Member Info for Simms45

Bear in mind the lender is our largest shareholder who was also the one Harry referred to as not wanting a placing before mine finance. They appeared pretty adamant. Obviously things have moved a little in timescales but bridgers on 25% love to roll over for some more fees and a top-up. its really unlikely the largest shareholder who was largely the reason for bridging as opposed to a placing is going to now distress their own large holding. We need more clarity anyway on timescales and i do not think they know today.also if bridging was due end of November it has already passed and you take to bridgers 1 month in advance so its BAU. Furthermore like before all bod have taken no salary in the past in these times so i am sure they will be doing the same, afterall this mess is their own doing from not making hay while the sun shone and dragged their feet. personally who really cares if they did a small placing or not, its actually positive in the circumstances to give us the runway and get ready for Hawiah update, TK updates and Jibal updates. All due in next month. anyway .85 is a great entry and surprised we have reached this level all things considered and by RG resoundingly pushing TPLF practically all the way go Tigray. Looks like a complete turnaround or i think stage managed as it seems inconceivable a group can take on the EG with planes, drones and special forces. its very likely Abiy could not get them in Tigray so got the TPLF in his own territory before taking on.

Iistened to latest webinar a little more forensically and at 38:50 MC does specifically say “prior to entering a toll mill agreement we HAD to so this infill drilling” so its a little more presumptious. Its also interesting that his tone has changed from 12 months ago where he started to not talk about the toll as he once did. Certainly feels that if its going to happen it needs to be this month or January but he talks of exploring debt financing as soon as early 2022 after the feasibility so it does seem likely feasibility is due early 2022. If a toll can be secured, even at this late stage, it changes the game as we can kiss any further warrant confetti placings goodbye and just maybe lock in that target of a £1.50 shareprice not too far ahead but it is hanging in the balance but in fairness we only just completed the in fill on Mestiza that looks the likely source for the toll. Calibre clearly have the spare capacity but MC just needs to suck up the extras Calibre might want and move on. The alternative is continued possible slide in share price to a point where even possibly MC does not want to do a placing as he will know how much it will hit his position so the stakes are high but the reward to MC will be millions more than without a toll and maybe selfishly he should move the goalposts and make it happen. Surely if the Calibre CFO moved to Condor on good terms we have a back door. Feeling more confident its going to happen this month. Lets see.

It was remote. Harry is needed in Ethiopia rather than in quarantine in the UK. No flights from Ethiopia i suspect anyway. Abiy has upperhand, peace talks being brokered and breathing space to relight momentum. I suspect what happens all depends on progress. If Harry is close bridging. If its longer term it will depend. 25% interest is very nice for those lending and they have pretty good callaterol for the debt as Kefi is debt free apart from bridging so lets wait for Hawiah updated resource and see if Ethiopia quickly recovers its calm and then we could be looking more confidently. I am confident we are grossly undervalued but TK clouds the horizon and as i said before if Harry spun out Hawiah to stand alone we would be worth more than today. Selling Jibal is an option if that license comes through as planned in January. Key is we have plenty of assets to back borrowing and several are about to get a lot more valuable.

At the moment we are in one of those self fulfilling downward slides. As the price falls the extent of any potential placing on dilution gets bigger and so people sell off and so on. The frustrating recent placing with a confetti of warrants has simply helped the slide allowing some investors to sell off at 35p and keep the warrants. We are now down to almost 30p from almost 40p before the placing and value is unhinged from the share price. This should never have been allowed at this key stage where investors need confidence not an unknown quantity of investors where we have no information who was investing and their motivations. We had not a single big investor meaning it was all small players. MC must address, with all his energy, to turn the tide and put a spring into the step of Condor. The logical conclusion, even from 2 years ago, was to work like crazy to conclude a toll deal where everyone benefits. In one fell swoop this would dramatically reverse the trend and lead to a frantic push upwards as investors, many reading this board would buy into. That is not to say he still might not do a raise but who then cares as it will be a 10% dilution. It is a game changer. It must be dawning on MC that while he had a stronger hand 1-2 years ago to do a deal companies like Calibre and Mako will sense his need and sharpen their pencils on the deal. Today the market values an ounze of Condor gold at $25 in the ground. From an investor standpoint anything over this is technically creating shareholder value, let alone $500 that is probably more likely. Therefore there is plenty of scope for creating shareholder value from a toll and more than enough for everyone. I would expect we would be over £1 had MC signed a toll 12 months ago that would mean there was no need for the recent placing and present an option for no need for any raise for the mine as we would have built up cash reserves. MC for his own part could lose millions from dilution to his own holding and a big cut to his future bonus. For all the 12 years of work MC has put into this for him to lose a lot of it at the last hurdle would be sad not least as that will affect all investors. MC needs to bat away any meddling investors who might be exerting pressure and get this toll over the line and if he does things will radically change that would be very beneficial to his position as today he has power but tomorrow after a placing he might be removed. MC must stop playing into the hands of those lined up for the last placing and think about pis where many have been here for 10 years for no return so far.

Seen this so many times that you start questioning your sanity but 9 times out of 10 there is a background seller who has planted a number and told the broker to dripfeed and this can go on for weeks and months and then we shoot up. There has been no major shareholder selling as we would normally get an RNS in time, although often long after the sell event. All we know is Eqtec are firing on all cylinders, Wood news is structurally going to help transform the scale of opportunities and the share price is simply a relationship between buyers and sellers that can often get out of kilter up and down unrelated to company prospects. You only need to look at shares hit by Wood firesales. I remember watching Eve Sleep falling from 20p to 1p largely on liquidators offloading at any cost. Fortunately we do not have that but we have headwind but it will pass and Wood is a cracker. Couple more RNS due i suspect in December and we should see clear back over 1.5p and towards 2p.

While i along with everyone else would like to hear financial closure on TK it is not imminently until we have stability so in the meantime personally getting any updates is great as it is coming direct. Its greal also Kefi are presenting at exhibitions and working on what they can. Hawiah is obviously a project many investors are here for so we are awaiting the updated resource so lets push that along quietly and hope in New Year we have 2 projects on a clearer path. There is every chance now with TK we get a more helpful update as long as stability comes and it is looking increasingly that the TPLF threat is being pushed back and i suspect EG will not take chances and keep them at bay in Tigray until they learn the art of negotiation.

Just re-reading the last interim results and reminded of the following

"The Company remains on track to achieve its previously stated 2021 revenue forecast of approximately €15 million, assuming timely closure of EQTEC projects as planned. This would represent a 700% increase in revenue over the €2.2 million in revenue delivered in 2020."

Seriously if we achieve that it will be a massive feather in DPs cap and so far several projects have come to fruition so while it is hard to know how the revenue is apportioned i am expecting a few more deals to be announced prior to 31st December.

Then we will get an update in "early 2022" but we will need to sit tightly as the market still barely rates Eqtec at all and as if we are not even remotely going to deliver on these revenue numbers, and dare i say maiden profit. Personally the bottom line is we are motoring and the recent Wood agreement is a continuation of the long-term strategy that continues to build out the global platform for fast sales and deployment.

Does look like the TPLF are collapsing from different sources but we probably need wider communication but key is stability and for TPLF to not simply simmer away plotting the next attack. They need heads knocking together and mediate a solution but i suspect this is precisely what Abiy is achieving as the boot looks to be on the other foot. If confirmed more widely not a moment too soon as Kefi needs to rally their own troops. Certainly inpending collapse seems quite far of the mark that the Western Media were peddling but could be a turning point for Kefi investors.

I have also started to add at sub .9 as while you cant always believe what you hear it does sound that the TPLF are being pushed back. I suspect once the EG have done that both sides will acknowledge this cant go on forever and the EG are democratically elected by the majority of the population and hopefully start some negotiation. Its a calculated gamble as such but Hawiah is the biggie quietly evolving in the background and that is the backstop, not mention Jibal license update. As to placing its hard to call. Harry and main investors have so far been very against but obviously things have changed and delay is longer. However they planned on no raise before the 31st December financial completion and they would not have done a placing before that so i do not see why they will not wait until the New Year and see and what transpires. Furthermore loans have been provided simply and effectively in the past and clearly Harry would prefer that route. Given the loans are done with the main shareholder there is a good chance they are on the same page. There is a fair chance that peace talks will commence in the next few weeks and if that happens and Kefi has moved technicalities along while Kefi are in Ethiopia then i think as much as possible can be done in the meantime. Certainly Harry has a big bonus for anything coming to fruition and he still seems confident of some further constructive update in December. Many many projects continue to operate normally and given all finance is local this is also positive as they all know the score. Certainly if Kefi can get something concrete then they know where they stand and what is the best way forward. Certainly just for Hawiah we are grossly undervalued. GLA

Certainly once Condor are producing i do not disagree with his analysis that we are grossly undervalued as even a single years profit will eclipse todays market cap so we are probably on a forward PE of 1 in 2024. However today Condor is tossed around on low volumes. Certainly i would like to think we have 8 suitors but even one making a cheeky offer at 80p would help the market re-appraise Condor and put the wind into our sails. I do wonder if Calibre with their previous CFO now in the same role in Condor do not have chats on the side. it makes no sense for the CFO of Calibre to effectively drop several grades to join Condor if he did not come with some sort of plan. It has been very quiet but in many ways that gives me confidence something is going on. Maybe the toll, maybe a merger or maybe something else. I hope so anyway.

Well 60,000 staff globally across 60 countries and one of worlds leading design and engineering companies with close contact with governments and project backers. This will bring in much bigger ticket item projects and at a far larger scale in medium to long-term and i suspect a few smaller projects might be announced quite soon. I suspect Woods plc has been sounding out projects all year because they did review in dec 2020 so collaboration agreement is likely to be followed up by the first project so this is significant. Proof is in the pudding but Eqtec are tiny in comparison and the bigger issue for Eqtec is can they expand fast enough to manage the demand. Well this is precisely where Woods could step in as we have close to £1bn of possible orders and we need boots on the ground rolling out the projects and leave Eqtec to work on their comparative advantage. We will push on past 2p in due course and will happen if we get revenue numbers proposed. outstanding entry into what will become a multi billion company in due course.

Yes. Strategic action not words is what we need. I get the mine build is going steadily so that is great so lets hope latter 2022 we are close to first pour but the market values our gold in the ground around $30 a ounce so market has a very low confidence in company for some reason. I get time lapse has not been Condors friend but anything over that is creating shareholder value so plenty to play for at $1800 gold. Surely something can be negotiated and take the heat out of financing? Its a double whammy as once shareholders know we are not on hook for £15m+ placing everyone piles in. MC is so confident of the 5m district why are we quibbling over maybe a toll deal for 40k or 100k of gold at a price that is too good to refuse even from Calibre or Mako? Lets get it done.

Given curcumstances cant ask for me. Team in Ethiopia and doing what they can and bottom line for me is Whatever government they are going to need to get this project off the ground for many strategic reasons, but mostly to create biggest dollar project in country. Hawiah is moving on at pace and we should get the updated Report soon. Nice to see we might get resolution on Jibal as we forgot about that but. decent quick return project and would increase its valuation if we get the go ahead to scoop up the gold. we will get their.

Level 2 ASK about to go to 1.55 and only 10 minutes in. Shares as expected flying off the shelves as the Wood agreement sinks in. I have a feeling December will be a great month.

1.5 200,000 CANA 07:53
1.5 200,000 SING 08:01
1.55 200,000 ARDA 08:08
1.55 200,000 CFEP 08:07
1.55 200,000 JBER 08:10
1.55 200,000 PEEL 08:10
1.55 200,000 SCAP 08:07
1.55 200,000 STFL 08:05

An incredible update we hoped was going go be announced earlier in the year but key is we have this agreement to continue our march forwards to serious global domination. This is certainly going to help us re-rate and with results due DP and team have a lot to be proud of. We are going to hit 2022 with a new confidence. Gla

Big advantage of a big portfolio of projects is while one is delayed maybe another gets ahead but we are starting to see the trickle turn into something more substantial. This is 2nd of 3 specific project so far under Phoenix and if they work there is literally room for dozens more. So many projects all bubbling up and final results due soon so we get a bit more wind in our sails. With Cop26 signed off there should be plenty of capital heading our way or something is not right.

Does anyone know if the new proposed 153k a year is based on what mine setup? obviously its a nice number that makes todays valuation laughable but its been slightly thrown out without clarity. We still have December to set Condor loose and on the right trajectory so we just need to wait but it would be a shame for pis and even for MC if we are sidelined in the final sprint. I have been very confident throughout but the lack of toll after so much fanfair and disastrous warrant issue creating a overhang at 35p are two areas for concern. Its so critical to get the trajectory going into a final stretch and MC has made his job very hard and probably cost himself quite a few million so he must also be hurting as he knows what is happening better than anyone. Lets hope some of what Book5 has alluded to comes to fruition. Personally December is a key month maybe for negotiation with land owners holding out and the toll. Its still possible in my books to do a toll and have almost no dilution as the toll can for forward sold and if we only need £25k or so we could come out very well but every day now counts or its JM and chums who will enjoy the spoils.

Best returns for who is the question. JM or Pis? If i was JM and investing for long-term you would want to keep price down to buy an increasing slice of the project and then with a small group maybe take privately. The Confetti of warrants is the perfect vehicle to stifle share price growth and pushing unrealistic toll arrangments would add to this. I am only guessing but JM could be in this for himself and pis and MC can sing for their supper. Lets hope not but we need real action from MC to save this for pis and he probably has it in his grasp to do that.

Seriously what is MC up to when it comes to the toll agreement? We can all imagine Calibre was driving a hard bargain on the toll and maybe even wanted something extra but it was talked ad nausea 2 years ago and drove the share price upwards in preparation but now seriously with Mako mining there is no excuse and again this was talked about over 6-12 months ago driving up the share price but still nothing. This can now only be down to poor negotiation as no one can take so long to agree a deal. Should be very straightforward when both parties are win-win.Sadly MC is sleep walking into handing over the keys to the mine to Jim Mellon and friends in the next placing as he will see his shareholding salami sliced and his own exit strategy of a share price of £1.50+ in tatters. MC could end up very marginalised by new shareholders. The toll is without doubt the most important strategic decision he needs to get on top of. We have probably already lost at least £50m in lost revenue from not sorting any deal with Calibre years ago and the market is punishing that lack of resolve. Never too late to get a toll of course but questions need to be asked what stopped this happening 2 years ago. Who stopped the deal and did MC and JM ask for too much.

The return to the market will be crucial and CNEL have time before to properly relaunch themselves. This means proper business updates so we never EVER fall foul of HKex asking what CNEL are up to behind closed doors, they need to put out a full final and interim results and realistically announce a maiden dividend. This is the absolute basics alongside bringing in some more oversight to the board and its dealings. If the board does this prior to relisting then we could shoot a great deal higher and get serious but if the board do nothing and bury their heads in the sand and go back to posting new yoga updates and coffee mornings the share price will suffer as the board are simply taking the p**s and laughing at shareholders. Richard and non execs need to read the riot act as we only get one chance to do this and get CNEL serious. if the company pulls off a clean independent report then rather than throw money at PR companies in India they had better throw some money at sorting their woeful PR and communication strategy at home with the HKex and shareholders. I still to do this day have never heard or seen of our board of directors ever. We need a shareholder webinar to go over all this so shareholders can make their voice to be heard. i dont care if its in Chinese as i am sure they have plenty of equally disgruntled chinese and HK investors who bought in at the original placing and equally shocked at the carnage that unfolded immediately from the bell and the company has never recovered.