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BRES have already funded a large proportion of their half of the DFS costs so they don’t need to raise anything like £5m to finish the study, also it looks like a proportion of that cost associated with extended site drilling may be settled in equity.

There isn’t a question of how the cash will be found for the DFS, it’s just a question of how BRES are currently managing getting the announced SI and the prospectus over the line that’s all

Https://eqtec.com/wp-content/uploads/Annual-Report-2023-PDF.pdf

I just want him to get on with it, we could have easily moved through the equity placing in the last 5 months , but the uncertainty is just hanging us out to dry, we can’t move forward until this is sorted one way or another, and while we are pinned at 5p the 100k daily seller has returned!!

Definitely if there was a change in the announced financing which required the prospectus they would need to issue an update, this limbo is definitely holding us at this level so Mike holding off for the SP to increase would be counter productive without telling the market

Unfortunately Mike and Co have really dropped the ball with the issues around the investment prospectus, we are pinned at 5p because we don’t know what the investors are intending to do with the 5p shares we are told they will get.

One way or another this needs sorting asap, either “poop or get off the pot”, we are into July when we were told it would be done on February.

Come on Mike sort it out for god’s sake !

Writing down £18m worth of assets is just another piece in the puzzle for Dumbo Palumbo and JV Liar to facilitate a cheap buy out,

I) Remove any financing dependent on the issue of equity to the market

ii) Reduce asset value on books so any “market valuation” calculation undertaken by the regulator would be rock bottom.

III) Ensure cash flow is held at rock bottom so viability of company can be questioned

IV) Minimise equity holding of management and z-list mates

Results: Frightened investors into accepting anything’s better than nothing offer:

Investors need to ensure the #Vote_Palumbo_out at the AGM, and restrict the issuance of equity permission they will request.

Only 4 days until the leash comes off Pitcole and Altair lock-in, that agreement looks more and more like a Dumbo attempt to allow the Riverport to get out and GIS/INSP to screw £500k from the EQT shareholders,

We will have our solution pretty soon, Palumbo must be up for reelection by rotation at this year’s AGM.

#Vote_Palumbo_Out

Since the 13th May when Riverfort received their 12.8M shares @1.562p there were only two days when the price was above theri take price, those two days was when Palumbo announced the "refinancing" and made a big point in two interviews of pointing out it was the share overhang that was depressing the share price. So unless they took a loss on the £200K (for some reason we have yet to discover) then the refinancing was used as a pump to allow Riverfort to exit their position.

Unsurprisingly the SP quickly returned to way below the Riverport price with Dumbo's INSP friday night raid on shareholders

Palumbo will do anything for his mates !!

@simms45 the market cap is linked to what investors want to pay, unfortunately shareholders don’t easily forgive a management pair that have diluted them to oblivion whilst destroying the mcap and delivering nothing for all but a very select group of “friends”

For any sentiment to return Dumbo must be sacked and the sooner the better, while he still sits at the head of the table investors are always asking how is he likely to screw us over !

JV Liars latest fabrication on LinkedIn says later this week for Annual reports, so as usual EQT will leave it to the very last minute, probably send it out during the next Friday night knees up with the z-listers.

Riverfort have offloaded so have probably given Dumbo the ok to release the expected terrible results.

JV liars response to comments regarding post period updates sounds like there won’t be much news on that front either.

This duo are just liabilities that need to be given the boot as soon as possible

if logik turn out to be like the rest of dumbo palumbo’s mates the cash won’t arrive anytime soon, palumbo will get a brown envelope of cash in exchange for writing down the investment in the same way they wrote down millions on billingham and north fork.

they are cowering in their plush office too scared to release the full year report as every one of their lies will be laid bare for all to see.

jv liar keeps posting *******s on linkedin and x with regards to italy, but still hasn’t posted what we need to hear, that is it’s running constantly, instead we hear over and over again they are polishing their knobs !!!

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 !

@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!

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 !

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

All source funding DFS cost has been stated by the the DFC as $11M

https://www.dfc.gov/sites/default/files/media/documents/9000116316.pdf

My understanding from the company is that they are looking at incorporating an additional strategic investor alongside the African investment fund which is one reason the publication of the prospectus has been delayed, I don’t think they have any problems raising any amount of cash they need, and as long as they aren’t having to offer large discounts I’m comfortable with more sticky hand strategic investment getting on board for the long term.

I think most of us have been burnt along the way with untrustworthy directors of small cap companies (particularly on AIM), BRES being on the main list obviously has to jump through a few more hoops with the regulator and the DFC involvement would surely add another complication. I am a little disappointed that Mike and Co haven't got this over the line by now, but at the moment based on their track record i'm willing to give them the benefit of the doubt.

In the world we live in at present nothing is simple and nothing happens quickly, If Mike hadn't put a self imposed expectation timeline on the prospectus none of us would be concerned with a delay as we are still getting good news updates coming from the company.