Thoughts12 Aug 2020 22:13
People are slightly nervous about the Aries case (understandable), so without confirmation of financial close on Greece, Billingham (or anything really!), I can't see the SP moving up any more.
DP said Greece would financially close in June and the company has an unfortunate record of not closing out on MOU's and JV's. If he can close Greece before the end of August (or provide a good reason why he hasn't) then I'll hold my 10 million shares and I think we'll see a move up towards 1p. If that time passes and nothing has been closed I'll sell half my stake in anticipation of Billingham being financially closed by the 22nd Sept MOU extension deadline. If the MOU is extended again without a very good reason I'll likely sell my entire stake and I think at that point the SP would drift back down towards 0.4 or even 0.3.
If Greece and Billingham are financially closed it will create a snowball effect and EQTEC will be able to fund the likes of Deeside, the Ireland projects, the Balkans and likely many more, which will see the SP head to 2p and above. At this point the court case becomes pretty immaterial because win or lose they have the funds to pay the lawyers and they have a big foothold in Europe where they will make most of their revenue anyway.
The fund raise was necessary -albeit annoying, but DP said himself the money is to speed up the closing out of near term projects. If he cannot do this now he will never be able to do it.
As for the easy-Stelios speculation, it's just that - speculation. Maybe, maybe not. If it happens - awesome! If it doesn't, DP needs to deliver on the above and more without the financial muscle an investment like that would bring.
Talk of 5p plus by the end of the year is fanciful unless DP closes multiple big contracts (and/or a large waste EPC or waste infrastructure owner/operator comes in and takes a strategic interest in the compan.)
My average is 0.54, so fingers crossed from here that DP can deliver.
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