Member Info for Simms45

I see. I thought the LTIP was setup recently so if it was 2022 i understand the price targets 👍

Is it only me or is the share price performance targets for the LTIP a little tame? I would have liked to see a bit more confidence given Darren is talking a $2bn market cap in the medium term.

Lets hope we get some shock and awe updates as the shift to no news is fine as long as they drop the biggies. Years ago Palumbo pumped the stock on any news he could and came up with his infamous pipeline of pipelines around £800m that sent Eqtec to a market cap of £250m! Now we languish at barely £2.4m and actually have a load of probable projects. We are in a better project position than we were when valued at £250m. Certainly his rose tinted specs were in overdrive. So far cash is coming into business and rising so that is best news for shareholders as 2023 was a total wipeout.

I noticed yesterday that someone dropped £300k of Metals stock early doors and barely got an average of 5p. They must be feeling the pain as they left £30k on the table for others to pocket today. act in haste and repent at leisure springs to mind!

Need to remember there was a contingent of Condor investors who ideally wanted £80m+ cash for the resource but got a mix so are just exiting in a disgruntled state. personally i now consider La India to be worth £120m alone now we have organised the finance and got a mangement team to take it to production. So far due to headwind of Condor sellers we are just building up steam. This leaves no valuation for Runruno which even today must be worth north of £150m so it stands to reason that there is plenty of scope for a proper re-rate and doubling does not seem unlikely as we move towards a new confident Metals. its a shame we have the headwind but is a gift to those investors wanting to get in at the ground level. gla

We are all good in my view. We loaded up with £3m cash and project expectations on many horizons.,just need one to land and the rest will fall into place. Northfork, albeit delayed is an easy $5m bonus once its live and we get those assets back on our balance sheet. Fla

Looks like market is piling in on back of marriage value of Metals and Condor and exploding cash generation from rising gold. 6p could be a whistlestop visit before heading north. Bargain basement prices.

Metals is starting to fly again, hopefully now some ex Condor investors leave the building and churned over. Sadly going to miss the big re-rate as Gold prices take offand we press on with La India proper. gla

Good old Seingred, aways ready to crow about all his great investment decisions. If we only just listened to his pearls of wisdom we would all be sipping margharitas on the back of our yachts, lol! Hopefully once we have churned through the overhang we can move on as with gold pushing $2900 and market cap getting closer to £150m we might perk the interest of institutions and find some new investors. Certainly the current price is a gift if we now look to have secured a longer term future for Runruno. Not quite out of the woods on that one but very promising.

Hopefully the poor sod offloading under 5p has gone and onwards and upwards!

I focus on business value and the value created from Metals and Condor is epic. However one off events like Condor investors folding their hand at the table is expected as some were holding onto Condor paper for 12 years nursing a big loss but somehow forgot why they invested. As we progress La India build the mismatch between business value and current market cap will narrow. Certainly we have 15p of business value here already but it will take a steady flow of news to move towards that and remove some risks. Certainly gold is pushing ever higher and that is pure additional profit for Metals. Just $100 rise in gold is $8.5m extra free cashflow on 85k ounzes. All will make La India build that much easier!

Latest interims state

“ Stabilisation of Italia MDC reference plant”

I take that as positive :) but we have hosted many delegations etc so we can assume it is operating correctly. Its going to behave similar to Spanish site that has operated last 10 years. However would be nice to see some uptime data and more technical data and maybe some payments from Italy to Eqtec.

I think once AFC ratification happens the rest is pretty straightforward. If sell Saudi prior to March we also have plenty of cash to stop further placings that have been excessive and damaged Harrys credibility. If you look back last 3 years he has ramped the crap out of Kefi before dilution. lets hope this time he secures the deal by end of March. Obviously ratification seems pretty important.

Ill be happy with a 30 bag over next 3 years!

Banks refinanced Italy and specified many performance mile stones to get that loan over 10 years so i am comfortable at point of refinance things were at a level to support the debt. Furthernore we bought the land. However i am as frustrated as others that we have not had more robust operational updates but i think as we are 49% shareholder eqtec does not technically need to provide update as it is not included in our financial reports. We had early issues of jenbacher (not ours) and personnel training but surely it must be at a point we can consider stable. The lack of updates at this important “transition” is not helping as like many i would invest more with a steady stream of news to clarify all projects status. However eqtec said Italy was all good so since they have not issued any update to say otherwise we should accept it. Not ideal but all we need is a decent RNS and a bit of confidence and we could rocket north. Equipment order and we off to the races!

If you forget the past 3 years and look to the future Eqtec is in the best place it has been in based on clients and revenenue and a strategy that is working. Our revenues are rising, our overheads are falling, we have reduced our debt a little and we probably have £10m tied up with projects. The £2.5-£3m raised (inc mnrg share sale) will last a lot longer as we are in a completely different position to 12 months ago when we havd 0 revenue and far higher costs. The money raised will take us to September subject to revenues continuing at same rate. i am hopeful France will sign and we are in profit mode for 2025. Wewe have a dozen projects in different states and we only need a few to come good to fill the coffers. Hawaii looks very likely. I also think once northfork is live we can get out of that project and release possibly $4m+ cash or use as collateral on a loan. Eqtec has been through far worse times. The future is very exciting if you take the last 3 years as as very painful pivot but if you believe in the tech then if you can average down there is a good chance you make a good outcome in the end. Today is a classic case of buy when others are fearful because in reality we have huge potential.

Darren has created several value creating events recently. he is saying we have probable 20-30m tonnes of ore. Lets call it 2-3g a tonne and we are still looking at 2-3m ounzes of gold just from that one possible gold supply. There are several others so once we get more confirmation we can consider Runruno easily able to operate for further 10-20 years. There are plenty of investors on this board trying to get the price of Metals down to use their Condor cash to buy in cheaper but hopefully institutions and funds start to buy into Metals and fix the huge gap in the market cap. Just have to churn over the leftovers from Condor and hopefully once any investors are invested they can change their stance to look forward. cash is king and Metals are drowning in cash relative to market cap.

Mixed ore being gold and copper. Great news that it we have the first extension on paper with up to 15 grammes per tonne and plenty of copper! Onwards and upwards!

“VMS (Volcanogenic Massive Sulphide) target, at surface, with historical rock sample grades of up to 15.47 grammes per tonne ("g/t") gold, and 7% copper.”

· Target size of the prospect is potentially 10-20 million tonnes ("Mt"), based on internal estimates.

Just need to churn through the overhang. Find it amusing that people selling now at a PE of 1 are probably those who sat on Condor for 5 or 12 years hoping they would build the mine. I can easily see 10-15p later this year with some good news on mine build and gold sale values rising as we head for $2800. I think the last quarter had gold price sales around $2400 so maybe they hedged some of the gold sales but hopefully they will take full advantage of the current price to boost pfree cashflow this quarter. We have still not got the RNS on the mine purchase and whether this might reduce the build time as it is much easier to move mine kit that has been in operation as the build time is far quicker.

Metals is heading to become a mid-tier gold miner so i am happy for Darren and team to get out there and shout from the rooftops and get more instituions buying in now at the bottom of the Lassonde curve and build relations with investors. There is plenty of marriage value here so looking forward the news pipeline to start to realise that. Darren has already said the plan is to bed down La India and Phillipines before looking ahead and that seems pretty logical. As soon as they get to first pour La India will be worth £350m+ for starters and will be a very tasty cashcow. We still have some churn with some Condor investors and hopefully once the deadwood is removed we can crack on. gla