Member Info for Simms45

The key is 2 advanced buyers. This makes a market to firm price and get a deal finally and hopefully closer to 60p. Buyers will anyway get an absolute bargain as even worst case scenario now from production at $2000 an ounze will be over $120m positive cashflow to pay off the purchase price in 1 year or so from production. Then investors can pocket in excess of that for eternity and be sitting on a $300m asset. Madness to sell La India for such a shockingly low price if it is around $120m but we stand at £30m today so triple bag is very likely in as little as 1-2 months if deal is being signed now for January release. Just a shambles to have not JV’d this project from the start and allowed pis to keep 50% of the company. We would be well over 60p by now going into gold production but we live and learn. MC told investors he was going into gold production by buying mill and so on but then pulled the rug, seemingly because he had big offers to buy the mine but now turns out he did not. Now after 12 months we might conclude a deal but had they gone ahead with gold price today we would have buyers circling and paying closer to NPV. Mellon has played a blinder using the year to lower his average so he walks away with a profit. Pis if lucky might walk away with the investment they originally made as i suspect averages overall are closer to 40p but we will see. We might get a bigger price and who knows if the low ball offers were around $100m.

Totally agree. This was all known before the disastrous dead with Altair and Pitcole. Pis have been royally done over. We now have a big seller in the background selling into news. I suspect we see a rise today but sold into. Maybe DP has a deal with Altair to help them out or Pitcole. Their last debt to equity deal wad a sham based on all these deals pouring in with cash for basic engineering work. All great news but it stinks of something. We will see.

I found the update video very compelling. Most confident i have seen MC so you either believe what he is saying or you dont.

For Northfox there are different steps to commissioning just like Italy so different teams come in for commissioning. Italy while commissioned earlier this year is still largely in commissioning phase with optimisation. I do not know what Phoenix mean by commissioning as it will mean something different to other teams. Anything coming on stream in January/February will be a huge step in the right direction but will optimisation could take us well into 2024 but i hope we have a plant operational as a further 50 deals will come in after this. We first need to see out big seller finish as we are at an all time low while this happens. At same time Altair has tightened its grip on company with a large slice and Pitcole is now a big investor who might have nefarious plans. DP and Babar (useful idiot) has brought havoc to the finances and decimated an incredible company that has so much potential and i only hope pis are able to recover thier losses. I do not doubt one day the company will be £500m company but Eqtec is controlled and on a short leash by a small number of investors. Once seller has gone and steady the ship completely i hope the company can be reborn. I hope David Saint can replace DP in the new year as DPs gung ho attitude is great at times of plenty but has come unstuck lending North Fork cash with no security, advancing Logic cash with no levers to get back if things dont go to plan. Babar was nowhere to be seen and his exit was far too late. The damage limitation has been good but we probably will not come out the other end until february or march 2024 when we get resolutions on so many things.

You are not in Nic right before christmas going in and out the Chinese embassy for fun. We are close as MC was teasing early New Year. Shame not before but we are probably closer than we think. Given it has taken a year of hard negotiation i hope it will be north of 50p as that is only a small premium to share price before they started this process. Condor should float back up to 30p between now and New Year.

Problem is if Pitcole are selling they have billions of shares to offload. Nothing worse than seeing a company with fantastic potential simply destroyed by a seller to the point you doubt your own belief in the future. Question is when will the seller end as it could go on for months at this rate. It has to be Altair or Pitcole really and more concerned its Altair as DP has a close relationship with and obviously Altair are the main placing partner. Someone mentioned idea Eqtec sell shares to Altair and then Altair sell the same shares to pay back some level of borrowing they might have taken out to advance cash to Eqtec. Stranger things have happened.

At current gold price we must have an NPV over $600m and this is only the base case excluding Mestiza and Americas pits. All Jim is doing is standing firm on the level of discount he is willing to offer as we are worth today a tiny £30m, barely 50% of what has been invested in the mine over last 12 years. Even a triple bag from todayis a big loss to investors due to cost of money over this 12 year period. The share price is so far removed what is being discussed as an asset sale. Obviously the share price is a huge distraction and i suspect a serious value could be achieved more readily as a private company but it sounds very firmly we are into the final straight. Longer than expected but a decent exit for investors and a probable 3x from today.

I particularly like the sound of

“until a desired price is achieved”

Which sounds pretty confident. Certainly feels like a triple bag in-waiting for those looking to invest until at least the early year and with gold price ascendency and interest rates set to drop quite quickly next year buyers i suspect will be also looking to tie this up before market changes and asset prices rise.

Seems so much activity in Saudi and Ethiopia all of a sudden. I have a feeling that TK will be sold long before production starts to a major player so Kefi can focus on Saudi. Once we have financing and close the $390m finance and get closer to production no reason a Newmont or someone else will come along and pay $400m+ for TK including debt because it will be the biggest and most important mine in the country and i suspect Ethiopian government would well support that move as a major will have deep pockets to drill and find more gold. Majors also want to deploy cash into projects throwing off cash so i suspect 6 monthd before production we will be sold. Could happen sooner but Hawiah and Saudi is where the big money is and with cheap energy mining costs could be low compared to peers. Breakout coming!

Its clear the price aiming for is double of triple todays price. It sounds this all could be wrapped up by the start of New Year and we have cash runway for next 6 months and Jim will keep backing Condor until he gets the price he wants. Sounds we are in the final stretch, longer than expected but maybe with gold close to all time high and gold companies sitting on billions of profits looking for a new home Condor might get its timing right, although JV 12 months ago was the best outcome but we stand at doors of a sale.

Well we have to assume these advanced talks will be the one we are waiting for to complete the sale

“ the Company is in advanced discussions with 2 gold producers. There are currently eight companies under Non-Disclosure Agreements”

Have to say the latest video was one of Harrys best and given this was a week ago and this week is key we should start to make up for lost ground this week. The disconnect in value is staggering now with gold pushing $2100 and in next few years might be considerably higher as interest rates fall and cash looks for a safe haven. The bigger players will be waiting for confirmation before looking at Kefi as the biggest rise is between financial close and first pour and in this case could easily be 10x over the next 18 months, if not a lot more with positive news on JQ and Hawiah. its possible to see a scenario where both JQ and Hawiah go into production not long after TK and then we are looking at becoming a major gold and copper producer in 2 of the least exploited juristictions in the world. The rewards both governments will bestow on Kefi in new licenses could be substantial and highly lucractive. Subject to expected news i would pu this as 2-3p by New Year any maybe after DFS for Hawiah and JQ 3-5p. gla

We have all the backwinds we need. Peace in Ethiopia (well as good as if can get), mom and president of Ethiopia smiling and speaking highly of Kefi, all regs changed to ensure this deal happens and gold price heading to $2100 making this an incredibly profitable mine that will make the queue for investing in the mine even easier and the payback quicker. Once we move from explorer towards producer we should rise over next few years into behemoth with one of the biggest set of licenses in Ethiopia and Saudi that will become very valuable. Next week are meetings and we should get an update towards credit signoff.

Hopefully that sell of £68k is the last of the overhang at .7 that has been filled this week. Could be part of the broker commission or such like from last placing at .7. Next week hopefully we start to motor to a penny as it is long overdue.

Ask now ticking otherside of .7 as we head into weekend. Could be a little breeze today to make some progress. Lets see as we are into last 2 weeks and news could drop anytime based on all meetings and dealings going on in Addis this week. Early news would be great but would like to see some news leading up to this to spell out the huge windfall to Kefi shareholders.

Why was there no big fanfare of this “major” deal or press to support the positive benefits. It looked loss making, albeit profitable in the past. Positive spin is CNE must be drowning in cash and this deal will immediately drive a rise in profitability. Its possible CNE borrowed the £5m and Green owed CNE a lot of money so has now paid out what it owed. The other option is the CEO is up to his tricks and we find Green were best buddies from school and large backhanders are involved. Surely RB was all over this deal as non exec? He is supposed to have full oversight of deals and the new risk manager would have been involved. shareprice has dropped but its almost 0 liquidity so price movements happen with no volume. Can RB comment to provide clarity to the merits of the deal and that this is not a deal with brown envelopes.

Its common in Northern Europe to have local district heating based on incineration. However its alien to the UK. While i expect as incineration operations or similar in Nothern Europe evolve into gassification and most likely modular Eqtec plants but the opportunity in the UK could be vast once we have a working example for a mixed feed. So much opportunity over next 10 years but Eqtec must focus on cashflow today. Recent Hawaii deal pays all wages and cost for next 6 months so effectively not burning cash. Its great timing so by early 2024 i hope refinance of Italy and Gardanne and some real revenue deals start to ramp up. DP owes all investors who spent £50m of investment in Eqtec.

https://www.thenational.scot/politics/23957792.denmark-solution-scotlands-heating-problems/

Yes i suspect Pitcole or Altair could be offloading as anyone who was buying 50m shares at a penny or even .5p would have been picked up. Maybe they hope to push the shareprice lower and force Eqtec into a corner. How Eqtec cant get on top of these strategic investors offloading is ridiculous. Altair cant really go over 30% holding so it might be offloading a billion or so. Hopefully not.

.7 has been a previous point of resistance but i believe we are close to removing the resistance as we need to hold .7 bid for the rest of the day. Possibly less than 2 weeks before Kefi join the major league of mid tier miners, unlocking around $100m of sweat equity and putting our Saudi assets in the sunlight where they belong. This has been 12 years in the making so painful as it has been this could change everything.

To put this into context this 7.5m euro project is worth in revenue 40% more thsn our entire market cap. The upfront 170k and 300k work will be highly beneficial as this is for services and highly profitable. What we forget is our technology is the leader in the market for modulat gassification so we will be able to make sizeable profits in engineering services as we will have templates and IP to work from so the man hours will be far less. This is the new model but we need to see that dozens of these can start. The final build cost is likely to be low margin but the subsequent maintenance contract will be highly valuable. This subscription revenue once plant is built is the real value of the company in the end as it can have very high margins as often there is no maintenance for periods of time.