Member Info for Simms45

Personally glad to see only 1m shares taken up in the broker option so limits dilution and no overhang from any pi who might have considered selling and keeping warrants. Onwards and upwards next week now this is all out of the way and maybe eqtec work on delivering projects and value for pis than backroom deals with Altair. Everyone should be fully loaded so now it is time to make it happen.

Final umbrella due next week. Harry would normally leave to the last possible moment but you never know the silence last few weeks could be some hard graft to deliver early next week so we can push on to credit and definitive agreements. Could be next leg up as final umbrella should unlock timeline on that signing of definitive agreements and hopefully EG have pulled their weight as well.

Today the tiny market cap predicts bankruptcy but the key to the FY results will be forward guidance and any progress on a dozen or so projects. Even small news will lift eqtec significantly off the floor where we are valued about the same as a semi on mayfair. The mind boggles the upside but everyone from DP down to Altair has every reason to turbo charge the market cap over coming 6 months. See you at a penny in 4-6 months time.

We are back to where we were before Biden ruffled some feathers and in the meantime Calibre is now powering ahead. If anything we have not kept pace with the market in nicaragua so just on relative values we are very very cheap today. Calibre could pick us up bus fare at the current levels and barely 3 months of gold production at $2000 gold. Other miners must be thinking the same. 40p should have happened weeks ago and i think once we get closer a miner might pounce with a takeover. Will another suit beat the Chinese to the £2bn+ gold vault?

Wow if those signals were ever more than folklore stocks like Spirax would set you back a fair amount :) Lets hope Harry is polishing his next RNS and full steam towards final unbrella and credit and a plethora of news on progress in Saudi.

If you look at accumulated losses we stand at -£33m as on sept 2022 so maybe -£36m by now but this only looks at running losses as a lot of monet was put into investments like mill and land etc so be seen as an asset but valued at cost or depreciating asset in case of mill in shed. Easily £50m of shareholders cash to date so really just to break even, factoring in inflation etc we probably need £70m to break even but clearly not the greatest deployment of cash over a 12 year period. It is obvious whoever acquires Condor will reap the billions in profit over next decade and not us. All we can do today is load up on currrent shares and with the right wind could double that investment in the next month or so subject to binding offers.

i am hoping the likes of the two TSX listed entities are waiting for share price to strike 40p so they can table a 60p+ offer that might get the boards eyebrow raised and would also be sellable into their own shareholder base stating 65% discount to NAV and only a 50% premium etc. If we can get to 50p then we could look at 75p offers with a mix of paper and cash. However these offers will not come unless the shareprice gets a move on to 40p+ as today i think TSX listed companies would struggle to sell in 100% premiums to their shareholders. Howver we only need to get to 40p and bids likje this might start coming in to torpedo the Chinese asset deals as i cant imagine any Chinese company making a share offer as it would under UK securities scrutiny. Certainly feels 40p is very close now.

If we wanted any more confirmation of our leading global position in the gassification market look no further at how other major suppliers are partnering with Eqtec and including our tech in projects. The beauty now is Eqtec is along for ride with no upfront cost meaning that as energy providers evolve existing plants or create new ones we will be included. france is more than likely the same. There are literally 1000s of opportunities in Europe and Eqtec will be involved in many. This is small news given how much news we are expecting but will help clear the backlog of placing shares. There is still a chance to secure shares below the placing price for maybe for a few more days before we push up back to a penny over the coming year.

We need to factor in that most gold stocks since November have mostly doubled so in some ways we are just following the sector trend and in some ways the recent rise is not greatly connected to progress but really just keeping Kefi in the same relative position as other miners. The rise on the basis of closing TK finance i think is still to come. The good thing about the sector rise is we naturally have a far lower hurdle to get to 2.4p. Incidently in recent webinar i am sure Harry mentioned the banks are filling any gaps in finance as my understanding the EG validated our additional $10m of sweat equity so banks could lend more. Therefore its hard to know how important those warrants are for TK closure and could be just a bonus that could be used on Saudi along with $10m or so we will get back from TNKR (source i cant remember but has been discussed) so i think the real rise is all yet to come. We stand today at a tiny £32m market cap company which in the world in mining is tiny and there are plenty of mining stocks worth a lot more with nothing close to what Kefi has. Kefi has put in the 10 years of hard graft and close on $100m to get to this point and it is sure as hell worth a hell of a lot more than our current market cap. When the real news starts to come forward we will be a long ride up. would certainly be nice to get some update next week.

If you believe the news will come anytime soon we are cheap even at 2p at this stagr. If you believe TK is toast we are worth a bit less. You take your pick. if your un the former camp then it is really if we get news next week, next month or later in year. That is conundrum. Personally i am expecting some news in next few weeks to chip away at last remaining hurdles.

Well DP only last month updated on Deeside so i think it is not correct ascertion to write off the project and far from it as Toyota are key to funding the project as they agreed to buy the power. I think Eqtec sadly picked a bad partner in Logic and they are simply not helping and DP has said a number of times he is talking with majors so this and Southport could all come together at the same time now we have Italy live to prove tech. We will see but the point is a lot of projects all bubbling up and any one of them could change market sentiment and we are drowning in projects (a curse and a huge benefit) as we are not reliant on a single project like many other companies.

“The Company remains highly committed to the Deeside project, to supporting Toyota Motor Company and local communities in Flintshire with clean, decarbonised solutions for waste management and energy generation. We are working with Anaergia, Inc. as an important technology partner to bring the best possible technologies to the site. Funding the Project remains a primary focus and we believe that working with Logik and our other partners will help us achieve our objective. We look forward to updating the market as the Project develops“

Looks a pretty clear run now to 40p so maybe next week we can push on. To be in with a takeover offer that might succeed we need to be a lot higher on the share price but we have been steadily rising so when you consider MC reminding our NAV of $400m i think somewhere closer to 50% NAV is sellable to investors, especially when at $2040 an ouze you get all your money back in 12 months of production.

Results due in 6 working days so all will be revealed. While the deadline for broker options is next week you wonder if board will release some news next week or wait for results. We have £20m market cap with an incredible outcome from a sales perspective and plenty of cash for next 6 months and assuming we get the refinance on Italy and our option to but everyone else out to maximise the return just one project refinance could give us ample cash. As we unlock the vault of projects we will be able to acccess the cash through refinancing. Will we get an updare on Northfork as that was about to get resolved legally. I sense a lot of good news and cant actually think of much bad now the placing has happened and give us a 6 month runway without any other income, that we will get with over 13 projects. We dont even mention Billingham or Deeside but we might find a big partner about to strike. Interest rates are falling and expected to continue to decline so all the green funds with billions to invest will have to start thinking how to deploy that and hopefully Eqtec with one commercial project operational can now start to talk with bigger fish. Gla

I guess we will see shortly our Net Assets. The Italian project now it is live so should get revalued so it is not at cost on the books. Project should be worth 10m or so. That should be a decent uplift to assets. We added £3.5m from placing. The question mark will be what stake we will have in the $40m North Fork project once live but we will have a decent stake. Everything on the books will be at cost but every project that gets financed or goes live will boost assets so assets will keep on rising. I guess loans will rise a bit to counter that but its hard to imagine a scenario where asset valuations across the board will not start to rise.

To help reach 40p i suspect Condor would need to RNS 4 non binders but maybe since there further site visits holding back for 5 or 6. i am starting to think a takeover might be incoming and perhaps waiting for price to firm so the premium is easily sold into shareholders as there must be a number the board are willing to review and bidders will not want to waste time bidding below acceptable levels. For someone like FM who bought shares at 50p and have a hole in their future strategy this could be the project to recover their poor recent purchase. Looks like we are getting closer.

30p was always going to be some resistance and someone might be inclined to trim their position if they only bought at 15p and why not. I think that seller might have finished as we had decent volume today so the move towards 40p will probably push onwards into next week. for any bidder to even have a chance of selling the story to their shareholders and be acceptable to board maybe a 50% premium on 50p might come close so a bid around 75p might work. Anything below this will not fly with bod and will appear too costly if a bidder offer 75 or 100% over current price. Would be interesting if a bidder for the company makes a move soon as that would make more sense as it could upset a chinese asset purchase as i suspect chinese prefer to pay cash but TSX listed would like to pay in shares and cash.

If there was ever a backwind for everyone to pull together $2040 gold is a good place to be. Lets hope that final umbrella is weather tight and brings us to key moment where the timeline will be in Kefi control. For a company spanning 3 advanced gold and copper projects and closing in on $300m finance with our $80m equity already baked in sometimes you need to double take that we are only worth £30m, less than 50% of our equity controbution into the project finance? Something has got to give at some point.

The good news is results are due in 10 days so will help reset Eqtec and take stock of where we are. However the bottom line is we are a £22m market cap company with £43m of net assets and so many projects going through the process (a benefit and a curse). Even if we were £60m i would consider that we are well undervalued for the market position and projects in motion. We have totally overshot on the way down, we are held down until the placing clears and Altair and board will have completed their gouge of the company for cheap and then we will shoot back up as sentiment changes very quickly. Its not wishful thinking but really that when you look at the global picture and how Eqtec have a market leading position demonstrated by the massive sales interest that something will happen to our benefit, even if a company made an offer to take it forward. I would love to get in cheaper and i have been buying as much as i can from .19 upwards. i just can see the company coming out guns’a’blazing when results released and hit profitability towards the end of the year. As of today we have plenty of funds from placing to advance all projects, mixed with refinancing of Italy and equipment sales and grant money coming in to have a strong recovery. While we have had a rough period, to say the least, the worst is over and North Fork is the elephant in the room as it will open the US market which is many billions of dollars. When we get back over £100m market cap we will double take that we ever reached £20m at some point. If the partner model confirms we can deliver on a higher scale then we can look forward to very high returns.

For those who missed earlier here is link to webinar. Zurich one should be out tomorrow. https://www.youtube.com/live/mjvYX4fQo3I?feature=share

But for producers like FM, Calibre etc it gives them a log more fire power to up their offer as they are making better margins and could therefore borrow more on top. A high gold price will speed up binding offers and i have a feeling one might come a lot sooner than 4 weeks. MC knows his 4 offers and where they are so if he hints maybe a week it gives you a sense he is expecting one but might not know how soon, this also motivates tsx listed companies who might want to pay with paper now many companies have doubled, including Calibre he mentioned so you never know an opportunistic offer for whole company might get dropped. All i know is this will rise tomorrow. Certainly momentum of 4 serious bidders is a big difference to 2 or 3. Almost guaranteed one binding offer now and probably 4 or more in the end. Its a race between bidders who will get in first as their is a first mover advantage.