Member Info for Simms45

Two small but not inconsiderable additions. Firstly what is the valuation of the plant generating £1m of profit per annum. At a yield of 5% which is fair for urilities and where revenue is predictable that would be £20m. Even at a 10% yield valuation would be £10m. Therefore at 65% refinance we could share out £6.5m. more than enough to pay everyone off. The second small detail is that Eqtec has an option to buy others out of the project. I do not know the price but i would expect it to be favourable so what if Eqtec first uses its option to buy out other parties and simultaneously refinances allowing Eqtec to extract the maximum refinance and paying off partners and keeping a bigger stake in the project, Eqtec could play a blinder if they apply similar model to other projects allowing Eqtec options to cherry pick projects they want to hold by using the option and those they do not care for. The MDCs are key for sales so it makes sense to keep a big hand in these projects so they can ensure they convert investors and sales enquiries. I also wonder if the offtake agreements will be higher in the future as energy costs have rocketed so can only benefit future projects. Also how many companies globally would prefer to invest £3m or so in a system to power their plant or business and gain a competitive advantage both in terms of marketing but potentially lowering input costs to help keep down overheads. Start to do the maths and market size is vast and our £2bn pipeline is just the tip of the iceberg.

A long way to go but always better to move up slowly swapping out investors and building support. There is no reason for share to not continue up to 30p and beyond as within a month we will probably get 1 binding offer and possibly many for between $100m - $200m so just stands to reason we move onwards or one day we wake up to a monster rise, which would be nice but prefer to build towards that as it might open takeover offers. Board can always go it alone with financing still as gold is motoring past $1900 and we would make $900 on every ounze. On 100k ounzes thats $90m in a year profit! Shame we did not organise that toll all those years ago as would have been able to share out $100m profit between us in the meantime. Its time for Condor to get into second gear.

Welcome aboard FundamentalA you have bagged a spot at probably the best inflexion point and plenty of gains to be secured over short, medium and long term. I wish i had acted on my original spider senses that the pinch point was management team and how they could possibly service so many projects. Obviously they could not so they took big step to create global partership model and looks that we are at the start of the journey northwards back hopefully to 3p where we last reached a few years back anc help you snag a 10x.

News was only out this morning and you seem to always have the early morning buy and then a few traders and those who need cash sell on the news. The good news is the share price is holding well and to push on tomorrow as news is more widely shared and investors in Other green tech companies check the numbers and switch as we are at launch ready for take off now we have got the first of 100s of Eqtec plants live and can refinance and have a working operation to take investors around. There will be no investors or parties that will not be impressed and press the button once they see it in real life. Same for North Fork and why there is over 20 more projects about to bubble up in California. I think we will see that rise back to .5 this month as how can Eqtec have so little value given their world leading tech.

The sooner we re-rate back to 40p will actually help the sales process. We might get a direcd bid showing up but that can only happen if we get back to a place investors are happy to sell and where perhaps a 50% premium might be possible to sell to their shareholders. If we get back to 40p then a 60p offer might be a cleaner takeout than selling the asset, which has largely come about because the market not valuing Condor anywhere close to fair value. With an asset with a NPV of $400m we know the asset is worth a lot more than what the board are aiming for. $200m would be 50% of NPV so lesves something in for the next buyer. We should surely climb back to 40p as it could well bring an offer out of the woodworks, even a paper deal with a bigger player might be better as they could pay more. Also asset buyers will be more confortable parting with $150m if Condor was priced a little better. Surely investors are double taking when they see the value of Condor. Just hold your shares and wait for decent re-rate as we are still only just in first gear.

in fairness we were 32p before the board decided to change direction and sell the asset for now instead of going into production. We at least need to get back to 32p territory before we are back to where we should be. Certainly great news for recent investors but most shareholders have holdings well above this price and holding out to the asset is sold in the next month. It does not seem rocket science we will move up to 30p and wait for next news.

News finally filtering out from Times and other outlets but could be the easiest double bagger or more in less than a month and downsides are limited as we have invested close to £60m to get us to this key position over 12 years and we are worth only 50% of that. I think what is also important is that this could be strategic investment in country by China as most Chinese companies have links to government policy so at same time Nic government will sort any small details. If price is right i suspect, as condor said, they are confident of a deal which means price is well in correct band of $100m+. at these levels or more we are a triple bagger.

Interesting idea. Could just sell La India and keep Mestiza and Americas\Cacao and with cash proceeds build a mine. One other idea is why doesn’t someone try and crash the party and just offer 60p cash for Condor shares and derail the asset sale. Would still be cheaper than buying asset and get a plump vehicle with massive tax losses to use. Certainly feels to me that 30p is a holding price for now as asset offers could be a lot higher.

Important to remember that since last Dec we have had Altair selling around 600m of shares for one reason or another (most likely was to raise money so that it could then loan it back to Eqtec with the handy 600m warrants) That was one of key reasons for the price falling precipitously from .5p down to .25 and we can see that this selling has stopped. Therefore every reason we will find ourselves in a very quick recovery now we have a double whammy of first commercially operational and profitable Eqtec plant and Altair no longer selling so buying will take us back to where we were before and onwards. While things never happen in a straight line we will rise now to .5p i suspect with very little effort as there should be minimal sellers at these levels as i suspect most investors bought in above 1p and probably above 2p.

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In 2020 we went from .55 up to 3 in a matter of months on hope. Sadly many factors got in the way but the order book has just been pushed back and never stopped increasing. Eqtec are now delivering on their original plans and as long as they keep up with the massive demand their is no reason to expect considerable share price growth over coming months with steady newsflow and refinance completed of Italy. A very very low entry still possible today at .32. i am not even considering we are motoring until we pass 1p and onwards.

Condor looks to be almost certain to get a decent offer and in webinar yesterday MC says could be within a period of a month or even end of this month depending how you understand what he says. I am largely expecting share price to recover to 20-30p once the seller at 17p departs and await news as it could be worth 40-60p to shareholders or more once binding offers are released and competition increases. Once an asset has multiple offers often you also have others take a look as boards responsible for acquisitions must review Condor now or they are not doing their job and miss an opportunity. Will Rio Tinto be in the mix as they were always a likely contender back in the day. That would put biggest Chinese miner head to head.

Brilliant news that cannot be understated. It proves the first commercial delivery and operation of a Eqtec tech plant, it provides a showcase plant for investors and others to view and will catalyse investment and delivey of the pipeline. Finally they are close to refinance so that should generate a very decent amount of cash for business operation. I think today marks the start of the BIG re-rate over next 3-6 months. Can we get back to 2-3p in that period i do not see any reason not to as long as we continue to deliver project updates and with refinance minimise or remove the need for dilution. A very happpy day for Eqtec investors and cannot play down the importance of proving the forst commercially operating Eqtec plant for everyone to see that Eqtec can achieve the holy grail where so many have failed over the last 20 years. Gla

Sounds like you know ypur stuff SB_1964 and bow down your knowledge and lets hope CP is close to being completed as Harry has mentioned before as banks are putting in most of the money they call thr shots. For me credit sign off is as good as financial closure as the rest just seems it will all fall in behind.

I was being specific. I am less concerned with signing papers and more concerned that we get to credit that could happen at anytime once the EG have sorted what they needed to do and finalise a definitive agreement that all lawyers are happy with, again something that might happen soon. Credit will probably take a month but we know that if we get to credit its largely a rubber stamp exercise as it has EG blessing and the bank is part owned by government. Therefore while we can postulate about dates for signing i am more interested in credit sign off as that would largely cement the project. The investors have been on board and will stay on board because its the only way they can get funds out of the country tax efficiently by investing in this project and then take out their returns internationally or thereabouts. Would be nice for an update to confirm next step as it should move us up nicely and away from current treading of water.

Thats a big deal. They are massive so this is pocket money for them and if they met government its job done really. What more due diligence do you need. I think price is not even an issue as the asset will return huge wealth to whoever gets to mine it. Shame its not Condor but i think its clear why board are confident. Wonder who the othet bidders will be as it would be nice to see $150m which compares favourably to $30m today. Looks like a long way to climb.

MetalNRG alluded to performance data for Italy could be released mid March onwards. It is completely expected that a project will take several months when starting up to deal with all the snagging issues but MetalNRG said it was plugged into grid and generating income so i expect Eqtec to update when that snagging list is sorted and any supply issues are resolved. There could be so many other developments happening as we speak so i am expecting a number of RNS over the coming weeks. When Eqtec moves it will move very quickly. If we crack Italy then there is really unlimited projects in the pipeline to close.

We have now had EG support the project announced almost 3-4 weeks so if they have resolved the final small details as the MOM put it then we should be about to go to credit for sign off. Also if the London meetings went well then i have a feeling an update is due this week or next, presumably if something tangible has happened. I think a bit early to call the EGM for financial close but an RNS that we are finally in credit and definitive agreements are out for signature will move us strongly forward. Gla

Also a 250k sell from the morning finally got filled so looking a lot more perky on the upside. gla

Condors numbers were very compelling in that in a average case scenario presented just for La India the debt Condor would have taken on to build mine would have been paid back within 12 months of production. When you add in Mestiza and America even quicker. Therefore any miner looking for quick return of investment and ability to invest £100m for asset and £100m for capex would see that all returned in 2 years from production and keep the mine for free. Need to remember we have over 2m ounzes of gold and so many targets we easily have a 10m ounze district so even lowball offers of £100m will be massively repaid and very quickly. Its almost a free mine for an investor and why i always wanted Condor to go all the way as the numbers are so attractive and dividends would have been rewarding. Need to remember Shanta see themselves massively undervalued and management were not interested but had to go through motions if just to tell market to better value the business. For the interested parties they had little chance and largely walked away as the buy price was multiples of the current market cap. With Condor its a golden one off as if price is right its a deal with a ready to roll project in a very gold mining friendly territory. I wonder if binding offers will be announced as they arrive or if Condor will wait for best binding offers before deciding who to sell to? if the former binding offers might even start to come in as a early bidder might warn off other bidders with a early knockout price.