Member Info for Simms45

The next push to .8 is back on. News could come anytime on any number of events as we lead to financial drawdown. Will we get final credit approval next week for 2nd bank? Will we get confirmation of investors credit approval? Really once those drop we should be taking off like a rocket towards drawdown and news on Saudi projects will really start to get exciting, afterall a lot of people are here for Saudi projects which massively eclipse Ethiopia in the medium term given the partner we have and the funding readily available to get on with the nine. Exciting times for Kefi holders.

Its certainly embarassing they cant seem to be able to organise a whipround at the local pub with what appears to be poor communication from both parties. I suspect any update on operations will happen once money is deposited. DP has got us to this point. However the market cap is at an all time low from bitter investors offloading their remaining holdings as they probably could not stand to see the 90%+ loss on their investment which was done on what DP and Align was all saying about the future but it was really just DP hoodwinking investors as when you look back DP barely ever invested in Eqtec stock and i am sure he just about to organise a boatload of options for himself and the board st these levels. We will see. I am fully supportive of technology and we have plenty of value in the business but little confidence in the board from the last 3 years of RNSs that were retrospectively overly bullish. We are where we are but we are in an interesting position where the market cap in unhinged from value but trust in the board and what games they might be up to is the bigger issue.

If done well binding offer does not mean final price because one of the other suitors once faced with a deadline could well table an offer. I just do not understand why they have not adopted that approach. So many companies have an offer but someone else makes a last minute bid. I do not think bidders have luxury to not allow that unless its a knockout bid. Lets hope we are very close or surely since we had “2 advanced parties” in December 2-3 months later you expect a substantial update and not just a continuing conversation. Mellon must know his stuff so we are probably fortunate he is handling this but he is also so rich he could also not mind on the time taken. he can play the long game but equally agree Nic govt will be keen to sort this deal out also so will be doing what it can but also telling Condor to get in with it. Maybe they build the mine afterall or something completely unexpected. I do not believe Hanna blabbed like this to a punter about price sensitive information when they will have all signed ab nda. sorry that story is ridiculous as that person would get fired.

I think Jim has been holding out on price for a very long time and at some point that looks bad on a so-called dealmaker as no deal should take this long to conclude. It is coming but unless its a decent once will not reflect well on Jim if he has just eeked out an extra few million for 6-9 months delay and possibly more as i am sure they did not start this process without some serious interest. It really needs to happen in next few weeks or the reputational damage to Jim could impact his overall positioning as a dealmaker. We will see. Fingers crossed he accepts highest bid and move on.

While some matters are distasteful, albeit i do not think intended given all employees of Eqtec will have lost money and once you get past this and reset and relook at Eqtec you will quickly potentially see a large scale multibag opportunity without even a great deal happening that we sre not expecting over the come 18 months. We will see how this plays out but obviously for many who only made a single investment i doubt anyone will recover the losses and that their stake today is valueless. That is a considerable tragedy and agree DP and JVL have a lot to answer to on that. However you need to reset and relook imho and look at this fresh and probably recover losses of the past.

I am happily building a new position as the company is worth more than £4m and given we have limited debt and a lot of valuable in assets you have to remember a lot of that £50m was invested in Italy, the US and elsewhere. While the company has written off the investment on its books we all know Northfork is about to be commissioned and go live and i expect that Eqtec will retain its 49% stake on similar once the dust has settled. this will lead to a $10m valuation that will be sold or refinanced. We also have a relatively solid case with Logik (spelt correctly) that is worth up yo £4m potentially + costs. There are assets like this littered around Eqtec that on commissioning of the plants will grow in value. if you simply get past the point of thinking Eqtec will survive you quickly see a company overnight worth £10-£15m and then with successful contracts with Idex incoming and more projects in the US will grow to £50m shortly afterwards. The downside is the bad taste left by the board in their poor risk management and potentially their relationship with altair and others who might have been selling us down the river. obviously if the share price was not bombed to this extent we would not be so upset.i am confident there is a lot of value in excess of the current market valuation that will be repatriated.

We are just so undervalued. we were over 2.7p in sept 2020 last time we felt the finance was going to be signed. i know as i bought some more at these prices :( Anyway lets hope this is the final one that everyone has been waiting for literally the last 10 years! For those lucky to be in this early on the upsurge i definitely am jealous as you have saved yourself the last 3 years of pain! There is a lot of news coming next 6 weeks so where this ends i am not sure by i am hopeful 2.7p will come into focus by then as would like to see my conviction in the project prove correct, even if Harry is the master of plate spinners. However most CEOs would have dropped the plates 5 years ago.

.9 breached but one hellova long way to go to get to a sensible valuation. Good to see finally we have some movement. Gla

.8 crumbled in the blink of an eye. This will rise quickly. I remember s few years ago on expectation of the finance happening we headed quickly towards 2p that given how Saudi has progressed and reality of TK situation this feels extremely likely to be breached in the lead up to the expected news. Gla

Next week we step up a gear!

I wonder if Condor will wait to announce final deal or if they can do an interim announcement to flush out any last minute takeover opportunities and raise share price closer to value. Anyway lets hope Condor conclude very soon. We might be thanking them if the price is higher than we hoped but my concern is time elapsing as we would be close to first pour if we could have worked up a mine build. hopefully we are in the last 6 weeks and this is done by end of March.

Certainly feels like .8 now in sight and no reason to not start to move a lot quicker and pop through a penny before month end. while AIM has some crazy valuations if you think TK is happening this is one of the most craziest.

So much news expected im surprised we are lingering at these levels given our crazy low market cap just considering our single TK mine and $320m finance incoming. Surely £35m is a nonsense valuation? That is barely the dividend we could receive in less than 5 years time. Anyway .8 should be quickly swallowed as really the hold up was around .7 and that has all been cleared. We really should be 1-1.6p over coming weeks towards drawdown on equity later in May 2024.

Its times like this when Eqtec is valued at pocket change of £4m having had over £50m poured into the company over the years. There is every reason that we can recover to a £50m valuation with a business turnaround that categorically moves towards standing on their own feet. Eqtec literally cant even raise £500k anymore as they burnt all their bridges and credibility with investors. The only way forward is to stand on their own feet and make Eqtec a success and i feel we will be far more successful doing that than simply raising cash and spraying it at projects. You only need to see the disasters of multiple projects to see how poorly they mitigated bad deals. However Northfork i suspect will give us up to 49% of the project once all dust has settled and easily a $10m+ valuation on that project alone that should be possible to refinance. From £4m value today we already doubled in a day but then gave that all up. Chances are more 100% days are ahead of us.

We must assume we are still in a 2 horse race and while i hoped February should have been enough time to finalise this who knows if Bids are not edging up and explains time taken to seal the deal. There is still a week left of February but the board must ultimately call time as we are well into month 13 of the sales process and that is a considerable time to deal with any outstanding matters.

Looks like MMs are on the ropes and lacking stock so this is going to start moving a lot quicker. Notice the bid is pushing higher and quite quickly this week and ask will now move up towards .8. With weekend close and possible news incoming will not take much to push o now.

Pushing on and great to see .71 bid and hold all of today. Could be nice steady rise coming.

Hopefully all companies have put a date in the diary to sign this off. It should be ceremonial really as these investors have been onboard for years and Harry has said he has investors who can take up any slack. Certainly early March would be likely or for the second bank to approve the other portion of the debt. Still amazed we are around .7 but that will change very rapidly.

Actually correct. Last few years only brokers got warrants for converting into shares so not sure if an RNS is needed when broker sells its shares as i guess they might need to rns that. Placing has been .8 and .7 last few years so i just guess a lot of shares changed hands at these prices so might take some energy to overcome. Last time was in 2020 for settling debts.

“28,251,750 ordinary shares which the Company has agreed to issue to project contractors and other third parties in settlement of outstanding invoices and debt of £452,028 (the "Settlement Shares"); and

· 30,733,097 ordinary shares representing an aggregate value of £491,729 which are intended to be granted to certain directors and management of the Company in lieu of accrued cash fees and salaries (the "Remuneration Shares").“

Good to see the slack taken out of Kefi yesterday. Now we are pushing on with the bid above .7 and hopefully tickle .8 very shortly. The moves are likely to be quite quick and sudden given a lot of the issue was getting over the last placing price around .7 and different parties got shares in lieu of payment etc that they continue to offload. Looking forward to seeing 1p in the rearview mirror and probably before the month end.