Member Info for dustofnations

Kitkateat - big uptick in the last few weeks of the 'deeply concerned', those enthusiastically announcing that they're selling, etc. Maybe CFDs, SBs, true short positions, etc, under pressure.

I broadly agree with some of the points made re: BoB, but we don't need blend-on-board to bypass refineries.

That can be done with MSAR/bioMSAR by producing it at a marine terminal, site of feedstock production, etc.

For example, Valkor intend to produce MSAR/bioMSAR directly from their Utah site with no refinery involved.

And bioMSAR doesn't require refinery integration to be economical (e.g. can use HFO).

I think a key benefit of blend-on-board is that it can serve the tramping market, which is things like bulkers and tankers.

Many bulkers and tankers don't serve regular routes, and therefore it may be that they don't visit a port with MSAR/bioMSAR bunkering facilities, and hence having the ability to produce MSAR onboard could be attractive to reduce CO2, increase efficiency, etcetera. The tradeoff is needing additional equipment onboard (i.e. cost and maintenance requirements). But for those sectors, it should certainly be worth it, because they have no easy options to guarantee access to lower carbon fuels.

This looks like a great project with quality partners.

Sorry, I pasted the wrong link again 🤦‍♂️

This is the one I was referring to:

https://polaris.brighterir.com/public/quadrise/news/rns/story/xzq6mpx

New rule for myself: never post on LSE on New Year's Day.

Right, I'm logging out now before I duff anything else up.

Have a wonderful day, everyone!

Https://polaris.brighterir.com/public/quadrise/news/rns/story/wk53qyw

I believe the number was around 772,543,391

(Kolonic, unfortunately your RNS link also isn't working for some reason, but it looks the same)

So around ~2.3x more shares in issue now vs the previous peak — if I've not fudged the numbers again.

Apologies to everyone for any confusion with my use of the wrong data source — as Kolonic pointed out, Quadrise started using an old symbol that used to belong to a different company, so it's easy to accidentally pick up the wrong RNSes when you research historic data.

My bad though, and I'll be more careful in future!

Sorry, Kolonic, I duffed the link. Let me get the right one.

Peak price of around 44p was on 20th December 2013.

Nearest TVR to that time = 521,484,112

https://www.investegate.co.uk/announcement/rns/quadrise--qed/total-voting-rights/3451705

Today we have 1,764,714,550 shares in issue

So around 3x more.

However, due to bioMSAR, the market potential for Quadrise is larger now than it was back then (in my opinion, of course).

But yes, some perspective is required and mcap is the useful comparative metric rather than share price.

Jason did *not* say $1 million would be paid by Valkor by end of December.

Amazing how we always get a flood of "very concerned" posters when the SP goes up. Often with brand new accounts.

Concerned about their CFD position being margin called, perhaps?

The team said most of Q1 would be taken up with installation and preprations.

Leandra won't necessarily be kept on the same route and/or schedule (e.g. even if same route is maintained, they may alter the schedule to fit POC/LONO). They have plenty of other vessels to ensure the standard timetables are met.

As further evidence for that statement, Jason has made it clear the route could be changed; it just depends on MSC's operational requirements in combination with POC and LONO timings. Of course, it will be one that includes an ARA port visit.

Personally, I hope she remains on the current route, as it would be ideal, but there are no guarantees.

I suggest people not read too much into her existing timetable.

Speculation:

Given that Leandra will likely start POC at end of Q1 and LONO at beginning of Q2, it's entirely possible that there will be a large crew change sometime before then.

MSC will likely want to keep as much of the same crew as possible for the LONO to avoid any complications and minimise the number of variables and risk.

She'll just continue on her normal commercial activities, using her normal suppliers, until then.

BTW, Jason said that Cargill are responsible for preparing a bunker barge, which they haven't done yet. Suggests it's not necessarily going to be MAC's bunker barges that are used.

> personally I'm ever so slightly disappointed with it

Just thinking about this with a cold rational mind for a moment.

If I told you 3 months ago that by end of 2024:

- We'd signed a binding POC and LONO deal with Cargill and MSC, two of the biggest private companies in the world;

- Comprehensive tests of bioMSAR and conceptually proven out MSAR Zero with top-notch results;

- Signed up a significant channel partner for retrofitting vessels for MSAR;

- Signed a significant trial agreement in Panama with Sparkle Power;

But sorry... OCP, Valkor, and SE Asian refinery might be in ~Q1.

You'd have bitten my hand off for that balance of results, wouldn't you?

> Folk had got themselves all fired up for the Morocco and Utah news together with an Asian refinery deal by year end

I never pay attention to people who post the same thing 20 times a day, every day. They just seek to flood everyone else out and make it seem that their view is the predominant one by sheer volume. Gish gallop.

Jason's interview suggests we are unlikely to get additional news this year. Probably more in the new year.

It's not a great surprise, considering that many people are already on leave for Christmas and NY.

The main Q4 items have been delivered, so I'm very happy.

Huge MSC + Cargill Marine project;

bioMSAR and MSAR Zero results;

Sparkle Panama trials;

Agreement with channel partner Auramarine.

OCP always runs slower than expected schedule, but they'll get there soon enough. Likewise for Valkor, their timelines are usually duff, but they get the job done.

Plenty to look forward to in the new year.

This is the best Quadrise year-end I can remember for many years. Ignore the traders and SP-driven emoji warriors.

@jackg123, it's way too soon for that, I think.

Here's what is scheduled for the marine project.

1Q2025

- Install QED equipment (MMU, etc)

- Sign bilateral agreements (those fall out of the parent binding agreement that was just signed. Cargill-MSC; Quadrise-Cargill; Quadrise-Mac2/Terminal.

- Produce/deliver trial fuel (to storage in terminal)

- Commence PoC trials

- Jason also verbally mentions that Cargill need to secure a bunker barge, which suggests it may not be Mac doing the bunkering.

None of the above has started yet, but are key enabling steps before we'll see Leandra taking on fuel. The good thing is that installation QED's gear will begin soon. But, I imagine the first bunkering operation will be a couple of months away (which will be for the POC — very exciting) .

Leandra will likely continue on using her regular suppliers until we get much closer.

All that said, we've succeeded with a major goal already. We've signed the binding master agreement between all the parties. That was the key blocking step, and all the rest should hopefully fall into place in due course. Huge progress.

I'm also impatient to see Leandra V bunkering with our fuel and getting underway, but it makes sense to have realistic expectations. Not trying to pour cold water onto 'Leandra Watch'!

Would anyone like to offer commiserations to poor ole Myles McNulty who traded and ramped the heck out of Quadrise stock previously, and somehow managed to get himself invited to shareholder events despite having by then silently dumped the stock.

He's feeling a tad sorry for himself...

https://x.com/MylesMcNulty/status/1869050823386284206

Oh great, emoji guy is back.

Sorry, I neglected to post the link: page 8, column 3, "safer operations", https://wp-quadrise-fuels-2020.s3.eu-west-2.amazonaws.com/media/2024/12/Quadrise-Sustainability-Report-2024.pdf

Read the 2024 sustainability report, it's all in there. See page 8.

PharaohRocher — I agree that whether those items happen in December or Jan is basically irrelevant, as long as we keep seeing consistent delivery of these key projects (i.e. positive newsflow affirming we've turned the corner).

And, hopefully, Quadrise has broken the proverbial dam on some of these projects that we stuck interminably in "discussions continue" mode, and we can transition to scheduled, active projects. The recent evidence looks good.

I imagine seeing the calibre of our recent announcements from key customers and partners has encouraged some of these slow projects to finally sign on the dotted line.

As has been pointed out many times, regulatory and economic pressures are providing some real deadlines for some of our key clients to work against.

ENH Denmark - https://www.enh.dk/

I'm definitely not saying it isn't relevant. I'm saying, "it is a bit more complicated and several other important factors also come into play".