Member Info for Simms45

Https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0829/2023082901535.pdf

generally speaking the results do not really tell us much about future prospects only that the 6 months up to 31st June were lacklustre but they signed 16 contracts. They are still owed quite a lot of money so they need to be working hard to collect that but we have net assets of £18m or so and that is double market cap today. obviously without sharing news on value of any future contracts signed and any indication of future revenue it is hard to know whether they have turned the corner. When they release the final results PDF to investors this sometimes has more information but is a shame they are not divulging anything for investors to have more confidence in the business going forward, although i sense things are improving but key really is that company has reasonable cash and assets and working capital and really they need to secure some decent contracts and promote heavily their test projects to build their investor footprint. Sadly we know the score and they appear unable to do that but at least there is no delay to the accounts and hope that we get some uplift as locals find out new contracts that we do not. i am still unsure why we doubled earlier in the year so if we get another day like that sometime over the next few months that would help put me back to breakeven.

Well 30 days has september so we need something in the next few weeks to keep momentum and timeline on track. Market clearly sees this as 0 chance but anecdotally Harry has been right so far with most of his timeline since April give or take. Really this should be a series of RNS over September with substantial binding news and further updates confirming action on the ground. I am hopeful we get some RNs this week to clarify exactly how close allowing share price to start to close the gap.

Well Harry has a webinar to deliver on the 8th of September so unless he wants to bore everyone to sleep really next week he needs to deliver some compelling news. certainly September is a very important month for Kefi as it determines a lot of things so i hope he can release that we have bank signoff for debt subject to investor binding deals or/and likewise investors have signed binding agreements subject to bank debt. Harry has said he has arrange the $20m equity with one investor and has not said anything to the contrary so there is some expectation that next weeks we get some news. We certainly cant go lower than the current market cap and i am surprised Saudi news has been super quiet as that is being pushed at speed by Artar so they are not messing around and looking to get into production asap. Kefi will need to keep up with them and why TK is so instrumental. Sort TK and Saudi will be worth $100m alone but today is valued at 0. Come on Harry make next week one to remember.

The bod know a lot more than we do about the sales process so would you post these messages if you did not know that a deal was close. i do not know why the deal is taking so long to get to binding but early September is a great opportunity to announcement something. if something is happening the board needs to close this down and secure the binding offer. i suggest within 2-3 weeks we should get the first binding offer. Really 8 months should be enough.

I think the market has taken the profit warning almost positively as today volume was mostly buys but the current market cap is so low that really any positive news they might want to share would have a bug upward impact. Certainly CNEL need to give a forward guidance as obviously things need to turn around but we accumulated high levels of profits in the past and as long we we continue to get payment for past work we should keep the cashflow looking positive. Just disappointing this is probably going back in the bottom draw for another 6 months and hope in the meantime the board can focus on communicating with shareholders and customers.

What is so frustrating is the lack of update on anything. How on earth they plan to grow operating as a hermit company is hard to fathom. Looks a £1.6m loss so not terrible but not good given i think Richard B said business was good since New Year. Key is in detail and whether the bod are playing with a straight bat as they are not trustworthy but hopefully NEDs are keeping a close eye but they have good tech but sadly not sharing or capitalising on that. I think market cap is so low that this will not have any impact but could be another 6 months before we learn anything.

As long as the tech is proven (it is with Italy MDC), and that we have increasing revenue and cashflow (looks good to me but we come from a low base but £40m i next 18 months looks doable), that we have sustainable cost model (move to selling IP and not getting involved with capex fixes that ) and a market to sell into (well incineration is over and really alternative waste to energy projects dont come better than Eqtec) so overall regardless of the sad share price i am very happy to back eqtec. I am not entirely comfortable with Altair and who is selling at huge losses at current share price and Italy refinance is not done but then again North Fork is imminent and so many other projects so much to my annoyance this investment might take a few more years to recover itself back to 1-2p but i am patient.

All eyes will be on interims due 29th August as last 6 months really nothing had been shared but anecdotal that business was busy and so forth. Really quite bad given plenty must be going on that could and should be shared. Shareprice has jumped a little today so it might bode well in leadup to results next week as i am sure locals know a lot more than anyone else. Lets hope contracts and progress achieved and market cap today is bonkers at £9m or so if cnel have steadied the ship and made a profit we should see a decent re-rate.

Up we go again. Hopefully we hold this time and push onto 30p. A TSX player is waiting to probably make a bid but we need to be nearer 40p so suitor can sell in a 50% premium to shareholders as today a 100% premium is possibly hard to sell. Anyway the only people who can buy shares are those not under NDA or those that do not have any additional info not in public domain. However even if a buyer wanted £500k shares to take a 1% stake they would move the dial to 50p i suspect in their effort. Shares are tightly held so really no one can build a meaningful stake, unless they already have one. We sold a boatload to FM a while back at 50p so they may want to finish the deal and make a 50p offer. we are still in August so i suspect any offers will come early September. Lets see but all to play for as we go into the final rounds of bidding to see who might walk away with the prize. Will it be china or someone else?

The bank debt comes later and investors money will need to be injected prior. Therefore the bank should sign off credit subject to investors injecting money. The investors will only inject the cash when the bank has confirmed the debt.

As i said each to their own and as you clearly say you have your own motives. If you estimate financial closure end of September i would be ecstatic. I just want to get credit approval so the rest of theinvestors can approve their funding into the deal.

Fantasy i was only questioning if Aj is invested as he has only commented on Kefi and no other company. I am happy with all comments whether pro of con as there is at least some sentiment analysis from this. I am curious about ajs though? Are you not also as you must admit there is probably an interesting backstory why this profile only posts on Kefi but each to their own and we just need to see how the credit committee goes as that is key to all of this and presumably the EG have a big hand to play when that will be announced. This is a not a standard debt financing so i suspect we will get credit approval once the EG have covered all bases. We will see as an update will be due if nothing happens in mext 2-4 weeks. The webinar on 6th September with wider investor community will be interesting if he has nothing more to add. My instinct is prior to this webinar something will be announced.

Ajs your profile has only talked about Kefi so i guess you only have this company in your portfolio as i cant understand how anyone would spend day after day commenting on comments if they are not invested? Would love to hear the backstory of why you are here? As to credit i can only go on what is said in the RNS and since the EG are a 20% shareholder in Kefi (thats real) and also the banks main shareholder you can probably understand that the bank lending is largely already agreed and the EG are a major stakeholder and a key stakeholder in decisionz. Its probably not the most straghtforward debt structure but we are in credit and we will see by early September what is happening but i certainly hope for a proper update and hopefully a sign off by then.

August is generally a slow one for M&A but you never know but early September would be optimum to announce something so we have completion or some way forward before christmas. Increasing cash balances at gold miners are ballooning so they need to deploy so i think a deal is very likely given the upside for the acquirer as they will be looking at a mine with probably 60 years of gold to dig up from the district. buyers understand the potential.

I am expecting some positive update by end of month or early September as it is going to be tight based on the timeline that has been largely on track since April. everything seems on track but we need to get the credit approval completed subject to any conditions they might have just to get the investors to sign. Most companies in Ethiopia cannot repatriate cash abroad so Kefi will be first revolving door allowing companies in ethiopia ability to invest but can payments back go their international companies. I am not concerned on investors as we now have all those banking issues resolved. Key now is credit sign off and really given this was approved on principle this should be due shortly or Harry needs to explain what is holding it up. Credit should take some months given magnitude of project but they also know the timeline so lets see what the next few weeks bring.

As per last RNS :

“ As anticipated, the Company has completed its submissions for final formal approvals of the already established financing terms from the two lead banks within the funding syndicate”

So afraid to dissapoint but we are waiting on credit. If you think Harry is making it all up please take it up with the Nomad and the EG if you need any help.

I agree its just a waiting game but when that momentum starts a lot of people will want to get it on the rise. What i think we appear to have is perhaps Altair or someone else selling at a huge loss into these rises and once they are gone this will quickly step up. what is good about this deal is this is £440k for labour so this covers all salaries. We also get £500k cash. We are also waiting on refinance in Italy that could be £1m+ and north Fork launch in September with refinance probably in 2024 with £3-4m at least from that. Therefore we have plenty of chunky sums of money that can be extracted over the next 6-12 months and like i have said before if the cash raise is all going into high return projects that is good for investors. if the placing is for working capital not ideal. We also have many other projects bubbling along with around 13+ that could drop over next 6 months and all will be cash loaded as Eqtec are no longer investing and they will not need to as we will have our 3 MDCs operating proving the tech and really the scale of Eqtec using this new model could be enormous. think of how ARM do not sell anything but just the IP and engineering expertise and that proves that a similar model at Eqtec could work to unlocks 100s of gasification plants across the world far quicker than building one at a time. Because their plants are so modular we can provide companies energy security right up to major waste projects. The more positive RNS the sooner we clear the deadwood and make decent strides as it is ridiculous that we are worth £20m given the future trajectory of high value IP licensing and high value engineering services that is money for old rope.

All RNSs are checked for accuracy so we know as fact that the financing is with credit for signoff. We know they have already agreed in principle. We also know that all equity is covered by the syndicate of investors and that investors have signed 2 umbrella agreements and have final drafts (within reason) for signing. We are in the best place possible. Anything else including Harrys rose tinted sunglasses are nonsense but he is a CEO who is very positive and needs to keep momentum. If you look back at the carcrash of events to be where we are now and not a folded entity is miraculous. Compared to last 3 years we are in the final weeks/month before we get the debt signoff and investor signatures. To think we are a £28m market cap company about to secure $320m finance package is crazy and we have an almost guarantee saudi will happen as Artan are massive with all the right connections and cash. This is a story in 3 years people will look back on and say how was Kefi worth so little so close to transformation?

Idex are huge and we could have a dozens of projects in play over next few years. Huge growth ahead for Eqtec.

“ Idex is willing to grow its footprint in this domain and has selected EQTEC technology to do so. ”

If you read up since the 200 political prisoners released in February the US has steadied rhetotic and in light of China moving in are relooking at how to maintain relations. I think if your risk averse to sell but when binding offer transpires you might well have handed a large windfall to the next man but everyone has their own strategy. You either believe in the board that a binding offer will happen or not. Obviously if you have invested in Condor for sometime it seems a little odd exit when you would have probably done far better to havr fully exited a long time ago. Obviously we are where we are and i have full confidence a binding offer is coming as explained by MC and i will continue to invest in Condor. Gla