Member Info for Computer909

The 2022 Amati UK Small companies fund report basically summed up the issue

https://www.amatiglobal.com/storage/872/TB-AMATI-INVESTMENT-FUNDS-ANNUAL-20220131-(002)-FINAL-WEBSITE.pdf

"Detractors to performance involved holdings from across a range of sectors, some of which reported disappointing results, but also others which suffered a valuation derating as the market moved away from long duration growth companies in favour of short cycle economic recovery beneficiaries."

The market don't want to see results in 2, 5 or 10 years time, they want to see company progress now

"Moving closer to home it has been a disappointing year for AIM investors with the Numis Alternative Markets index falling by 3.5%. This was materially below both the Numis Smaller Companies (plus AIM excluding Investment Companies) index which rose by 11.6%, and the Numis Large Cap index which rose by 19.5%."

AIM has been a **** show for the last 18 months

Well looks like today’s announcement hasn’t really hit the spot for the market

We don’t need to hear about securing more loans for more pipeline projects, we need to hear about a project coming out of the end of the pipeline and securing revenue.

Pipeline of pipelines is just more hot air from DP, when the pipeline doesn’t actually end at some point it starts to be a labyrinth that very few want to enter

Lets have an update on Deeside so we know what the true state of the pipeline is

From 31/01/2022 to 14/04/2022 Amati offloaded on average of about 1.6M shares per day (53 trading days),

Since 14/04/2022 we have had 43 trading days, so if they have been maintaining the same offload rate we should see a new TR-1 as they drop below the next reporting threshold in about 2 weeks time.

Holding @ 31/01/2022 - 515,683,266
Holding @14/04/2022 - 429,060,473

I guess if they are continuing to offload/trim at a similar rate we will be due for another TR-1 update in the next few weeks

@Aandi: My reading of the Amati fund managers presentation and the annual report, was that "We are not a micro-cap fund" and all 73 members of the fund were over £100M in mcap, so EQT no longer fits the model for their small cap fund, hence the exit.

Only my interpretation of the information and their decision to offload once we dropped below £100M

"No matter how good the tech is, continued delays lose credibility."

Totally agree, we are in danger of becoming the Betamax of gasification, not because of the technology but because of managerial decisions around financing, strategy and delivery.

The next 3 months could be absolutely brutal, Amati have at least 300M shares to still offload, Deesside update by 30th June, First Loan repayment due in August all on top of the current market sentiment.

I suppose nothing to do but hold and load !

"Eqtec are not directly responsible for a lot of the construction timetables"

You say that but over and over again we are forced to plough cash we can't really afford into the SPVs just to keep them alive, whether its because the partners are poor, the projects are poor or the wider economics are poor, the reality is we need to close out Deeside, North fork, Billingham and Southport before they drain us of more cash, we can not continue to spiral around the development cycle, sometimes you just have to close out a project for what you can get and move on.

Can we get some positive news from Deeside, leaving it this close to the end date, would look to be unlikely and we can expect another delay.

He's definitely proficient in spending the cash, with Amati looking like they want out at any price we really need for them to deliver something soon, I suppose we will know in less than 8 working days when we get an update on Deesside.

"June 2019 total equity and liabilities = €20m", "At the end of 2021 total equity and liabilities = €50m" : Total cash raised not far off the difference in the two figures

"up 2000% at one point" : Steering the ship or holding on for his life ?

*H1

Christmas party... Lets hope H2 has a little more to celebrate, as H2 has been a literal Sh itshow

Interestingly this week marks the 1000th day of DP being in charge of EQTEC

What are people's thoughts on his performance ?

On the day of his CEO appointment (16th September 2019) the share price stood at 0.154p, today we sit at 0.675p after a bit of a rollercoaster ride of late.

Since the start of his captainship EQT have raised (and spent over £32M), thats a spend of just under £1M a month, Has he made the most of that cash injection?

Has he been steering the ship or holding on for his life ?

Is he the best man for the job, is he adding or detracting from "Project EQTEC" ?

Don't think you have long to wait before knowing the short term trajectory, If we get positive news from Deeside by the end of June and we can make the first payment of the loan in August with cash I would hope for the SP to be back at around 1p by then. If however Deeside is delayed once again and we have to settle the first loan payment with shares, let alone have to draw down more, we could be looking at 0.5p.

You pay your money you takes your chance!

Well no arguing now that we are at an all time low, perhaps Mike will rattle up another interview so he can blame retail investors not knowing what they are doing again.

I'm sure that will make us all feel much better !

"Neither you or Computer909 though are apparently willing to make a prediction, even though you have a two day advantage over mine."

No one is able to predict the current market, all we do know is that in the two months from the tremendous JORC update to today the BRES share price has tanked by 32%, that despite Mike's assertions that everything is all moving along fantastically.

His continual attacks on retail investors for being the reason that shareprice is languishing at an all time low (and yes Hedgehog100 there was a day in may when the intraday price reached 3.5p) is just not a good optic for a company that should be moving in the opposite direction but instead in gaining little traction, When PIs hear BoD state they are looking for more II investment, the question normally is how much of a discount will they be offering, amazingly BRES has not had to offer a discount as yet to attract investment, but to date the amounts have realistically been chickenfeed compared to what we will need to get into production.

We wait to see if we can rebound to over 5p, but with flowcomm in charge of company communications i have to admit i fear we are looking at Q4 rather than Q3

I also worry that we are using cash we cant spare on Akelikongo, and question whether that wouldn't be better held in order to get Orom-Cross further down the road.

If they manage the release of the PFS in the same manner they did the JORC update god knows where we will be.

But I’m sure Mike will blame the retail investors what ever happens

"I would expect BRES's s.p. to continue moving back up during June in advance of the PFS results, in anticipation."

Well that didn't age well, as we bounce on the all time low ...

The Company is proposing to consolidate every 35 existing ordinary shares of £0.001 each ("Existing Ordinary Shares") into one new ordinary share of £0.0035 each ("New Ordinary Share"). Subject to the passing of the AGM resolution, the Consolidation will take effect at the close of business on the date of the AGM ("Record Date").

looks like someone has problems with decimal points ! (is it 35:1 or 3.5:1) ?

Again blaming the shareprice performance on retail investors "Trading" the stock for a small profit, not sure that can be demonstrated in either the traded volumes or the share price volatility.

Also a little concerned he is preparing us for the PFS to now be into july rather than end of june, lets hope that doesn't turn out to be shambles like the JORC update announcement.

You do have to give him credit for getting around these outlets and pushing the company.

"Graphite may emerge as a preferable EV mineral; 5 ASX players to watch

I look forward to when BRES is in this list, at the moment we are for some reason way under the radar, hopefully this will change with the release of the PFS and some engagement with potential off-take partners