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Not trying to make a whinge morning, but Knig5hott, yours "They probably dont even have any PR/IR guys just Ian price replying to everyone's emails."...
Have a read of the Finals and you'll see a major part of Ian's remit is to be directly responsible for answering to shareholders. Guess what, not one person on this BB can claim to have received any direct reply from ANY of the directors. He only speaks through rehearsed interviews and tweets. Investor Relations are (not) taking care of shareholder comms.
Anyway, Ebioss GM Thurs. nearly half way in to August, so assume mushrooms will be exposed to some light soon!
GL
bfg, I'd ditto DBB and King5hott on the subject. And indeed, I tip my hat to you sir for your endeavour.
Me, I see a problem much nearer home I am afraid. My angst is aimed at the management, the PR/IR and the Nomad.
Your quest is to bring the environmental and waste issue to the attention of the decision makers. My view is that the issue is not been entirely overlooked and that there are several Biomass/RDF plants already operational in the UK and worldwide. Sure, more could be done to accelerate it. But IMO, the onus is also on the companies like EQT to beat their drum.
I have failed thus far to get any worthwhile response from the company or the IR/PR guys. So, I have been busy emailing all the other parties in our equation to ask why they are silent on the subject.
Examples:
Phoenix. Their website has not been update for a couple of years. No mention of EQT. No promotional activity.
North Fork Community. Whilst they discuss Biomass project and financing, no mention of EQT in reference to NFCP llc, nor has their website been updated since 2 years ago.
Nothing in the USA media that refers to NFCP and EQT. Very old reference to Phoenix and GE for equipment.
Billingham: Nothing in the local media. Nothing from Scott Bros., Nothing from Cobra.
EBIOSS. Their website is neglected. No mention on Urbaser progress. Fire fighting with their restructuring.
Seems we and our partners are a perfect match. They are all PR shy. I can understand not mentioning financial considerations of projects due to commercial confidentiality, but PR through media channels is basic stuff. Bowlux to ************* interviews which are designed for RI's.
So, where's the self promotion?
We could do with one.
Last update back in April and all subsequent RNS were pumped up about the near term, advanced stage, etc. Black out for 5 weeks now. Ian, if you are reading this, let's be combining any Phoenix news with an update on your immense workload that you are progressing on behalf of the company owners. 'Advanced stage' is wearing thin over your 12 months tenure.
Theoretically, once the funding is approved/released, the plant build can commence and get all the logistics in place. The hold up for long term revenues will then be PG&E or whomever takes over the PPA, which whilst should be a formality, there may well be further hurdles to clear.
The big plus is getting the plant build started, something to help apply the pressure on the relevant authorities and to be able to showcase the real thing. GL LTH's.
Morning Smokin.
There's a sneaky buyer about, taking these nibbles I noticed! 2 x 2 mill y'day too.
With news blackout lasting over one month, I do however expect some T20's closing or rolled over.... even some new one's taken out! Gonna be difficult to analyse the trades. GL
dealer, I am sure most LTH's would on the whole agree with your post and share your pain. Those that can top up and are prepared to take a risk MAY just mitigate some of their losses, even return to profit.
My opinion is your bottom line " He won't be dead but his company isn't far off." may be frustrations and anger talking. If you still have a holding, hang in there to see out 2019. After all it's bottom drawer designation anyway. IMO, there's sufficient finances to last another year and more to potentially get things moving. There are definitely irons in the fire, may be not of the type that Ian dreamt about, nonetheless, some must be (?) due fruition. IMO, not yet a write-off. GL.
One more week before Ebioss gets it's sh£t together. Get one uncertainty out of the way. Could do with knowing what their current holding might be. Friggin annoying that both Ebioss and EQT can keep a lid on this. IMO, a major put off for buyers/traders, seeing every reasonable purchased swiftly balanced by an equivalent dump.....almost everyday. There's no way any PI is dumping those round numbers and certainly not at profit. Disgraceful handling by EQT and the nomad IMO.
Well, I've put my money where my mouth is and am prepared to wait and see what RNS's appear before the AGM.
He's either a goner by then or produce something to win support. I am betting on the latter.
IMO, DYOR, GL.
Also, if anyone didn't want to read the document from that link, this is what it is all about:
Staff Recommendation. 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.
King5hott, I'd ditto everything in your post....except the bit about Ebioss. We are/have been effectively in bed with Ebioss with overlapping of Directors. So, every move by Ebioss (IMO) will been known to our Board. I will neither excuse a lack of TR1 nor the explanation given to us by the IR (RI panic selling!).
I can also sympathise mildly with Ian re. Phoenix/NFCP. However, I don't believe he's been very forthcoming with explanations. May be he got ahead of himself with the 'end of June' statement, inexperience perhaps.
Let's see what unfolds. GL.
DBB, based on our findings, we are pretty close to hearing something on NFCP. We are two months in to Billingham MOU, surely they've not been just pushing paper all this time!. One of these 'advanced stage' projects must surely hatch any time....9 months are up!
IMO...there'll be stream of RNS's leading up to the AGM... good or bad!
GL
Good questions there DBB, But here's my take on them...
Ebioss: I honestly do not know the regulations governing share ownership between listed companies on the same SE. I had hoped Ebioss will have got their GM out the way last week, thus restructuring confirmed. They may still be cashing out to survive. At least lack of news has put a stop to their potential gains!. Just have to wait for next shareholder list.
When I 1st prepared my big post, I had included 'feck the shareholders' and intended to say, if you believe they are looking to gain and can afford it, a case of can't beat them, join them. Altair have not quite been ethical have they!!.
BTW, I can also cite another example of a company I follow (CERP). Their directors have been taking 50% salary in shares for over a year. They are still under water!!!.... so no guarantee. They are wealthy enough to shrug their shoulders.
AGM: You know, I have been to a number of AGM's and in the case of 'all is well' they'd be happy to hold it at a more central venue. However, if the **** hits the fan and they fear the wrath of the holders, they'd make it least accessible and @ silly hours!!.
I also recall one company where the Chairman made it clear that any questions under AOB had to be submitted BEFORE the meeting and he chaired the meeting very strictly to suit the directors.
King5hott, as promised, here’s food for thought:
Please note, no advice intended, connect dots to suit your own view. Trolls – no ramp intended, so save your energy!
Firstly, here are the ‘FACTS’ (based on company announcements):
Historically, we burn 1.5 to 2 mill per annum (see annual and half yearly reports)
Confirmed by Align and they projected cash burn for 2019 max. 2 mill.
We raised 1.5 mill in March. Should’ve been enough for the year. Can’t recall that being used for repayment of loans. Yet, raised another 2 mill end of June.
Also, some of the directors agreed to take 40% salary in shares (indirectly generating over 1/4 mill).
Q: Why so much raised (more than we usually burn) and yet cost reductions implemented?
Ian price has continued to tow the line of several projects at advanced stage, nearing contracts.
He has been consistent at each cash raise that it is to accelerate strategy.
Advance stage referred to those in USA, Spain, and ‘others’ (?)
Possible answers:
Projects are genuinely at advanced stage, thus require immediate additional resources.
We have probably recruited more staff and/or outsourced other work, not all can be paid for in shares.
Even if the additional money is not required for, say 2 months, the low SP provided an attractive opportunity for Altair and management to participate in share ownership.
I should’ve guessed from the directors participation that there’d be no news for a ‘while’, saves being frowned upon for a cheap take-up.... inside knowledge and all that! Now 4 weeks since last RNS.
IMO, Both Altair and Directors expect to make substantial gains from their participation @ these levels. If the company goes t*ts up, is Ian recruit-able?, will Altair really take a hit?
As a side note, IMO, Ebioss are going it alone re. LSE listing. Had they retained their shareholding there might have been a chance of a reverse takeover. IMO, they’ve offloaded for the purpose of survival whilst they restructure or may have been forced through some regulation on listing.
All conjecture, no ramp intended, DYOR....