Member Info for Simms45

All i see is lots of buys in the background taking all the shares being sold cheaply. Someone is having a party in a few days. Umbrella will get signed and hope that finalises the way forward. Remember that every western miner is watching so Ethiopia needs to make this project happen so that others have confidence to come in. Lots at at stake but its looking good to me regardless of the twists and turns but its all good to help get this show on the road.

The Company received a Reminder of Deadline letter late on 24 June from the Minister of Mines referring to a new deadline of 30 June 2022 by which the Company is required to demonstrate the availability of project funding and to check compliance as regards the environment, duties and taxes, land rent, and exploration reports.



The Company remains confident of its compliance with all regulatory requirements and also remains confident in its ability to achieve its plan as set out in its announcement dated 15 June 2022, including the signing of the Umbrella funding Agreement by the end of June 2022 which will demonstrate the full funding and any attaching remaining conditions.

Its all about making sure the umbrella agreement is signed before the end of June, even if this is true as Kefi has not said anything except they have the syndicate and meeting as we speak in Ethiopia to all sign. If that happens then this news, if real, should help Kefi make it happen and create necessary pressure. Of course high risk exists so its only for the brave but why would every come to sign an umbrella agreement if they were not planning. Why is MoM and government at the table if not to make a deal happen. If Kefi does not make happen its another 10 year wait if ever it happens.

Reality is the Ethiopian government has a sizeable stake in the project and $20m of taxpayer money invested and the MOM is mostly about pushing the syndicate to sign as many will have invested significantly over the years. As we have seen tome and again MoM plays ball when needed but cleatly keepimg some cards to help get this show on the road. We will find out this week how the land lies but Harry has stated all is good and meetings in Ethiopia for Unbrella agreement underway so lets see as once signed Hawaiah and JQ become a lot more valuable as we will have a lot more assets to speak of and use to fundraise. It will be massive also fof TK but rhe umbrella agreement is the starting gun on the final stage of completion and removes a massive amount of risk. Incredibly investors, perhaps rightly, are waiting for the RNS but it could double on key news as we are price at sub £25m as if we were just starting out not in the process of completing on 2 monster projects and a tasty 700k ounze gold mine that literally just needs shovelling into the mixer and melting some bars. could be a key week.

This is RDF? Glue and plastic mixed with sawdust? One of more difficult wastes to dispose of.

I am glad to see that it is not just a few k of selling that causes the price to fall but also so far today £3.5k of buying and we are up a penny. Really we need some big news to punch this back up to 30-50p but with volumes so low the price appears to be moved so easily. Come on MC lets get a decent RNS confirming a partner, toll, BFS please as we need to crack on.

Excellent news. The key piece of the jigsaw before financial close. The nice part is the contract is fixed so no upsets on cost and are now into the final hurdles to get this over the line along with Deeside so hopefully a double financial closure later this year which would set Eqtec up nicely for a maiden profit no doubt :
"EQTEC Advanced Gasification Technology that could convert 25,000 tonnes of RDF per year, supplied by the Plant's waste processing facility, into an estimated 2.5 - 3.0MWe of clean electricity. The Company is further exploring the option of producing clean hydrogen at the Plant, by applying its own synthesis gas ("syngas") technology together with syngas-to-hydrogen technology provided by a technology partner. Together, the full Plant facilities are expected to export to the grid the equivalent of 20% or more of Southport's energy requirement."

I think how revenue and costs are accounted for are problematic but if correct we had a bumper sales half year and then all our raw material costs for those contracts hit. Now plants are being completed and stage payments from clients will come in and if we have not secured the delayed clients discussed or new one raw material costs should be low, meaning next period up to June 30th 2022 might be quite profitable. I hope company rushes those accounts out but frankly it could easily be BOD up to tricks for some reason we are yet to find out. Their profit warning a day before accounts was to maximise pain as thet could have provided guidance a long-time before. we will continue onwards and we will get back on the HKex by September deadline and it does give us a window to see if next results see the last 6 months as a blip or that they can steady the ship so costs and revenues are in line. We are worth same as cumulative profit so we are still way under valued fundamentally.

We are surely now in silly season on valuation and i really hope DP is focusing all energy on closing deals as the market is having none of any companies spin and jam tomorrow. There is a massive flight to safety but i am still here and know we have a long-term winner here even if the market is valuing Eqtec as if it is was a start-up. Quite depressing seeing sub .6 but a great opportunity for those with cash as i really cant see this share going much lower as we are worth less than net assets! keep the faith as all underlying fundamentals are as sound as they ever were but DP needs to now get these deals signed.

While the whole stock market seems to be in a bit of a spiral if we get the signed umbrella agreement and 70-80% of Kefi project then our $140m or theresbouts of past investment is going to significantly boost the value of Kefi on financial close over the coming months. We should surely see £50m+ quite soon after Umbrella and really move a lot higher towards completion, not to mention JQ and Hawiah that are literally free ball opportunities, Quite a remarkable position across AIM at the moment for cash rich investors as i am sure most are already invested. To think we are down 80% from highs is a sobering thought but that can all change this year. If the umbrella gets signed everything changes but as with Kefi its not until its signed and sealed that we all know this is happening. Seems market is not confident.

when there is massive free capacity at Calibre mine and MC was in talks to fill that gap logically a business deal should be secured. we do not know the ins and outs of that process but i am sure Calibre have burnt bridges over this but really there is a screaming deal to be done and both sides must change their attitude. We just had a 2 year window to seize the opportunity with gusto but it looks that window is a tighter fit. What frustrates me about CEOs is they think the good times will continue but almost always they relax a little seeing the share price rise and do not take this as the key sign to get the deals done. Now when the market is against us and market cap is lower things are obviously harder. Why we spent $10m on a BFS and not simply throw that into the ring along with maybe $20m cash from JM as equity on a finance deal i do not know. I am sure there were banks who did not need to see a 18 month BFS that has cost us a lot and we missed the market timing. Mellon could now be squirreling gold in excess of $20m by now if we just got on with things. there are times to do things right and then times to just make it happen and i think that BFS decision was a very poor one as we have gone from 50-60p down to 25p and i am sure JM is not too enthused given he has injected a lot of cash at far higher prices and his warrants will be almost without value the way this is going. JM just got a boat load of cash from his business he sold so he could easily just help MC crack on and not keep this painful slow progress. I think Ross Beatty saw the slow nature of Condor and moved on. We will get their but at what cost as need some decent strategic news to get Condor back on track.

Hopefully Kefi can pick up the best ones after the umbrella agreement is signed.

No fund would shoot themselves in the foot and exit when a company falls below a threshold. I would feel sorry for any investor as companies values gyrate on whim of market but fund managers should be valuing on fundamentals. What DP needs to do now and very soon is financially close a project. we stand to make a massive profit on ballooning offtake agreements at current levels so never been a better time to lock in these prices and make a serious amount of cash. What energy provider is paid to take the raw materials and then generate 3KW - 25 KW on each project. These projects will be massively profitable but DP needs to close the finance. Southport and Deeside has worked to our advantage on prices but he needs to close both asap to maximise that value.

Company is valued today at £26m for 3 serious projects at an advanced stage by any explorers standards. if TK closes our $140m of sweat equity going back decades of investment will forming our 70-80% of equity in the project. Limited dilution from today. That is the BIG difference. Sure its seriously hard to pull off as we have found but its huge win if it happens for investors. normally financial close on project finance has massive dilution attached but this will not happen. roll on the umbrella and then each of the consortiums to transfer cash to escrow. Waiting on all parties completing.

All of the consortium including banks and MOM are meeting in Ethiopia to sign the umbrella agreement. Obviously something can happen but looks pretty solid and once signed we are a lot closer as consortium cannot pull out unless the MOM do not complete paperwork or security report. However for kefi holders its a big possible week where investors can breathe in once its signed. Its not over until the money is in the bank but consortium will be legally signed into agreement and frankly for most companies in Ethiopia it is one of best ways to expatriate huge profits locked in ethiopia so investors are as keen as Kefi to get signed.

We are definitely into the zone where investors are only interested in actions and windows or opportunity are short and companies need to grasp them and not think they will continue into the future. lets hope the BFS ensures we secure finance quickly as we are now in the middle of 2022 and this financing was discussed as Q1/Q2 last year. Now more likely Q3/Q4. As you say this is all cashburn and placings at these prices is not a good place to be. if he knew all these delays he should have raised more in 2021 and stop the drip drip of placings as they destabilise the share price and can be a drag. We can only hope new investors are sticky but with toll off the boil really only the financial closure is the main event. A partner should be great and in reality i would much prefer to take a 60% stake and Rio to fund and given them 40% of the project. This is 0 dilution and would galvanise the project at speed. Just do not understand why such a good project is not getting partners as Rio specifically into Nicaragua exactly for this purpose and has done 0. I assumed it was to do with Condor and do worry Jim and MC have drawn ridiculous red lines and why Ross Beaty might have exited. The reality today is very different to last year and cash rich partners are the way to go. if MC wants to borrow then offer a premium interest rate to HNWI and repay the debt asap from gold. We need to see some action as the last 12 months have been painful waiting on this BFS.

importantly the unbrella agreement signing next week is including the government and banks so the government will have to look everyone around the table and tell them they will sort out the remaining issues. This is looking very good as the meeting is organised and happening so there is little derail the starting gun on the financial closure. there are some details clearly but having the government and banks in the room as well really makes this a lot more credible and we have $100m & $40m of historic sweat equity that will become out 70-80% equity in the project. That will be a sweet day for all investors as that will immediately hit our balance sheet and swell out valuation. Hawiah and JQ sounds we will get the paperwork from Saudi very soon as Harry was told to just get on with it and paperwork will be sent. need to wait for that letter but again this will be key events that raise the valuation of the company as today those licenses are basically worth 0. Set against this we have a terrible stock market tide going in event as investors have margin calls. nothing can really help the over leveraged but if Kefi can sort the umbrella we can breathe a sigh of relief that Kefi will be a producer in 18 months and a mid tier producer in 2026. Market cap today £26m? This is pin money when we could easily be worth £125m+ on Kefi financial close alone.

What has Seaberg delivered? The fabled ex CFO of calibre created nothing with Calubre or Rio. He has been quiet and did not hear any financing happening except warrant confetti placings that anyone could sort. In reality it was the same as when MC was operating. For me Seaberg was a big dissapointment as even the toll did not happen and that was a win-win. He might be senior but if he is not delivering maybe next one will be more hungry to make deals and not rest on his laurels hoping to cash in options. We have the BFS pretty much complete allowing banks and investors to have a look. Really now its all about getting investors/banks to the trough and in fairness to MC he is highly credible and hard working and doing things correctly, albeit painfully slowly to everyones disadvantage. The market was perfect in 2021 and now 2022 is looking a bit of a horrow show. he needs to get this sorted asap as the next 6
months do not paint the best picture although gold should go from strength to strength as while the crypto bubble has popped and AIM stocks about the same along with printing presses of currency burning out gold is going to be a kingpin and while investors are selling gold to stem losses elsewhere gold is the key to maintaining your wealth as its hardly moved in 12 months. its about the most stable you can get. However we need to be producing and not sitting on the sidelines.

Its simply a tide going out event and investors nursing losses are liquidating other positions to cover losses and so on. a lot of people burnt. The flipside is that companies that deliver will get revalued and Kefi is in line for that on the right news. We are st bargain prices but a lot of companies are. If Harry can sign the umbrella agreement and sort the technicalities we are due a good rise towards NPV over coming years as we will have the funding to crack on.

well most have until 5th April 2023 to decide to crystalise a gain or loss for capital gains. I tend to make amends to my capital gains in the New Year and i am pretty confident that the fundamentals to deliver on project finance and completions will come in steadily towards the New Year for Eqtec. While the market is simply seeing the tide go out exposing and sadly taking advantage of those on margin calls and other situations the tide will come back in and i consider Eqtec as a strong asset on fundamentals. Its painful i know as i suspect most investors have seen 50% falls in their portfolio but i sense last 6 months will provide a turnaround as we get real financial closures and projects coming on stream bringing in a new revenue.