EQTEC completes capital reset and pivots into copper-gold exploration

EQTEC plc ( (GB:EQT) ) has issued an announcement.

EQTEC has completed a wide-ranging corporate reset that raises £1.3 million in new equity, materially restructures about £5.8 million of existing debt, and significantly de-leverages its balance sheet while removing near-term refinancing risk. The company now retains £1.93 million of long-dated, zero-coupon secured debt and £1.93 million of unsecured debt in its Spanish subsidiary, has cancelled existing lender warrants, and has issued new shares to lenders, creditors and management, alongside implementing a fresh warrant-based incentive scheme for executives.

In tandem, EQTEC is moving into copper-gold exploration by acquiring 99% of the Green Rock project and securing an option over the Peak Hills project in Western Australia, paying mostly in shares at the placing price and appointing a lead geologist compensated largely in equity. Subject to admission of the newly issued shares to trading on AIM, the company will have nearly 8 billion shares in issue and is progressing its approved name change to Forgent plc, marking a strategic repositioning that broadens its asset base while reaffirming gasification as its core business.

The most recent analyst rating on (GB:EQT) stock is a Sell with a £0.06 price target. To see the full list of analyst forecasts on EQTEC plc stock, see the GB:EQT Stock Forecast page.

Spark’s Take on GB:EQT Stock

According to Spark, TipRanks’ AI Analyst, GB:EQT is a Neutral.

The score is primarily held down by weak financial performance (ongoing losses, leverage, and negative cash flow). Technicals add further pressure due to a persistent downtrend, while valuation provides limited support given the negative P/E and lack of dividend data.

To see Spark’s full report on GB:EQT stock, click here.

More about EQTEC plc

EQTEC plc, soon to be renamed Forgent plc, is a technology-led energy transition company listed on AIM that focuses on gasification as its core long-term value driver. The group is now strategically expanding into critical and precious metals through copper-gold exploration projects in Western Australia, complementing its existing clean energy technology activities.

Average Trading Volume: 65,839,932

Technical Sentiment Signal: Strong Sell

Current Market Cap: £488.9K

See more insights into EQT stock on TipRanks’ Stock Analysis page.