Firering Strategic Minerals: From explorer to producer. Watch the video here.
TBH guys, I'd rather follow applegarth's view. This is AIM. Does not take much to shift the sentiment. Inevitably, any positive news brings with it the AIMigo's and the likes. So be it.
However, I am not sure where the news may stem from. Having waited over a year for something to come to fruition, I would welcome a small-ish revenue from anywhere! A confirmation that the management will take 40% salaries in shares as from today alone will give me some hope. Near term, advanced stage, imminent, by x month etc has work off and the market and even traders want to see some substance.
Here's hoping for some progress news....sooooon. GL.
Smokin, it's sad times here and I am truly sorry to be mocking events but trying to remain light-hearted and semi-positive under the circumstances.
Yours: "Ebioss need Eqtec to carry out the work on the contracts"... Lol! as if we have an amazing depth of experience and proof of plants running all over the world!!. All Ebioss needs is the patent and they can get that from the receivers for next to nothing!
King5hott, not so much get wiped out, the controlling parties (lenders) may accept a low ball offer which leaves LTH's underwater. For example, Ebioss selling suppresses the SP, 40% owned by Altair and Riverfort, thus the latter two can drive the vote.
Smokin, Ebioss may want out altogether. Remember, if they have been selling from the 0.80 days, their average selling price still sees them in profit and they can afford to sell @ 0.20. If the desperation kicks in, the word profit does not exist. IMO, the lenders will now wait for Ian to speak enthusiastically before starting their games.
Ebioss are working to a time line. AGM/EGM, Float.
Essentially my understanding is that a party is breaking the rule and the Nomad is choosing to ignore it. The numbers are visible to everyone. I have followed numerous companies where every breach of 1% holding is TR1'd, except below 3%.
May we'll not agree on this, but IMO, EQT knew damn well (from 2 rns's) Ebioss have sold over 200 mill shares. The Nomad should've picked on it too. Why would Ebioss keep quiet and not comply with the regs with they are looking to list on the LSE?
Funny you should say that Smokin!. The major shareholders are now the lenders. it were the lenders that demanded that Sanchez be replaced. I guess Altair et al will ride the gravy train until saturated and their future financing could have pre-conditions. Too far ahead to be searching for answers imo. I think Price has bought himself another year of tenure.
With hopefully Ebioss out of the picture (or back in with a bid!), may just open up other scenarios.
solstace, that is the argument used by the IR company (Tim et al).
Simple answer....EQT KNOW OF EBIOSS HOLDING CHANGE (see march rns and 28th June rns). Just quietly allowed to escape their minds, seeing that we have common directors on both Boards.
smokin, I hope that to be the case buddy. But the way these guys are messing here, I'd loathe to bet on it. I thought the SP would be higher than 1p so that Altair could exercise their last warrants. Only for them to receive gazillions more shares @ 0.33.
We seem to be stuck in a mess of one financial review after another and compounded by one business strategy review after another.... without actually delivering any thing.
ANd....in the Finals rns, the section: "Engaging and Communicating with Shareholders"
"The Board is committed to maintaining good communication and having constructive dialogue with its shareholders. Institutional shareholders and analysts have the opportunity to discuss issues and provide feedback at meetings with the Company. In addition, all shareholders are encouraged to attend the Company's Annual General Meeting. Investors also have access to current information on the Company though its website, www.eqtecplc.com and via Ian Price, CEO who is available to answer investor relations enquiries. Regulatory information is disseminated via a Regulatory Information Services before anywhere else"
So any one managed to get an email response from Ian Price???
"and via Ian Price, CEO who is available to answer investor relations enquiries"
Good to know their selective reference to AIM rules:
"Such cash cost reduction initiatives in relation to Thomas Quigley, Ian Price, and Gerry Madden which will be related party transactions pursuant to the AIM Rules...."
How about a reference to AIM rules re. TR1's?
dealer, read my post on the new thread. If he follows through with his proposal of 40% salary in shares, he won't need to buy any more. 40% salary @ 0.33 until July 2020. I am sure he'd want the SP higher than 0.33.... can't be that hard to arrange that!
Honestly guys, the two RNS's of Friday a flung a load of sh*! all over the place and this company is beginning to stink... I can not wait to exit on the next 'project' news.
Funny how it became imperative to do a finance restructuring just BEFORE announcing the Finals. They have effectively used up all the last AGM rights to issue more shares. Guess what? Similar resolutions will be inserted in the next AGM and with Ebioss reducing, guess who are the main holders with controlling votes????.... yes, Altair & Rivefort collectively will represent over 38% of the company ownership. The company appears to be being run for the benefit of the lenders and the management (salaries).
Amazing how they managed to accurately execute all these shares issues in a very timely manner, yet their good will gesture of directors salaries in shares is left as an open ended proposal.....subject to blah blah...
So, I can't see the lenders selling any more until the AGM is out of the way in order from them to cast their majority vote. That will give Ebioss a free run to dispose as their AGM/EGM and LSE listing is nearing.
I think the directors may wait until (if) the SP rises above the stated price before agreeing to take 40% of their salaries in shares. Surely they wouldn't want to be lowering their life style!
Check the wording - Proposal/Intended....
"Proposed cash cost reduction initiatives include:
-- It is intended that Thomas Quigley a, Non-Executive Director of the Company, shall receive his remuneration in new Ordinary Shares at the Placing Price until 31 July 2020.
-- It is intended that Ian Price and Gerry Madden, Executive Directors of the Company, together with new senior management appointees Yoel Aleman and David Palumbo, shall receive 40 per cent. of their remuneration in new Ordinary Shares at the Placing Price until 31 July 2020.
-- It is intended that any new Ordinary Shares issued in lieu of fees and salary will be subject to lock-in arrangements.
-- The Company proposes to issue 15,151,515 new Ordinary Shares to Thomas Quigley, trading as Cloudberry Corporate Advisers, in lieu of corporate advisory fees in relation to the Debt Restructuring.
Such cash cost reduction initiatives in relation to Thomas Quigley, Ian Price, and Gerry Madden which will be related party transactions pursuant to the AIM Rules, are still to be formally agreed and further announcement(s) will be made in due course."
On a final note, they also said: "The Company also announces that it has received notice from Oscar Leiva, a Non-executive Director of the Company, of his resignation from the Board, with immediate effect, to focus on his commitments to the EBIOSS Energy SE Group.".
There we go, Ebioss/EQT, conflict of interest, they all must have known Ebioss were the seller.
King5hott, a million dollar question lol!...no pun intended.
The North Fork contract ain't that big, but it's revenues generating. The way it's being delayed and the goings on with PG & E, I can not see anything happening any time soon. As garyn said on another thread, if some revenues were imminent, may be they wouldn't have rushed through re-financing. IMO, there were enough funds in the pot to see us through in to next year.
With shares issue galore, I fear that any SP recovery will be painfully slow (barring a top end contract), and there will be a DIS-orderly queue for exit by all and sundries; lenders, stakeholder, warrants redemption, etc. Add to that the traders entering at these levels and impatient holders. Me personally, @ break even or just above I will be moving 80% holding outta here and not look back. This company in it's presence form does not deserve LTH's. I'll leave 20% in the bottom drawer.
Bottom line: I am not pinning my hopes on 1p this year.
IMO, GL.
PS., Let's wait and see what games EBIOSS are likely to be playing.
I don't about the TR1 rule, but being based in Ireland, there are other rules changes apparently. I'd have thought keeping your shareholders informed and transparency would've gone long way in making an impression.
King5hott, I am not for a minute suggesting all these MOU's, Projects, Collaborations, etc are hot air. EQT are not unique in this situation, look at PHE as another example, now Ebioss (about to join LSE). There are some big hitters out in this market and our breakthrough may mean just keep knocking on doors until one opens and the picture will soon turn rosy. However, not sure our debt mountain will disappear though and how much return the LTH's might see. The directors will have earned good salaries and lived a lavish lifestyle on the back of promoting potential.
Still angry that they kept quiet about the Ebioss disposal. Why no TR1?