The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Morning HeresHopin. I am sure I touched on this before. But here goes...
According to the finals, one of the entries is as follows:
Property, plant and equipment 2,313,431
My guess that's bulk of Newry equipment there. Will have to look at half yearly report to see what the revised figure is, as it was in May that we entered in to the partnership.
No worries HeresHopin.
We never did find out what the 2nd equipment was doe. Palmer came up with the name of a 2nd plant, but I didn't think it had anything to do with North Fork. So, we have one lot of equipment to buy in to 20% partnership with NFCP llc and another set to be invoiced separately. No idea if that's 2 x plants and haven't been able to find anything connecting any dots from research re. California. Too much noise about PG&E.
It's this bit that we await....
"EQTEC also expects to invoice NFCP EUR2.2 million, under a separate sales contract, for the sale of further equipment and the supply of engineering and design services to NFCP. The sales contract, which will involve a substantial down payment on signing together with further agreed milestone payments until commissioning, is expected be completed and signed by the end of June 2019."
King5hott, There's no payment due for the equipment. It is our makeweight for the 20% stake in NFCP llc. There may be some income to be had for any engineering support.
"The Company has signed a legally binding agreement with Phoenix and North Fork Community Development Council ("NFCDC") (the "Agreement"), to acquire 19.99% ownership of North Fork Community Power LLC ("NFCP"), a special purpose vehicle ("SPV") formed to build and operate a 2MW biomass project in North Fork, California (the "Project"). 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."
Evening King5hott. Agree with you. The political and economic ramifications of PG&E problems can not be under-estimated. It took several years to agree a PPA with them. All small peripheral stuff will be put on the back burner until they sort their sh*t out. I just fear that our equipment that was rusting in Newry will be doing the same some where in California. Hope Phoenix have a few other irons in fire (as Ian alluded to), else imo, we could be on for a loooong wait here. IMO and hope it is isn't all that bad.....then as Smokin said, we have two guys out there and hope we are following new leads or getting that equipment set up.
From their June 2019 minutes of the meeting:
b. Biomass – General Electric has opted out of biomass agreement; new company in England will take over.
c. Biomass bond issue is still ongoing
Not sure England as in UK or USA.....
There's a North Fork Community Development Council meeting today. On the agenda, amongst many other things,...
Discussion and Action Items
Old Business
Biomass plant—update
https://northforkcdc.org/?cat=6
I'll be looking out for the minutes of this meeting.
I think this is what's thrown everything about North Fork in to a limbo (dated June 2019):
https://www.greentechmedia.com/articles/read/pge-bankruptcy-judge-leaves-door-open-to-severing-renewable-energy-contract#gs.qv39lc
"PG&E’s Bankruptcy Judge Leaves Door Open to Shedding Renewables Contracts"
You can just about read it before they ask you to register!
Smokin, They gave us the full fanfare treatment with the Billingham announcement.... Just a reminder how EQT tweeted back in MAY:
#EQT have signed a transformational deal with Cobra and Scott Bros for waste #gasification & power plant in Billingham
Project Value c. £150 million to £180 million
#EQTEC #W2E #RDF
https://twitter.com/eqtec/status/1126023722383572992
Smokin, "Wonder if we will hear anything about"....ANYTHING any time soon is my question to Ian. having used up numerous words to describe the progress he and the company has made, I guess he now knows that nothing but hard facts/proof will help regain his credibility. The Phoenix contacts(s) for me was expected to be real groundbreaking stuff. Three weeks past the stated date, no update.
Apart from something totally out of the blue, I am not sure which project/Mou/partnership I can look forward to. Even if Ian gave a small update, we can at least start discussing and researching, rather than get depressed staring at the charts.
We were at an advanced stage in Spain, Billingham ball must be rolling by now?. We are supposed to be the LEAD player for Billingham, as such I expect a better handle on the progress. I have done ample digging and thus far fail to find any newer mention on those two projects. Ian seems to be in hiding.
May be, just may be, Ebioss have a card to play at the end of the months. We'll see. GL.
yoshie, guys like the oneoneoneone need to be held to account for their hindsight gloating. How many weeks of 0.2 do we have to put up with?....didn't have anything to say y'day when the SP moved up a few points and crawled out from under the rock at the 1st sign of retrace. A sad individual who has to resort to multiple aliases to talk to himself. I note he still hasn't taken up the challenge. Akin to the Amigo when I challenged him on his 'double next week' post. Have a good evening all.
"EBIOSS Energy announces the Ordinary General Shareholders’ Meeting for July 30, 2019 at 10:00 a.m. on first call and August 15, 2019 at 10:00 a.m. on second call."
Not sure what 1st and 2nd call is all about!
Hi Smokin,
Can't be this month mate. They have AGM/EGM on the 30th to seek approval of restructuring. Then we may hear about their concrete time table.
FWIW, I still think they are dumping and will probably finish by the time their AGM comes round. I wonder if they'll avoid another TR1?!
Just so you know how easy it is to create a thread.
One for you oneoneoneone.....or should that be 1111?.
So, 0.2p next week?. Here's the challenge. NO, it will not hit 0.2p NEXT week. I'll challenge you and give you the benefit of all the way to 4:30 next Friday. 0.2p, I'll not post here again. If it stays above, you take a hike..... that's to BOTH of you!
bfg6ft5,
From Finals,
9. COST OF SALES - Dec2018
Materials purchased 2,252,639
Sub-contracted work 750
ISEM trading fees
2,253,389
Interesting that we purchased that equipment in that financial year. Nothing the previous 3 years?!
Problem is I found their accounting details very confusing, as since floatation, they've been shifting numbers around between Iberia, and EQT PLC. Hopefully we start with a clean slate from Jan 2019. I expect some confusion about the accounting entries relating to Newry equipment which formed part of the NFCP llc partnership, i.e., valuation and depreciation.
Ian, I overlooked the date stamp. Friggin disgraceful that the mm's need one month to report a trade/error. If our Nomad had any cajones, they'd freeking have this mm removed from our handling our stock.
Agree with Zoom on this. I also recall the last time this happened.
However, if you follow the trades on a_d...vf...n.
According to their reporting, there were 3 x 20 mill all timed 05:20:12.
2 x 20 mill @0.004 followed by 1 x 20 mill @ 0.35.
A deletion followed by a purchase?...... a huge premium for that size.
Also, Monday there were 2 x 20 mill (5 mins apart). Someone suggested a rollover.
I think someone is either building a position or shorts closing.