Member Info for Simms45

Results are up to 31st December. On top of £1.6m in cash at eoy we just raised £3.5m and have 12m of mostly undrawn loan facilities. We have plenty of powder for the year ahead to crack on and deliver. With market cap £22m and barely 50% of out net assets (all at book value and not real valuation) this is serious value stock territory. Revenue will rise substantially this year. Onwards and upwards.

Revenues 8m are solid for 2022, taken the hit for North Fork but we are still 40m net assets and we trade 50% below this with over £1.6m at eoy before raise so plenty of cash while we await Italy refinance etc. Clear plan of action and looks like a new company is about to scale up using their new strategy. plenty to be positive about today.

Maybe third time lucky we will push to 40p and create a new base as i think the low share price is still hampering potential all share offers as i suspect minimum will be 60p so 50% premium. POG must be helping things close as the valuation must be ballooning making an offer like $120m a massive discount to NPV. Easy to sell to shareholders as an acquirer that they are buying a $600m NPV company at $2000 POG for 20% of that.

I recommend anyone to write to Ivy and request why the board made a decision to buy back 20% of shares but 5 months later have not done anything. We trade way below nav so its considerably improves shareholder value. Even a $1m buy back at current levels will make a considerable improvement to earnings per share. they said they would so why have they not done it yet?

For me tomorrow will not look pretty on base numbers but the future will look incredible and suspect share price to bounce and especially after a proactive interview. I am expecting DP and team to come out with a big push but shame they did not have any news this week but perhaps holding back until after results and coronation. The company is so undervalued on almost all metrics based on next 12 months.

Share price as expected turned a corner and now heading back up with steady stream of buys. Time to head for 40 in readiness for bidding battle.

US mid cap bank collapses are in motion and gold could well go hyperbole. Condor sitting in a dream ticket for someone else. would love them to just crack on and build and maximise value but if they sell we want a decent price. Gold could easily break into much higher territory and why China has been so active on building its gold reserves.

I can see someone sold a £20k slice and that does not sound much but on low volume days it can cause a big drop in shareprice of Condor and from observation MMs take advantage of that momentum and trigger stop losses. Ticked up end of day and suspect we will rise back tomorrow; assuming the seller does not return. Great entry again at just over 30p and we know pretty much we have 4 non binding bids and a binding bid in the process of being put together so just a waiting game. All bidders know the take out price so you would not employ investment bank services until you got the nod from Big Jim. Could be anytime but MC alluded before summer. Well sun is shining so not much longer to wait.

Almost no volume today so MMs are playing games, perhaps closing out cfds and stop losses and making off with the shares. Big rise coming i suspect and MMs might have got wind so filling boots before news drops.

This will explain drag on share price but great news we shifted 3.5% of company into pi hands. I suspect Rab might be selling in advance of warrants but at same time you would think they are selling at a odd moment but a lot of their shares were from .7 days so they cleared a profit. Onwards i hope at a little more speed.

Calibre are on fire now over £450m sterling market cap and heading northwards along with other gold miners. Makes an offer from a TSX miner a lot easier as many have doubled and Calibre now tripled. Condor having only doubled are 30% cheaper relative than peers. All looking very good for Condor.

Where Harry has had control he has delivered on time since first umbrella signed back on June. He was dealing with a MOM who clearly was up to tricks and Harry did not buckle and instead Tukele was removed for corruption. Go figure what was really going on. Since then Harry has delivered and we stand to close in June with further updates this month. We are still waiting on EG for sign off but we can hope the new MOM is a straight batter. Very close now but all eyes on whether we get the all clear from EG as that is key as it ensures we clear credit. Could be the month that changes everything.

Market cap of Eqtec is just over £21m so the results due friday can only take us northwards. We have over 200 sales opportunities promoted in recent side deck and that is tip of the ice berg. The number of potential projects are in the many 1000s over coming decade. With the model evolved to licensing and cash up front and projects live now allowing live demonstration the floodgates of projects will start in earnest. We should be a £250m market cap company if not for some poor financial management but that is behind us and when Italy is refinanced, when North Fork is live later this year and when news updates on France and UK projects i suspect £250m will not be out of the question over next few years. Friday should be the opportunity for DP and team and set out a credible plan and deliver.

Take your shovel and couple of ounzes later will have paid for your trip. As a shareholder i dont see any problem with that as locals been at it for years. Shame MC did not just pay for some locals to split the profits and we might have weather the dilution.

I suspect we will get an all share offer on the table quite soon when we reach 40p+ to make 50% premium a crowd pleaser but we wait in the meantime. The project is no brainer for a gold miner with cash looking to extract billions of profit over next decade. Miners in Nic, regardless of what shenanigans have happened for last decade have boomed and not been impacted by Covid or Civil unrest so reality is Nic is probably a much safer juristiction for mining than others. Personally i do not buy the discount is down to Nic politics as Calibre is booming. I feel Condor should have gone all in on TSX listing and dropped UK as even with all the mining conferences MC spoke at the UK investor base was tiny and Canada is much larger but we have 0 liquidity. However when it comes to takeover its possible the TSX listing will help?

Harry has delivered on all his timeline for last 9 months. Its a huge change for the company and we look about to close finance finally. Over next 2-4 weeks we should get update on EG clearance agreed in umbrella and move Kefi to final credit for closure in June. We should also expect all parties to sigh definitive agreements based on the final umbrella. Could be a busy month for RNS as we ideally need to be around 3p on financial closure. However if you consider we will convert $95m. of sweat equity into equity as part of $320m finance and get over $10m back as well as $20m of warrants there is no way we will only be at 3p at that point as that is barely £70m, which is possibly the most ridiculous valuation for this company if all that happens. Valuation should comfortably be £150m and then £250m on Saudi close of JQ and upwards further on Hawiah and listing news on Saudi. This will explode past 3p with the right news over coming months. Gla

i have sent several emails over the years to Ivy with limited response. I did see this so apparently we might need to write to their place of business in HK. I am tempted to try that as while my questions are very valid i have rarely had a response.

"Putting Enquiries by Shareholders to the Board
Shareholders may at any time send written enquiries to the Company for
the attention of the joint company secretary at the Company’s principal
place of business in Hong Kong. The Company will not normally deal with
verbal or anonymous enquiries.

the 223 best seller is out for anyone who can wade through it. http://iis.aastocks.com/20230428/10715383-0.PDF

I skimmed the first 40 pages and copied a few bits that do differ slightly to the earlier version. They do not really give much away about the future but i hope the next update is more substantial and they do start the share buy back as they agreed to do recently but nothing has happened so far :

"It is expected that China’s economy will experience a steady trend of recovery in 2023. The “14th Five Year Plan” Biobased Economy Development Plan was issued by the National Development and Reform Department which will ushered in new opportunities for development of green and low-carbon technologies such as new biomass
energy and biochemistry. The current development prospects of the Company’s industry should be more optimistic than that in 2022.

It is expected that China’s economy will experiencea steady trend of recovery in 2023. The “14th Five Year Plan” Biobased
Economy Development Plan was issued by the National Development and Reform Department which will ushered in new opportunities for development of green and low-carbon technologies such as new biomass
energy and biochemistry. The current development prospects of the Company’s industry should be more optimistic than that in 2022.

The Company has been deeply engaged in the bioenergy industry for many years and has developed certain cellulosic ethanol production technical solutions which can provide the technology and equipment required for industrialisation. The Company will continue to optimise its cellulosic ethanol technology and
build demonstrative projects under the mature administrative policies and
market conditions.

. One of them is a major project of the Ministry of Science and Technology concerning the vehicle and jet fuel synthesized by hydrothermal depolymerization and carburizing of biomass (RD064). In 2022, the manufacture
of pilot plant was basically completed, and it is expected that all trials will be finished in this year. In turn, we will obtain important technical data and equipment manufacturing experience, laying a solid foundation for us to achieve vertical and in-depth development of ethanol intensive processing industry chain. Another one is a major science and technology project (RD061) in Guangdong Province, which is carried out by our project team in close collaboration with a project team organised by various universities. The design and manufacture for the equipment have been finished. Currently, the construction of plant is carried out according to the processing plan, and the entire trial is expected
to be completed within this year. This will help the Company to prepare for meeting the technological requirements of national carbon peak and carbon neutrality strategy for bioenergy and green chemical production."

Last RNS in October was clear and we will get an update on 5th May. I think the key to NorthFork was their plan to sell the tax credits and refinance once operational in Q3 so hopefully not much longer to wait to get this key project live and find out what equity we have. It should be pretty decent as the plant cant work without Eqtec so we have very strong leverage as they will want Eqtec at the heart of the project to make it a success.

With some positive news on May 5th i hope we can push back quickly to .5 and then move on to 1p later this year as i feel all the bad news has been baked in and the market cap is so low we are practically for free.

"North Fork Community Power, LLC ("NFCP") has entered into an agreement for a financial restructuring with the project lenders ("Lenders"), for the provision of a standby facility, in the amount of USD 4.3 million, towards full funding of the project up to the commercial operations date ("COD") of a plant, with EQTEC technology at its core, in North Fork California, USA (the "Plant").

The terms also specify that the Company will remain as an equity shareholder in NFCP with the final shareholding being determined during the legal process.

COD for the Plant is expected in Q3 2023 and the power purchase agreement ("PPA") has been extended accordingly. Once the Plant is fully operational, NFCP has a range of options for refinancing the Plant, including but not limited to sales of the tax credit, traditional asset finance by banks and public sector loans."

Steadily upwards towards 1.5p is what i expect over coming weeks as more people see the pontential 10x over next 2-3 years. This project has moved to a point that now seems to be box ticking towards June closure. May should update on definitive signing and credit sign off and EG last paper filing. Looking forward to bagging the 70-80% of a $320m project through our $95m of historical sweat equity ensuring minimal dilution except for warrants that are triggered at 1.6. with a market cap just over £40m this is literally 50% discount just on our equity into the project date. Not many times you have chance to get into a major gold producer of the future when an equivalent producing mine would trade easily at $400m just for TK. Throw in Saudi and a listing in Saudi arabia and within 5 years you could be looking a closer to a $1bn market cap company. Plenty must fall into place but TK is the fire starter that sets the whole train in motion. Total TK pay down is less than 2 years so by then we would he debt free with a minimum 200k ounces just for TK and 70-80.% ownership of largest Ethiopian export.