Member Info for Computer909

Kodal’s funding announcement this morning shows that the money is out there (from China) for large mining projects (in that case lithium) we just need BRES to pull that type of agreement out of the hat and it’s “party time”!

And I also think DP will hold off on and MDC commercial operation announcement until Altair have sorted their position.

He/they wouldn’t want any volatility to disrupt the plan

Most on AIM are fast and loose with this rule, look at Amati it was months of selling before they made any sort of official declaration,

Has to be Altair / DP’s scheme to give EQT needed cash, give Altair 8% and 666M warrants whilst not increasing its percentage holding,

Ignoring the warrants if we are seeing a managed cash injection and a holding level maintained, in current market conditions an 8% dilution wouldn’t be a bad result.

The issue for me is how Altair and DP have presented it, and the amount of cash we seem to still be burning, that is driving the constant round of loans

70M+ bulk sales again today?

Has to be Altair/DP moving shares to cover the loan, Altair are realistically the only holder with enough shares to cover this continued movement?

In just the last 11 trading days this "seller" has shifted over £530K worth of shares and still managed to pin the price at the current levels.

"The brief to management is to grow the company and build long term value, not featherbed investors."

Which is fine until the investors become the biggest source of revenue, and "growing the company" results in a valuation less than the shareholders have invested in the last 30 months !

The stated intention is to raise the necessary funds by a project based agreement, i.e a partner would take a proportion of the Orom-Cross project rather than a share of BRES Corporate. If you ask the company this is their working assumption and they are currently talking to a number of potential partners. We will need to watch this space though.

‘DP IS STILL IN PLACE BECAUSE OF HIS VISION‘

Lol… DP is still in place because of Altair/Origen, absolutely nothing to do with his “vision”

"So C909, you reckon you bought at 0.17p? And you didn't sell at 3p+?"

No one got 3p+ in january 2021 I did get 2.649p though so pretty close !

That rise wasn't because of anything DP did, it was purely positive green market sentiment which has evaporated due to delays and deferrals

90% lower than when the senior management salaries were compared to ‘similar sized’ companies!

If we are comparing entry points, I first bout EQT in Jan 2020 @0.17p

The issue is that DP has spent his time talking the talk and not walking the walk, ‘it’s AIM’ therefore we have to accept incompetence and self interest just doesn’t cut it !

‘DP isn’t incompetent whatsoever.’

The guy is an idiot, he spent two years writing cheques the company couldn’t cover and over exposing the finances of the company, it’s taken the last 8 months to roll that over extension back, his flippant attitude to issuing more shares whilst delivering very little of the promised revenue has brought shareholder sentiment to an all time low.

If it wasn’t for Altair he’d have been given his P45 way before now, the company is valued 90% lower than it was, very few senior management would survive that level of performance!

Looks more and more like the seller is Altair looking to recover the £2M loan amount whilst not exposing themselves to DPs ongoing incompetence,

They have offloaded £135K in the last six trading days, The good thing is they seem to be managing the sale as to not crash the value of their remaining investment, Bad thing is if it is what I fear we could be in for being trapped at this level of another 2 months.

‘I thought we were shipping bulk ore to a potential off taker in order that they can test both’

We are looking to ship the bulk 100 tonne ore sample to a Chinese processor who will validate the results of previous tests at this much larger scale, and will enable us to supply much larger samples to potential off-take partners.

Shipping the raw material at this scale to be processed in china means we don’t have to spend millions of dollars upfront on a test plant.

The Ugandan government (like many African governments) restricts the export of raw material so we need them to issue a license to do so, if they don’t we will need to do the processing in-country (at cost).

Mike eluded that the licence was expected before the end of the year, i for one was hoping we would have had that good news for the market by now

‘If these were offloads, the price would crater”

Not necessarily, if Altair have an exit price at or around the current Level, and are happy to offload at this level but hold if the sp drops below then it will just absorb the churn, reducing their holding whilst not cratering the SP.

In that way they churn the £2M loan amount over a period , not cratering, but anchoring the price at this level until they are done.

That’s what I think is going on, Altair have enough of a holding that they can manage this offload, take the 2.5% arrangement fee, and the 8% interest whilst not increasing their exposure to DP’s mis-management.

It’s just a way of DP and Altair to manage the CLN but not increase Altairs holding. I think we will be pinned here until they have churned £2M worth.

Another 6M end of day offload today, this has to be one of the larger holders reducing their exposure to DP,

Probably Altair reducing their exposure back to pre-loan amount, if that is happening it’s basically a placing via smoke and mirrors, and DP giving his mates at Altair a back handler to boot!

"Can someone point DP towards the application forms?"

DP has labeled himself as CEO "Commercial and Investment" in the latest EQT brochure, so we would hope he is no top of this type of funding, although in reality the goto financing mechanism for DP always seems to be the share printing press !

‘The facts are the price is affected by the wider market.‘

The fact in reality is that DP has spent two years plus pushing complete boll ocks when it comes to timescales, progress and revenue projections, so the market now has zero confidence in anything that comes from the company with regards any progress update. It’s the classic boy who called wolf scenario.

The latest ‘ it’s beginning to look a lot like Christmas” being the latest in a cringe worthy series of market updates pushed out via twitter, posted just days before they release a RNS saying the MDC is commissioned, but not really !

It’s clear with another 7.5M block sale today that one of the big holders is offloading , amazed really the SP has held this level.

The frustrating thing with EQT is there is so much potential for the company but the management team honestly don’t look as though they are up to the job, but are sat on very large salaries so won’t admit that.

‘However, another round of fund raising cannot be ruled out….”

If the idiot DP has the audacity to raise more cash through issuing more confetti at this level would basically be the final nail in the coffin for investors, as the reality is that no one believes a word the company says now when the attempt to justify the need for more cash .

Realistically with the steps they have taken in the last 6 months there shouldn’t be a need for any additional cash anytime soon, unless there is another DP screw up we aren’t aware of.

If there is a sudden need for cash for what ever reason DP will need to go, as what on earth is he bringing to the party apart from one screw up after another.

Unfortunately it looks like we have entered another -5% a day cycle, how long that last will be driven by how much the seller has to offload.

Does not look like the market has much confidence in DP's delivery at the moment though, and who can blame it? The guy is absolutely useless, £30K + a month remuneration for what exactly, for printing shares, borrowing cash and delivering nothing but failure and delays.

DP was supposed to be the financing guru, we don't see much evidence of that, so if he isn't bringing that "skill" exactly what is he adding ?

we have yet to find that big brother...

The Wood "partnership" was meant to be transformative, but instead they have done nothing but buy the coffees at COP