Member Info for Simms45

All great but we have had lots of great news from Saudi but cant remember a single RNS that moved the dial. until TK is financed the market does not even value Saudi. the entire company is worth less than £30m. We have already spent well over £80m just in development, maybe more across TK and Saudi. Harry has just got to focus on TK and when it finalises Saudi will be immediately worth 2-3p on top. i have invested in mining companies before with millions of ounces but if you have a credible plan to mine it the value is worth less than it costs to discover it, hence our pitiful market cap. things will change but not before TK finance in the bank.

Well from 5.50 he talks about finding new material (drilling) or adding (acquiring gold reserves). Why talk about the latter. They see tremendous opportunity with surplus capacity at their Nic min and trucking was already an option. Notice how he then quickly changes the subject to Valentine as perhaps he knew he said too much. There is no reason to be sitting on close to $300m of cash by mid April if they have nothing substantial to do with it. For me Ryan laid out his stall and gave no information why he raised $100m. it was utterly vague. anyway if we do not have a deal with mid April that would largely rule this out.

Wow. Just listened to Ryan King. he was poker face about reasons for $100m raise but he basically said adding resource is what they are about to do in Nic. Listen around 6.02 and its pretty cleer what the $100m is for. Money closes mid April so anytime between now and mid April. Gla.

We booked 300k services for Wilseyville in USA, 450k for Idex engineering and we sold the land for project for 750k. we have Hawaii i forget amount and plenty of smaller amounts. Key is all this is highly profitable as its not equipment but drawings and reports. My understanding all revenue has been booked in last 6 months and will mark the turnaround. Remember all these projects are worth 10-15m each once they get green light and billable upfront as its needed for equipment etc. I consider a bit of a surprise as Eqtec have gone to ground for last 3 months with barely any updates on North Fork and France. Its all happening but Eqtec are very quiet, which i prefer as DP was master of spin and over optimistic bluster that cost most investors a 90% loss.

Given the 20% ownership by EG and the extremely high levels of trust placed in Kefi board it would take a very serious buyer to venture into this myriad of investors. I just do not see TK being realistically sold early doors as its just too complex for Harry to exit left. Once built and operating it might be a different story but awarded licenses to Kefi in Ethiopia are linked to good behaviour so Kefi would need the EG full buy in for any deal to materialise. I just want to see real binding signatures as end of May and end of June feels a little close to the wire if the plan is to complete the financing. i am starting to see de ja vu and its because of how slow things are going. In Ethiopia over a 5 year period you are bound to have serious issues so Harry needs to make everything happen in May and not constantly keep pushing dates from Q1 to H1 and i suspect Q3 turns into H2. I really hope Harry can deliver by June,

So are we thinking Calibre are raising a war chest of well over $300m+ for nothing? They have not said anything about Valentine cost overruns so this is not the case. They would have needed to release this information prior to raising funds. They are clearly planning something else and something big. does this include Condor? I would like to see an announcement after the Easter break but if it was mid April that is fine. PLenty of upside regardless but now is the time to lay those cards out.

The key for me is that Eqtec will survive as lenders have now converted into equity. We have almost no debt now and Catalyse are buying the holding from the other investors. We are at the nadir of valuation and held at 2.3p partly because of the Verde subscription taking place at this value but also the other investors owning 10m i suspect are selling into the open market as Catalyse are probably offering them less than 2.3p for their shares. therefore we are pinned at this level. Remember Verde are supposed to be buying £1m at double this valuation. The catalyse situation is not ideal. Will they hold the 10m shares or sell themselves. they do not appear to be strategic investors but we do not know as i suspect Catalyse also sense that this could 10x on basic news flow over coming 3-6 months. £4m market cap is silly season. its bonkers for a company with E 50m of assets and a real pipeline of projects that is currently generating very nice revenue for front end engineering services that is highly profitable.

Its all pretty clear from the RNS and pretty transparent. Should find out next week for a full update on projects and if Verde have completed. I just see Catalyse spotting a cheap share deal. Bear in mind its £230k at current share price so tiny.

Catalyse “special situation investor” is buying 10m shares from YA II PN Ltd and Riverfort Global Opportunities. Pitcole and altair already converted their debt . It is a big mopping up exercise to manage the myriad of dubious loans and deals. It leave company at £4m market cap that appears low.

Our loans are now minimal after the last fundraise that was used to pay off and other debt was converted. Bear in mind Altair are down 90% on their last conversion of debt back in March 2023. I do not agree on Verde. I would actually be happy for it not to happen as i think the money raised is not worth the dilution and i do not think this sum of money is terribly important and is more a favour from Eqtec to enable them to take over a 10% stake for a limited investment. i think the deal is tied to the US or something else and this was the delay as it was a package. its a tiny sum of money in reality. Anyway we will know very shortly. As to North fork they will not know yet our stake or likely revenue and will not share it if they did as it is private and could be traded on. While i have been burnt sometimes averaging down when you believe the underlying mission of the business is correct could eventually create a far larger profit in the long-term. I certainly still consider that with time this company can be worth £250m. Will first like to see it get back to £25m as todays value just over £4m is basically calling in the receivers. i have been very positive about the technology but was robbed by the CEO and his over optimistic plans but i still stand by the technology and positioning will create considerable value and even DP and JVL will not be able to completely destroy. Next week i suspect fireworks.

Bear in mind that if you are down 90% on your initial investment and able to invest the same amount of money at current values you only need to double the current share price to be back in profit. 10x is possible but 2x would put you back in profit. We doubled the other day on non existent news so just imagine when we actually have some news worth talking about. We already know, anecdotally, that Northfork is about to or in the phase of commissioning and France, Hawaii, USA, Croatia and Greece are all moving along. The adio silence i suspect is because DP has been hauled over the coals about his ridiculous revenue spreadsheet he fleeced initial investors with. Now he appears far more cautious as frankly he should be pursued by shareholders for those early speculative revenue targets where he robbed a lot of investors with bare faced optimism. As foxy likes to remind us the revenue is the last quarter was so embarrassing for over 20 staff. There are probably people here that make more themselves than the entire company made in that disastrous period. However i expect we will be over 1m this period so while pathetic it is better than the last period.

We will find out in the next few weeks who is deluded. If you look at the balance sheet total assets of the company amount to €50,686,582 made up of long-term investments of €29,825,309. Yes there are intangibles as well but the company has considerable assets and my review is that we are worth more than £5m. The Verde deal looks to be connected to a US financial close so that could be a double banger next week. NorthFork alone could be worth multiples of todays valuation alone. Even our Italy plant is probably worth more than Eqtec market cap. For me 50m is just the asset value and gives no value to the future potential and the disconnect is the massive mess created by rose tinted DP who is so uber bullish. My view is average down like crazy and enjoy the next ride that is incoming as i have done recently so even a small rise will put my whole position back into profit and ultimately a far bigger return. Since you are reading this i presume you are invested so you probably know all this. Sadly the market is the market and you can only speculate that the disconnect will close in time. gla

Webinar sounded to me 2nd bank approval earliest will be end of April and syndicate to all confirm by end of May. Also sounds a bit of chicken and egg where banks need sign off of resettlement but resettlement reliant on funding and as time elapses they need to refresh costs. Seriously frustrating and Harry did say both banks were in parallel signing off debt but know its sequential. This will all happen but it would be a miracle if its all signed by end of June. Certainly some key milestones in the interim but a little deflated that there is always something to do. We will get there but Harry has never communicated accurately and hence the recent £4.5m raise which covers a 12 month period so it does grate somewhat him now saying middle of the year. Do you believe him or the amount of the raise as to when this will happen?

With market cap on its knees at £5m and billing this quarter must be closing in on £750k with Hawiah and MDC in france bringing in most of this we have plenty to look forward to. company has invested/sprayed £50m but we have Italy operating, we have North Fork commmissioning where we might have 49% stake, we have logik who potentially owe us a few million. We have France that will bring in 15m as it is pre funded although expeced 2025. There is croatia, Greece, another project in the USA. These are the credible and happening projects but there is also a long list besides. At the very least it brings down my average and i do not see that £50m is not unlikely valuation once these projects are announced. The lack of news i suspect is related to Verde who have agreed to invest at double todays share price for part of their investment and that should close this month. i suspect if that happens we will get news released right after the Easter break. Good luck.

Lets hope so. I'm up for a 1st April announcement but getting on for 15 months and if we had pulled the trigger we would be about to go into production at a record high in gold prices. Lets hope that handshake was firm and no hint of weakness :)

I think with all the snippets of information including Jim Mellon comment, recent Visits to Nic, land deals talked about by Book5 and so on there is plenty to give confidence. whether it is China or Calibre we will see or something completely different. Mako are booming as well. It would be interesting if the news came prior to final results. we will see but all looking very positive but just a time to wait.

Its a bit like clockwork and you can almost set your watch by it. We wait 6 months with no news and then they issue a profit warning. Not entirely unexpected but looks they are writing off a lot of debts from suppliers, codeword for backhanders, but i move on. Board meeting is 28th. the other news was about our debt for equity deal that does appear to have been profitable so there might be a small glimmer of positivity, although our duo is joining the board so i do wonder what they are now up to. https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0322/2024032201713.pdf

I just hope the cashflow is reasonable and this loss is more about tidying up the accounts and not about a lot of cash exiting the building. I remember years ago being concerned about impairments and i should have known where this was going once you understood how the duo operated with their mates and how deals were “organised”. We live and learn and we will need to hope the current year brings back a profit or we have some positive update in the outlook that takes the market cap above the current £7m.

Maybe but everything is budgeted at Calibre and no comment of requirements over their enormous cash pile. The raise referenced everything you could conceivably spend the money on and was careful not to say it was for anything in particular. I suspect it is to fill the cashpot once Calibre make an offer on Condor so technically the raise was simply to cover the expected offer for Condor or another mine. Maybe its a rainy day fund and taking advantage of share price but they will be adding $100ms this year and massively cashflow positive since gold went to $2200. There is definitely something more they plan to do as holding $230m that will be $300m very soon is not their plan.

The only people selling are the bucketshop outfits that bought into the placing and now taking their medicine and exciting as their expected short-term profit has not materialised and now we sit at .55. Harrys pump in the leadup to the raise was spectacular with no end of exciting news about boards signing off the definitive agreements at the end of February and a timeline showing a full drawdown well before H2. I like most others took his word that short-term debt could be found given he said the cash burn was only $200k a month and took his word that a placing was not needed prior to finacial closure that he said more than once. therefore it was expected any placing would come post financial close and multiples of todays share price. The placing was also massive given the expected closure of the finance within a month or so and everyone has a right to ask why so much was needed as such a discount just as the share price was pushing towards 1p. I suspect part of this reasoning was simply down to logistics and Harry did not want to be doing 2 placings or more this year of small amounts as it is a lot of work and effort to achieve that and costly. Instead he plumped for the full amount and helping to get the deal otl with a pump so the discount looked attractive to investors. While Harry has continually stretched the imagination of what is legally and morally correct we are still here because the assets, once leveraged, are worth easily 10x today. however who would have guessed that old Rolls Royce would have 6x over last year. Goes to show that following Aim stocks can miss the bigger picture. Kefis time will come and if we do not have the signed consortium and 2nd bank signed very shortly then clearly this will not happen prior to H2. Having seen 3 years of the same Harry pump and excitement followed by next year lads it is massively deflating to have experienced this once again. The man should apologise but ultimately once this deal is completed this will all be forgotten and Harry will be a new hero of many. You certainly live and learn on Aim as i dont think you can trust any board with timelines. They are always wildly optimistic and cant think of one stock where they have delivered on time and on and budget. gla and hope we do get the final sign off very soon as how long does it take for "all boards" who went to credit committees end of February to get a signature on the document? We are now near the end of March? Come on H and get it sorted.

Could be a flurry of buys today just in case anything announced next week. There is no way Calibre, out of the blue, raised $100m cash for existing projects etc given it will have well over $130m in cash by now so this will make it $250m. All of their current projects are on schedule and on budget. If they raise this sort of money to fill a gaping hole that their cash reserves were not able to cover Calibre shares would crash but there is nothing they have been saying of any short fall. The raise of $100m was purposely very very vague in details. maybe they are going after another target but i doubt any will be as compelling as condor as within 3 months they can be pouring trucking gold from Americas and at $2200 gold they can get this upfront cost repaid very quickly.