New letter to Jason and Andy26 Jun 2024 09:32
Jason and Andy
What is happening with MSC we are now 15 months passed the initial planned trial date. Complete silence from you both. What have you not planned for or what’s gone wrong?
Its very clear you have announced very positive updates around each funding on all projects only for these project seeming to have future dalays
I’m worried again with your lack of progress on important projects, that yet again you will run out of money it would be nice to have some re-assurances on this
Please can you give the market/shareholders an update on all projects with well thought through timelines, clearly this has been a struggle in the past and highlighting risks would be welcome.
MSC Summary
27//22 Framework agreement signed proof of concept by Dec 22
16/1/23 Trial scheduled Q2 2023
3/3/23 Wartsila test completed successfully
29/3/23 MSC Leandra Dry Dock Q23 Testing H2 2023
16/5/23 Trial expected to start Q4 2023
7/7/23 Placing and Subscription
7/7/23 Investor presentation with positive update on MSC
2/22/24 Cargill announced Trail start Q2 2024
18/2/24 Trial Mid 2024
18/2/24 Placing plus subscription
20/3/24 Another Investor update
29/4/24 Delay …Will provide an update in due course while finalizing project
3/24/24 Via video update. Will close agreement end of month, permit expected by end of month, deliver fuel mid-year for trial.
If anyone else would like an update suggest you also write to them both