Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Regarding the "Wording" lets look at the last two going concern statements
2021-2022
"As part of their going concern assessment, the Board of Directors have reviewed cash flow forecasts reviewed for the 12 months from the date these financial statements were signed and considered the medium term outlook through to 2025 as described in the Viability Statement. The Directors have a reasonable expectation that the Group will be able to continue in operation and meet its liabilities as they fall due over the period to December 2025 provided further funding can be raised as required."
2022-2023
"In making an assessment of going concern for the Group and Company, the Board of Directors have reviewed cash flow forecasts covering a period of 12 months from the date these financial statements were approved, and have concluded that it is appropriate to prepare the financial statements on a going concern basis."
This years statement is way more positive than last years regarding the "need" for funding.
"Ahh so there is absolutely no reason for the SP to be down 16% from an already undervalued position, lol."
Correct !
"Neither is it to be spent on working capital like wages etc,,,,,,"
You clearly have misunderstood the scope of the DFC grant and the tasks involved in completing the DFS from this point on.
The technical assistant grant is given to support BRES in the completion of the DFS and is released funding in 5 separate tranches based on achieving milestones, the DFC are not micromanaging or restricting what BRES are spending cash on, they are simply releasing in stages once the milestones are met, it's pretty standard grant based financing.
BRES could spend the money on hookers, drink and drugs if they liked, as long as they achieve the milestones agreed for the next tranche the cash would be released.
"My understanding is that the grant can be used however the company sees fit to 'deliver' the DFS?"
Absolutely the funding is released against defined milestones in the DFS delivery, it is not ring fenced for any specific activity.
" I am sure MR would have been shouting from the rooftops about it,"
We were told back as far as October 2022 - "Strategic Party" - "Potential to provide offtake contracts and project funding solution for Orom-Cross."
This was Chinese interest even before the DFC were in the picture
BRES has made no bones about the fact that they will need to raise funds to get OC into production, thats a given with theses micro miners, fundraising is in fact an inevitable part of this type of company's growth. The issue around fundraising for shareholders is a) who takes the issued equity & b) What discount if any the investor will require.
For BRES Mike has made it clear they have no intention/need to come back to the retail market for additional funding and will be looking at institutional/strategic partners which means the additional equity issued (if any) wouldn't be placed on the market. Regarding possible discount, remember the previous investments from investors for example RAB in April 2022 were at a premium relative to market price, and warrants issued were at 150% !
This isn't some failing AIM shambles scrambling around bucket shops to raise working capital on a death spiral, this is a premium world class project developing investment value and strategic value.
The price action this morning is simply a reflection of the crappy market at the moment, the MM are taking advantage of weaker retail investors that cant sit on their hands for 12 months without breaking out into a sweat!
Obviously all in my Opinion !
I asked the company specifically that question, the response being.
"the shares have been exercised - they have paid for them, they just CAN'T take them into their account yet due to the nature of the discussions which they are presently party to (they have already talked about offtake and strategics)."
Still that persistent 100K a day seller holding this back, surely they must be close to done by now?
No let’s keep a warehouse full instead of the cash we would get from selling it!
It’s flying off the shelves!
The winners of BBC One’s 2023 Traitors series has been announced, they have spent weeks lying and cheating and finally walked away with everyone else’s cash
Sounds like Palumbo and JV Liar!
You don't make a profit from storing vast quantities of Biochar, you make a profit by getting it out of the door, from JV Liars photos looks like EQT are currently doing more of the former rather than the latter !
The Directors exercised warrants in July 2023
Cameron Pearce £40,000
Sam Quinn £30,000
Mike Ralston £40,000
Alex Passmore £16,000
"I just don't get it anymore how this works."
"Keeping a small holding here just in case but have been moving more of mine into Blue Chips"
You basically answered your own questions, the small cap market has seen massive withdraws with the interest rates being high and the bond market flying. The S&P did 23% last year and the NASDAQ over 40% and even the FTSE did 7% whilst AIM has been shocking (and may never recover due to a fundamental lack of confidence now), and even main market small caps have taken a hit as investors rush for safer grounds.
But risk v reward is the game for making big money, patience is needed here as things start to line up and get ticked off.
If it's not good for your health then truly you have invested too much as any investment should never be a health risk.
Unfortunately BRES is coming to a peak when the equity markets are absolutely shocking, but the DFC funding is a differentiator here, you just need to keep the faith.
I hope so anyway !
“£2.9m @ 2.5%“
It’s “2.5% over the six-month Euro Interbank Offered Rate (Euribor), which at the time of announcement makes the interest rate c. 6.5%“
Let's hope that Mike isn't falling into the same trap as many of the micro cap companies CEO's, making promises using words such as "imminent" regarding deliverables they have little control of, In the current climate the market just punishes that type of action over and over again, better to be cautious and over achieve.
"Does anyone know how many shares still Altair has? Thank you."
Loads, and when they get a bit low Palumbo will gift them a few more million !
I notice proactive were all over "EQTEC surges as Italian bank approves loan drawdown", we don't see any "EQT Slumps as investors wake up to charlatan management bull"
"Certainly agree with a lot of commentary but are we worth more than £5m? "
We are worth what the market values us at, we such a corrupt management team paired with vulture lenders, there is very little investment case left with EQT, until one of two things happens very little worth can be attributed to the company from and investors point of view.
Either the management make a public statement that their priority is to use revenue generation to pay down debt, and that includes anything coming back from Logik
or
There is a clear out of the charlatan management and a new team come in who have an interest in shareholder value beyond Altair.
Until one of these happens the news stream will be greeted with a spike and then the inevitable retrace to these levels, it will struggle to gain any momentum weighed down by Palumbo's warrant gifts and massive equity backed debt.
50p is a pipe dream, Palumbo has given away so many warrants at 7.5p for this to go much higher than that i'm afraid. The z-listers he has gifted the company to have proven they are willing to sell at the slightest profit. so it would be an absolute miracle to see this above 10p for a decade.
Palumbo and his mates are just here to fleece the shareholders now.
The emperor “Palumbo’s “ not so new clothes have come off and every sees him for the charlatan he is, No short term support for the Shareprice now, this has become a traders share, people to make a bit of cash on news before the weight of the management’s incompetence drags it back down, there are months left before Altair/ Pitcole et al will have finished selling, by then Palumbo will have gifted more shareholder’s cash to his mates and the routine will start again.