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No, they said that cash receipts may be withheld bringing forward the date of insolvency.
The RNS just confirmed they sold over 9M yesterday.
No, this is the breakdown: 7.1M total till the 12th Feb
1.5M went to pay back creditors they owed. Circa 4M went to working capital as stated in the fundraising RNS and circa 0.5M to capex. They subsequently sold the Sunderland production plant for £0.6M. 10 days after that they said they had to make plans for administration if they could not sell the company (fundraising at this level would be impossible given the Mcap). So £7.7M gone in total since December 2023.
Actually 7.1M, 1.1M is easily missed ;)
*The (stupid predictive text kept altering!)
He post Christmas rise was universal in clean tech stocks so wouldn’t look into that too much; revenue figures and new partnerships will be the drivers unless there’s another universal clean tech rally which is possible given how stagnant H2 21 has been.
Deeside - On my count, 12 approved, 3 abstained and 1 was against (the person representing the chap who thinks Eqtec's plant is an incinerator; so discounting that ignorant person, there would've been no-one against it. Very good explanation by Gary, the member of the council who was in charge of this application as he highlighted the fact that 4000 fewer trucks would be on the roads as a result of this scheme and that this was an advanced, cleaner energy from waste technology, distinct from incineration that would produce negligible emissions. It was interesting listening to it as many of the councillors tried to sow a seed of doubt about emissions and transport but all the concerns were dealt with by Gary.
I will be listening in on the Deeside decision; the only complaint is by one person who erroneously conflates incineration with gasification...given that all the information was provided to the councillors in advance, it is most likely a deliberate act; I can't see it having any bearing on proceedings. Their gasification plant will be sited in an industrial area located adjacent to an incineration plant that is larger than the one Eqtec are proposing.
That would mean a leak of information; more likely is a seller pushed the price down and once they finished buyers came in and pushed it back off the low. We’ll see if there is a further bounce tomorrow.
Antelope - how did you calculate 250mcap? Just with the financial completion of the existing contracts I envisage 300mcap would be fair value; if we take two projects off the 13 touted as extremely likely then we should expect news of 11 more projects this year; I would forecast a conservative increase to at least 600mcap a year from now dependant on projects agreed but assuming a small percentage of them financially closed. The size, timing, planning and financial agreement of these projects will impact these figures of course.