focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
To date it seems easier to make the negative case. Mostly this is due to debt, dilution and deadlines missed.
The positive case (below) is currently less tangible. In (my) order of "tangibility".
1. Italia MDC - working manually, we are told but not yet under auto-control.
2. Croatia MDC - some components manufactured, but not yet fully financed.
3. North Fork MDC - progress resumed, but uncertainty over Eqtec equity after bankruptcy filing.
4. Greece MDC - quiet since 2021
5. France - good tie up with University and positive governmental environment.
This is mainly from memory, so if anyone wishes to correct detail, happy to hear it.
Whilst Eqtec apparently have reined in costs, it seems to me it is still a struggle between cash flow (to put it mildly) and converting (even one) of the small MDCs to regain credibility. Cheers. MU.
AS, this is from the half year report in Sep 22.
"The listing of PBX on AQSE means that PBX is now considered an associate for accounting purposes with its revenues and costs removed post listing and only OptiBiotix's (44%) proportion of its profit and loss included in the Company's accounts. This makes year on year comparisons challenging."
I am definitely not an accountant, so am unclear what this will mean for FY. Prelims or otherwise.
I presume (hope) so too. Preliminary (unaudited) figures last year were released on 28th Feb. Revenues were £2.2m. About half and half for pre-and probiotix. We know prebiotix bombed in H1.
Extract from last Feb
"Total invoiced sales for the Group were £2.2m (2020: £1.5m) an increase of 46.7% on the previous year..."
Accounting might be "messy" with Probiotix separation.
ErsteSahne (1st cream?), the problem for "investors" like me is that, I like the idea behind the company, but I don't really know much detail about how the tech works and how long it takes to complete stages on the way to successful completion. So I would prefer regular communication from the company. Especially around the Italia MDC, as this is absolutely key to selling Eqtec to prospective, large scale funders. Viel Glück.
Perhaps disappointingly then, this was from update on 9th Feb 22 (almost a year to the date) :
"Investor update: The Company has increased its investor activity with the re-engagement of Proactive Investors, the continued use of the Investor Meet Company for more substantive news, and positive features in The Daily Mail and This is Money."
Good posts below. I do wonder if it would be better for Eqtec to make less optimistic forecasts, given recent history of delays and difficulty in accessing finance. At least until projects start delivering. Not least because Eqtec is reliant on partners whose priorities may not be the same as theirs.
Re Italia MDC from RNS
"In mid-January 2023, the Company and plant operations team ran the full gasification process on manual controls and is now setting it up for automatic mode. As part of its tests, the Company also produced biochar from the plant."
Shares now in my IWEB (Halifax) account. Not tradeable.
Do I need an RNS to tell me Italia MDC is up and running: yes, please JVL!! However, I do take the point, that it would be good to have some data on performance to go with it. So a balance. But as this is an absolutely key milestone in Eqt's history, I do think an update is due.
I agree Eqt has great potential. But so many possible projects or TOO many? I am concerned at lack of recent revenue and where immediate finance will come from. I do remain hopeful but...
Time for a different song! To the tune of O sole mio (or if you are old enough, the cornetto advert).
Just one MDC
Give it to me
Delicious gasification
From EQT
And with some help from COSMI
Just finish the project
In Italy
Thanks for sharing. Had missed this. (3 weeks past).