Member Info for haggismchaggis1

CP,

I guess it depends if they have a meeting and if so, what ARA announce to AEX, and whether any of that info is price sensitive or if AEX just want to get the info out to shareholders.

If ARA tell AEX that the CH-1a location is moving then that is worthy of an RNS on its own, as it means a new pad needs to be constructed, and the well is no longer in the position advised in the 2022 AGM presentation.

If ARA tell AEX that the CH-1a target TCF size has changed due to better definition of the target with 3D, then that is worthy of an RNS on its own.

29 June 2022 half year report
"At the end of the period our cash balance was £48.6 million (2021: £61.3 million), compared to cash absorbed by operating and investing activities of £6.7 million (2021: £6.8 million). The cash absorbed is after receipt of deferred customer income of £2 million (2021: £0.4 million)."

Since then:
Some more staff recruited
Paid for the S Series and Power Tower hardware
Paid for the Ammonia Cracker hardware
Received Power Tower lease money

If they spent £6.7m in H1 then maybe spent £10m in H2 then they would still have £38.6m remaining, enough for at least two years.

His Patent looks to have been very useful in making the S Series so compact.

https://worldwide.espacenet.com/patent/search/family/074210067/publication/WO2021007678A1?q=pn%3DWO2021007678A1

We are all aware that in the past AEX have updated on Ruvuma at the start of the month, from what appears to be a monthl end meeting with ARA. As it's month end tomorrow, I'm thinking ARA meeting tomorrow or at the weekend, and RNS Ruvuma update on Monday.

"Finalising due diligence and completing paperwork."

In other words it's the lawyers dragging it out to make more money at their extortionate hourly rates. But now must be 99.99% there or they definitely wouldn't have got this loan, especially at a low 5% rate.

See Tomco's RNS today.

There's no way they would have got this convertible loan deal without significant proof that the deal is 99.99% going to go ahead and is virtually there. Just need to sign off on due diligence and sort the paperwork and the deal is done.

"as the Board seeks to finalise due diligence and documentation in respect of its preferred arrangements with a potential financing party for a funding package to enable the Company to execute on its previously stated development plans"

See Tomco's RNS today.

There's no way they would have got this convertible loan deal without significant proof that the deal is 99.99% going to go ahead and is virtually there. Just need to sign off on due diligence and sort the paperwork and the deal is done.

"as the Board seeks to finalise due diligence and documentation in respect of its preferred arrangements with a potential financing party for a funding package to enable the Company to execute on its previously stated development plans"

There's no way they would have got this convertible loan deal without significant proof that the deal is 99.99% going to go ahead and is virtually there. Just need to sign off on due diligence and sort the paperwork and the deal is done.

"as the Board seeks to finalise due diligence and documentation in respect of its preferred arrangements with a potential financing party for a funding package to enable the Company to execute on its previously stated development plans"

carpymick,

You can't rely on the automated reporting. I thought everyone knew that.

These are O trades, they could have been done much earlier and then reported later, or as Farquar says, worked orders, which are only reported once the orders are filled, and show the average price of all the trades that were accumulated to fill the order.

I'm sticking with buy, reported late to cover up they were buys, as the buyer is still accumulating. 2 x 500,000 yesterday, 2 x 1,500,000k today.

Director buying RNS tomorrow or Friday?

Hamster finally bought back in then?? LOL!!

"It seems that many investors here are still unhappy at the lack of sales, the level of director remuneration and the cash burn"

They are not investors, they are con men with an agenda to keep the price down for their own gain, they don't believe a word of what they post, and therefore neither should we.

All you take is the pi55.

I hope she isn't Dilian and Dalian on the way LOL!!

Curly,

I too am rather bemused with the UK Government. They really need to get their finger out or they will be left way behind EU and USA on green energy.

Luckily AFC is not really affected by them, as ABB sells systems globally, and in construction it is about replacing Diesel Gensets due to the high cost of Diesel and the commitment by builders to lower their own CO2 and other emissions. Government could subsidise AFC systems for sure, but with AFC already competitive and working on reducing costs plus lower costs for certain with mass manufacturing, AFC does not 'need' subsidies.

The 100kW S Series has already worked out ways to cut costs with these systems (Power Tower and S Series use the same stacks etc), so these methods just need to be applied to the Power Tower.

"With a strong focus on a reduced Total Cost of Ownership ("TCO"), AFC Energy has been working with state of the art manufacturing for low cost fuel cell technology. This first successful validation adopts a manufacturing philosophy considered as one of the pathways capable of delivering lowest cost fuel cell stacks."

Curly,

Financial projections are available, from the brokers. Often these are under advisory of the company and only available to 'sophisticated invesors' (ii's, HNW, UHNW) that are clients of the broker.

AFC can't do financial projections themselves, as they cannot give such forward looking information to the market, it would be seen as ramping the share price, they can only advise of actual sales figures after they have happened.

Also, financial projections can give away prices of systems, which they do not do either, as each client is a distinct project and there are differing costs between clients depending on what is involved in the project. One client could work out that their system is more expensive than a different client, then they would be asking AFC for a discount even though their project has more work involved in it than the other client.

Also, financial projections can give away prices to competitors, which AFC definitely do not want to do.

2 x 1,500,000 trades at 26.7p. Both at the same price so I take it they are not a rollover. Buys that big would be delayed an hour or more, so I think they are buys at that price.

AKHM,

A long string of positive RNS through Q2 is what we need, and a price that moves upward along with them.

Yes, he's being perfectly Frank there!

harry,

MSAR will go commercial, it has to because there is not enough feedstock to just go straight to bioMSAR let alone Net Zero bioMSAR.

MSAR will be the transition fuel for the next 5-10 years whilst production of bioMSAR and then Net Zero bioMSAR build up.

That is why Morocco and MSC are trialling MSAR.

AHKM,

"Why we don't just offer ultimatums to clients"

If you listen back to what the new Chairman said when he joined QED that is exactly what QED have done, and been assured that the clients will go ahead without any foreseeable delays. Not all delays are foreseeable.

The only 'new' delay is the start of the Morocco trial is it not? BUT the discussions on commercial contract were always planned for Q2 were they not? Hence why QED stated today "Quadrise expects to enter discussions to conclude a commercial fuel supply agreement in Q2 2023 as planned" so the delay starting the trial does not mean that the agreement will be delayed out of Q2.