Member Info for Simms45

At this point in time anything to create and realise shareholder value is needed. Obviously holding Saudi was best but market values at 0. If we can sell for £30m we transform Kefi and stop all future placings. Also means we can be 90% shareholders of Ethiopia and do not need equity investors.

For example one of my brokers, soon to be ex brokers, have said 29th, which arguably was the agreed timeline in the deal. I am sure other banks are similar. I have seen cash land at another of my brokers so its not all released. I have since topped up as i am confident of hitting £100m free cashflow over coming 12 months and we are barely above that in market cap. If Runruno as expected will find new ore then market will have to run the numbers and see we could be a 250k gold producer in 2 years.

If we can maintain margins shown in last financial update we need just over 4m euros in revenue a year to be cashflow positive. Obviously with an equipment order those margins are less than IP and services but just one equipment order should make a huge difference. Just one of the dozen projects to land and we can move towards some level of self sufficiency. for me we need something to land this quarter to give shareholders confidence.

Bear in mind i suspect a lot of investors have not received the cash yet. We are at rock bottom of the Lassonde curve and just need diggers and 2nd hand mine on the way to start the re-rate.

I have a slightly longer term outlook on Eqtec and the shareprice is completely divorced from underlying value should any of the dozen opportunites come to fruition this year. Its an if but i feel a lot more confident in projects driven by Idex and Simonpietr, and even Phoenix, than i do about Eqtec and some snake oil middle man we had lined up for Deeside and Billingham. Hopefully update will start the re-rate and investors who averaged down could end up making a lot more back as the rise, should it come might be significant. Northfork alone is worth 2x our current market cap alone and that is almost guaranteed to go live this quarter as we have had updates from 3rd parties, not Eqtec. Obviously the dilutions have been a painful for this company and DP should have cut costs faster in 2022/2023 when he saw revenue in that period was heading for 0. We are hitting good revenue numbers and a equipment order can change the scoresheet in a big way. Gla

Personally if it means DP focusing on business and closing deals i would be very happy to see the back of any DP updates that have in the past turned out to be far from accurate anyway. His pipeline of pipelines is depressing when you look back at his double fronted rose tinted glasses. Fron the last Interim RNS we have many projects due for major news this quarter. Greece completion, Northfork going live, Croatia sign off, France deals to close, Tresca refernce plant, Hawaii further work. So many deals that surely some have to land this quarter and i sense something big might be announced as it has been very quiet. Generally when the board know something big is landing they do not mind the silence. when the board lack big deals they tend to rns anything that has a pulse. lets hope January changes the flow of momentum as i am a bit sick of .5 and the pitiful £2.4m market cap. Even £10-£20m is still a ridiculously low market cap if any of these projects mentioned actually deliver this quarter as it would mean we move closer to breakeven. Some of these deals would push us into rude profitability. gla

We are also at bottom of the lassonde curve as we head into the build. This is when institutions will pay attention and frankly once £20m of cash knocks around Condor investors over coming weeks (some received already) i am sure a fair amount of topping up will happen. Once we get RNS on mine build and mine equipment (apparently deal is done) we will progress up the Lassonde curve. I imagine by first pour we will be multiples of todays shareprice. Gla

We are expecting a lot of updates given many projects discussed in last interims and elsewhere talked about Q1. Fair enough we are only mid way through January but we already have secondhand news on Northfork in commissioning and some Spain deal but would like to know what is happening to our stake in Northfork since we revalued to 0. Greece, Croatia and France all due for value creating events this quarter but please give us some early New Year positive news. Surely after all the wild fires Trump can sort an executive order to build 50 Eqtec plants. Shame Northfork has not been live so it could get some airtime. We languish at £2.5m after DP did a rugpull on investors after news we got paid £2m. Had he not done that we would be 2p+ and then maybe he could have waited until end of Q1 to do his raise on much higher valuation. Why he chose that point is a worthy question given his uptempo promotion of the Logic deal. Investors all now nursing heavy losses at this atl and everyone waiting in news. Its a tempting buy in but many fingers burnt up to this point. I certainly want to see PIs owning 30-40% of Eqtec just so balance of power is kept in check. I do not know pi share of company these days.

Major update in my view, probably most helpful to investors. Important to hear paperwork now with investors so not long now!

“ Detailed documentation in hand across all of the parties “

Gla

Great Interview. £25m free cashflow each quarter at $2400 gold so that wil rise with combination of rising gold and rising USD. Runruno looks to be going to be extended. Talked by around 3-5 years. Very exciting times to be a Metals investor and waiting for cash from Condor to top up. Hopefully some of old guard at Condor investors can exit to give me a lower buy in price :)

I think $1bn on first pour at La India is very achievable. I can see a very near term rise of the market cap of Metals to around £300m. We already have the timeline set out and the team are already on the ground and most excitingly they have a very near-term agreement in place to buy a second hand mine equipment so it might be a much faster build if they can just ship and install one that was operational,opposed to waiting on all the parts and custom build. That might help speed up the build of the mine and we already have a $5m Mill that Condor already owns . Hopefully my cash will be available for deployment sometime next week, which will be very handy to top-up.

Yes. i only wish Metals distributed the cash before the shares because it is precisely these value creation events that will propel Metals forward. I also have a suspicion that there will be further big news coming in very shortly! gla. i am targeting 10p a lot sooner on the back of this. Even the NPV of Condor is over $880m from the calculations in the RNS!

Just what i hoped for

1) Final negotiations to purchase a second-hand plant

2) targeting 145k ounzes og gold oer annum

3) works start May 2025

4) production 2026

5) drilling in in April 2025

Everything i hoped for and more!

Impressive set of results for the rainy season! Looking forward to topping up. Next few days is likely to be the perfect time to load up while why some of the old guard and nervous nellies get worried the La India mine will actually get built and forget why they originally invested lol!. Come the £20m inbound cash element a lot will be coming back into Metals.

Bear in mind some Condor holders are able to advance purchase Metals shares before the £20m cash hits the accounts of investors. You can imagine what happens if just 10% of that goes back to buy Metals stock. i am putting it all back in Metals and a shame Metals did not offer a deal to take shares. Anyway just need to let some of the old guard of Condor, who are nursing losses after holding for over a decade, and oddly do not see that Condor + Metals = £1bn company in 18 months once La India has started production. Gla

As always watch what they do and not what they say. Metals so far has achieved everything it said it sould, completed a share buyback of 18% of company shares and maximised gold output of Runruno to circa 90k ounzes from a miserable position 2 years ago with comfortable 5x in share price. Now valued at 1 x Its yearly profit. Darren openly says he aims for a $2bn market cap company and that is about 14x todays market cap combined. I am inclined to think the management know what their doing and adding one more billionaire to the board and another 120k ounzes for Condor in 18 months gives me belief that if we can combine all assets together Its not unlikely market cap in 3-4 years with a good wind and some new resources in Phillipines. The investor call i hope sets the frame as Condor was a bargain and i hope the market starts to put a value on it now we have the mine ready to build. Once we hit 10p even Condor investors will be happier. Could be very quickly achieved.

Well played Metals. Possibly one of the best purchases you could make. Now its time for Darren to action the mine build and get the billions of gold out of the ground. Investor call on the 17th could kickstart a major re-rate if news on Rubruno extension and fast track mine build. I suspect Nic will clear the path to enable the mine to get built as quickly as possible given they waited so long and locals have been waiting for jobs. Full steam ahead!

Please finish your Condor non alcohol bitter and get ready for some Metals full strength special brew. Things are about to get a lot more interesting!

Fairplay broomtree. Sounds like you timed your exit and buyback perfectly. Some of us dont quite manage that and work on the basis of creating value. In this case converting some rustic land in the middle of Nic into into £2bn of gold production. looking forward to that personally.

Darren and Metals have investor call on the 17th. From what he was not allowed to say in previous call due to takeover he is keen to share. If its the extension of Runruno Metals will motor forwards. For all those jaded from the lack of action from Condor over last 5 years there is now going to be plenty of action. It amuses me to think people who have been here a long time consider leaving just as La India is about to be announced to be built and Runruno generated 90k ounzes could be about to be extended beyond current 3 years. If we did a straight JV we might have ended with 50% or placing and debt i am sure similar dilution. Here we get a cash strong gold miner with the key team to make a difference. When Metals is valued at a PE of 1 they are massively undervalued and i suspect this year Metals with a good wind could increase many fold and finally reward Condor investors, who realistically was only going to extract real value once mine was underway. If mine was not built its just a large piece of land. Gla. Things are about to get exciting!