Member Info for Simms45

I invest in some companies that cannot get loans and shareholders over time are diluted away. Placings are the killer of pis but a bonanza for the likes of Amati who grab warrants and cheapo shares at our expense. Convertible loans at 7.5% FIXED are an incredible outcome and i hope we can do plenty more in the future as that cash is going straight into projects that have high returns and not covering debts etc. Anyone wanting to see placings today at .7p and warrants to invest in projects need to probably question their thinking when loans are available. What we are not short of is projects. What we need is access to lots of finance quick to get them all moving as fast as possible. £10m will in anycase last us out until profitability but given the massive order book once DP closes a few projects and we get several operational and cashflow generative i would like to see further loans incoming as this is all going to remove the shackles from Eqtec growth. Hard to understand when we need a cash injection to push business forward and you have option of placing or loan its hard to imagine any invested PI wanting a placing at mates rates to institutions followed by a 3-6 month overhang as some offload and take the flip.

As an pi i am much happier we have unsecured loan of up to £10m to speed development than another massively dilutive placing with warrants to the likes of Amati. Keep the loans coming and u suspect Amati was a jilted party who was perhaps excluded. If Eqtec can achieve the target revenues and profits this year without dilution we will be likely to sail past 3p sometime this year. If the lenders want to take their repayment in shares so be it as it will keep cash in the business. Obviously everyone expects lenders to convert this loan into equity sometime at 3p, which quite frankly most shareholders will be delighted. That is far better than a £10m dilution now at .7p and warrants and 6 months of overhang. we fell from 1.25p on back of thr Amati sell and we can all be glad that is over. Next week could be the start of the re-rate.

This has probably been the overhang and hammered the shareprice since it rose to 1.25p recently. The good news is hopefully they have stopped so could now see a proper recovery in the shareprice.

Hopefully an update tuesday and expecting DP to come out guns-a-blazing for next 9 months as first quarter has been a little lacking on where we might have hoped. Importantly nothing has gone away and the pot is building both in current sales as well as pipeline so im happy to keep on building my position at these levels and take it positively that while while we are off our highs we have the option to second dip at .8p. Next week lets hope its the starting gun on a new chapter of financial closures and milestones on projects in development. Have a great easter.

Long weekend. Whats the chances of a BFS landing on tuesday? It would be good timing as if gold hits $2000 we woll see headlines in newspapers and Condor will be well positioned to benefit.

Now that would be world class. Sell rio luna and estrella and focus on la india? last shares going at 35p and they will hopefully not be hanging around for long. Stock float is at all time low so leg up will be quick on positive news.

I agree. cost of commercial energy is around 5x what it was 18 months ago so surely the project economics, that were already incredibly impressive before, should be now off the scale. All our input costs generate gate fees so why are Eqtec not updating shareholders how this impacts the bottom line as we would be in line with 5x revenue from these projects. I am sure some costs will rise but overall a massively positive impact to Eqtec across all its projects. With manufacturers about to start pay large penalties for not reaching net zero manufacturers who can will surely be looking to bolt on a gassification system and take their energy security into their own hands and ultimately build a competitive advantage. We should see a good update and it might turn the corner finally and get back to 1.5p for starters.

at .85p i really do not think anyone will do badly in time. We jumped from .8 to 1.2 recently and have come back down again and it is clear there is some fence sitting but the next update could fire up proceedings as 2022 is the year Eqtec should turn into a go to player in the gassification space and turn a maiden profit. It is really up to DP now to streamline and finalise project financial closings and move on so as not to have a build-up of half completed projects. It would be nice for a major backer to come into play and help speed up these closures as i feel the current projects are being a little complex in the financial arrangements. if the update is tomorrow i suspect this might be a inflexion point.

Well share has doubled in a few weeks so its fair play for some to take profits. Real momentum will happen when we get key updates as nothing has technically changed on the ground since last RNS and awaiting further updates on security report and other matters. If July is possible plenty needs to happen.

Long way to go up imo. This has risen 2.5p on £70k of stock. Imagine what will happen on BFS day or any day we get positive RNS. This fell from 50p on no volume so it should rise just a quickly when we get positive momentum but if we can move up a couple of pence a day that will do nicely.

Maybe 3rd bite of the cherry we get TK otl as in my 2 years being around Kefi and following Harry and his rose tinted glasses you need to go into the details on this incredibly complex financing. Be happy to see it come together but looking critically given Harry’s history with the truth (just watch last 2 years of webinars to see what he says and what happens next). Personally my suspicions is a placing for Hawiah could be in the wings pre TK as oddly share price rises often give opportunity but lets see as i know Harry said he will not let Hawiah go below 30% in his recent webinar and his partners are pushing fullsteam ahead so he will need cash soon. The key will be the security report for TK and my hope (being a little jaded after 2 years of Harry patter) is it might be the thing that delays us again but it might not. we have had one report that did not cut it according to Harry in latest webinar and the next one one has to seal the security by end of April for anything to happen in May as no-one will invest until the all clear on security. got to keep feet on the ground and hope real updates happen. Harry has done alright conveniently converting all his salary into shares at .8 in recent placing so hes looking at double bag and nearly 100% up on lows of .7 a few weeks ago.

Its funny when you consider we are in a high inflation era, high gold price and wars all over the world but gold is at a 52 week low. Something does not seem right about gold as it does not look to be such a strong performer in times of trouble. Condor will have its time and its just a waiting game. BFS should be this week or next as MC said less than 2 weeks recently. MC must continue to focus on converting our $20 gold in the ground into $1900 gold as that is the way to create shareholder value. Plenty is going on and the BFS might give us the ramp we need to start looking at NPVs and some details on the financing will help. Whether Calibre will change their mind on toll maybe as i am sure they were just stringing MC along to wear him down and make lowball offers. At the end of the day they throw away £40m a year with a mine half empty and not planning to change that for at least 12 months.

is it me or do we have a new non exec? Im intrigued if they announce a dividend as they have 14 months since the fy 2020 ended and it has been 5 years of growing profits and we must have $40m in the reserves? if they have refrained from buying mates businesses at trumped up prices and auditors are watching closely all the rest of their cosy pr deals they might well have to consider taking money out the front door with the rest of the shareholders. Would be a revelation if they do as it would mean further payments being planned and big bang return to the market but so much us unknown with 18 months of silence its hard to tell. I think im being a little optimistic.

Well by 22nd April we will see if Fy 2020 results are signed off and if a dividend is forthcoming. As long as they stick to the timetable there is wiggleroom. More frustrating is the total lack of updates in the meantime on new contracts but CNEL are in the right place at the right time so even with the worst BOD for pi relations its quite hard for them not to secure new projects.

Key takeaways for me is that we aill not dilute anymore for Hawiah so a placings will be carried out to keep us at 30%. The question is before or after TK financial close. The second is constellation security report that has issued a first report that was not what we need so they are continuing monitoring. Until security report satisifies banks and investors we are reliant on this report giving a green light to proceed. The rest is really a case of making sure we stick to the timetable. For me the security all clear report is key.

Can anyone tell me the total amount of money raise to date? What is surprising is PG had incredibly high grade ore but its hard to fathom why so little ore and of relatively poor grade is being milled? 4.4g is good but the throughput is so low compared to what is possible and they are burning cash. Something seems odd to me as PG had the highest gold grades of almost any gold explorer but production is not matching this. The key is throughput and better grade to get them out of the cashburn. Ashanti cannot be happy having taken 20% stake but they have non-dilution and first refusal on any future placing so i suspect they are throwing their weight around as they could ge massively diluted or in fact could end up owners as i think if they go to 30% they need to make an offer. Market cap is £80m so i am wondering if total investment to date exceeds this or not.

The .801p bid was and is a tough nut to crack. we go higher and then one of the placing contractors who bought in at .8 offloads and back down we go. Lets hope that big seller has finished or holding back for now. Need to just get into hands of investors as we are massively under valued if Harry delivers some decent news in April or May.

With a BFS released MC should be start to look at a convertible loan on the project. Really we should be looking at other ways to fund the project so close to financing. I hope he can run on fumes and suspect he will in fairness but he needs to start thinking how to get Condor back into the 40s and 50s before finance as so far the low hanging fruit to achieve that have eluded MC.

Need to bear in mind final 2021 results due end of May in timeline so that gives them 4 full months of wiggle room but they clearly need to start getting the house inorder as they have been spectacularly slow so far and even 2020 final results are still not out. I suspect as long as they are 80% of the way there things will come together to relist. My biggest concern is more that the board might be up to its old tricks and 2021 gets investigated but i really hope Richard and non execs have put a stop to all that nonsense.

while its great for the MOM to now appear to be actively involved personally we do not need more exploration. we are drowning in millions of ounces of gold but we need to conserve cash and focus all energy on financial close of TK. The key period will be May-June and if we get wind of these things happening sooner than later we can quickly proceed to 2p+ and maybe we get some later this month. What is great to see is that our $60m of sweat equity confirmed in RNS forms our equity investment into the project financing and for me the day we convert that $60m into our 70% ownership the better for everyone. This is a project where we are not going to be considerably diluted on the mine finance. It will actually be the reverse as all the dilutions we have had to date and spent on project development (and Harry sunlounger in cyprus)will come back to Kefi. For me it is potentially a fantastic outcome. We will see but just to remind ourselves any heads ups on the following and things will be very exciting:
May-June 2022:
o Drafting of the remaining detailed documents, flowing from the regulatory approvals, mezzanine term sheets and Project contractor pricing updates in March and April.
o Insurance package and pricing confirmations.
o Independent security review and decision as to when to sign final documents.
o Signing of binding documents by all