Member Info for Simms45

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.

Very odd day when it looks like £180k bought and £3k sold. However someone might have tried to take advantage of the arbitrage today but tomorrow we should see some decent volumes and price movement as we look to be seriously into last few months after MC announced a decent offer just made.

So much buying today but we barely budged. In the past we would have jumped 5p so it looks MMs had stock. Hopefully that is now all gone and we push a lot higher. Deal could land anytime.

I think there is cause to be somewhat optimistic. The H1 loss was only £125k against a £1.6m loss same period last year and cash in bank and debt levels were comparable. if the Romanian deal starts paying soon then we could see a small profit in H2. The China stimulus has led to 20% increase in Hang Seng and lowered interest rates so this will hopefully filter through to deals making sense. i think the only frustrating part of global Ethanol prices have been subdued but at the same time this also promotes the more efficient plants over old ones. CNEL has some great advances so it might help strategically to improve margins of operators. The Zhonge Green 25% stake should also bear fruit. Given we are worth tuppence we just need some serious order to be confirmed and a return to profitability and we should start to recover the drop from the launch of CNEL at $1 but i am not expecting a quick 10x here. Would be happy to just see the company share news with shareholders and be more open on its R&D succcess for fuel and Hydrogren that seem to be barely mentioned but could be huge in the future. CNEL suffer from living too much in the shade and they need to bang the drum a little more.

The shareprice matters. at current 21p we simply will not get offers above 50p, regardless of real intrinsic value of project. At current price it must completely undermines JM who is looking for $200-$300m+ and MC talking $900m at $2500 gold! still a bargain, but buyers will simply refer JM to his company market cap as to what the market thinks is the value and conversation takes the slow boat. Obviously a massive disconnect in value but unless share price starts rising we risk not securing a deal that will meet JM expectations and buyer ability to sell the deal to shareholders. JM has not helped by his steady 15p warrants etc as opposed to lending and comverting equity on sale (much better solution) but unless we get back to 30-40p+ we cant expect higher offers to come in. Love to be surprised at £1 offer but to help investors need to buy in. We know Calibre can today do a tiny 10% dilution and take Condor for paper at $200m. Calibre constantly complain their market cap is no where near its Canadian competitors and blame Nic so derisking Nic and getting overall gold production to 500k earlier and payback in 12 months might add $500m+ to their market cap. Calibre, in my view, are losing out just as much as Condor as its hard to imagine this paper deal would not boost Calibre market cap substantially and for no cash outlay. I am starting to think there is personal issues going on as to why paper deal has not happened. Calibre should also be wary of China buying in next door as they will happily apply pressure on Ortega to make life more difficult for Calibre. hopefully we conclude a deal by end of October to beat possible capital gains issues for shareholders after Autumn Statement that might wipe 10-20% from profits.

Really excited to “co lender's credit approval which now includes a discussion in respect increasing the financing amounts on off” which gives us the green light and now potentially topping up with more cash that could give us a larger stake. I am thinking now just a few weeks to get this signed off as generally once all credit approvals are in place this is when you talk about a little extra. Looking like a very busy October!

I have raised concerns with relevant parties for reasons for the discounted placing and debt for equity on day of settlement but no one has responded . There is nothing i can see why it was done as with £2m settlement We had enough cash based on working capital for well over 6 months based on current cash burn and we are led to believe big equipment orders are incoming in Q1 2025 and some maybe before this. Adding £1.1m extended that considerably sure but at a HUGE cost to the company. I am sure DP would argue he needed 12 month runway and money to front any upfront costs to equipment but i understood clients all pay in advance and we had still loan money we could drawdown when needed. It certainly looks to be a strategy by DP to manipulate the shareprice and keep a lid and probably to give time to line up big rewards for staff and board in the new improved longterm employee benefit program to be released i am sure soon. He has already destroyed all private investor holding pre 2023 so the recent dilution put all power into hands of Altair and Pitcole. Against this we have plenty of possible news that should potentially propel us back to £20-£50m market cap but will require a decent equipment order to ensure profitability might be achieved in 2025. There is every chance as we have many deals in the pipeline. I hope it comes before DP is able to do anything else that damages private investors and gift more to Altair and Pitcole (who cant go over 30% holding each but they might close in on a commanding hold over the company) . Do we know anything about Pitcole and any connections to DP as he has gifted them a stake at every step. This does look suspicious. So far DP has not come out of his bunker and no one appears to question him. Whether he will even give any reason as he hopes time will fade the memory. Its hard as a private investor to see a great company and technology appearing to be poorly managed by DP.

Sounds like we are going to steup monday with the latest "quite high non binding offer" that just came in. Bear in mind MC talks about a $900m NPV so we can realistically expect these "quite high non binding offers" to be well above market cap, most probably 2-3 times. sounds to me a binding offer could come in anytime. once other bidders are aware of new interest they will probably look to strike and get ahead. one possibility is the chinese do a binding deal but between the deal happening and completion Calibre do not want another competitor right on their doorstep and make a an out paper offer. 2 years ago Calibre was worth $600m and now over $2bn so they have 3 times more value to play with and Condor has lost ground. Calibre making a $200m paper offer is the same as a $66m offer before. MC has got to get a binding offer as i think a paper offer for the company might well happen.

- [ ] Commissioning underway Greece so should be live in Q4. We have feed contract recently signed for Hawaii $330k and an overall value if we build of €7m at least. If this deal is contracted this will push us towards profit as we know margins on tech is around 25%. We have a RNG feasibility contract that is progressing. Just the design services on these RNG plants is €2m and they have shown 50% margins. This is just one group of projects sprouting up in Hawaii that came out of the blue but progressing quickly. Hawaii also just got a decent multi million grant so it looks promising. Croatia, another project almost forgotten about looks set for Q1 sign off for construction. Add to this Greece is on commissioning so possibly live by eoy and Northfork now going live. We could see as early as Q1 whether we will become profitable as just Hawaii could deliver that alone, let alone the rest. While investors have been badly mistreated on many levels we have £3m in the kitty that i hope even DP cant spend all of that over the next 6 months and if we do not see some of these deals come in then DP has failed miserably. However i sense with interest rates dropping fast in US and Europe (our main areas of work) this will free up financing.

Lets hope what JM says comes to fruition “ By way of an update on the sales process as at 26th September 2024 there are currently eight companies under Non-Disclosure Agreements (NDAs), five non-binding offers received and three site visits completed. Although none of the non-binding offers have progressed to firm proposals to date, the Company is in discussions with several gold producers. The Board is optimistic that a sale will be concluded in the near future.”

We are treading water. Good news is China just did a massive stimulus and key was lowering rates and boosting bank lending so this should lead to an unblocking of projects in China that has been in a 3 year drought. Hopefully big orders will drop this year. I feel more confident CNE will emerge as it is in many key areas but i only wish CNE took my advice 4 years ago to revamp front of house PR and marketing. It is woeful frankly and something that can be fixed for so little investment and could help them internationally. Hopefully next results will turn the corner as E10 is growing globally and demand is strong so new efficient plants will be needed. Just a matter of when and china stimulus should be the key.

Its completely baffling. Plenty of third party companies and individuals could come on board and build and operate the mine. MC and JM could step back a bit but obviously a JV with Calibre or any number of gold miners is really a no brainer. Only downside for JM or MC is not getting payday today and would need to wait a few more years. However in short-term their paper wealth would balloon multiple times over todays market cap.

So much to unpack but we need to remember that we are a £4m market cap company today and this is the worst period up to 31st June and includes all painful one off finance costs. The interims read nothing like ones from 2021/2022 that pumped anything to the high hilt. These interims almost read they are trying to playdown the good news on the short-term horizon. We have to remember its equipment sales/licensing that will make Eqtec massively profitable, but impressively our 1.4m in services and maintenance are at 50% margin which is increasing. This will only climb as they state and payroll costs have continued to fall 14% since these results so gap is narrowing and move to Spain will reduce other overheads. Obviously clients who have already paid 1.4m in H1 services will ultimately make equipment sales on the back. It will only take 1 decent equipment sale of €3-4m and at 25% margin that will fix the cashflow and push us into near profitability. We have up to 8 such projects just from reading these interims that could come in over 3-12 months and surely one will drop in H2. Grand Comb alone is worth 15m and Eqtec state expectations of Q1 2025 sign off which seems plausible as idex are waiting for building permit as money will not be the issue. Northfork seems to contradict Phoenix comments but this is clearly going live in coming month and will cascade maintenance and trigger further projects with Wilseyville that is now only waiting on loan guarantees to be in place. Northfork alone will add $5-10m back into our net assets that i hope can be sold so we can get our equity out, although Eqtec would need to do this but have agreement to keep as a reference site. Italy is now “stabilised” so that should mean operating as per business plan but shame no more meat but seems to offer confirmation its operating and generating good client visit responses in Europe. So many positives considering our market cap today and i would not think even €25-40m market cap would be out of place (once 250m!). Just need some further signed deals that look inevitable in H2. My big bugbear is we had 500k in the kitty at end of period and since added £2m and further £1.1m so we have very decent levels of cash flow and to me just reiterates that the £1.1m placing was not required at that point in time. I wonder if eqtec will do a proactive interview as they used to do them at every RNS. If DP does not it just worsens his position his motivations for destroying any momentum in the share price and gifting such a large amount to investors unknown along with his altair connections.

MC already stated offers above our market cap in recent chat so surely the board should be promoting this fact and getting our market cap moving. While the odd company has been shown to be acquired for 250% premium it is a lot easier for an acquirer to sell it to its shareholders at something less than 100% premium. The total lack of offers made to date is not helpful and 2 years is fast approaching. JM must surely not want this around his neck as it suggests poor decision making.

Interims friday will likely be burying news but interims monday could be good if Eqtec share insider information on Northfork and other projects that have now been made public. I personally hope the FCA investigate DP so he has opportunity to present his reasoning for the discounted placing and debt for equity with connected parties and at possibly the perfect time. If we move back to 4-10p over coming months it will shine a spotlight on what was really going on behind closed doors and why the radio silence on Northfork since. That is worth $5-$10m so insider info would prove very valuable at a time we were trading at 1/10th of our net assets to give 40% away for £1.1m

Smart money piling in. Only wish i had the forsight to hold off investing 3 years ago but best things (i hope) come to those who wait! If we can break the back on funding sky is the limit on valuation as Saudi and listing will take us into stratosphere and probably Saudi or Ethiopia will be acquired by bigger fish. Would like to see 2.5p again!

If DP and board have withhold financially relevant information on Northfork going live and were aware of this as they were organising a significantly discounted placing and debt for equity to Altair then they have questions to answer to the FCA given DPs direct connection to Altair. The placing and debt for equity should have never happened before the interims and if any wrongdoing is found then DP should be investigated. Obviously its great news Northfork is live as we own 25% once out of chapter 11 and possibly $5-$10m in value to shareholders minimum. The fact DP has not been forthcoming on this information is very troubling and we have to hear it from a 3rd party. Key here is we have another project live and possibly dozens more orders in California. Also podcast reported Wilseyville is about to get financing and Nappa so thats 2 more projects. Quite why DP did not update the market weeks ago when he must have known is not a good look. I am very comfident Eqtec tech will he a huge success but questions must be answered by DP the reason he is holding back information from the market and why he did not announce this prior to recent debt for equity deals.

Gold 2630 and rising fast. Something has got to give. We are leaving $1630 on every ounze on the table. Thats a cool $244m in a 150k production year :( we could have been enjoying that if our Oracle JM believed his gold price predictions and got the mine build started 2 years, now scrabbling around in the dirt for $150m+ buy out as far as it looks like. Still thats 2-3x today market cap but board have completely missed the boat on this meteoric rise than many think can go to $3000+

I hope they conclude sale before Autumn statement just in case government follow through and make UK totally uninvestable and force investors abroad as capital gains is already too high and not inflation linked :( . I guess only silver lining is if you are nursing losses might be worth waiting to declare after statement and government can pickup some of the tab! Seems government are hell bent on cutting off our noses... If they were smart they would lower capital gains and make the UK more attractive to invest. I heard the VAT rise on independent schools is leading to Fewer british pupils attending independent schools and more will be accepted from abroad so another great poke in the eye for UK plc. MC and JM are probably immune being non doms so probably side step capital gains. Anyway anyone lucky to be in a position of potentially making a profit on Condor i tip my hat!