Member Info for Simms45

Hopefully he can share more information on extending mine life of Runruno and how soon Metals will start works at La India and timeline to first pour.

I actually sent an email to DP a month before the MNRG share sale as i had a feeling he completely forgot or there was some gentlemens agreement to do not trigger but certainly good he did and cash in. I am certainly frustrated more is not being done to close deals and reduce cost base to give time to conclude deals. Also enquired if he got back the £75k deposit on the Inspirent order as they pulled out. Surely that should be forthcoming now they are a cash shell. Never once had any response to any email sent but i am sure he reads. We must be due some update pretty soon as there is so many topics in the last interim RNS. if they cant spin the latest wildfires in Los Angeles into a wake up call then i despair. We know Northfork is set to go live this quarter as Northfork have announced it. This is a biggie as we valued out 25% as 0 while in chapter 11 and if all comes good this could be worth $5-$10m and generate good cashflow. Wood gasification is where Eqtec understands the most so at least focusing on proven technology as we have been doing it for over 10 years in Spain successfully and led to believe Italy is operating well enough to ensure we were able to drawdown a 3m bank loan. Greece is also commissioning so should be announced to go live this quarter. Croatia is expected to close their finance this half. The elephant in the room is France projects including Gardanne and Limoges and we are led to believe that only a planning change was needed and in Gardanne waiting on France subsidies. To me that is fishy as frankly a project should not be determined by subsidies but i guess they are using it as leverage to help speed up the government and get the best subsidy they can before announcement but at some point they should get on with it. Tresca biomass should get announced soon as Tresca already did but nothing new from Eqtec. Hawaii is a driving plenty of work last 6 months and we should expect something bigger to come of this. We got the £3m in the bank from November and plenty of possibilities and only valued today at £2.5m. Now is the quarter that DP needs to deliver more so than any other. We have sunk probably £50m in Eqtec and not all of it was sprayed up the walls. Some of the investments like Northfork should come home to roost and give us a stable path.

If you hold Condor is your ISA then the CVR is simply transferred out of the ISA. No biggie as far as i can tell, apart from having to pay gaind when the 5-10p is paid out over next 4 years. Certainly does not mean anyone holding Condor (soon to be Metals) in their ISA need to do anything.

I hope in a month most investors might be into the black as Metals should start to motor forwards as it cant stay where it is as it is grossly undervalued on all metrics and we offer a path to long-term cash generation of several billion over 8 years production. Its painful if you do not average down and take advantage of all the placings we have had but share price has been very poor over a extended time so i totally get why some will have had enough but plenty more will see now is the time to take advantage of the huge synergies and profits of Metals.

My broker said 31st Jan. its 14 days after 15th but i guess broker needs a day or so to organise.

Personally i will be reinvesting all my ash immediately i receive it as i want to see the upside of the marriage between Metals and Condor. Metals has as PE of 1 and Condor was massively undervalued. Put them together you have a mid tier gold miner. it is odd for me to think that anyone who invested in Condor for a decent length of time would now exit just as we are about to move into 2nd gear. we had the 10 years of inaction and now we have th e1-2 years of serious action. MC once said that with the SAG mill the build could be quicker than 18 months and with Darren and his extensive 10 year experience in South America with MC doing some box ticking we might get a fast track mine build. That is the hope anyway. if you sell early i will be happy to take them off your hands as this will be 10p+ very shortly after the deal because we the market will now need to properly price a business that is set for long-term success and i hope no placings. They have already bought back 18% of shares bosting eps.

Should be 34-36p as i would put 2p at least today for the CVR as i just see it as a 5p dividend in 2 years time, which is equivalent to a yield of 8% if you spread the 5p over the next 2 years. Metals now over 6.2p. Hopefully by year 3 Metals can start a dividend. There is a still a good chance that some of the 5p extra will be paid on more gold found as they know where to look and Jim will be crracking the whip to get that sorted asap. I have a feeling we will get the full 10p in time and i just call it a 8% dividend for a 4 year period at today price.

Just a RNS confirming La India financed and build started should help propel Metals to 10p. Its an incredible asset that has no end in sight in terms of gold. On first pour should easily be valued $350m alone and plenty more after a full year of production to confirm the reality. If Runruno can extend its mine life, as i hope, no reason to not factor in similar amount. Can see with some additional growth a $1-$2bn market cap not unrealistic in 2-3 years and with a good wind. I think 10p is very achievable in the next 3-6 months, maybe sooner if runruno gets extended and La India underway. Gla

Metals now past 6p so Condor shares should be 34p excluding CVR. While not for a few years its worth 5-10p so its odd we are not higher than the basic offer but i am sure some Metals investors can see the discount. Timetable seems to show cash will drop on 16th along with new Metals shares. Still a few weeks for Condor price to close.

If this deal was cash at this level it would be disaster for Condor shareholders as it is massively undervalued. I am disappointed we have any cash on the way but to realise the value of Condor we need to build mine and thats what Metals will do. Once we get that announced we could sail past 10p and Condor shareholders can consider the sale nearer 50p, which quite frankly is where i suspect we will be. Key for me is getting my cash back into metals as soon as practical as the value of Condor will finally be unlocked.

Looks like this incredible deal will go through in the next week and Metals and Condor can combine forces and all shareholders can benefit from the marriage value of a cash cow Phillipines mine that has a depleting resource with a behemoth gold opportunity in Nic that will output gold for easily 10-20 years. Nice deal for all investors and i can see Metals at 10p minimum share price once we get some news updates and mine build underway. Looking forward to investing the cash from the deal back into Metals as combination of both companies makes Metals hugely undervalued.

Rising fast on the impending massive marriage value of Condor. We know Condor was was at least £150m so we might just get that valued added to Metals that have the seasoned management team that deliver. Remember board did a share buy back. You know a good management team when they buy back shares as opposed to a placing and i am sure the focus is on creating value asap. I am hoping for a news announcment on Phillipines mine life extension and a mine build underway. Both big news that can catapult Metals to a new high now it is about to smash 6p

When and if any news lands that moves eqtec closer to a path to break even we can rise back to a £25m market cap company minimum. Yes DP has diluted shareholders and seemingly done a fair amount of company destruction from making Eqtec a pariah stock but stepping back we have the anomally that the market cap can be argued to be completely detached from underlying value and if investors can smell an end to dilution and a decent deal lands then even 10x from today is actually still a terrible market cap for a company that could be worth a lot lot more. Yes so many caveats and im down a decent amount and averaged down too many times but i can see this quarter a decent slew of news should be forthcoming. If not DP cannot survive what would be seen as a disastrous 6 years. However i have a feeling things are about to get very exciting.

On flipside Condor investors never got the expected value and i suspect a lot will reinvest cash in Metals lets face it Gold has a long way to go in company valuations and UK market does not have so many gold miners that are leveraged. investors who do this might exit with a far higher price in short time. Problem with Condor is as it had no revenue it had a limit based on also we were stuck at 20-30p. Now with Metals we have $200m excess cash and we have a decent marriage value to make Metals a mid tier gold miner in 3 years . Board can ramp with confidence once deal ignites. Some might sell but they will kick themselves.

As expected Metals about to top 6p so makes Condor shares 33p so s good discount still at play not to mention the 10p brucie bonus for some hoop jumping. Key for me is marriage value as this is 1+1=3 deal so should a good rise once deal is finalised. Taking Phillipines cash machine possibly drying up in 3 years and marrying with La India that has 10-20 years minimum. Nice deal for all investors. Enjoy filling boots while price is low. Gla

As a condor shareholder i will be happy to finally be part of a company generating cash and delivering on what they say. i think Condor was 12 years+ without generating a single penny and La India was not exactly virgin territory as it was a gold mine for 50 years so should have been built years ago. mY hope is that the Conbor asssets will be properly valued as part of Metals that has the team and cash to get the mine built. I am thinking 10p is not unreasonable over the next quarter backed by some good newsflow on mine build plans and then further growth subject to phillipines mine plans.gla

While we are down we are certainly not out. Q1 2025 should be the quarter where the mood music changes. So much news is bottled up as far as i can see. Greece should go live, Northfork should go live, Croatia should get funding, Wilseyville should get financing update, Gardanne, limoges should get sign off, Tresca biomass should get otl as it i was announced by Tresca but not Eqtec, Hawaii is filling uo with work and possible financial close. Just Northfork and Greece being confirmed live will be enough to significantly boost our way forwards. All we pray is DP keeps his hands in his pockets and does not continue his placing death spiral that has meant 2024 no investor was touching Eqtec with a barge pole as DP failed to not cut costs far quicker in 2023 when he should have. 2024 he made some cuts but more were necessary. I hope closing UK operation and moving to Spain will have saved a lot more n the latter part of the year and some headcount was chopped. We have over £3m from last placing and Logic settlement so we should be good way into 2025 so my view is now is the moment to review as with barely a £2m market cap if this was a private company, and not valued based on fear or greed, i am sure we should be well north of £30m valuation. If Eqtec can deliver in Q1 then we could be a big winner in 2025.

As expected as the Condor deal now seems guaranteed for Metals they are pushing north. I do not see why we should not be worth 10p over coming months but a nice discount today of over 10% just on share part of the transaction alone. Its up to a 40% discount if you factor in some value for the CVR that looks that 5p is nailed on but we are led to believe considerably extra ounces in the 10m district. Get some Condor stock while they last and keep an eye on Metals that could move past 6p very shortly.

While deal will sail through i am happy we will hopefully get a slew of RNS to confirm mine build is underway so we can recapture so of our lost opportunity and 2 years of very little. However voting is based on 75% of who bothers to vote. 90%?of pis will probably not vote because no competing offer emerged so JM vote of his 25% will probably give him 90% of the vote, given so many pis will not even have documents. Missed opportunity as i think Metals would have improved offer if Calibre entered but i am very confident Q1 for Metals could see their valuation double. gla

Yes. This ship has sailed but at least we will build the mine and we will collectively own 34% of the enlarged company that is already generating $160m of free cashflow that will get directly invested into mine build. So far Metals have not done any placing and in fact historically bought shares back. We could strongly correct as market will revalue the Nic project and between now and first pour is normally largest gains for shareholders. Obviously im annoyed as much as anyone this basic deal took 2 years when frankly a shareswap arrangement should and could have been sourced immediately rather than wait and hope Calibre was coming to make an offer. Calibre are the biggest losers as they basically threw away $1bn+ on not finalising a deal. Very poor from Ryan and JM to not get that deal done as it cost everyone a lot of money. Metals will shortly announce plans they are holding back so no reason we cant move towards a 10p target for Metals on back of Condor asset being realised finally.