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jabberba, if you know that 5m out of 10m loan facility were drawn you would also know that it to invest in Deeside and not just to keep the lights on. So in your attempt to deramp, you are coming out looking like lacking basic comprehension skills?
Yes, this looks really promising where feed in tariffs, connection to grid etc is all in place.
Only after Italy announcement, it became clear what shovel ready meant!
And there has been loads of this cryptic goodness hidden in the last Trading update RNS.
It is worth noting that EQTEC do not need to raise funds to keep the lights on.
Any cash raise will be for an investment with high IRR and therefore should be positive for the SP!
But MetalNRG invested 700,000 euros into the Italian plant?
How much will MRNG be putting in the other 5 (or 6?) shovel ready plants?
Also from EQTEC point of view -
1. 10m from fund raise
2. Roughly 6m 2020 loss
3. 525k euros invested in Italian plant
Need some cash coming in soon(e.g. from North Fork?) or may require a find raise for taking stake in the other shovel ready plants?
From MetalNRG RNS - "MetalNRG will hold 26.66% equity in the SPV for an investment of Euro 700,000"
Which works out to 2,625,000 euros as total cost of the Italian plant.
And if EQTEC has taken a 20% stake then they have/will potentially stump up 525,000 euros?
Guess still some gas left in the tank after this?
Hoping to see the imminent Financial close on the Italian one this week and for the remaining shovel ready ones before end of Q2. If that happens SP should see an uptick.
This is in Arden note -
EQTEC*
An Expanding Deliverable Pipeline - Buy
Trading update - EQTEC has released a trading update highlighting dramatic pipeline growth, a number of positive operational developments and reassessment of project timings due to COVID restrictions and Brexit. Headline changes to financial forecasts underplay the Company’s strengthening operational platform to deliver exceptional growth. Buy.
Upgrading operational capabilities – EQTEC is developing robust business development processes to protect financial close, minimise the risk of deal break and mitigate against delays. The pipeline of opportunities is up 83% to 75 since the 2020 interim results and measures taken to de-risk project development and deal closure underpin our confidence in the pipeline.
Refining the pipeline - A small number of closely scrutinised partners provide the near-term pipeline. EQTEC takes care in reviewing multiple datapoints to assess the viability of a project before committing to financial close. We believe it now has a solid platform for sustainable growth as a result of de-risking existing and future projects in this way
Earnings Changes – We have revised the timing of some projects owing to COVID related delays and the rigorous company pipeline analysis. While our P&L earnings are reduced, the phasing of projects and associated milestone cash flows results in medium term cash upgrades, reflecting the strong working capital profile of the Group’s business model. We discuss earnings changes in more depth within the note.
Investment thesis and valuation – We set our new target price at 2.8p, in line with our DCF valuation but we anticipate further, considerable upside as execution is demonstrated and the Group leverages its unique technology and operational platform. The stock trades on 19.5x 2022 P/E and 11.4% FCF yield on our forecasts which compares very favourably to peer cleantech companies and the broader market considering the growth and returns on offer. Reiterate buy rating.
Buy
Target Price: 2.8p
EQT.L
Current Price: 2.0p
Nice one aandi, cricketman. All EQT need to do it is to add Hydrogen to their output capability. I say all and it is not going to be easy to do it very quickly given the rigour they have followed to reach where EQt are now. But even if they start making noises in that direction, that will get investor attention quicker and having that capability will be the cherry on the cake!
@aandi 11.06
It was also before this RNS -
EQTEC PLC - Nobilis of Greece MOU & growing ewerGy partnership
https://www.**********.co.uk/rns/announcement/6001c9a8-564c-45e3-a00b-65df6ccfef89