Member Info for haggismchaggis1

OK, got it now, thanks!

https://www.youtube.com/watch?v=3LDAR6Ty7Ok&t=683s

So fuel production yet to start, but imminent. Site B still in Q3, but not completed as planned, by around today.

"The use of glycerol in the oil-in-water emulsions of the present invention may have environmental and economic benefits. Advantages of the present invention may include an increased quantity of hydrocarbon residue derived from a renewable carbon source; increased density of the aqueous phase; improved lubricity; improved viscosity; decreased CO2 from non-renewable sources for the same energy content; reduced sulfur emissions; and reduced water content."

Also:

The oil-phase hydrocarbons can be sourced from a number of established processes, including:
processed natural heavy crude oil or natural bitumen (typically after de-sanding, desalting, de-watering)
refinery atmospheric distillation
refinery vacuum distillation
refinery visbreaking or thermal cracking or steam cracking
refinery cat-cracking (thermal and catalytic)
refinery hydroprocessing and hydrocracking
de-asphalting processes

That is if they went below 3% last Friday.

BC,

Could be!

If they are anywhere below 3% they will have to notify by Wednesday night (possibility of an after hours RNS there) at the latest.

This is the forum, for me anyway.

Closed up 3.7% at 1.525.

Slide 11, site B trial finishing 1/3 of the way through Q3:
https://wp-quadrise-fuels-2020.s3.eu-west-2.amazonaws.com/media/2022/04/QFI-Interims-Mar-2022-WEB-1.pdf

Possibly delayed a bit by the signing of the addendum, but still should be finished soon with fuel production starting around 12 June?

12 June not 16 June:

"We know that agreement was signed on 16 June, so fuel production must have started then (give or take a few days) and the site B trial may have already finished or due to imminently."

DoN,

Ah yes, I had A and B the wrong way round, thanks.

9 May 2022
"Morocco - an updated Material Transfer and Cooperation Agreement with our international chemicals and mining client is now expected to be signed this month ahead of an MSAR ® combustion trial that is expected to conclude early Q3 2022."

Followed by:

12 June 2022 (this was the last RNS advisory on Morocco, nothing has been announced to the market since then, other that what JM said on video)

"Under the terms of the Agreement, Quadrise will manufacture trial quantities of MSAR® and bioMSAR™ for the purpose of an industrial demonstration test at one of the Client's sites. Quadrise will then provide the Client with a written report on the efficacy of using MSAR® and bioMSAR™. Provided the Client-specified deliverables regarding performance and product quality are met, the parties will enter into discussions for a potential commercial supply of MSAR® and/or bioMSAR™."

"In parallel, Quadrise will also complete a technical and economic feasibility study for a potential additional industrial demonstration test at a second site of the Client. This study is close to completion, pending a final visit to the second site by the Quadrise team. T his additional industrial demonstration test will be subject to future agreement, once confirmed."

"The industrial demonstration test and feasibility study covered by this Agreement will occur concurrently, with completion expected in Q3 2022."

Also in the 9 May 2022 RNS:
"The Quadrise trial equipment is in Morocco, and production of the fuel will commence upon signature of the updated agreement."

We know that agreement was signed on 16 June, so fuel production must have started then (give or take a few days) and the site B trial may have already finished or due to imminently.

Nothing QFI have said has changed the length or timing of the site B trial as far as I can see. In the presentation it shows as starting at the beginning of Q3 (1 July) and finishing 1/3 of the way through Q3 (1 August). Fuel being produced from around 12 June could mean it is on track for close to that timing.

I find it strange that Wed to Fri last week I couldn't get a sell quote (just to check actual prices, not to accept said quote) above 250,000 shares, it just went to negotiated trade every time. Yet today I can get a quote to sell 2,000,000 no problem, and the price is the same as it is for 25,000, at 1.465p.

Considering there are not many trades today, and a few sells at 1.465p gone through, I wasn't expecting that I would not be offered such quotes, let alone no drop off in price with a much bigger sell.

To me it suggests a big buy order being filled at this price.

DoN,

Fair enough if that's what they've said.

What we do know is that the Trial A site is shown in the presentation as finishing about a third of the way through Q3, which is today. We also know everything was ready to go on site in June and that they were ready to start as soon as the addendum was signed, which was signed in June. So RNS still likely soon for completion of Trial A??

Vince,

Not necessary, but still a possibility, presuming the new level of transparency covers that?

With the Maersk trial we actually had an update as follows:

"The fuel required for the 'proof of concept' seaborne programme was loaded in November for supply to two Maersk ships equipped with Wärtsilä and MAN Diesel two stroke propulsion engines respectively. The fuel will be used periodically in a series of programmes involving specific operations and load conditions that will lead to final approval to commence the next phase."

That was announced as part of an RNS "Update on active programmes" so it's always possible they could do that again once the fuel has been manufactured and is at the client site.

https://www.investegate.co.uk/quadrise-fuels-intnl/rns/update-on-active-programmes/201401080700051096X/

Interims Presentation from March 22:
"Quadrise trial equipment is in Morocco, and production of the MSAR® trial volumes for the first trial can commence after signature of the updated Addendum."

Addendum was signed 13 June:
https://www.investegate.co.uk/quadrise-fuels-intnl/rns/addendum-to-representation-agreement/202206130700035611O/

Also on 13 June:
"The industrial demonstration test and feasibility study covered by this Agreement will occur concurrently, with completion expected in Q3 2022."
"In parallel, Quadrise will also complete a technical and economic feasibility study for a potential additional industrial demonstration test at a second site of the Client. This study is close to completion, pending a final visit to the second site by the Quadrise team. T his additional industrial demonstration test will be subject to future agreement, once confirmed."
https://www.investegate.co.uk/quadrise-fuels-intnl/rns/material-transfer---cooperation-agreement/202206130730366077O/

Slide 11 of the Interims Presentation from May shows the Morocco site B finishing soon, and site A finishing at the end of Q3.

As it's now 1 August, there is now just 9 weeks to the end of Q3. RNS should be flowing real soon as the trials should be starting imminently and progressing for up to 9 weeks. I am thinking the first RNS will be 'fuel manufacturing started" or "fuel manufacturing completed, trial burn starts on [x date]"

Ufufuo,

Great summary, thanks!

The only thing that logically seems to be keeping the price here, is the overhang from the placing. It may take news such as an upgrade on the target for CH-1 based on the 3D results expected around month end to boost demand and clear the overhang, or if that does not appear then it'll be when the spudding happens and all the oil stock traders jump on the bandwagon. Suffice to say that the real value always outs in the end, so a great time to accumulate while the price isn't really moving up or down.

Rob,

And he's restricted on selling for 6 months, unless he has an emergency.

"You are not permitted to invest in securities or related investments in any relevant organisations on a short-term, speculative basis. This is for the protection of both you and the FCA and PSR, as such investments could more readily create perception of abuse of information than other investments. Permission will normally not be granted to sell any securities or related investments if the securities have been held for less than 6 months."

"In exceptional circumstances, you may be given permission, to sell (but not buy) securities or related investments when you would normally be prohibited from doing so. An example would be a pressing financial commitment on your part that could not otherwise be satisfied. The decision on whether the circumstances fall into this category must be made both by your manager and, to ensure consistency, by the ethics officer."

https://www.fca.org.uk/publication/corporate/code-of-conduct-for-non-executive-directors.pdf

Barking,

"A closed period is a 30 calendar day duration that precedes an issuer's obligatory public announcement of an interim financial report or year-end report."

But as you said in your previous post, QFI are not in a closed period. H would not have been allowed to buy if QFI were in a closed period, as it is now the norm for any listed company to put a restriction on PMDR and employees dealing in their own stock during a closed period, to avoid any possibility of insider dealing.

Not the case.

He is a non-exec chairman and so long as he is not privy to price sensitive information then he is allowed to buy. It is quite possible that he has not met with the BoD or had any price sensitive discussions with any of the BoD for weeks or even months, and has no knowledge of any likely upcoming RNS.

Also, as DoN says, a lot of info is already public, and happenings around that can be worked out by investors, such as Morocco trial timings etc. Many things he might be aware of, for example a potential deal with a refinery, he may know QFI are in talks and have been for some time, but he may not know if that refinery WILL sign a deal, or WHEN, so that is not inside info, as he has no way to know it WILL happen.

And just because he instantly reported his buy today, does not mean he won't buy more when he has spare cash.

Buy reported 09:03:34
RNS published 09:30

Fastest TR-1 ever?

DoN,

Some will do anything to create negative spin where there are no negatives.

His buy made the price move up slightly, so is to be seen as positive by the MM's.