Member Info for Simms45

If an all share bid is made for Condor once we get a firm bid for the asset then all warrants up to the buy out will be included in the sale price so no need to exercise them. We also have plenty of cash until the end of the year and probably more as we have limited overheads. Certainly there is little reason to exercise warrants above the prevailing share price but as we can see tiny buys and sells moves the price significantly. 27p seems very sticky as a lot of buying but 34p seemed to have some headwind. Could be a week away from the first binding offer in as MC said before summer than is the 21st June but we will get a binding offer i am sure very shortly.

For at least one of the offers to involve an Investment banks that will cost many £100ks just as a starter so they would not start that process unless the offer they made was acceptable to Condor. We need to wait until that offer is presented to the market before additional bidders decide to enter or not. it all depends at what end of the scale the offer will be and that will determine if anyone else enters the bidding. My expectation as the bidder is to make a decent offer with a 30 day agreement so other bidders might not decide to enter through lack of time or that the bid was fair. if it is low then someone else will offer a higher bid. We will see but we are entering the key month of June and that is summer and MC was confident the binding offer would be presented in his tweets and language throughout the process.

Great find on North fork update. This is the biggie and opens the California market with 12 more projects in the pipeline. Seems the project is literally waiting to be switched on so hopefully in next month or so things will look a whole lot different and our 29% might be worth around $6m based on the $20m valuation on completion. Personally seems quite low valuation so that could be a very useful addition to the equity as today we have nothing in the accounts for North Fork. Plenty of news to come in over coming months and hopefully next week!

While very little news has been released i am still unsure of the news that led to the doubling in the share price a month back. There has been no news i am aware of. surely when a share price doubles the company should be available to provide some news as it did not happen by mistake. The key at the moment is that the trend is positive and we are about to hit the recent high of .189. Would like to see us back to .45. We just need some have decent news as we stand at sub £10m valuation and that is still very low and to my knowledge CNEL were booming from the end of 2022 so 2023 should be a good year and back to profitability.

I think the bidders are simply aware that the longer they take to strike it might help their bargaining position. We were 34p and now 29p so already the sentiment will be helping the bidders in a game of minds as JM might lower his exit but we have plenty of time. The bidders will strike as we know one has already got the Investment banks involved and that will take a few months to get into a formal position but no one pays lots of cash for investment bankers if they are not going to make a binding bid or their management would need to go. these bidders have cash in the bank that needs a home fast before inflation eats it away. Condor offers a billion dollar profit over next 10 years . Therefore if investors want to get this over the line they should be backing the share price. The issue with the Condor shareprice is a tiny £5k sell can move the shareprice by a 1p so its totally daft how the MMs operate without a decent float. As i have said before the best outcome for maximising value for shareholders is a JV where an investor injects the $100m cash as a loan to build the mine, take 30% of company as a bonus, and then we all make a good return over next couple of years and then sell the mine when we have 150k ounces a year and $300m valuation. Time to get behind the management as really the biggest reason for Condor lack of action has been the lackluster shareprice. obviously the management are calpable for lack of speed to deliver but if management and shareholders all work together we will stand in a good place. gla but next week i smell an RNS after the bank holiday weekend!

What we know is that the last RNS was on 27th April with the signing of the final umbrella agreement. Since then we have had radio silence that in these situations is good as it means we are on track so we should expect some RNS shortly to cover off the pre-requisites for the AGM to be called to raise the shareprice towards warrant price. The majority of these were procedural and we had several comments that the EG are resolving these. It would make sense to get something out next week to start the ball rolling. Next week i really expect some update to happen so the momentum can properly build towards credit and debt finance sign off.

With a bank holiday and 21 day notice required if Harry is going to keep his June promise then the latest to hit that date would be the 8th June but you would expect to hear other news in advance that might include credit approval and final points required by EG so looks quite a busy first week of June for news but next week would be preferable!

I thought presentation was excellent and there was plenty he was hinting at so expect binding offer anytime soon. Also excelleent bidding war is still in with 4 non binders and now further companies looking in. Just a mattter of time but frankly would like to see us go to production but each to their own. Gla in final weeks before we the bidding starts in earnest.

Its all relative and the key point is that Calibre now have a lot more fire power to make a higher bid. For me personally i would like Condor to find a JV in this process and go into production and allow all shareholders to benefit from the billions of profit. Selling for $150m is a dissapointing end to what have been over a billion in clear profits over a decade returned to shareholders and mine worth $400m to be sold on. Gla.

Good to see Condor tickling 31p again but we are a long way from 40p that i feel is the place we need to be to give everyone a chance of an agreed exit above 60p. We need some positive update on non binding offers or ultimately binding offers and both cant be long away. Calibre now 3x up while in same time we are only 2x up so now a bigger discount to comparables. On flip side we are now a bigger bargain for gold producers.

VisitingH when has Eqtec ever been £1? We can only dream. Do you mean 1p as that might make sense. Glad you did not invest at £1 so have a think again at .2p as you might be surprised as if you look forward almost all projects are written off based on valuation so almost any news on forward monentum will be positive. Gla but who knows if tomorrow we might get news and sentiment will change.

If we were a £200m market cap company with £40m of net assets and missed targets i would be negative and felt we were overvalued but we are worth a 1/10th of that at £20m with double our market cap in net assets alone and bear in mind plants like Italy are booked at cost so these will rise substantially once valuation by bank is in. Then you have 12 other major projects in different states but none requiring capital from Eqtec and North Fork due for completion in summer with tentative valuation of plant at $20m and Phoenix have 10-13 more of these projects lined up once this is built. We just got £1m grant from French government to pay salaries. Its all a question of valuation but £20m seems undervalued on all metrics and really it is just a waiting game for valuation to rise back to £100m this year that seems almost conservative.

What we know as fact is a Italian bank has visited the plant in its operational state and completed its due diligence on profitability of the plant. The profitability is relatively easy to work as not only do we have a preferential rate on how much we sell the electricity and biochar but we also have minimal costs on inputs as we need only 7500 tons of wood chip from local sources a year. The last RNS stated refinance in Q2 and we are now midway through. Therefore the refinance is likely with credit at the bank. Certainly the RNS stating we have served our options to buy put partners to max refinance and stating local team taken over fully is due. We can only work off what the RNS states. However this week Eqtec does need to release some news as we have had a period now when so many projects are in motion and something should drop.

Last update on bidding process was March 13th so we are now 2 months forward so you would think one of those bidders would break for it and make a dash for the finish line. Since March 13th everything has also improved geopolitically, economically and financially in Nic so everything in Condor's favour and assets like this will probably not come up again for a long time ready to go into development and cash in the billions over the next decade.

Maybe one day when the money lands he will change his catchphrase and would like to think makes a few quid as for someone who has watched Kefi for longer than most he might have a sixth sense by now when the money is going to land. Keep us posted manu :)

The recent webinar was very positive on Italy and we are generating power to the grid already according to MNRG. Clearly there are always snagging issues with such a large project that need to be worked through but we would not be taking around potential clients if it was not working. the oppositive is the case with the company very confidently using it for sales and partners. i am expecting a slew of positive update RNSs across a whole range of projects and hopefully one of those will be related to Italy. Obviously you decide if the risk/reward is appropriate and buy or not but you need to consider whether Eqtec with all its technology and sales is worth £20m today or not. Personally i think the risk reward is very favourable especially when you compare to many other Cleantech companies that are valued considerably higher and a lot lot further behind on all metrics. gla and next week i have a feeling at least one RNS will come out of the woodwork.

I have feeling next week we will get some RNS. In last webinar plenty of hints so could be a stellar few weeks.

Would ge great if we get an RNS next week with a binding offer or an update but all looks to be coming together in line with sorted by summer MC mentioned.

MC was keen and confident something would happen before summer. That is technically June 21st and if correct that MC is out in Nicaragua then it can only be to work towards binding offers, although it could be new buyers entering the bidding process. Within a month and i would hope in next few weeks we might get the first binding offer OTL and then expect counter offers. I agree buyers might not want to break cover first but if more bidders enter ring then there is also benefits to striking earlier, perhaps with the JM nod of approval so new bidders would need to react quickly. I am sure a buyer would offer a short window for bid to be concluded.

Silence is a good thing as it means the 4 bidders are moving to binding offers and we should expect shortly to see the result of that. The downside is that with share price at 30p this is not exactly helping MC talk up value of company for takeover as i think we have a good idea of the takeout price but we are some way off. Perfect storm is cash offer and then a share and cash takeover at a premium to the cash offer for the asset. Key is lining up ducks but $2k gold is here to stay and with another bank wobble will continue to climb.