything the company does because there is always the “Palumbo factor” in play with the expectation of getting shafted!
“They're flat out signing deals and taking cash”
If they truly are, that makes the shareholder betrayal of the last Friday night drunken raise even more contemptuous!
Recent placing with no warrants was at 1.4p. its now possible to get it at 15% discount to that today as presumably some of that placing is finding its way into the market. with £850k received from placing, new secured credit replacing the venture debt guys and £2m settlement from Logik due any day, regardless of all the stakes we have in Italy and signed deals with Idex, Hawaii, Greece, Croatia etc etc we are worth £3m. something is not quite right. PIs are still the largest shareholder and we just need to reign in DP and get our cost base down. There is no reason we are not worth £30m today but for the lack of confidence in DP who has historically destroyed shareholder confidence. Can he turn that around over the coming months.
"They're flat out signing deals and taking cash"
Yep that's why 3 weeks ago they magiced up another pre consolidation 6bn
load of confetti to get dumped for a misily £800k to keep the lights on .
Surprisingly none of these BOD chappies follow through with their warm words yesterday by buying eh !
We know how drunk Palumbo gets on a friday, and what type of fantastic deal he and his cronies come up with in those boozy sessions. I wouldn't be surprised to see the next raise on monday issuing confetti to cover the friday night bar bill !
Don't know what you are talking about. I was talking to the BoD yesterday. They're flat out signing deals and taking cash. First IDEX deal is imminent, and there is several, Croatia is reopening, Greece, NF and Italy all coming to life.
Another fantastic week for Palumbo and the BOD pocketing €6k each and their loanshark" strategic investors " buddies .
One year now since the last AGM with smirking Dave gone all bunker ,
Down over 93% thanks to Palumbos dilution with his mismanagement , profligacy with shareholders funds never ending commissioning and maintenance issues in the only one outta the much trumpeted "Pipeline 200"
Not 1 project up and running continuously after 5 years off Palumbo in this lifestyle POS.
I think before showing their face they want to see the Logik settlement in the bank but if the company was worth £100m i am sure we might accept their salaries but when the whole company is worth just under £3m it is hard to stomach the managements mismanagement being rewarded. We now have over £90m of accumulated losses on the books. This alone is worth £16m in corporation tax offsetting to someone. All i am saying is we are not worth £3m. The breakup value is £20m+ after you sell off the Eqtec shell and sell off all stakes in projects. This is the bottom line and the valuation today is simply a result of the wrong investors offloading their shares for any reason, not connected to the value of the company.
Dumbo Palumbo’s self interest has made this company the leper of AIM and that is saying something.
Logik payment doesn’t look to be arriving with any urgency, and the idiot has committed £95k we don’t have to his mate at INSP,
Please don’t believe vander liar with regards to “regular monthly income” he has been saying that for nearly 2 years now and nothing has appeared in any official updates.
Palumbo is positioned for a management takeover as soon as they can secure ongoing funding as his contempt for shareholders is clearer and clearer every day. The recent refinancing away from a convertible loan wasn’t to protect shareholders it was because the lenders see no value in taking millions of shares in exchange for a packet of crisp, a management buyout would be unachievable if the convertible loans were still active.
We all await the full year accounts not to see the in period figures but rather any post period updates, and we will see just how much of their bull they will put in writing.
With regards to Italy MDC, “market development centre” is an absolute joke, they took double the original expected commission time and then had to admit it struggles to run for any period of time, today we again hear it’s under maintenance!
North Fork is a mystery, every bit of news that comes from Phoenix is conspicuous by its lack of mentioning anything regarding EQT even though we are led to believe we still own 25% of the project.
French IDEX project was supposed to be active in Q1 2024 delayed from 2023 but we still haven’t heard any news on these orders whatsoever, the obvious question is why would IDEX offer up €15m worth of supply contract to a company now worth less than £2.5m, has little cash in the bank, is burning cash monthly, and now has a track record of non-delivery.
We are still paying 20+ premium salaries for them to be sat around stroking Palumbo’s ego, meanwhile Palumbo’s z-list vulture mates are circling the rotting carcass he has turned the company into.
Palumbo’s and Vander Liars combined salaries amounted to double the company’s six monthly revenue which shows just how far out of touch Pearson’s remuneration committee are, and what on earth does that idiot do for £71k per year?
Only one thing will start any recovery and position for any shareholder recovery and that is the removal of Palumbo and Vander Linden.
They are obviously delaying the accounts as late as they can and the AGM when they will have to show their smirking faces to answer to shareholders.
You know what needs doing #Vote_Palumbo_Out
Paying down debts as we generate income is the way i want Eqtec to operate for a period of time. For too long DP ran up debts and then of course could not pay back so he was forced into a corner to pay huge fees and give away warrants and cheap shares. Ultimately lenders converted some of the debt and dumped large numbers of shares on the market. The new arrangement of debt ensuring as money comes in we pay down debt fixes that never ending problem we suffered from before. I would like to see Eqtec also buy back shares as if we can place then for 1.4p and then but then back for less then that is smart. We are achieving gross margins of up to 30% so this is promising on around 200k-250k euros a month service turnover so we must be close to breakeven. The kicker will be the 15m euros equipment sale in 2nd half of 2024 where margins are 15-20% so we should see a profit i suspect just from the 2-3m margin on the equipment in our next accounts. This is really just the start. However there does seem to be the overhang but when all those shares are gone we will move quickly.
Now 0.012 pre -consolidation 'old money', we never stood a chance.
It's uninvestable for the time being with so many shares to wash through. Potentially later in the summer that position may change.
We also need to see the published Annual Report to get a better view on current cash, debt and ongoing losses from operations. We know the run rate was losing c500k per Qtr in Q1 so how many more Qtrs will it take before they b/e. Also 500k of the logik cash goes straight out the door to Riverfort so that 2m will not last long when funding operational losses.
I do think there will be a time here when can make a few quid on sentiment change but for me we are not at that point yet. Entry point/average down here and can be down 30% in a blink of an eye.
Sounds like cloud cuckoo land, or Boris 'sunny uplands' ....
Posted by Phoenix Energy 2 days ago.
“ Beautiful day today up at North Fork Community Power . Everyone is hard at work . The sky is blue, spirits are high. SO. CLOSE.”
We just need to clear the venture debt death spiral as £3m market cap from £250m just 3 years ago is a little bit of an overshoot when you consider that we have several projects operating, in development and contracted going forward. Idex is the biggie as they have many more projects that will spinout from this and Northfork was the first of 16 projects in California. There is half a dozen projects in differing states in Europe and Italy, as far as we know is operating well given a bank refinanced the project onto long term secured debt. Eqtec have always said they have a huge pipeline and i do not doubt it. The big question is why DP has over the years only completed placings with parties who have immediately sold? The first thing a CEO looks for is long-term investors to enable a company to grow its market cap overtime naturally and not lead us to a valuation that is about the same as semi in London and where we have at least £30m in net assets, considerably more once Northfork is on stream and our shareholding returned. at the sae time pis have a potentially once in a lifetime opportunity to probably hoover up 5-10% of the company that might one day be with 100x from todays valuation. I do not see £300m being even a high valuation for Eqtec once we move into profitability. I am just wondering if the next RNS will be DP and JVL filling their boots with freebie shares or will we get Idex update and £2m settlement from Logik, almost as much as our current market cap. I am not sure i have ever come across a more undervalued company when it appears apart from the DP discount that the company is not about to be in rude good health!
These clowns will have to do another consolidation at this rate.
£2m sterling is due anyday from Logik settlement. We probably have to munch through some of the £850k placing and not sure how much of it will be offloaded. Why DP did that is probably one of the most poorly considered placings i can imagine, especially if the buyer is not planning to stay for long haul. I think he peaked finding a buyer for some shares who sold in 2 weeks. Anyway its almost free money if Logik cash comes in and Northfork goes live in a month as apparently its in final testing. Hopefully Northfork will then come out of chapter 11 and we can put $10m back into our net assets that got written down to 0. Just hope the CFO can keep a short lead on DP.
What a POS