Member Info for Simms45

I am confident we will relist if all questions from. Hkex responded to promptly. If CNEL did not get delisted they might consider somewhere else but bear in mind they spent 2 years and many many millions getting this listing so i do not think they would give that up just like that. If they went private they could buy pis out (they have over $30m in reserves so they would have ample cash to do so but bear in mind they raised $10m from investors as part of listing and these institutions will be more powerful. Of course if they really wanted to they could take private, dilute pis out of existence but i believe that we will get relisted if CNEL are promptly responding to questions. 18 months of a total mess the board could have averted by being transparent and i really hope the bod suffered for their poor management of the situation. We can hope CNEL updates market before returning and to be honourable in their respect for investors.

Eqtec is now valued at only £43m, which is probably the value of just a few of their deals but of course any placement at these levels rebases the share price considerably and it appeared DP had averted this issue by its loan. DP knows that a placement cannot be on the cards as it will impact everyone so i am sure DP and team are working overtime to get these projects financed and those in development operational. It is time to forget the pipeline and close deals to avert difficult choices in 6 months. If DP can close 2 decent projects this year we will have plenty of revenue to not require a hefty dilutive raise in the New Year but we have good levels of cash for now so it is allow DP and team to get these projects off the ground. i am very confident we are at a turning point in the history of a company that will grow significantly over the next 2-5 years but today they have some growing pains that need close handling.

Exactly. Time for DP to prove his worth by closing finance on projects and forget the magician techniques of distraction. we have several projects close so lets just close them and use revenue from those deals to finance and close the next projects and so on. Its a snowball but it starts with closing finance on the first project. We are not short of projects thats for sure.

What i do not understand is whether this is part of thr delayed contracts as Sunbird is not mentionee anywhere in any recent reports. Are we sure CNeL is developing this? If its one of the big delayed projects that caused revenue fall thats great but i am not so sure. i guess i have frustration that the bod are not sharing any details as how can investors gauge prospects if they do not release some news to say delayed projects now commenced to put investors mind at rest. surely Richard Bennet can comment as he is chairman of sunbird and should detail was CNEL is providing?

We are waiting confirmation of trading but does anyone know the delayed projects and whether these were started in the first half of the year? Is it related to Sunbird Bioenergy that Richard B is also chairman as i cant see anything in the reports that even mentions this company but news on the Sunbird site seems to indicate traction as CNEL first talked about this project in 2014 so its been masively delayed? How big is the project as clearly a good resumption of trading would co-incide with a reversal of revenue and project pipeline. The lack of visibility on contracts is almost criminal and i suspect Hkex is dragging for this and many other reasons as the board will in knowledge of key information that their associates will be able to trade on while pis are simply guessing. We must be close but we need more understanding on prospects and i was led to believe Sunbird was a big project value but given it has not been mentioned for a long-time. Also the vagueness of the board around their Hydrogen storage and so many other things is really not helpings pis get a sense of the future prospects.

The key to Eqtec success is having a good range of projects all slowly developing in the background and making sure some of those come to fruition on a regular basis. We have the former is spades but DP needs to double down now and focus on the latter. We have 13 or more projects getting to a good place and a global platform of partners to deliver the tech but we now need the crucial step of closure. I would like to see the whole team stop chasing new opps, that are clearly enormous and prove to the market they can deliver on the financial close and getting the few projects operational. This is what they need to do now and the final quarter of the year could be their turning point. Then the investor market can see we have the tech, the team, the delivery and financial closure capabilities. Come on DP lets stop the rot and painful dilutions and roll up our sleeves and get the deals otl.

If we had a 100% guaranteed future income we would trade at the NPV. The 90% discount is the real or not risk that between now and drawdown on that revenue something might happen to delay that revenue from occurring. It is fair to say as time elapses and as more boxes are ticked theoretically the gap should close. At the same time we are aware the assets of both Hawiah, TK and JQ are going to balloon. Given Harryd many missed deadlines investors are fairly taking what he says with a pinch of salt. To hit financial close on TK he really has this month to tie everything up and drawdown in September. Once we get to actual financial close we can expect a 3-5x change on current price at least as Hawiah will be secured and a much larger asset than TK. So far to his credit Harry has delivered on his time table but the security report is key alongside signing of financial closure with investors.

What we actually need to know before we trade again on the HKex is whether the delayed contracts have now gone live as they caused the drop in revenue but they were not cancelled, which is a big difference. I am sure the HKex will be asking all the same questions so that insiders at CNEL are not able to gain an advantage over pis when they return to the market. The half year results are also technically due, but probably after the return to the HKex, which makes it even more important that CNEL provide clear and transparent update on contract signings. I also believe CNEL should orchestrate a share buy back and commit as littl as $3m, representing less than 10% of capital reserves, that given the shocking valuation of the company could remove as much as 10-15% of the shares from the market and boost earnings going forward. Realistically they could commit more. It makes a lot of sense but we are dealing with a board who have historically not acted in the shareholders interests and more their own. Again the HKex i hope are going to be tough on the board to stop the shenanigans but ensure CNEL get back to the market in a timely fashion and by the start of September or sooner.

The market overall is pretty glum and plenty of investors are just sitting on losses waiting for better times so value of companies appear almost meaningless as its supply and demand. The mood will change as we get go point of financial closure that must be 2 months if October will be hit. We should see a lot more investors moving in as that day approaches. looking back we will wish we looked again down the back of the sofa as fair value will be north of 2p come cash starts piling up in bank from investors. That is still only £75m market cap and that is a low market cap. £300m is not unexpected in 2 years time on first pour and JQ and Hawiah progress, making this a 10x opportunity today.

We should be due some news next week if MOM and Kefi are meeting and potentially the security sign off report. So far every timeline has been hit so lets hope Harry can keep up momentum as all three projects are really moving at pace.

Condor are holding up better than a lot of mining companies who are down 70% from highs. i think we are 50% or so and we have always been undervalued. I think the market is the big issue here and the lack of liquidity. you can move Condor up and down by just buying or selling a few thousand so the price today is not fixed in reality but very painful for those who need to sell. The price will rocket once the BFS and finance is completed as the gold is not going anywhere and we are very close. If you have some spare cash down the back of the sofa now is the time. What i sense is that everyone is short of cash as the price of AIM stocks must on average have fallen 50-70% in last 12 months. There are very few shares that that have not fallen 50%. we should be in a much better place by the eoy with financial close and moving to build. We will make $100m in the first year and i am pretty sure Condor are going to either exit and sell out by then or pay out as dividend very quickly as i think the board will look to quickly extract value.

We have end of month update to check how much is less to do but all consortium signed umbrella and security report is being written up. Both banks have clearance from ethiopia central bank to both use same terms and so far $80m of our historic investment ($20m more to add) will be completed. The first signing of investors should be August/early september. Still bits to tick off but the umbrella was key and settled the seriousness of the project. This news 12 months would send kefi into orbit but investors are running scared and as a result most of AIM is a bargain shop with companies valued below cash in bank in some cases. When the market accepts gold is still in the ground and we have funds to extract we surely will be a £120m market cap at least. Based on £26m today there is plenty of room for improvement. Certainly 2.5p does not seem unrealistic after financial close and if market changes wind could be far higher. We basically will then have 70% of a £2bn piggy bank we can extract £100m for 8 years based on figures in kefi details. Again comparing NPV of £800m to £26m today is laughable and Hawiah and JQ are not even considered in this. Lets get those key security reports and MOM update done by end of July and then see how much more is needed.

£655k bought so far today and probably more given the way bid/offer spread is so tight so we should hopefully clear the overhang and move forwards. While we can all be disappointed on timing of this and many related matters we are marching on and i suspect DP, who bought a tidy amount, will be looking to capitalise. All investors are down on Eqtec so no one is really gaining from the current situation. Really DP should have been
more strategically aware.

While painful these.5 shares will not last long imo and if i had some more cash i would be investing today at these levels. Everything fundamentally is moving forwards, albeit slower than we like and this money will assist closing deals and getting projects live. While we might not like it, i do not either, it keeps Eqtec moving and 2nd half of year should be strong but DP has not done himself any favours on this but its possible he was caught in the middle of his loan drawdown being not allowed for some technicality. Time to pile in on cheap shares and join the board.

The positive i can see is that 50% of placing went to directors and Altair. While i think thr discount was quite high we know these investors are long term holders so it might not create much of an overhang. If board are investing this does help confidence somewhat.

how DP could not have been doubling down on closing a project is really dissapointing. Arguably £3m is pin money but the kick to momentum is quite big and while £3m is not a lot of cash bo doubt the overhang will be around for a while. What is DP and the CFO thinking as this could have been handled better. They could have found £3m of savings of sold off an asset. There is so much going on but DP needs to realise value and close financial projects. While we all get the huge pipeline and potential we need to build confidence by getting a few projects live and a few more financial closures. Also while i am for primary bid my experience is pis do not hold the shares long and creates an overhang but lets hope DP gets some decent news in next month so we get back to where we should be. Why does a company that is making the right noises go and raise small beer money that could have ramifications for future prospects. What was wrong with the £10m drawdown option. I guess we need to add 3-6 months to rebuild confidence.

And best of all this is only up to 2020. We still have 2020 - 2022 to be added into the pot and should be another $20m taking our sweat equity to $100m for our 70%. this again is more formality but the big one was getting all the old costs signed off for the $80m as the rest is recent. Really starting to now come together. Just have to wait until the penny drops and the rest of market starts to get it!

Yes onwards and considerably upwards i would suspect over coming week. Some really key updates in this RNS.
These 2 are key and great to be 100% confirmed as before this has not and that really only leaves the security report that we know from previous RNS it was good and needed writing up. Amazing to get confirmation $80m of sweat equity is agreed as our equity injection. Thats £67m and i forget but last time i checked our market cap was £23m!! today we have confirmation that our £67m equity is good to go. Certainly beats raising £67m :)

“the Ministry of Mines has now audited and endorsed the historical project costs incurred up to 2020 of c.US$80 million and can now report this to the Ethiopian central bank; and

“· the central bank has now permitted that both development banks be allowed to lend on the same terms and formal ratification is awaited from the Government.”

We are up and away. Overhang looks to have cleared as small buys now moving shareprice up. We should be around 1.5p awaiting next news but key is all news is moving us forward at pace now. Not long now. Couple more RNS due before end of month that will help step us out of the doldrums.

Key line for me is “imminent”
“These discussions have now reached an advanced stage and it is the view of G&M's management that a positive outcome to these discussions is now imminent”

Is this a month or so? Artan clearly have a large footprint in Saudi being a huge employer for the country so it looks that we could get license very soon.