focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Iantobach
Ill keep my fingers crossed for 12th december
Will we get an update by EOY?
All Great news ...Have to purchase a few more
Very well or with any major same reaction
Kolonic.
"Is that Lionel bloke not 46G who posts on here? He's been posting the same negative stuff about funding on here for weeks, while at exactly the same time admitting to having sneaky £10k top-ups. Has anyone sussed his game plan yet?"
Ive been the only poster who has pointed out that the funding will be Q1 (Feb latest) while the Board have been posting June 2024 the money runs out which is subject to Valkor happening and on time giving the $1m lifeline. Thats not negative its factual which when discussed today at the AGM both Jason and Andy confirmed I was correct. All I'm doing is getting the correct information for all (sound like you are unable to peace all the piecces together) Sneaky £10k get real - thats being supportive and to add to this Ive just bought another 800,000 this afternoon as I enjoyed the chat I had after the AGM with both Jason and Andy...and may even purchase a few more next week
Successful Completion of Industrial Demonstration Test
Quadrise Plc (AIM:QED), the supplier of innovative energy solutions for a cleaner planet, provides an update on its fuel trial in Morocco following the announcement made by the Company on 31 October 2023.
Quadrise is now pleased to announce that the industrial demonstration test of MSAR® and bioMSAR™ fuels at the client's site in Morocco (the "Trial") has been successfully completed in accordance with the performance criteria of the agreement announced by the Company on 13 June 2022.
The client's industrial unit was processing product at commercial scale throughout the Trial, with the Company's fuels used to provide the required thermal energy for drying. The objective was to make a direct comparison with normal operations running on heavy fuel oil. The industrial unit in question was successfully operated at varying loads of up to 100%, equivalent to 33MW of energy that is supplied by a single burner. This is similar to the energy consumption of a medium-sized container ship.
The final phase of combustion optimisation tests recently completed involved experts from Quadrise and the client fine-tuning combustion at full (100%) load and production rates using Quadrise fuels.
Emissions from MSAR® and bioMSAR™ combustion were very low, and well within environmental limits for the site. This was the first demonstration of bioMSAR™ in an industrial application. Quadrise is now preparing a technical report to submit to the client within the next month.
The parties will now enter into discussions for long-term commercial supply, in conjunction with reaching agreement for testing at the client's other sites to expand supply opportunities for MSAR® and bioMSAR™ fuels. In parallel, the Company will continue work to ensure the supply of appropriately located and priced residual feedstock.
Further announcements will be made, as appropriate, in due course.
Commenting on the update, Jason Miles, Chief Executive Officer of Quadrise, said:
"We're delighted to have finally completed this commercial-scale trial in Morocco, which has demonstrated the stability and performance of both MSAR® and bioMSAR™ in one of the client's major facilities. We would like to especially thank the client and our shareholders for their continued support in achieving this positive outcome, and we look forward to discussing commercial supply and applications in other major facilities with the client."
PR lets hope you are correct
What normally happens....
We miraculously get 1 or 2 positive RNS's in the week running upto the AGM which at the meeting takes the focus away from all the crap thats been happening in the passed year. based on this news we always think everything is now ok new timetable update and everything is now looking fine......Year after Year....Funding after Funding.. Chairman after Chairman....new product development after other product devepolment....I may post in a couple of day what i think will happen in the next couple of month would be good if others did the same on the following timetable
November News
December News
January News
AKHM
The Chairman has said they will not be cash flow positive until H2 2025 at the earliest so probably 2026. I guess this is based on having Revenue from MSC. So are you suggesting someone will lend them £6,000,000 on the hope they get a contract from MSC?
Clearly another contract signed do not get them to a position of positive cash in the forecast
HotFinance
As I posted yesterday the Funds run out June 2024 with Volkor and Q1 2024 without Volkors $1.5m. So if their is more delays with Volker expect a funding December / January.
Beyond June 2024 until cash positive H2 2025 QED will need another £4.5-6,000,000 at their current burn rate. See my post from yesterday with greater details
HotFinance....Clearly not see Andy's comments below:-
Going Concern....
The Group had a cash
balance of £1.34m as of
30 June 2023. In July 2023,
the Company raised funds
of £1.94 million (before
expenses) via a placing and
subsequent open offer of
new ordinary shares in the
Company. Based on the latest
Company forecasts which
assume the anticipated
and important receipt of
an aggregate of US$1.5m
from Valkor as described
above, these funds are
expected to be sufficient to
reach forecast commercial
revenues and cover net
project expenditure and fixed
costs up to the end of June
2024. Additional funding
will be required beyond this
point to bridge the gap to
the generation of sustainable
positive cashflows, which
are currently planned to
commence in H2 2025.
Hotfinance
Staff & Office cost are £110,000 pm
Product and Development £140,000pm
WongaFC
100% agree....Are you going to the AGM to voice this?
Coldfishpie
I know you are just trying to be possitive and have loads of wishful thinking ideas.
But to follow on from my post the BOD are likley to have further delays and unforeseen issues (pumps etc) so the realality and to be prudent they should look to riase £6,000,000 plus to give them a little fat.
Is this possible next year H1 with the market as they are..Guess a big question mark????
Which is why for the last year I have suggested to the BOD more than once they should seriously consider a trade partner for all the obvious reasons.
Coldfishpie
Let consider the facts:
Cash July 23 £3,240,000
Valkor £1,250,000
Total £4,490,000
Andy has stated this will last through to June 24 and also assumes $1,500,000 from Valkor
On the best assumptions with everything coming in on time as currently stated they will not be cash possitive till H2 2025.
So thats a gap of 12=18 month with NO money and NO MSC contract.
The burn rate is circ £250,000 being generous which mean current shortfall is £3,000,000 - £4,500,000 from June 24 to H2 2025.
All the above assumes everything from now will be on time and go as planned.
If Valkor does not raise $15,000,000 QED will recieve possiily nothing which mean the moneywill run out by Q1 2024 maybe January worth thinking about??
If they need to raies between £3-4.500,000 Q2 2024 how will this be achieved the last only riased £2m was under-subscribed
Maybe they could do this at £.005 that would be a further dilution of 50% for all shareholders. (current Market cap Approx £20m at 1.25 per share)
If all this happens ONTIME and we get a very speedy adoption by MSC sometime in 2026 I would assume the shareprice will be higher but another funding would be required as MSC will not be happy to base their future with a company with no liquidity
Coldfishpie
You are missing the point.
They will have to do another funding just to get to the end of the MSC trial. Yes if successful it goes with saying it will be easier to raise additional funds. So that's 2 more funding before we see any real revenue coming in from MSC. Should no projects generate zero money over the next 6-9 months then it will become very interesting
COLDFISHPIE
I love your optimism .....
"If things go to plan then it should not be needed🤞"
Sadly it will not go to plan. They will run out of money plus should MSC want to move forward with QED after a successful test they will also want QED capitalized sufficiently. No major would do a huge comittment to a company with no or little money
Coldfishpie
Hope you go to the AGM and express your view
Page 30 from the current report accounts show the BOD costs have risen from £457,000 2022 to £607,000 2023.
This is a huge increase baring in mind..........
The company has no commercial revenue
Every project is significantly delayed
The last funding was substantialy under subscribed
The business currently does not have enough money to concluded the MSC trial.
In addition to very generous share option grants.
Jason take home is nearly 20% up over this period......
Im begining to wonder what page the chairman is on
Still moving north