Member Info for Simms45

Fresh from todays minutes

“ NFCP Update: lots of activity, construction is moving forward very nicely, should be going online soon. Thanks to Wade Wheeler for helping to move things forward. ”

Sounds like pretty soon. Maybe even later this month?

Follow project on linkedin for latest info https://www.linkedin.com/company/phoenix-energy-1/posts/?feedView=all as they said it is "so close" 3 weeks ago. also follow on their website https://phoenixenergy.net/project-sites as they 50 in the pipeline and Eqtec should be part of all of them.

Feels to me like someone has been reading the annual report as price firms towards, hopefully, Logik settlement. Also keenly watching updates for when Northfork might come out of Chapter 11 and getting uptime on Italy. If we get a 90% uptime for last 3 months could be time to celebrate we have proven tech at scale that should get Utility companies to sign off. I am sure loads of deals are waiting on Italy and in US from Northfork. Both now closer than ever.

Great to see some reasonable share price targets added back into the bonus pot. 3p on production will be a long way in the rearview mirror but at least by then investors who have pumped in over $100m will technically have got their money back before Harry puts his snout in the trough. I am very comfortable that our partner (ethiopia government) and the largest bank in africa, who has signed of the lions share of the debt, has a bit more understanding of the project than anyone on this board. Follow the bank who are comfortable with advancing $190m in debt. Just secind bank to sign off, probably by end of July or around the AGM in Addis. Seems to me a very likely point in time when something like this will happen, especially as early works will be 60 days in and hopefully second bank can sign off this work. Gla

I think it is just because it is new technology and training necessary to implement, from building through to maintenance and operation. You would expect Eqtec to be all over the maintenance and hand holding but i guess in Northfork case it went into Chapter 11, got refinanced etc. it is also a local community project and when you look at the minutes it sounds like a parish church committee. Italy had problems with staff and early stage operation. I think the first one is always going to be hard. the second will be easier as you can use same people to work on the second one and build a local team. i suspect cash is also limited in Northfork. however last linkedin update on Northfork was it was in hot commissioning so it is close. however Eqtec barely mention it and written off whole investment but we retain 29% in the project that might have a $5m valuation. it was smart Eqtec kitchen sinked all investments and debts in last accounts so we start from a better base as i suspect these projects will at some point come back and looks a lot better adding £5m to assets on the way up as i am sure plenty of these debts and projects mothballed could come back online in time.

The annual report just out is well worth a read. https://eqtec.com/wp-content/uploads/Annual-Report-2023-PDF.pdf Lots of additional context on so many levels and if you read and ask why we are worth £3m market cap (when you consider the pile of crap in MNRG is worth more?) you might be wonder why we are not worth £50m or a lot more. We were worth £250m with far less going on 3 years ago and apart from the messy UK projects we are flying with 2 operating plants, 3 under construction, 4 in design stages......... I also have a feeling with the new Labour government GB Energy and pro decarbonisation strategy that all of a sudden the UK is going to follow France and get its skates on. Maybe those projects in UK might get resuscitated although Eqtec will not be the one investing. We have incredible R&D facilities in France and Spain working on incredible fuels conversion, plants across several continents and right in the middle of the greatest shift in energy for a generation. Obviously i know the reasons for the catastrophic share price due to our diet of junk convertible debt but that is now over. Pitcole and Altair have not budged so they are not in any hurry to exit. if we are not a 10x opportunity over the next 12 months i do not know what is. Welcome to look at any that stand up to Eqtec on its 20 years of slow painful growth. Most £3m companies are 2 man bands with a dream. Eqtec is a serious global player. Enjoy while there is a chance to get into a serious company that has derisked its strategy. When Northfork comes online we could have 50 more plants just in California on the move. There should be 1000s of these plants across several continents and our licensing approach could deliver hugely. read the annual report. gla

Did they indicate what is holding up the sale? Its pretty obvious we have deal but sounds we are waiting on something? If Coop have agreed a deal to hop it then else? Deal could and should drop at any point? Key is we have a deal and probably £100-150m so its 2-3x from today for waiting a few months. Given the years have rolled by the extra time is pretty immaterial but a bargain to those looking for high gains in short order. Exciting times!

Yes. The AGM is in deed appropriately 60 days post kickoff in May and when we understand 2nd bank will sign off the debt leading to equity investors to do likewise. While you can never be sure with anything Harry and Ethiopia but putting everyone in the same physical space does feel like something will happen. Leadup to this date should firm this miserable current share price.

Would be a huge bonus to receive that £2m. Interestingly since this fund has paid deposit of 10% or more Logik will have £1.5m on account so in worse case scenario this money i wonder would be payable to Eqtec if buyer did not complete. Obviously thats unlikely given the exchange has occurred but 12th is friday so more like monday unless they complete earlier. Could be good week.

Have to also remember a Labour government are going to be very active in decarbonisation so Eqtec might well get some support in UK projects that might help some projects OTL, perhaps through government backed financing. Plenty going on at Eqtec that will keep staff busy so just need to wait from Idex deal to fully materialise and all the service and maintenance contracts. I am sure a fair amount of the Italy refinance will its way back to Eqtec in maintenance and equipment sales, if not profit from the operation later this year. And Eqtec are still valued at £3m?

Everything is in motion Fantasy just not as fast as one might hope and shareholders having to put up with over egged comms from Harry but Harry needs to deliver and fast to hit is timeline. I know he has never hot a timeline in his life except taking his wages but for those who can see real progress, and especially those entering now its a pretty good risk reward. I hope they spare a thought for lths who have been here years. Come on Harry close something by the AGM!

There is probably good reason why the whole team are having the AGM in Addis on 22nd July. I suspect this will be a key time for 2nd bank to signup and for equity investors to sign up. Harry has to achieve that before end of July really as August is often quiet and they will need to secure cash to kickstart by October. We are not that far from the project really starting as i only consider it starting once we get the cash from investors in the bank to get on with production. The May 20th annoucement now in retrospect looks a little optimistic unless these early works can be shared as the 2nd bank needed site of this activity to signoff. Come on Harry please share pertinent updates with investors and take your hands out the til until the market cap of our company is at least £150m before you help yourself to our money.

Harry has spent over £85m in shareholder funds over last 10 years and today we are worth just over £30m so Harry should hang his head in shame to consider he should award himself anything in front of investors who are around 60% down. Harry should only receive any type of bonus once we get back to a minimum £100-£150 market cap to show any return on investors trust. The latest board bonus is a scandal not to align with investors and shows the real nature of Harry who feels he should extract cash before any investor has got their money back. At least the likes of Elon Musk got his bonus after investors had 25x their cumulative investment in the company. Harry and board can take a £10m bonus as long as we are worth £500m. but today his bonus should be 0 until he delivers a market cap that comes close what the money entrusted in him.

Ill take that “rewarding” as fill ya boots on monday morning as the cavalry are coming :)

Thing is though we are about to receive £2m from Logik, €15m from Idex, hot commissioning of North fork, equipment and engineering for smatter of projects, income and maybe some refinance cash from Italy. If a MBO was the plan it would have already happened. Today was the final part of the reboot so when things start to improve it will look a lot better than if they slowly impaired investments. Also PIs are now probably building a position.

Did you find any nuggets of wisdom?

I would also reconsider the intangible asset value as we have decent patents that protected us in the US and has put us in a strong place to secure more US business while these patents also protect our own commercial plans as getting gassification to work, as demonstrated by Eqtec is a big deal.

You should factor in North Fork as it is fully written down but we own 28% of a project that was last valued at $20m so call this $5m. We should soon sign a decent service and maintenance contract and should deliver some positive income from the project itself. North Fork is the sweet spot for Eqtec and we have another 15 of these projects in the pipeline. once North Fork finishes its hot commissioning next month we should get a much better picture of this project as well as understand further projects in California. Hopefully all parties can optimise the next plant to not go into Chapter 11 and complete it far quicker but this is a very decent project for Eqtec that are valued at £3m today so this stake in this project eclipses the valuation alone.

18 months. We need a good explanation where we are. Are we being sold or not is not really a hard question to answer given multiple comments from JM and MC we are on track.

Looks they served notice to complete so small wait to complete.