Member Info for dustofnations

I don't think any of us would be happy to exit at 28p! That's why us LTHs are happy to sit and bide their time, and support the company as necessary.

Every LTH must decide for themselves, but I'm certainly not letting the market grab any of my shares at today's prices, nor at 28p.

As always, there will be ups and downs. But I think the team are moving things in the right direction, and their increased communications with the market are appreciated.

And I'm not referring to you, petergar.

QFI has been afflicted with exactly that kind of concern trolling and sealioning for the best part of a decade.

Those of us who have stuck around Quadrise and AIM for a long time have seen *precisely* this archetype before.

Hmm. Weird that you only turn up when there's good news.

Do you hold a short position you should declare (e.g. CfD, puts)?

New MK interview with Edison

http://fast.wistia.net/embed/playlists/4ktdulz2im?media_0_0%5BautoPlay%5D=false&media_0_0%5BcontrolsVisibleOnLoad%5D=false&theme=tab&version=v1&videoFoam=false&videoOptions=

I posted at an inopportune moment yesterday in the midst of a heated debate. I hope nobody minds if I post the latest Quorum again so folk don't miss it:

https://quorumzine.gitlab.io/quorum/content/2019/05/31/QFI-revives-key-KSA-project-with-Al-Khafrah-along-with-several-other-substantial-MOUs-including-Bitumina-in-CIS-and-API-POLY-GCL-in-China.html

Coverage of KSA, Bitumina, China, Kuwait, EOM, new NED Bryan Sanderson, and much more!

There's also a small profile on Karpower -- the leading powership company. They provide, essentially, floating power stations, and are mostly HFO-powered.

Please share and let me know what you think -- feedback is valuable.

QFI revives key KSA project with Al Khafrah, along with several other substantial MOUs, including Bitumina in CIS, and API POLY-GCL in China.

Former Standard Chartered Chairman Bryan Sanderson joins the board of directors at a key moment: QFI have revived their major KSA project with an impressive new partner, whilst also establishing new MOUs with bitumen experts Bitumina, and China-focussed energy company API POLY-GCL. We also have coverage of progress in the European Oil Major and Kuwait projects, amongst other editorials, and relevant industry news and analysis.

https://quorumzine.gitlab.io/quorum/content/2019/05/31/QFI-revives-key-KSA-project-with-Al-Khafrah-along-with-several-other-substantial-MOUs-including-Bitumina-in-CIS-and-API-POLY-GCL-in-China.html

The following amendment has been made to the 'MOU with Al Khafrah Holding Group' announcement released today at 7.00am under RNS No 5230A.

The correct heading of the announcement should have read 'MOA with Al Khafrah Holding Group'.

https://otp.tools.investis.com/clients/uk/quadrise_fuels/rns/regulatory-story.aspx?cid=1580&newsid=1271415

""
Commenting on this development, Mike Kirk, Executive Chairman of QFI, said:

"We are delighted to have concluded this agreement with Al Khafrah. Their capabilities and established relationships within KSA have an excellent fit with our expertise and technology. We look forward to progressing the MSAR® KSA business with them.

Saudi Arabia is a key market for QFI with significant business potential, especially as KSA seeks to optimise its energy resources and deliver immediate gains underpinning the Vision 2030 initiative.

Under the MOA we see a clear pathway to completing the Proof of Concept project that was originally planned and the wider commercial adoption of MSAR® to reduce energy costs, in conjunction with exciting IKTVA projects to maximise local content to the benefit of KSA's economy."
""

""
Emad Al Shamma, Chief Executive Officer of Al Khafrah Holding Group, said:

"We have a systematic and established screening process that looks at the merits of innovative industrialisation, proven technology, sustainable new ideas, maximised local content and fit with Vision 2030 for KSA. Quadrise scored highly in all sectors and we have been extremely impressed with our dialogue with the QFI team, where we have rapidly established shared values, common goals and well defined objectives between us.

We are convinced that MSAR® technology and fuel offers great economic and environmental benefits for KSA at large. The diligent work that Quadrise has carried out to date in KSA provides the platform that, together with the resources of the Al Khafrah Holding Group and our strategic initiatives in various sectors, should enable us to jointly secure commitments for the Proof of Concept trial and future commercial applications expediently to the benefit of Vision 2030 and KSA."
""

Small typo correction, Fyoz: 5 million tonnes! Still a lot :-).

Oh, and I missed a big one:
- Bitumina (CIS, Vietnam, others)

The good thing is that the new strategy no longer leaves us reliant upon a single partner.

- Aleph Commodities (Kuwait)
- API POLY-GCL (China & HK)
- Freepoint Commodities (Global)
- JGC (Japan)
- European Oil Major (Global)
- Mr Maamar (Morocco)
- YTL-PS (Singapore)

The team also confirmed that we're still engaged in marine, with 'significant operators', are still speaking to Maersk, and are actively engaging with new partners in KSA. If we do re-engage, they will no longer get our exclusive attention, and hence we avoid falling into the same traps as last time.

Longer term, we also have agents like Mr Rakotomalala (Madagascar), and the team says there are interesting prospects in places like Mexico and Ecuador.

There is still plenty of risk here, and any investor must be cognisant of that. But I like this approach much better than chasing one giant project. Much less counter-party and scheduling risk.

I highly recommend anyone with an interest in QFI listen to this.

It was a very good session with lots of good questions.

From recollection:

Backpay: this will not affect the funding schedule as this was already factored in.

When there might be more than an MOU: said the existing guidance remains intact.

Hope that helps.

BTW, I *highly* recommend everyone visit the QFI Shareholder Forums, as clarification posts have been made there today which will be very useful to anyone interested in the EOM announcement

Also, for anyone who missed the conference call, RichPickings made an excellent summary post.

In short, QFI believe they have identified other partners who are more likely to have the clout to progress MSAR in KSA. So, terminating the exclusive agreement with Rafid is an important step in allowing them to pursue these new leads.

I imagine it will be something like Hawazin perhaps (the founders of Hawazin are both well-connected in Kuwait, as well as being able to provide services, construction, logistics, support, etc.).

I don't think it's necessary to insult holders of this stock, foxm.

We've noted the recent progress QFI have made, yet are simultaneously all very much aware of the financial situation and how important timing is.

Having personally met many of the long-term holders, they all have their eyes wide open to reality, so don't worry about that.

We can, and do, consider multiple factors and influences at once.

Investor Conference Call (3pm UK, Monday 20 May 2019)

RNS-R: https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/QFI/14074105.html

Quadrise Fuels International plc (AIM: QFI) announces that, following the recent announcements by the Company regarding entering into a number of Memoranda of Understandings and/or agency agreements with multiple parties for the advancement of business development initiatives in Kuwait, the Commonwealth of Independent States (including Russia), Poland, Romania, and Vietnam and China, management will be hosting an investor conference call at 3pm (UK) on Monday 20 May 2019, where it will provide investors with an opportunity to ask questions on recent developments.

Looking forwards to it.

Just for some context, Shore Capital recently acquired Stockdale Securities -- hence QFI-related content now coming from that avenue.

I don't see why his Bryan's willingness to take tough jobs (e.g. Northern Rock) is an indictment on his ability in the slightest:

Do you choose a lawyer by their win percentage? No, because they could just reject all hard cases to keep their win rate up!

You need a more sophisticated assessment.

He's done a tonne of high-profile jobs and generally seems to be extremely well respected.

We have been consistently told to expect updates later Q2 through Q3.