RE: Contract and update3 Sep 2019 18:06
So great news today, I'm very happy north fork has been signed. Just need to see it through financial close and get our first payment.
I'm unsure why we never found out where the first phoenix project was going to be but at least they gave us an update on it and we can look into NAPA now.
This part of that update sounded good.
EQTEC representatives met with the project owners, who are part of a consortium put together by, and including, Phoenix and it was indicated that the project will be financed by the consortium using their own financial resources and it is not expected that external investment will be required to achieve financial close; and
· The Company was also informed that this project is of significant strategic importance for the local government with regard to the elimination of waste as legislation was passed in 2019 banning the disposal of waste wood to landfill.
Using their own finances is a huge forward step for getting another contract across the line while also upsizing the plant size. But this seems madness as we have designed and invoiced for a smaller system?
Ebioss has and will be lingering around us for a while they have so many shares since the last update. After today and the last shareholder update they must be around the 250million mark still. We will prob see a big sell after hours but I dont care just want them gone. They've been pulling us back for too long now.
As mark said earlier this has hugely derisked eqtec now.