Member Info for Simms45

Totally agree 909 as Eqtec introduced Catalyse and lo and behold we find our share dumper. DP would have known this but pis, including myself bought in again above current prices. Issue is not so much my view of potential but more about investors who are in the dark not aware who of DPs investors are dumping shares. Todays shareprice is testament to DPs relations with bucket shop investors. I do not doubt we will probably be a £30-£50m market cap company later this year but pis have been diluted to kingdom come and i think these new investors combined have hoovered up 40% of the company for a pittance. I am wondering if DP is more connected to these parties than he lets on. Ultimately if he is not he is shooting himself in the head, except for his salary as his shares are worthless. I am guessing next RNS will be awards of boatloads of performance shares to get us back to £50m market cap, which is not hard to do if DP does not work with these types of investors. I personally think the company is now in a good place. We have almost no debt, revenue coming in and plenty of chunky returns in the pipeline that will come to fruition. Personally happy for Eqtec to take a month longer to recover so i can invest a little more and lower my average but DP actually cant take Eqtec any lower than £4m market cap. He is decimated the company and its investor base. For new investors it is very much worth a look over but so many investors left with disgust and do not blame them as some lost over 90% in a few years on DPs optimistic banter that sucked in so many investors. Its hard to say live and learn because DP was not trustworthy and his relations with so many investors that have fire sold Eqtec stock tells you a bigger picture.

Mako mining have seen their shareprice balloon recently and now over $150m. Their paper is now growing at a fast pace so with gold producers finally in their ascendency it makes a paper and cash deal very easy for most so there are plenty of gold miners who in the last month have seen 40% rises to their market value and ability to access very large amounts of cash and that will equally apply to Chinese gold miners. Next week could be news.

Its all shocking, most of all the market cap at £3.9m. Its clear market has put a very large discount on the board and steering clear. While many are not a position to do so and average down if you believe that a combination of Logik income, service revenue this half, Italy refinance, North Fork, Verde cannot move the dial and lift us above this ridiculous market cap i do not know what can. Its possible Verde was waiting on Logik resolution not wanting to invest in a company with litigation and the discount DP agreed was partly to fix that. I made the mistake of investing at the wrong time like most taken in my the CEO spouting a pipeline while at the same time knowing Altair were selling stock to get in the next placing at lower price. There is some questions DP would answer in court so i suspect DP will want to now keep Eqtec on the straight and narrow. but £3.9m does appear to be a pretty decent buy in price. I now only need to slightly more then double the shareprice to recover my historic loss. I might add more once we get results laying bare what has been going on with all projects. We have had no meaningful update on any project now for months.

Lets hope that in situations like this concessions pick up where they left off or if that was the case there would be no licenses valid for anyone.

We could very well have a suitor for El salvador as that 747k ounces of gold is just a tiny fraction of the district. Would be great to see how much this is now worth as it was valued at 0 until today that mining is back on in the country. This is some great news and be interesting to hear impact will be.

“Condor has spent several million pounds drilling and exploring in El Salvador over the last 6 years and discovered a JORC compliant resource of 747,000 oz gold and 22.4 million oz silver. The existing Mining Law enacted in 1996 with amendments in 2001 encourages foreign investment in the mining sector.”

Could be the tonic to push Condor up to 30p+. Been a long time coming but its a key point as an all share paper offer from Calibre at 60% premium is going to mean board of Condor will need to share it and be an easy sell to its own shareholders at 50p all in. It can now be integrated in as a side dish for Calibre who look quite likely to join the major league very soon.

While i dont quite follow why we are settling for £1.7m or £2m we need to wait. It feels like completion is this month but the odd inclusion of £2m after April is odd as if they miss first deadline there is less motivation. They should have included higher penalty and interest costs. Anyway if completion does happen this month then £1.7m would be handy.

Excellent. That is 50% of our market cap and hopefully we can kick Verde into the rough. I doubt it though but this is great news.

“Logik will pay the Company a settlement sum of £1.7 million within the next business day following the date of completion.“

I wonder if Jim has recently changed his tune. 15 months ago i think he threw his toys out the pram and was insistent on cash but he was as bullish as any about gold price. Now we are on our way to $2300 and Calibre looking well placed to become a multi billion dollar company will he change his tune. I just hope we find out soon as we were told mid December about advanced proces with 2 bidders and we are now 4 months further. All that might have happened is that as gold price rose the bids kept rising and Calibre did the cash raise to seal the deal or have it ready. Shame Ryan did not do a deal with Condor 3 years ago on gold tolling and we would all be far better off as a result. Calibre had a processing plant half empty unnecessarily for last 3 years and could have already hit 500k ounzes. Just hope these CEOs knock heads together and consider long term shareholders.

I still expect Verde to complete, although personally i do not see them as terribly strategic as far as i can see and offering them £1.5m of shares at such a low price is depressing when revenue for first half of year has been decent to cover operations. Certainly Palumbo could be called in over insider dealing as his connection to Altair is far from arms length and Altair have been a big seller over the years, only to then buy in at the lower placing price. If Altair have sold prior to placings they took part in then suspicion would lie with DP. I do not consider that Altair have financially benefited so far as company is worth less than £4m but Altair ultimately noe holds 30% and the valuation of the company once things are shared in relation to North fork and the half dozen active projects paying money things should bounce to around £12m. Even that is nominal given the £50m still knocking around Eqtec in different shapes and sizes. Key to know is what will our stake be in NorthFork as we invested many millions into that project and all that happened was to refinance the debt and jettison deadweight. No new equity owners came in so i am assuming we should maintain 49% ownership, at the very least enough to ensure we get our investment out after it is refinanced.

After recent $100m raise by Calibre their share price has taken off again and close to what it was before the raise, meaning the $100m was almost a freebie. I would gladly take Calibre paper as they will almost certainly double over next 12 months or more on back of rising gold price. By adding in Condor assets and trucking ore Calibre will hit the 500k ounzes target a lot sooner and move into the mid tier bracket awaiting a takeover. Calibre can get proper valuation on the 2m ounzes we have and that should add more to its market cap than it will cost to buy Condor in the first place. Now seems like a 2 horse race between China and Calibre and i suspect the recent $100m was to be used to sweeten the deal and stand up to China. We will see who wins the prize, and soon i suspect.z

So results are in and very little to report. The recent debt for equity was only notable point when we ended up with 40% and while we wrote off £4m of debt to do so i suspect getting paid was not happening anytime soon. It might help. However nothing else mentioned about any new sizeable projects. For me the way they market themselves through their website tells you everything that they are not even trying. They rely on an opaque network that when it works it does well but when its down it does terribly. They have no other irons in the fire. They talk about over 40 patents but i do not see any new orders of merit in this first set of accounts. When they release final results it might change but it looks like another 6 month wait. Frankly its pathetic to have no interest in international sales given no english website and a website that looks it was built in 1999. They had potential but they do not even spend a few thousand sorting out probably their most important marketing asset. Year after year they squander sales opportunities but putting two fingers up to any other country outside the PRC. Why we can only speculate.

My hope has always been a JV so we keep 50% and Calibre or someone puts up all the development capital. Maybe the Calibre cash might be used with this in mind so keeps some action for hard done pis. The profit now at Condor if it was digging up 100k ounces would be over $1300 an ounce or $130m. thats just 1 year at base case numbers. Everyday gold rises you start to worry we will be sold too cheaply at 2023 prices. Also must motivate buyer as since December we have risen a few hundred dollars in gold prices and that really changes the profits. I am expecting news before mid April.

I dont disagree as i think current billing would get us through the nadir. The RNS alluded to further investment down the road so i almost take this as a upfront favour from DP but we do not know what they will do with the funds. I am really surprised they have not updated on news for Northfork as that is in final stages and Eqtec have not released news. I did think this news would come in after Verde subscription as potentially it will look back on DP if share price spikes to 5-10p and Verde would have made a pretty sizeable profit at expense of PIs who most might be down 90% or more and this dilution just smacks of mates rates. ultimately there is value in eqtec for new investors and i have bought back in to lower my average. We will see as the board have acted in bad faith to investors over last 3 years.

Long long way to go if Surrey123 is on the ball. I would be happy with 90p on Calibre paper as their stock will spike if they secure Condor as it will immediately lift the value of the company substantially and sort their massive issue of lack of capacity throughput and we will drop dropping almost 10grams of gold per ton.

Key factor is scale. Calibre want to hit mid tier status of 500k ounzes and then sell to a biggie for many billions. Its almost implausible Calibre would not want to shortcut that target as they could be trucking in 3 months and their 500k ounces hot a lot sooner. Key for Calibre is they are generating so adding 2m ounzes adds massively to NAV. it adds little to Condor as we are not a producer. Ryan knows he can probably triple the value of Condor on his books than ours. If Calibre do not buy Condor they are leaving probably £300m+ on the table in value that they could properly value. Just imagine the gold forward contract they could sign almost immediately to pay for Condor. We wait and see but Ryan is a smart operator and must have dragged MC over the coals just a little.

If you cant make a deal at $2250 will they ever be able to? The NAV at $2250 must be enormous if you include all assets in the valuation and not just La India. We should be nudging 30p-40p and not at wallowing around 25.5p.

$2254 as we speak. can only help matters as acquirer will stand to reap a fortune, especially if its Calibre as they can truck the gold within months and if China they can build a lot faster so both parties stand to do very well.

Well the CEO of verde is apologetic for delay for further small delay now closing on 16th April. looks finally set to happen though with second tranche of £1m at over 5p a share, double todays price. i suspect once that happens Eqtec should move up to this level.

“We remain 100% committed to this strategic investment into EQTEC that has, unfortunately, taken longer to complete than we originally envisaged. Peripheral matters that required completing as part of Verde's investment Group have now, finally, closed and so allowing us to move forward towards concluding this transaction with EQTEC. We are already working within our network on collaboration opportunities to enhance the profile of the company in the USA."