Member Info for Crocqman

Ah, ok.

I must have missed the IPO announcement for the listing as well as the mid-October date.

Will have to look a proper back through RNS and interviews here

Tks

Rd,

The ASX listing was anticipated to occur by the end of Q3, per the 24/02 RNS, although it did also state that there was no guarantee that the application is to be accepted. Not sure if there has been an update on progress since this RNS?

You post that they are about to raise. How do you know this?

As far as I know, the listing on a new exchange does not mean that new shares are generated (from a raise), merely that existing shareholders based in Australia can move their UK (or U.S.) listed shares over to the local exchange should they wish (more convenient), and also to allow local funds/II's to invest via ASX who cannot invest invest currently due to country restrictions.

I believe the number of shares in issue will not change (or funds coming in to CTL), just the number of exchanges available to investors, hence a potential increase in liquidity as it opens more doors for potential investors currently not able to invest.

There was no raise or issue of new shares when the shares listed on OTCQB, or on the German exchanges.

Just trying to understand if you are saying that there WILL be a raise in order to issue new shares on the ASX exchange when approval is given for the listing (I believe this is not the case), or if you are saying that you anticipate a raise at the time of the ASX listing commencing in order to tap that market further (in which case, any raise would like be open to all investors, dependent on Country restrictions related to the event).

Tks

Great post Jez. It is exactly this.

It is pretty similar across pretty much ALL of the small cap space currently, it is not exclusive to QBT, and has been like this since covid/Ukraine (with few exceptions).

I can't understand why some cannot see this. Investor's attitude to risk has changed and money is staying in safer havens, dividend stocks, etc until they see the tide is turning. Many have been caught out though and are suffering big paper losses which hurts - this is why there is a lot of negative posting across a lot of boards.

It is not just QBT, yet the posters here seem to think QBT is a standalone.

The relentless daily posts from the same handful of posters saying the same thing all day every day is a turn-off for investors too. It is desperate stuff from both sides trying to counter the other and is boring to read, hence why many do not venture here much anymore.

Volumes are not really at levels needed unless there is news and many shares go months without decent days' volume - the only time QBT has exceeded volume greater than 2% of shares in issue in the past 3 months was exactly 3 months ago. Volume is needed to stimulate SP movement. Good news and it will go up as investors see delivery, no news and the SP will inevitably drift, as we see here, and elsewhere.

The SP movement here currently is nothing to do with troll accounts, it is nothing to do with posters looking for a cheaper buy-in, it is nothing to do with MM games, and it is nothing to do with weak sellers being targeted, these are just excuses. It is everything to do with investors wanting actual delivery, returns on their investment to justify their investment, and QBT, like many others are not currently delivering anything tangible. Hence, many investors with cash to invest will look elsewhere, and others feel they should just sit and wait for something to change their mind to jump in or out.

imo

With that, I am off back to watching and waiting

Good to see some balance from several posters in the comments so far today, despite the doom and gloom presented to investors for some time.

Yes, the results are not good. That was expected.

Some vocal posters wanted action re: bod and renumeration and we see action on that front (buy FJ still not happy, as expected).

Some glimmers of hope to be seen with regard to the strategy switch, but as it has been for 2022 and 2023, where they have failed shareholders miserably, 2024 is now seen as the new dawn when we can expect delivery.

Looks like we are not to expect much more from EQT in this calendar year with news on North Fork and Italy still subject to ongoing concerns re: funding and performance.

The bod do not deserve a free pass any more for their actions, but it does look as if they recognise the situation they have put the company in (or large shareholders have made the position clear), and are taking steps to make the changes needed.

Will the shareholders and the market get behind them? A case of wait and see. I was going to review my position at year end hoping for North Fork news, amongst others. Still a watching brief for me and a decision to be made

gla

I presume that they will not release the interims until the last minute seeing as they will likely not be pleasant reading, so 7am on Friday? Last year they announced the results day, presentation and Q&A the day before and released results on a Thursday. Will they allow shareholders to dial in, submit Q's and cherry pick the ones to respond to, answer the tough ones to be transparent, or have a closed presentation?

FoxyJoe,

Seeing as you mention it a lot (Director buys), whilst I too am not happy at the level of direct investment (i.e. open market buys, not awarded shares) by the bod, which some Institutional Investors and small cap Fund Managers will look at as a pre-requisite for investment, we are actually in a closed period for 30 days before the release of FY and HY results, so the bod will not have been able to purchase this month even if they had the desire to do so.

It is an important consideration though, especially when the performance/delivery is clear to see over the past 2 years, or so vs the company projections.

The small rise so far today is likely more to do with the markets in general than anything , especially given the volume traded.

gla

Not too surprised at the muted response by the market to today's news.

In the current economic climate, it seems to take something special to move any SP up, while a drop seems to be standard on any down day generally.

If this closes flat will not be too disappointed.

About to head into Q4 - commissioning expected to be finalised on the pilot plant. This was notified in the latest update from 3 weeks ago, so it will be a good test for the company to achieve this before year end. Given some of my other poor performing small caps, I will be judging a company on delivery and adherence to time lines. Small misses ok, but constant delays will be a signal for me to reduce/exit from now on, regardless of long term potential.

Also, Operating contract news, maybe towards the end of Q4, but likely in Q1 next year.

Plenty here to keep an investor interested in both the short and longer term and hopefully comms and bod actions will continue to move the company forward.

Liking that this board is still relatively quiet

gla

Good to see some good news here, we could certainly do with some.

This award was kind of expected given the feasibility study, but other than funding for the study, I do not recall any other figures being given, so this will hopefully give the SP a bit of a boost after a few horrendous days.

These are the types of projects that EQT should be focusing on now, Countries where there is support and the will to move forward. Smaller scale, perhaps, but they all add up.

When the interims are released, we will hopefully get an update on progress with other projects, and I expect the bod to climb out of their bunker, take their tin hats off and speak to their shareholders. They need to own the disaster seen to date and tell the shareholders straight what the next moves are. No more BS.

Delivery, cashflow, communication and hitting forecasts/deadlines

gla

It would not be ANGS without a delay to anticipated, and bod notified timelines.

'Late summer' originally announced for the permanent line is now early October. Saying this at the end of September must be a confident call from them, but 'early October' is still vague enough, even as we approach October, to be open to interpretation.

I will go with the rational and logical interpretation that 'early October' comes before mid-October, so will give ANGS a deadline of Monday 16th October to confirm the permanent connection has been fully commissioned.

If they fail to meet this 3 week timescale, I will be looking to take my losses at the first available opportunity as I am not even seeing winter gas prices having that much of an affect here as things stand.

The 52 week high (2.2) was exactly a year ago. The SP has been on the slide ever since, aside from the odd peak on news. It has been a very poor return for investors over the past year, especially when it was a realistic expectation to see a decent rise from the successful side track, but delays and cost over-runs with every single activity are ANGS' speciality.

At least they seem to recognise the poor communication and SP performance, but they seem to have done nothing but acknowledge poor comms since the days of Vonk when the IQ was introduced.

Upon commissioning of the permanent pipeline, we need (imo) a comprehensive operational update and clear outline of the financials and refinancing, they cannot keep using the re-financing as an excuse for poor performance, or lack of comms, especially when there does not appear to much progress, if any on that front.

Watching and waiting for something tangible to stem the tide here.

gla

ThisisMoney article today ....

https://www.thisismoney.co.uk/money/markets/article-12552833/Cricket-champ-Freddie-Flintoffs-property-firm-legal-row.html

Whilst I have totally lost faith in the BOD and all aspects of their investor comms, delivery, transparency, etc, they do have sites up and running and the tech has been seen to work.

The question is that due to the funding needs, small projects, even community based, seems like the new goal for them, so everything on a much smaller scale, and are these going to be profitable or merely covering costs?

We need a clear message from the BOD about this new pivoted strategy, and a comprehensive list of all sites currently working, and those in final stages, or contracts signed to see exactly how these will work financially.

Given the BOD history though, this seems unlikely.

I expect to see a small bounce here, it often happens after these big drops, so anyone who bought yesterday could be in for a trade. I would advocate taking any profits if this does happen, as it will likely not be sustainable.

What has been a long road here (my original expectation of delivery was for 2022, revised to 2023) has now become an even longer one, if there is cash to sustain the company.

I still retain some faint hope here, but am resigned to taking a big hit at some point. I cannot see a recovery past the mid to late teens in terms of SP, unless we get something positive.

Will the funding news on Billingham and Deeside for example give potential investors elsewhere cold feet?

So many questions here now, the BOD needs to come up with answers, and quick.

gla

Nice to see a rise here on a non-news day when markets are generally down.

Decent volume so far too

gla

Lav, I used deadline as a general term to convey a point regarding all companies and expectations for delivery on various fronts, not necessarily specific to the completion of the funding and the long stop.

But, a long stop date is still a deadline as such though, a cut-off date, so a bit pedantic to suggest otherwise, especially when many excited investors kept posting 'one week to go' whenever it gets close to each of the long stop dates, thus clearly signposting it as a date they expected to be completed on/by.

In any case it has been extended on several occasions now, and many have stated on each occasion that everyone should have been more open and realistic on the expected timeline.

The chat on this board from the initial RNS to now suggests many feel it has been an unrealistic target given it has been extended several times so expectations should have been managed better.

But the few keep saying that it doesn't matter if it is this month, next month as it will happen. Maybe, but we are told they will be up and running within 1 year of funding. That also may be true, but 1 year from last April is a lot different to 1 year from, say October, or whenever. I have seen this elsewhere where a delay meant missing out on the highest gas prices seen for years and a good 6 months of production at those highs missed which impacted on profitability, credibility and the SP. Not comparing like for like, of course.

I suspect we will have to agree to disagree on this as we have done on other points.

Back to a watching brief for me until next news

gla

It's ironic that he bemoans Logik's unwillingness to engage in discussions and saying how the company has consistently supported its partners, when the silence of the bod towards its shareholders, very poor investor comms and lack of transparency is there for all to see, as is the the consistent support of the shareholders towards EQT over many years.

Should we all take legal action against EQT based on the very same reasons for their action against Logik?

The chutzpah of some of these AIM CEO's is breathtaking.

Anyway, last post here from me today, this company has taken up too much of my time to warrant further activity.

I will await next news with the now expected sense of foreboding.

gla

The problem with what appears to be continued delays is that the perception creeps in that the bod are misleading its shareholders, or are unable to deliver.

It may not be the case, but with shares like this, seeing a company stick to deadlines, cost expectations, etc is worth a considerable amount of good will, and investors with itchy feet will always go elsewhere at the first sign of 'failure', merited or not.

Now, the LTH's may well say 'good' that is not the type of investor we want, but the market will see it differently.

When the deal was first announced, this board was busy with posts saying it will soar past 1p, multi-bags incoming, etc, but the chat has died down considerably here (even the PREM vs KOD carp seems to have largely dissipated from my infrequent visits to this board).

The SP is drifting along while everyone waits. As the news is expected, will this really get the boost many were thinking 6 months or so ago? Not so sure myself as the SP is not in a position of strength from which to build on news, but we will see.

Good luck

I have been saying for a long time though, the UK is too difficult a place to get anything done. The latest news from Rishi has just made it even harder too.

Europe at least appears to have the will (no doubt backed by EU funding) and if (IF) North Fork comes good, that could be a market of some promise (although in need of big investment, but from who/where?).

BUT, it seems more now that EQT will be happy to bump along on a much smaller scale than we were all hoping for through the licencing of their tech.

As chilting says on another thread, they probably will pull through and continue to trade, but given the potential size of this market, unless there is a takeover or large collaboration with a big player, is this ever going to become anything more than a 10m to 50m mcap company, a very small fish in a potentially big pond, a niche company benefitting from local government, or community green policy? The market seems to think not at present.

Change is needed, as currently we are all basing our views on ifs and buts when it has always been about delivery, closing deals, generating income. I have been saying similar since the start of 2022, and will likely be saying it again and again should I decide to stay past the end of NF news

Tariq,

Your decision of course, but for me (91% down) there is no benefit in trying to average down. My personal aim now is to recover some of these losses as I fail to see how this can multi-bag like you could expect some other types of company to do with what they have in the pipeline, and there is little that will likely see a big change outside of full government support to the sector and massive external investment (unlikely in the short term and current economic climate, imo).

I will wait for North Fork news, although my expectations are pretty low now after yesterday.

I am circa 10k down in 2 of my largest holdings neither of which have anything of substance to merit further investment, although at least the other one has recovered from circa 96% down to 81% in recent weeks and could recover further as the subject of a potential rto.

I have a third share where I am 70% down, but this is at least producing and generating profit.

So, 3 of my top 5 holdings are skewing my portfolio, all small caps.

I will not be adding any more into small caps and will actively reduce my exposure over the next 6 months. AIM, imo is a busted flush now and has been pretty much since covid hit. There will always be exceptions, of course, but I am done chasing the next 'big thing'.

good luck

I am "progressing, moving forward" with multiple projects too.

Fitting a bath panel, landscaping the garden, installing a flue liner, trying to reduce my golf handicap (amongst others).

I highly doubt any will be completed within my expected timescale though given my past history of delivery, and that is with all the required funding secured and available!

Perhaps not a like for like comparison, but "progressing, moving forward" covers a multitude of sins, especially in the world of AIM. What does it really mean though? We have nothing of note to report is the subtext, surely?

Will the bod be brave enough to do an interview? Where are the large shareholders with their views? What are the NED's doing to keep the bod in check?

What will today bring?

With the additional news last night and an ongoing lack of transparency from the bod, a slide into single digits seems inevitable.

Sad to see.

That's 2 of my largest holdings now (top 5) where I am so far down that it is not worth taking the massive hit to bail.

Will wait for North Fork news, the only glimmer of hope now I fear, but I expect late news and for it not good when it does land.

Europe projects managed under their new 'pivoted' strategy seem unlikely to sustain the company let alone create growth and profit.

We need an urgent plan to show how the company expects to survive - will this be in the interims? If so, will the market trust what this bod has to say?

Perhaps this all explains why their website is so out of date with project status on each of the various sites with limited information available and complete lack of investor relations.

Their 'strategic pivot' (nice term DP) may reduce a lot of the capex and de-risk earnings, but will also severely impact on timing and profitable returns too with the proposed licencing deals.

Very poor outlook here in terms of recovering SP losses for the many, I feel

The timing of the release is pretty poor.

Seems like they were looking at the market response to the first RNS and then tried to get this one out close to market close to try and limit the impact.

Any remaining goodwill I had towards management and their efforts has pretty much evaporated now.

North Fork or bust now?