Member Info for Simms45

There is no update on the HK listings website and there is a considerable backlog from what i can with applications submitted months before CNEL that are not updated so is it not more likely there is a delay due to Covid 19? Just an expectation based on the list you might imagine they are processed sequentially to some extents.

An interesting article just released purports to the idea that to counter the Dodds proposal Tribals are still trying desperately to table their own plan in time to get on the vote. This is interesting because both options are great for Webis as both proposals include horse racing fully. However i still suspect this is classic tactic by the Tribals to try and extract the concession they want out of Dodds as i think the State of California are keen to extract the revenue and keen to get this on the ballot. Would be nice to think Dodds and Tribals agree something by next week and go together into the vote with an amendment that seems exactly in line with other states. The tribals have spent money and do they want to spend a lot more money on their own plan when Dodds has already teed it up. exciting times for WEBIS.

https://www.legalsportsreport.com/41872/california-sports-betting-initiative-2022/

If Eqtec can meet the global needs of waste to energy better and more successfully then there really is no end to their potential growth over the next decade and agree this share could continue to rise for the foreseeable future and getting confirmation of that order book being realised will decide the trajectory they might take. The question for me is can they seize that market growth and can they compete better than others in the market. would be interested to know who are seen as the direct competitors as i felt their technology was nicely focused on certain verticals to convert waste to energy at a company and municipal level and for me that is exciting. Most energy to waste providers are focusing on large scale and very capital intensive and custom builds that have long lead times, significant planning delays and high financing. i just feel Eqtec are perfect sized and proven the model but is there a direct competitor targeting the same waste to energy niche?

If you look at all the other states who have legalised sports betting the general model is exactly what Dodds is proposing but excluding allowing card rooms to impinge on the Tribal monopoly

https://www.yogonet.com/international/noticias/2020/03/06/52553-washington-senate-passes-tribal-sports-betting-bill

My bet is Dodds put that in purposefully at the start to trade away this week but the real win for the state has always been opening of the online sports betting market. That is the big Kahuna of revenue generation. Washington and many other states got this over the line by dropping the card room option for another day.

I hope the Tribes/Dodd/State of California will come to an agreement to drop the card room proposal and in return the Tribes will drop their litigation. They cannot feasibly holding back hundreds of millions of dollars of tax receipts from sports betting. What happens Webis is quids in as no proposal put forward by Dodds or Tribals excludes race tracks. This should reach new highs before next week.

i had first hand experience after a few contacts were looking to invest in Condor through TSX but they said it was no point as the volume and spread was ridiculous and made it too risky so they went elsewhere. I am sure that has been repeated many times over the years to the point we have no volume on TSX. MC should have done a raise with Ross on TSX long ago or done something to make sure the MMs have a lot of stock so they could offer a narrow spread and volume. Definately a can do better. Seem some great past investments that often worked around the clock with US and UK supporting moves up and down although could keep some of us late watching so perhaps not so bad to personal health :)

For a stock with so much riding on next few months of updates (Maiden Jorc Resource/ANS dance) it is quite amusing how it KEFI has achieved an almost flat line at 1p. Quite a find :) The way i read Harry is that he is sincere and perhaps moderately too optimistic. Talking to a government is sadly not the same as a single investment company as they have different motivations and ideas of timeframes. The EG government are more interested in political standing and upcoming elections so this is why i personally think the EG will deliver shortly because just as in the UK PPPs are big news stories and for a country in the grip of a downturn if the government can look smart and put money into infrastructure and projects that can be seen to help an economy out of its troubles this can help in their re-elections. $2bn of total revenue at current gold prices over 5 years today is a big deal to Ethiopia of which a good chunk of that will go to the government from their stake in the project and tax revenue, not to mention job creation and staff tax receipts and kickon vat from what they spend their money on....... Ethiopia total tax revenue was only $8bn (less than the UK spends on a single hospital) so you can see how easily this project is big. if gold prices rise then that income will only increase exponentially. Harry does not control 3rd parties and governments as tightly as if it was a single company so this is the extra risk faced. However i am still very very confident we are in the right place at the right time and i am not holding Harry to end of month given the head winds of Covid but i hope i
am surprised but we know the roads and power are being built for October contractors to arrive and we know Ethiopian elections are end of the year probably. i suggest the EG will be pushing hard to make this happen as votes matter.

Some great points Topmoney and fundamentals are looking great i agree. on the flipside those fundamentals have been the case for at least the last 3 years and shareprice has been between 1-2.5p regardless of all the fundamentals. I am just weighing up the behaviour of how small pis will behave as they might have already exited already on any previous correspondence or they may react once the delisting is confirmed. i do not think many pis with smallish holdings will move to HK as their holding compared to the cost of repatriation and hassle will not be worth it. LSE investors aside are a small proportion of overall pis i suspect. This obviously flies in the face that this is an undervalued stock but then again i am drowning in undervalued stocks at the moment :) The market is the market.

One of the best indicators of a strong share price former is skin in the game from management and staff. I like to see BOD and staff aligned with pis desire of higher share price. These warrants are over £1.5m of shares and individuals will have to meet targets to be awarded these and stay with the company x years so often many of these warrants are never exercised. However i am a fan of staff ownership, as opposed to 3rd party investment because every single member of staff included are all aligned to close that sale and complete that project on time. They are also aligned against dilution because that would affect them directly. The other benefit is that they need to pay for these warrants so technically if all warrants were exercised that is £1.5m extra in the kitty from a friendly source . Most of the resultant shares are them held longtime or in some cases a certain proportion are sold to pay for the warrants but there is also often strong restrictions on the sale of those ordinary shares with long lock ins. AIM is littered with BODs with no skin in the game and continually raising equity and making their money from salaries then at the point they see the future being great, award themselves ridiculous numbers of shares and deeply discounted rights issue amongst themselves before takeoff and once pis have been rinsed. nice little dip to topup.

This is what i expect that CNEL will do a raise for probably £10m+ on listing and this will dilute shareholders in the UK and ensure the $50m listing requirements. Why would any company leave money on the table and they have consistently said they want to raise money and it appears that is their plan. I completely agree CNEL will have far better support in HK than AIM but i feel this idea of 11p a share is not accurate. I do think though that a lot of pis will be those investing less than £1k and will likely sell and unless there is someone buying in large quantities you might see the price falling towards a new listing and not rising but maybe not if someone is very active buying.

Have to remember if you have had a monopoly that has made you rich beyond your wildest dreams and someone is proposing to break up that cosy existence for you and your friends then you make some noise and they have plenty of money to do that with. However this is largely 50m people against a few hundred thousand. The tribals know they are on the ropes as for the first time this is about a state that desperately needs cash so i think they know they need to make a deal next week as regardless of the minority you would expec this to go through on common sense. Obviously caveat beyond the US where odd things happen. i for one will continue loading up as just the fundamentals underpin the valuation. The boost from sports betting is the cherry on the cake.

Does anyone expect that when they get a listing in HK that will not coincide that with a fund raising exercise to ensure they have a shareholder base in HK and perhaps how they will meet this $50m minimum valuation? Is there not rules about local pis being shareholders when a company joins the index or is it ok if all pis will be in the UK? Assuming you can list with no local HK investors is the expectation that CNEL will list, wait a period of time (hoping for uplift in share price) and then do a capital raise as their previous RNS have said they wanted to raise money but did not because the raise was too dilutive due to the share price? finally CNEL have only ever fluctuated between 1p-3p for last 3 years and no one seems to have valued the company fairly granted. However it is therefore hinging heavily on this idea that the HK will automatically re-rate the company fortunes and why would HK stock exchange consider that a company trading at £24m today is somehow worth £40m in HK? Also i do think logically, assuming listing is granted, that smaller pis sub £1k might sell their holding because of the hassle and cost of selling in HK? i think many would so would the listing not actually lead to a drop in teh share price? sorry to throw questions about but grateful for the lths to correct me or not. i am a small holder but asking myself these questions as when things look too good to be true often it is.

Still very odd that so far today, assuming the mapping is correct we have
Vol. Sold 1,636,727
Vol. Bought 3,591,589

but still down at the moment? Thoughts as to why?

We know Eboiss are now out so the forced seller is gone. we know the company is absolutely in the sweet spot of waste to energy technology with proven technology and great partnerships and subject to confirmation we have a £120m+ pipeline of orders (would all like to see an RNS to firm up that confidence). We know the post Covid government splurge in Europe and gobally is all going into infrastructure and much of that into Clean tech and we know companies are changing their ways. Eqtec have proven it is now profitable for companies to turn their waste into energy and sell back into the grid. Eqtec are not only in the best sector but we are valued at £22m with profitability looking very positive from the forecasts? That is ridiculous to me given the leverage potential to take Eqtec to far greater things. My worry is that the demand for Eqtec services will be high and Eqtec might not be able to maximise the opportunity globally but i hope through big strategic partnerships they can deliver and focus on their tech and become a globally important business. With positive newsflow there is no stopping where this can go over the coming months and years.

I can see what has happened now. Early doors someone dumped a reasonably large holding and this has only just been shown in the recent trades. That explains the 3 to 1 buying this morning but still a small drop from a probable single seller. This overhang has probably now passed. While as a Webis shareholder we can hope Dodds does a deal with the Tribals to get their support in the case of Webis we win regardless of what proposal is secured for Sports Betting. Personally i suspect that once the $53bn deficit has soaked in and decisions are having to be made to big cuts to public services we can imagine they will be rummaging around the Suspense folder to help fill the void with cash generation ;)

Its not an 'if' its a 'when' will sport betting be legalised in California. Both the Tribal proposals and Dodds proposal are so close.

Tribals want casinos and horse tracks but not at rival card clubs or online.
Dodds wants the same but include online and to give card clubs some concessions.

Key is that both proposals offer the route for horse racing tracks to access sports betting generally. That is crucial for Webis shareholders.

The tribals are against the latter part mostly. Guess what i think Dodds will do in the next week? Might he offer to drop that latter? Obviously he knows he needs to sweeten the deal to make the Tribals remove the litigation. No one is dropping online as frankly that is 90% of the revenue for the taxpayer and majority are in support. It is the threat of litigation holding things up.

Ultimately the back wind of $53bn losses and cutbacks to public services means there is much stronger arguments to allow California to access billions of revenue to keep schools and hospitals from cutbacks. What we have is a small minority of Tribal casino owners rextracting monopoly profits at the expense of public services and somewhere they can find some middle ground so California gets the money they need and Tribals can continue to make billions in profits themselves.

I will continue to buy as given there is at least 3 times more buying today that selling it is odd where we are this morning but great opportunity for those who take a different view on the outcome in the coming period.

Exactly as expected we got the nod through the committee and onto suspense where they will check the economics of the measure and make sure it stacks up. Pretty simple as its a $500-$1bn revenue vs maybe $1m in operating costs but that is largely the point of suspense. In the meantime It gives Dodd necessary time to tidy up and sweeten the deal to Tribal casinos and then thats it. Once past that rubber stamping exercise sports betting would become a ballot question in this November’s general election. This is a massive step forward.

I am hopeful ANS are not going to turn up with bags of cash but joke aside liquidity crisis has been around for sometime and Harry most recently referred to this but Ethiopia G know the quickest way to sort their coreign currency reserves is accessing $2bn of Kefi gold and get this project signed off. If ANS are not stepping up EG will take on their stake. This project has greater meaning by the day.

You can enjoy the exciting live coverage https://www.senate.ca.gov/media/senate-tv2/video?id=182411

GLA on the vote later but just like the legalisation of Cannabis in California, that was supported by Democrats, i suspect the same will happen with Sports Betting. There are many parallels in the arguments. it is going on anyway so legalise, control and extract billions in taxes. With 5 Democrats to 2 Republicans making the vote i would say the omens look good. if it falls then at some point this year the right mix will be found and Webis are waiting in the wings.

Indians are threatening litigation. It could tie up issue for years so Indians need to be onboard at some point. However Indians will negotiate to make sure they come off well. After tomorrow vote there is 16 days before its signed into public vote. Therefore plenty of time to swing their opposition imho. However its just a hunch :)