The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
As long as Ebioss don't hit us with another dump, it's a start!
TBH, the silence from the company has been deafening and IMO, totally uncalled for, following the verbal diarrhea Ian had since his arrival. May be, just may be, it's quality over quantity in comms.
GL.
Seeing North Fork is on the verge of green light, thought I'd look in to Wilseyville.
Early signs are we are talking another long standing project that's been stuck in that pipeline....
"CHIPS has purchased a former lumber mill site in Wilseyville. In partnership with Phoenix Energy Company, we are in the advanced planning stages of constructing a 3 megawatt gasification facility to provide electricity, heat, jobs, and biochar. The energy plant is scheduled to go online in 2016"
Will try and find more recent info on it.
GL.
So, it's only our troll pencilled in end of the month RNS. It's always been understood through our findings they will have firmed up the financing by end of this month. The media and Stangl acknowledge that, as does the treasury.
yep, one week is about right King5hott. Not sure minutes are important this time round as they cover several community issues.
...a CDC board member and the plant’s construction coordinator, confirmed Thursday the joint venture expects to make “a major announcement very soon.”
DBB, my issue is why, with the modern technology, it should take this long to report a trade. FFS they can drop a bomb on the other side of the world within a nano-second of pressing a button on a keypad!
Anyway, nothing from our friends in the USA. I do however wonder if any news will be simultaneously announced. California being 6 hours behind, would have to be late announcement.
Happened y'day guys. 26th!... looking out for any outlets reporting anything...
https://northforkcdc.org/
King5hott, my association with EQT doesn't go far enough to comment on earlier projects. But I would find this alarming to discover that we spent almost 6 mill on equipment for a project that was subsequently written off. How can someone commit to that magnitude of money without any guarantees or upfront payments. Arguably water under the bridge, but .....
Anyway, if some of that equipment (that was written off) is now used for NFCP partnership, then accounts will have to be amended and appropriate values noted.
Just one more bit of info that I am confused dot com on.....
In last years' Finals (June 2018)
-------------------------------------
"-- Loss before tax for the period was EUR6.002 million compared to a loss of EUR1.792 million for the year to 30 June 2017. The increased loss is after taking into account an impairment provision of EUR4.985 million on equipment and assets held in the Company's Newry project
-- Decision taken in principle to sell these Newry assets for approximately EUR4 million as part of the equipment for the proposed PT CITRA project in Vietnam leading to possible cash flows arising from these assets earlier than anticipated
----------------------
So, where did the equipment for NFCP llc come from, seeing we sold it all last year?!!!!....
North Fork RNS said: "The consideration for the Company's investment will be solely satisfied by the supply of certain items of the existing equipment currently held at EQTEC's Newry site, valued at US$2.5 million and no cash consideration will be required."
So they didn't sell all the equipment or had a lot more lying around?
Never very clear with EQT!
King5hott, re. my comment about the £15 mill Bond sale might be a red herring...... here goes:
Based on this link:
https://www.wbdg.org/resources/biomass-electricity-generation
Typical cost of a Biomass plant $4000,00 per KW, thus 2 MWatts = $8 mill.
Seeing this article is 3 years old, let’s double it!...so, typically, $16 mill.
The Bonds they are trying to sell and apparently delayed (finding difficult?) $15 mill.
Note: we are not starting with a blank sheet of paper. The North Fork Plant has been planned and a lot of the groundwork has been completed, some equipment already there (pics). So, the point being, they have already had over $9 mill through various funding, grants and gov’t initiatives, of which almost $1 mill paid to PG&E to hook up to the grid.
Secondly, with us becoming 20% partners and contributing “existing equipment currently held at EQTEC's Newry site, valued at US$2.5”, so arguably that’s another $2.5 mill they don’t need to find.
We also know that the treasury has approved:
“Staff recommends approval of Amended and Restated Final Resolution No. 18-01-585 approving the issuance of Solid Waste Disposal Revenue Green Bonds in an amount not to exceed $14,805,000, comprised of an aggregate principal amount not to exceed $9,305,000 in tax-exempt bonds and an aggregate principal amount not to exceed $5,500,000 in taxable bonds, to finance solid waste disposal facilities and equipment of North Fork Community Power, LLC and/or its affiliates.”
Then you have NFCDC meeting confirming money to be released from Escrow. What money and how much are they referring to or the fact their timing coincides with the treasury, are they talking about the same money?
Nonetheless, with our contribution and Treasury’s approved financing, why are we still talking about $15 mill Bond sale as a separate entity?. Seems to me we have enough money coming from other sources(?) to proceed.
Hence my suggestion, it may well be a deflection to keep the competitors guessing.
Mct, I agree with your "Once underway it should reassure other potential targets of Phoenix/Eqt"..... and BEYOND:
an old article, but emphasises the significance...
https://thewatershedcenter.com/regional/north-fork-community-power/
Just a repeat mention of the Sierra news article, but good to see it's being noted by others:
https://www.bioenergy-news.com/news/construction-of-california-biomass-plant-could-begin-soon/
TA, Seeing the volume today, the lack thereof, and seeing your post says all about the how much the sentiment has been killed in this stock. The BoD have a lot to answer for imo. It is almost as if they are toying with PI's but keeping the big boys in the good books.
The silence cannot go on indefinitely as any significant news from North Fork will have to be relayed. As long as the 20% ownership of NFCP llc is intact. GL.
They last used that picture in an April 2019 article (if we managed to ship it in time)....
https://sierranewsonline.com/pge-bankruptcy-stalls-north-fork-biomass-project/
King5hott, I am trying to get my head round the whole financing issue. Will post once I have digested a few more things. I think there may be some deflection in the statement about the Bond sale....not sure.
As for the picture. don't fall for it !!... it is a very old picture, been doing the rounds for years. Lazy journalism imo.