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Just to reiterate on the Billingham piece, Palombo very much emphasised that such a project was a key one, even if they had no financial stake in it post project completion (should that occur), it would still be regarded as of major major importance to the firm. To demonstrate its viability, performance and future for our DF feedstock , and show EQT at their best. This is why they saw it essential to re-draft the project plan/finance as many times as it takes to ensure best outcomes and derisk the venture as full as possible. By putting the effort into such a milestone project now, they hope that this will then form a template to work with on future large-scale projects.
Hopefully, they may post a video sometime of the presentation and Q&A! As I have very much summarised the outcomes but people may be interested to hear the full explanations/answers and of course may pick up something I’ve completely missed!
I have to say, that I was relatively impressed that they took on my question and gave comprehensive answer, though they then moved onto another question without answering my query about income re-forecasting! Having just sent an email to a friend of mine (also invested in EQT0) noting that they hadn’t answered that second part, the Ops chap then mentioned they hadn’t answered it and proceeded to pick the question up again in order to field it. So, they were not trying to avoid or get out of addressing queries which I like to see in a company!
No nothing new to be honest, I was listening while having my motorbike serviced, so I can’t say I would’ve heard every little detail.
My question “it appears you are struggling to reach financial close on key projects e.g. billingham….. are you still remaining positive to achieve your income target in the remaining 4.5 months of 2021 or will you need to re-forecast?“
David Palumbo initially answered and then the Ops chief took over. But essentially they stated that Billingham (and other large/key projects) are being worked on to ensure they are derisked as far as possible. It’s the first time I heard that they have re-drafted the project plans several times as it was clear that the first few times we’re not good enough. So this must’ve been part of the lengthened process then!
Whether that was from their own internal assessment or external, it was not clear. They remain in discussions with various potential financial parties and are looking forward to giving positive news in due course. No timescale as to when.
However, as regards the latter half of my question, they essentially remain positive that they’ll achieve their income target by the end of the year. As they reiterated, that the latter half of the year is very much loaded for their income expectations.
Sorry to hear others had problems with today’s AGM.
I’m not sure how it went wrong for people but I managed to email last week per their instructions and get the appropriate email link back on Monday. And it all seemed to work very well today,
I submitted a live question on zoom which they then proceeded to give a response to.
Yep, so disregarding the one-off €1;750;000 equipment and services to EQT, the annual income will be €150,000 (20% of the expected €750,000 EBITDA) to the SPV plus the €215,000 O&M (I assume to EQT rather than the SPV) giving a total income across the group of €365,000!
If EQT exercise the Call option then of course whatever revised percentage holding they would then have in the SPV would increase that €150,000 EBITDA!
Spot on Tafy52! You’d have to be some sort of numbskull to believe that any communication directly with the judge would have an influencing effect on a court hearing! Just idiotic! And potentially damaging/harming our shareholders already very very weak position that we are currently in!
Here you go aandi (as 10:05)....
Bid
Depth 9
09:40 PEEL 200,000 2.00
07:43 CFEP 200,000 1.95
08:35 JBER 200,000 1.95
08:35 MREX 250,000 1.95
07:46 SCAP 200,000 1.95
08:18 ARDA 200,000 1.90
07:56 STFL 200,000 1.90
07:30 WINS 250,000 1.90
07:50 CANA 200,000 1.75
Ask
9 Depth
2.10 200,000 ARDA 08:18
2.10 250,000 WINS 07:30
2.15 200,000 CFEP 07:43
2.15 200,000 JBER 08:35
2.20 200,000 PEEL 09:40
2.25 200,000 CANA 07:50
2.25 250,000 MREX 08:35
2.25 200,000 SCAP 07:46
2.4 200,000 STFL 07:56
Yep aandi.... i’m looking forward to 2020 results. There should be a lot of information to get our teeth into and assess and I hope to see steady progress with an improving financial situation! And, as you allude to, post period updates could be just as interesting if not more so!
GLA
Facmanof1954 it’s my understanding that currently you can add up to £20k of ‘new’ money into the ISA each tax year but in respect of the funds already in the ISA, you can trade buy/sell without restriction as long as the funds remain within. So if you put £20k in an ISA last year and the value of the shares you invested in has increased to say £50k....well then you now have £50k to make trading decisions with. For example, you could sell all the shares and just hold that £50k as cash in the ISA until you find a new investment opportunity if you so wished. It wouldn’t matter if you kept buying/selling and eventually built up a fund worth several million in the ISA (I wish)......that is my understanding and indeed, how I operate my ISA!
GLA
Sorry....but if you’re invested in EQT for the long haul, what’s the problem? The moment the SP lowers, posts come out of the woodwork complaining and/or regretting buying at a certain price! Share pricing goes up and down, accept that! Of more importance are the longterm trend and fundamentals. I find it strange how often unrealistic expectations are voiced by investors. The future for EQT is fantastic currently....but it is in the future. If the SP drops, then maybe it’s a great opportunity to invest some more?
When they announce the 2020 YE results, which will be a loss, I won’t be surprised if someone complains that they had read EQT were expected to report their first ever profit.....having completely ignored that this expectation is in respect of 2021!
Moan over!
GLA and be patient!
I like your thinking Norfolk! If we could all meet Slappy somewhere (safely of course) and rub his head for luck! I’m sure he’d be up for that if it meant 50p arrived!!
NB I am in no way advocating that anyone should rub anyone else’s head for luck or any other purpose for that matter! ;-)
That’d be great if you’re correct JBS! But even today there’s over 3 million more on the Cumulative versus posted trades ..... and there didn’t see any grey mid SP trades, when I had a quick scan through, that could account for some of the difference. It seems it’s no problem for the brokers to continue to fill an order over a number of days and only when complete will it get posted. So assume the 3 million carrying over into tomorrow until the order/s they relate to are completed/filled. Of course, it doesn’t mean that this sum is part of a JH order but they’ve been the main culprits recently! The massive sell-off on Monday’s RNS will hopefully have accelerated JH’s nearing the end of their disposal!
Fair and valid points DarfPhart. There are so many variables that can affect the share, bearish economic uncertainty or bullishness, general sector concerns and the overall desire to move money into a different sector or of course, back again, inflation, impacting legislation and so on and so on. But where an individual company is generally performing heads and shoulders above its peers or at the very least in the top of its sector, that company can buck some or all of the outside influences. And I see EQT as being a pretty good example. Their fantastic turnaround, the ever increasing pipeline of potential orders, the increasing ability to tender on those they’ve triaged as most likely and near term, The impact they are bringing to Billingham (which had been pretty much a defunct project under prior entities), the foothold into America with Northfork (and the crucial abandonment of the CC), Greece et al, the list goes on! In fact, A good read of a of aandi’s posts wherein he distils what’s happening and some of the research and articles around EQT really does amplify the quality of this stock.
So it’s when you bare all of this in mind, and see general buying and selling of the stock on a day-to-day basis that follows suit, it becomes more noticeable when The SP doesn’t follow or appears to deviate from typical movement you would expect from a days trading direction and volume. Monday was a stunning example of this in action. It was obvious, as you were watching the trades come through, which were pretty much 99.9% Buys and at high volumes in the morning, as a reaction to the RNS, that the MM’s appeared to not reflect that buying pressure which ordinarily is highly unusual! Price should have been climbing in order to encourage sellers so that the MM’s can meet the buying demand and of course make a lot of money in the process. As you watched Level 2 movements by the MM’s it was clear that they didn’t need to encourage sellers at all. And of course it became all to clear after the close when we saw around 79,000,000 in background selling finally get posted! So in other words, the demand for shares from buyers was more than met by the supply of stock coming from these large Sell orders. And as explained below, it’s my belief it was a continuance of the JH Sell off. I think it’s reasonable to assume that, as no one else has declared on a TR1 any large movements. Obviously that would only be if they were above 3%.
Some PI’s on here have mentioned along the lines of ‘so what‘, if you’re taking the long-term view it’s irrelevant. And, to a degree, I would agree however, as I said in a previous post, I think it’s still worthwhile if not important to understand Price movement and cause-and-effect of a stock at the current time. Not only to increase knowledge and understanding but also being able to comment on what’s going on may help others to gain a better understanding before potentially making a rash decision, be it Buy or Sell
GLA