From ADVFN BB:17 Jun 2020 11:22
Worth repeating this post (legend IMO)...
The Analyst kindly allowed me to copy and paste this corker of a post: (from mid May)
˜For those who cannot see it
1. David Palumbo is the Managing Partner of Origen Capital.
2. David Palumbo, first moved onto the board when Origen were financing Ian Prices EQT & wanted their man on the board.
3. Origin introduced Altair to this company. Altair know David Palumbo very weI'll.
4. Altair are fully behind this, having staked just shy of the magic 30% in Equity.
5. David has spoke about the Riverfort financing due soon, specifically around an SPV rolling up to the EQT head company (any guesses who will be throwing cash in here without increasing their 30%)
6. Once the financing is sorted, all investors will be strategic. There will be no one there who doesn't want to be, therefore no major sellers
7. EQT are at financial close stage of another project (Greece). They are also working closely & approaching final stages of others (rhymed off by David on the call)
8. In bed with massive multi nationals
9. On the call, reading between the lines, David most definitely said of course they would be interested in a takeover, but not at these ridiculously low levels.
10. David has a background in project financing
11. David just issues warrants to him & all the staff at 0.25 redemption.
Let's join the dots then....
David (via Origen) has skin in the game. David via the warrants has skin in the game. Davids buddies (Altair) have skin in the game.
David has a tremendous relationship with partner COBRA. EQT is small fry to them, but their tech would be a very welcome addition.
David has a value where him, his mates & existing shareholders can sell this on to someone else where everyone makes bucket loads.
Old none strategic investors are finishing their exit, all aboard new guys.
Project pipeline will be executed
This will hit the magic price where everyone will be happy to sell (possibly to COBRA)
Only question is the price. David laughed at these levels.
Given his comments on the MCAP I see him valuing it at 100-150m......
Thoughts people?"
I would settle for 100-150m but still feel the potential to be a billion mcap is real.
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