The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Now also on Twitter. Someone seems to be reading here or at our channel next door. Thank you :-)
https://twitter.com/eqtec/status/1527555862981640192
Those who attended the AGM yesterday saw that A.Y. is currently working at our Italian MDC and joined the session separately. You can admire his spontaneous wifi setup on this photo :-)
https://media-exp1.licdn.com/dms/image/C5622AQGbSjk75QgyrQ/feedshare-shrink_800/0/1652975297021?e=1655942400&v=beta&t=6UiqGtTvuoQdxolB18g-ILSAWxVNKsSyjkxoei10jho
And here is the text, since not everyone has a LinkedIn account:
"Thanks to the #EQT shareholders who joined us for today’s EQTEC plc AGM from Cork. We remain convinced we have some of the best, most proactive and engaged shareholders we could want. For those who joined, please know that our CTO, YOEL S. ALEMÁN MÉNDEZ, who was on site at our Market Development Centre in Gallina, Tuscany, joined the call via this rapidly engineered Wi-Fi device he set up with our local, Italian partners! Well done, team! GIAMPIERO SERVETTI"
Found this set of four photos that DP posted yesterday as a comment on another post on LinkedIn.
I think they're not easy to find and nice to look at, so here we are:
https://media-exp1.licdn.com/dms/image/D4E2CAQHJh5jLi7E11A/comment-image-shrink_8192_1280/0/1652858189184?e=1653634800&v=beta&t=w5MxTzLntokQKUcwYYQgWH62qKJNpiIRVGPvPJ9VlT8
https://media-exp1.licdn.com/dms/image/D4E2CAQFkTeDUfZ3tPg/comment-image-shrink_8192_1280/0/1652858138038?e=1653634800&v=beta&t=oDf9PzRbvVUy2Ox2Db4wMyFqZx06jC4savETHRpjz-Y
https://media-exp1.licdn.com/dms/image/D4E2CAQHZyS4F_XR-tw/comment-image-shrink_8192_1280/0/1652858151104?e=1653634800&v=beta&t=MHZLTmb2VkA9Q9AMmJq5jucJj_nHcO5PiiQ8Khyshd8
https://media-exp1.licdn.com/dms/image/D4E2CAQEQ5f8uSYW3Qg/comment-image-shrink_8192_1280/0/1652858165164?e=1653634800&v=beta&t=HXQBpeI4C3Fq3aFeU7ixM-rlJBHAwc1Lj1rT7b8M7u4
PWB would mean that healthy trees etc. are felled specifically for energy production. This wood or this type of biomass is not what is used in EQT Plants, it is a raw material for which one would have to pay dearly and not waste, for the disposal of which one would at best get gate fees.
The following from the text is more likely to apply to EQT:
"The definition however includes exemptions for forests affected by fires, pests and disease, carving out significant potential loopholes for the use of PWB."
This applies, for example, to the entire California pipeline and will certainly also apply in some places in southern Europe. Greece, for example, also has a large potential for forest fires.
The rest should be secondary woody biomass.
So this won't really hurt us. It may even help us.
In my opinion, much own money is locked in the projects because they haven't really finished any of them yet.
Investors' money is still waiting for them to show that working power plants can be completed with EQT technology. That's why they need to get the MDCs and the cash-eating North Fork across the finish line.
It is important to get the above mentioned done quickly and, especially in North Fork: Then get some cash back out of there quickly.
It is clear and logical that the big projects will be put on hold until then: EQT have neither the money nor the interest to take them into their own hands at their own expense. But first they have to create the conditions so that someone else will pay for it and have it built. And that includes proving that EQT technology works on a commercial scale.
I can live well with the parallel, aggressive growth course. There's always a certain risk, but if I want my money to grow exponentially, I can't bet on someone who doesn't do their second job until the first one is finished. Imagine if we had waited for NF to be finished and hadn't initiated anything new in the meantime.
I will measure them by whether and when they have the MDCs online.
The annual report 2021 can be found here. It shows that most of the cash has not been burnt but moved into assets:
https://eqtec.com/wp-content/uploads/FINAL-2-24-Apr-22.pdf
They did a presentation after releasing the Report including a q&a session at the end. The q&a included question re cash & cln. The full presentation and q%a can be watched here without registering:
https://www.youtube.com/watch?v=M-JaWerUXqE
The next AGM date is 19.05.2022. Anyone can watch it via investormeetcompany and the platform allows to send questions, so feel free to join and ask.
https://www.lse.co.uk/rns/EQT/notice-of-agm-csqc2ffkk19q6c1.html
They already did a month ago. There was a holdings RNS:
https://www.lse.co.uk/rns/EQT/holdings-in-company-g0kt93oor24z2ru.html
Any news or why do you warm it up again?
Posted by PHE's "Top supporterting chartist" in his own channel and even made sticky during one of the darkest hours of the PHE shareprice (last friday, c. 13:00h):
"The accuracy of my system of T.A is going very well. Lots of winners. Not only the winners but the sell-offs also, which is great if you want to short the market. Shorting, a lot of the time is better than going long because it occurs much faster. Selling is fast & buying, typically is slower. No system is ever 100% accurate & one has to be able to adapt to changing market conditions. I am overall very happy with how #swazcharts system of T.A is able to read the markets. It's very powerful. The proof is self-evident with the predictions. ????"
Must have been a different group or at least very long ago. I am in this group since Feb 2021 and cannot remember much traders' talk there.
The group rather has the reputation that those present there, especially those who speak up, discuss with a lot of knowledge and rarely if ever sell EQT shares, but would spend their Breakfast egg for another 50 shares. Most ther only buy and I think more than 10% of the MCap are represented in the channel.
At night and on weekends there can sometimes be OT conversations between people who have known each other for a year or longer. But this is usually cleaned up the morning after, before regular discussions continue :-)
The plain 20k are a little above the usual isa level of 19.8k plus stamp fee. Maybe it still went to his isa. Guess he knows that this is the best way to invest his own money. And after the FR and all news out, this was one of the very rare moments to buy own shares at all without looking like an insider trade. :-)
However: The way down started with GM selling his shares early last year. Let's go up again with our CEO buying a similar number of shares this week.
Dr.Anomaly, I would even go one step further and say that there is currently no competition here, but rather synergies:
Gasification has a reputation for being technically difficult and having many teething problems.
If one of the companies, whether it's EQT, PHE or VLS, has a plan up and running, it will have a positive effect on everyone else because that's proof that the technology is advanced and manageable.
The market is big enough. This is a tens or hundreds of billions market, and we're just getting started. There are enough fish in the pond for everyone.
If you haven't done it, yet: 23 minutes left to register and join:
https://www.investormeetcompany.com/eqtec-plc/register-investor
Computer909, I think we agree that we can't continuously invest a lot of money in more and more projects as long as the current projects still tie up a lot of money.
That's why the small projects that we've already invested a lot of money in have to be finished first. This frees up money and clears the way for other people's money in future projects. And it clears the way for our larger projects. Because with the best will in the world we couldn't finish them out of our pockets. The required trust will be created by means of the "small" projects mentioned.
However, my time horizon differs from what you estimate for the consolidation. I would not like to consolidate for two to three years and forgo exponential growth. Maintaining the pipeline isn't that expensive once you have a network of reliable investors to buy your spvs in the short term. Besides this I think this year we're going to get to the point where we can take some money out of the finished plants and reallocate the money, e.g. by selling shares of the running SPVs. And, with some luck, we'll see something at our second US plant which looks like it is highly, maybe even fully funded by public money.
The only thing I was wondering is why Altair didn't step in again and lend us the money on short notice. They had already done that a while ago so that we could redeem the old Riverford loan early. They are currently holding just under 20%. Maybe they do so for a reason and do not want to invest another 5% via the back door. However, I think Altair have been asked and if they thought Riverford were a bad idea they would have provided or brokered the money themselves in the short term.
Computer909, "As i said, get one of the larger projects to financial close and the complexion changes, at the moment it's a concern for me."
Many shareholders got into the company at high prices last year because they had exactly that: expectations of the big projects. At that time, however, there was the green wave and the money was thrown after everyone who only wanted to do something for the Greta youth.
The current reality is different: People have become more careful and gasification has a general reputation for not working very well. A lot of people have bitten their teeth off that and a lot of people have lost money.
EQT is one of the very few companies to have built such systems that actually work, and some of them have done so for a very long time. Nevertheless, they built it a while ago and first have to prove that they can do it again and with a certain regularity.
As soon as the first two or three "smaller" plants are online and producing, investors will be lining up.
But these 2-3 small plants have to be finished first. And that's when EQT happens what they don't want right now: They have to raise money to build their own plants instead of outsourcing their spvs and having it financed externally.
I've never made a secret that I don't like North Fork, for example. There is far too much money tied up that is missing elsewhere. And I think it was never the plan to have 50% there. But it was necessary because EQT could not afford to fail on their first US plant, despite adverse circumstances. There's a reason this isn't becoming the MDC for the US. But fortunately it should be finished soon and release some cash, so: "Get it done, get it gone."
Jeff once talked about the critical mass they need to get things rolling. And he once talked about the chicken/egg problem, which, in simplified terms, looked like this: the money for building only comes when you have proven by building that you can build something that works.
I see both in the completion of North Fork and 2-3 plants in southern Europe.
I think those are the key events. And I expect the three big British plants will be deferred until then. A financial close Kibo or similar is of no use to anyone. Then it's better to prove that you can do it by completing 2-3 small ones and then get real investors on board for the big ones.