Member Info for Simms45

We just did a £5m raise in March so my understanding is we are good. Also bear in mind he will be organising equity investment as part of final definitive agreements so i expect everything to happen at once and not for any small raise in the interim as that would derail and require a whole lot of further paperwork. Should all come together in very quick order once we get second bank signoff that appears slower than expected but could be related to Harry asking for more debt to keep a bigger slice of the deal. Hoping for next few weeks to get the steer on this.

Bear in mind Mako mining digs up a pitiful 12k ounzes of gold a quarter and worth $190m with low reserves. Nic are increasingly attracting investors from all over the world and next month when Trump gets in Nicaragua will be US friend all of sudden. Things will rapidly change and hopefully Condor will see its payday.

Getting to point now a few shareholders could join up and buy Eqtec, swap DP for Le Saint and get us back to £200m. We have £200k a month service revenue and just one equipment order of £10m would give us 25% margin and profitsbility in 2025. We just got £3.1m in cash to give a decent runway but now below that in market cap. What is going on.

Just need to wait. MC said we have “quite a high non binding offer” from the chinese. What that means in value is sadly not disclosed. Is this £100m/£200m/£300m? as at current gold prices ebitda is well over £1bn. sadly the 2 years sale process has not valued the cost of time for everyone and the millions spent. Its now at a point where if offer is not £200m it is going to look Low given a gold loan could be more easily source for £120m and the loan could be repaid fully on less than 9 months from production. By which point our mine would be worth £500m and easily able to pay out £100m a year in dividends for 10 years just on what we have today. This assume MC does not have ambition to buy mines or do any exploration drilling. Just run it for cash for 10 years or sell midway for £500m. No need for dilution given gold loans are plentiful and a JV is so obviously what should have been done from day 1 of seeking a partner. With gold heading to $3k it allows even MC to build a mine snd make mistakes as it covers up mistakes nicely. Always pained me when MC gave the excuse they dont know how to build a mine. Thats why you hire a team who does. Ever got an architect and contractor to build a house? its possible.

And back we rise. Looks like some sneaky trader stirring things up and using the low volume to their advantage.

Very odd and depressing. almost no volume but we drop 25%? Eqtec have £3m in the bank and we have a ton of possible projects ahead. we need news of these being signed and delivered but it is hard to understand why the fall given only £3k of shares have changed hands?

I suspect there are difference of opinion of live. I suspect we have tested and had it operational enough to generate biochar. Maybe not yet at the full operation around the clock but it is critical Eqtec keep investors up to date on a project we hold about $5-$10 in equity once out of chapter11.

As to insp it was 95k upfront and no reason it is not now repayable now insp have become a cash shell or was it a disguised bung and then i doubt eqtec will chase it. Hopefully they will chase and then get the caah back.

Not if you JV. Calibre invests $120m and Condor keeps 50%. both parties share the spoils and Calibre get paid back their investment in 12 months from agreement to truck ore from month 3 to mine. its a free mine deal for Calibre. Maybe another miner has some cash to deploy but its obvious to get best outcome for Condor we should keep a stake as we are looking at billions over life of mine. Would take a £150m cash offer today though but medium term a JV derisks for buyer snd seller.

Eqtec have every chance to recover from the current £3m market cap. This is an anomaly and the result of a death spiral of placings that the management should have a better handle on. Greece and Northfork alone will add considerable value to Eqtec and both less then 3 months away. I still believe a minimum market cap if DP had not sent Eqtec into a equity dilution nose dive would be £25m+ based on comparable companies and once Northfork is returned to our Net assets we will still be trading at a discount to net assets. When France and Hawaii are signed off then £50m+ will be a low valuation and we might reclaim some momentum. Chasing hype, without substance, is simply a zero sum game as those who enter early exit and take money from those who join later into the curve. Eqtec had that in 2020 on the back of bluff and nonsense from the board of its UK projects it trumpeted.

Now at all time high of $2.3bn market cap and sharprice of $2.80. Condor is now not even a 10% dilution if they did a all share deal and immediately add gold ounces. I remember it was on 3 months to get ore to mine. This could cost Calibre 0 cash and they could generate extra $150m cash from sale of gold in a single year. Will this finally happen or will China win the prize? I hope we find out later this month or November at latest but really how expecting a heftier price on back of long medium term gold prices.

I would classify as blessing in disguise. Presumably INSP have pulled out and now as a cash shell have cash to refund the £95k paid. while it was deemed non refundable INSP have pulled the plug. Also we will not be committed to purchase anymore. Yes it was a disguised backhander to that friday night placing but i hope draws a line under this.

JM would he smart to not undermine shareprice if he wants the valuation gap to close back to 36p. All his warrants will get converted once sold so he will be quids in and his drip drip of warrant triggers are not entirely helpful. We are led to believe we are sold this month or certainly before December so i am sure they will work things out. Bear in mind they might try To beat the cgt rise end of the month that while not affecting majority of investors it will have an impact for some. With a new high offer tabled recently maybe this can be binding this month.

I agree. I took the following answer in the recent Q&A to presumably mean second bank sign off and definitive agreements with investors? If we get this done happy to drawdown cash by December.

“Q: In the Interims it stated Q4 2024 for sign off on Tulu Kapi, but are we still on track for October?

A. Yes, for the bits due in October.”

I dont know how the price has not rocketed given all the buying last few weeks. News soon?

Interviewers never ask the right questions sadly, as they are paid for by Eqtec so merely broadcast only. All investors want to hear is signed deals and money coming in and reasoning behind last placing that appears unnecessary at the time and has totally trashed the shareprice, yet again. It is hard to listen to him given he personally orchestrated the placing, presumably knowing full well the impact it would have. Hawaii sounds that 2 more deals are incoming and CompactGTl seems close to a deal or two. When he said “watch this space” i hope he means signing new deals and equipment sales and he did not mean trashing the shareprice with more placings to unknown investors who seem to not hold onto Eqtec for long.

I think the company will exist and be very valuable. The question is whether PIs will be included or whether DP is or orchestrating selling as much of the company into the hands of connected parties on the cheap. We have plenty of orders incoming just based on the shere number of projects moving along and some will come off. Northfork is guaranteed now and hopefully new projects secured in the US as 2-3 are in play, France seems almost odds on for Q1 2025 with Idex and Hawaii is looking better and better. the only silver lining is DP cant now do a placing for at least 6 months and maybe his connected parties at Altair have a big enough stake to make a significant amount of money. I read DP has advised on real estate for Altair and wonder if DP has a few nice houses or will have :) If he is acting against PIs surely non execs and FCA will be investigating any links. He just needs to stop doing disastrous placings with investors who simply offload. If eqtec announce a incentive scheme i want to see ot linked to reaching a share price of 5-10p before anyone gets any stock. Anything else you simply understand what is going on and DP should be ashamed of his discounted placing on the day of the settlement announcement. Totally against PIS as no information why 66% dilution was needed at that point. we would be a £10-£25m market cap company if DP had not done that rights issue by end of year with Northfork. Now i am guessing any news will be sold into. DP needs to come clean for his own consciounce as going quiet shows his cowardice.

Also go figure who dropped 2.5m shares today. Its not a lot in the grand scheme but had an outsized impact. Issue is when DP issued 250m shares to investors unknown, or maybe known, it only takes one to exit and continue to drive the price down. Seems to happen like clockwork sadly. DP needs for once in last 2 years to announce some real news to change the narrative. we have literally a dozen projects in play so he should be aiming for a steady flow of news.

Shame DP did not address why he attacked the share price on the same day as we received £2m as its the first time he has showed his face in almost a year! Nothing i can see in the interims to suggest we needed to raise at 1p and not use positive news and interims to have raised our market cap back to £10m before a raise next year on back of expected news. As we trade almost 1/8th of net assets it was purely manipulation by DP to make sure Altair and Pitcole were able to fill up and i suspect we are days away from DP announcing his own share incentive plan at a crazy low strike price to poke every PI in the eye. Is the FCA investigating? DP should voluntarily not participate until private investors have got back some of their losses, some who have lost as much as 99% of their investment on the back of DPs destructive placinbgs into those who have proved time and again to dump stock. Set against this the potential is huge but delivery is all what matters. We have the reference sites live, we have Northfork in a state of going live, perhaps hot commissioning. We have £2.5m in the kitty and yet we are only today a £3.9m market cap. We should be £50m market cap company but if DP continues destroying the company and the FCA cant stop him what options are left? can the newly formed board get to the bottom of this? Gla as while we should be 10x that would only happen with a CEO who can be trusted to look after all investors and not just himself. altair and pitcole.

More decent buying volumes. Someone is filling a very large order but seemingly getting away without the price spiking upwards. Wish i had their timing to buy in now and not had to endure last 5 years :) hoping to rejig some investments to buy in and hope to do so before a formal bid is announced.

Can someone explain that we have had millions of shares change hands last few days and most looks buys but we have not budged? Its obvious someone knows something and buying large amounts but can MMs hold such a big stock of stock to offload and hold the shareprice where it is as these levels of shares have not normally been available. Perhaps some of these trades are sells as bid/offer is very close, again something we have not seen for a longtime. Maybe we are weeks from sale as MC said in the webinar, although it was meant to be his expression that it could land anytime. £44m market cap and probable $150m+ deal would make this a 3 bag in a short period of time.