Member Info for Simms45

While Altair are nursing massive losses you would think they would be keen for Eqtec to operate with no further placings as it looks they needed to sell down their holding to ensure that should they need to trigger the warrants and/or loan conversion they would not be over the threshold for a takeover offer. This is basic stuff and they should have planned better, if that is the reason they needed to offload 600m shares quietly and with no notification. it must have been going on for sometime and more than 6 months probably and DP would have known this so while he was promoting Eqtec with one hand he was one of a handfull of people who knew Altair were offloading. Anyone buying between this time and now would have got burnt as i suspedct this was from .5 down to .25. While it is not his personal holding it is hardly at arms length. Anyway the upside is that anyone can buy in at .25 today, that is 50% discount on the last placing and i personally see a lot of upside coming this month and we can access cash from Italy and refinance of the Italian plant. With altair stopped selling if we managed to chew through 600m shares in the darkest hours then we can only climb upwards with a bit of positive news.

The more miners bidding on the asset the higher the price we will get for the asset. We just need more 2 or more and hopefully we will find a solution. There are very few high quality assets like this probably 12-18 months from production so given the glut of cash in mining companies and a sale price of $100-$200m that is a bargain to most. If the price is not right then i hope we find the partner and move on. as i have said even giving 40% equity away and getting a $100m loan that would be paid back in 12-18 months from cashflow is a great solution as it keeps Condor with 60% equity and upside in the project. The investor gets all their money back and 8% interest and then get 40% free equity to enjoy the dividends or sell off. The 40% equity would be worth $100m so effectively investor would be able to double their money in 30 months or less based on 18 month production and 12 months first year of production. Just need to crack on but great to know we have one serious contender and hopefully others will get involved.

Key to watch for is London meetings as that i understand is to iron out details hopefully for release of definitive agreements. The Mom meetings seem to have gone well so that side of the equation is in motion. I would not be surprised for a more robust RNS later this month as long as London is what is expected and in meantime EG sort out what they need to do. can never say when but certainly feels like we are progressing. However share price tells another story as we have been anchored around .75 for 6 months. for such a high reward project if it comes off i can only assume historic shares to pay some contractors in the past are still working their way through as always amazed there is sells at these levels when theoretically anyone selling is doing so at a loss, unless they were one of the very few who got some sub .6 but it was not so many. Big movements await but happy to be invested and wait this out. When i have looked at all my watchlist performance over last 18 months oddly Kefi has held up, which does not say much about or my watchlist.

I think if there was no interest by now Condor would know it and update shareholders surely? If we assume they would never have started this process without some interest and JM not wanting to destroy shareholder value, given he is in for close to 30% and shares are down over 50% from before the change of direction then we have to assume that 3 months of silence is not a bad thing, i hope. How long this goes on for is another matter as our mill and cleared site ready for construction will start to fall into disrepair and we have monthly outgoings regardless. We can hope that multiple parties have shown interest and perhaps to get these parties to raise their offers an RNS to that effect might help the matter. It helped Shanta Gold share price, although that did not lead to a sale but in this case the BOD have expressly gone out to market while Shanta were probably just trying to tell the market their shares were undervalued and if the share price does not rise then offers will continue. I think Shanta did well out of telling the market that there is a real value to their projects greatly in excess of the market cap and that helped. Lets see how this plays out.

Still shows net assets at £42m and all of those investments are at book value and not the market value and a lot of that is parked in projects like Italy, Croatia, Northfork Etc. Plenty of comfort that market cap is well below this and so much upside to come in time.Definitely next webinar we need to understand the conflict of interest between DP and Altair. Ultimately while his actions might be well meaning in that Altair cant go over a certain percent without triggering takeover he could have surely come up with a different strategy than dump 600m shares over a period of time tanking the share and effectively undermining staff awards that were at the peak of the company. Just feel something could have been done better about that but good volume today to allow some to exit and new investors so hopefully now Altair are out we can start to push back to .5 that seems around Net Asset value. I am expecting Italy news any day really but latest mid march when we get full idea of performance and revenue so presumably a months operation.

If you have not already happyInvestor you might want to watch the MetalNrg update yesterday who are a shareholder in the Italian plant. This along with Altair selling stop caused jump yesterday probably and today was some expectation Eqtec would update on Italy project to confirm what was said. The company will have decent revenue from Italian plant and Metalnrg explains refinance model so we should get our investment out while keeping our stake. That is probably the model to reinvest cash and refinance after each project goes live. There will be a good value increase in Italian project bow so we have created value but would be nice go get an RNS. Maybe tomorrow as makes sense to bury not so great news and now start to release real news that adds real value. https://youtu.be/rSZYEhKWdEY

Need to take into account that DP was quietly letting Altair sell 600m shares in the background that caused Eqtec to crater over the period of selling that was probably 6-12 months. Somehow while i know DP is only board member this sort of thing is material and not exactly at arms length. Key is Altair have stopped the fire sale and buying will now convert into upwards movement. Have been in several companies where someone quietly dumps vast amounts of stock and in all honesty absorbing 600m shares into pu hands is not an easy task. Hope DP is not going to profit from this and at next webinar explain his exact association with Altair as he needs to be transparent. Onwards and upwards. Metalnrg said performance update he was expecting mid march and added they are looking at several additional revenue streams including heat so Italy could be even better financially so for me this is proof in the pudding and then that pipeline of dreams can start to take shape.

As expected price drops early thanks in part go some serious trolling that probably allowed said trolls to collect stock st .23. Now rising back up go .26 and onwards. Once news settles in that Altair have stopped selling investors will quickly refocus back to Italy project and the fact that Deeside will get financed sometime in the next 3-6 months, maybe sooner as it is very progressed apart from that investor. Gla

If its true Altair have stopped selling then this explains the fall so long not understood. I agree DP should explain why his company have sold but i take this as great news because there is now no longer this seller forcing the price down. We should start the rise back to .5 and Deeside was not happening yet as it would be announced before. Rise yesterday was probably due to someone potentially knowing altair was finished selling. Deeside expectation was probably single digit chance but Deeside is looking far more likely uf Italy gets confirmed, albeit Metalnrg have said as much. could be a wobble and then a rise up to .5.

I think you will find Altair have stopped selling and why we have an RNS to confirm this and probably one of the reasons for the rise as for so long Altair have been a forced seller for whatever reason. DP should know and share the reason. We should be at net asset value or even close to a fair value and because of Altair sale we have been falling. Deeside was factored in and was pretty clear was not ready so while a shame it was not expected. Still waiting for the good news on Italy so perhaps this week further news will arrive. Not sure about anyone else but confirming the firesale was Altair is quite useful to know as i think nobody understood why someone was selling at such a big loss.

Well we seem to have had a long and painful headwind for 18 months and i notice we had a 24m sale at .2666 so it might be the overhang clearing and why we moved to .3 in the afternoon. It has seemed that someone has been having a painful firesale as no one selling at .266, just above the all time low, will be making profit. Certainly with news that might come tomorrow we could quickly pop back to .5 and then 1p but does require DP to deliver on the overdue projects and turn around the momentum. I am sure Wood or Petrofac investors would be very pleased with a 24% rise but frankly we need quite a few of those to get back to sensible numbers for this company.

in fairness the news is connected to Petrofac and Wood is it not? Pokerchips please place your bets please :)

Thats a great point that Eqtec walked away from original investor on Deeside, presumably due to a bigger fish funding multiple projects and great news on Italy. I notice a flurry of buys just on so we could be jumping up quickly over coming weeks as all this news starts to be confirmed. Deeside would be massive but i think its been too quiet or a very tight ship at Eqtec. We will see but i suspect positive developments.

I think in retrospect the asset sale route was probably always part of the plan and this is a professional process to flush out all potential interested parties at the same time and see if the price is right. If it is not, and given a lot has changed since the dark days of Sleepy Joe throwing in some instability, then i assume the market will support cracking on and there are big fish with big pots of money looking for a home. Obviously to not have offers would be incompetent to a very high degree but i cannot imagine anyone would have started this process without several weak enquiries coming in that needed to be firmed up professionally. The likes of Calibre, Rio and probably others are all picking over the project. I guess we will find out where things are in due course and hope we have several highly motivated buyers roughly around the numbers previously reported of $100m+ as that is triple bag todays market cap. Personally i hope for a white knight JV partner to come in with the cash, perhaps as a loan, take a decent stake in the company and crack on. This means the investor will get their money back at a decent interest rate witin 12 months of operation and then get the upside on the shares that can probably double their money. Nicaragua seems by glObal standards pretty stable for miners and Calibre etc are all making record profits so while the field might be less if some companies see Nic as too risky i would be surprised they are even a miner given the low hanging fruits are depleted and the best mines are those that have never been properly exploited due to historic instability. Fortune favours the brave.

As long as the dual listed share has good liquidity, ie Kefi does a raise when it joins Saudi it should all be very positive. If the Saudi investors move price up when London opens to move up as well as arbitrage investors who buy and sell or both exchanges buy and sell stock and pocket any arbitrade profits. Kefi if it listed on Saudi would be massively undervalued against comparables and rise accordingly. This is why if we do get to a point Kefi will list some Saudi investors will buy shares in kefi in London as based on other listed miners the valuations are very high. Maybe we get the green light later this year but another development that could multiply the share price overtime.

While i have parked Deeside i just cant fathom that Toyota being involved on the energy side would not draw in decent investors. The original investors never had the money and were too small and were more chancers. I feel the project is on far stronger ground but its a big project and just small steps can take weeks and months. I will just be happy to tick Italy off and get a positive update on Deeside investor has been found and financial close is imminent. I feel any deal would have been announced and not to leave to the last day, We just need a little bit of confidence that should come from Italy and Croatia and i suspect investors will start to queue up as the returns are high for minimal capex and can easily refinanced when operational on 5 year guaranteed income. would love a positive rns to land on Deeside on the fast track and not simply a wimper after DP said he has bigger investors and did not change the long stop as he was confident. The flatlining share price does indicate general malaise but we are so undervalued Deeside and many others have been written off.

The one thing you have to give fair credit to Harry over the years, given all the shenanigans he has faced and many self inflicted, is that he has taken all of the investor slack but has continually carried out these investor webinars and goes to the lenth of answering every half baked question thrown at him. It sounds to me the Ethiopia impasse is nearly breached leaving just the London meetings to hopefully iron out any legal issues remaining so the definitive agreements can be signed once credit have signed off the loan. We could be actually closer than i thought and maybe get some key RNS sometime in March. It certainly feels there is a push going on from the looks of the meeting and the news from the Ethiopian government and yet we are still anchored at £30m where we have been for 6 months roughly with no serious upward movement. The market stills thinks TK will not happen. Given the scale of the 3 projects in hand and if TK get the greenlight the snowball effect on market cap could be quite swift. Even reaching a £100m market cap seems too low for the scale just on TK financing but it is Hawiah and JQ that have been hidden from view under the TK cloud and that is where the valuation of Kefi will start to get exciting. will take a while but this will rise and rise once TK is out of the way.and depending on speed of Saudi financing, listing on Saudi and TK getting closer to operation will decide if we hit 5p or 10p. Certainly sense there is a 10 bagger lurking here over next few years. Even if TK was pulled tomorrow we know JQ and Hawiah are on the same trajectory to get financed and constructed by 2025.

Maybe waiting on some additional confirmation or results of the performance and so on. Cant be long and also Croatia could be shortly along with updates on Deeside and France and North Fork. All should have positive momentum as they are all so far delayed but the investment market that was partially frozen in light of vertical interest rate increases does appear to be thawing with some activity so with Italy could be the start of a long climb back to a penny and then onwards but DP must not get caught out again overpromising and underdelivering as he might feel good on the day but it will catch up with you as DP has found with a share price so hammered he has limited his options.

Hopefully DP delivers on his last quote and starts to close investors sitting on the fence to get the cheque books out as this is a highly profitable operation for investors who have largely loaned money to project and will get back their loans on refinancing. Could be a good week coming up, especially if we get some RNs on Italy or Deeside.

“We expect a busy programme showcasing the plant early in 2023, with a number of strategic and project investors interested to see the live operations“

This is fantastic news and shows real commitment from government to crack on. We never heard that talk from Tekele. I suspect when those “small subset” regulatory matters signed off we will get an RNS. Could combine with London but once the government have nothing further to do we will be shooting upwards as the rest seems process driven and paydays for all vested parties.