Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Had communication from the company today, at least we won’t be waiting until the full year results in July…
“ If any of our key projects had been cancelled we’d have had to announce this via RNS.
Our planned update announcement is expected relatively soon, and well ahead of the financial results for the year.
Kind regards,
QFI IR”
Got pretty much the same email response last week
“ Now that sales quality oil has been produced at POSP we are expecting to receive samples at QRF for further testing imminently.”
Orlsega, this is very interesting as I have been researching the legitimacy of the PQE offeror, are you able to point me in the direction of where I can see some of the evidence for the legal SPA's?
Cheers
Ah great, good to know this is not an abnormal delay!
SP holding up very well considering the recent run, I have slight concern that the market is expecting a higher dividend (5p+) and anything lower will disappoint and result in a pullback. Still a decent yield at 3-4p however, do they pay out a final and interim dividend here? the dividend history on Stockopedia is a bit confusing!
Just bought in on Monday and already loving this share (increased holding on both Tue & Wed also!) seems there’s a lot of optimism towards an increased dividend, excited to see the final results!
All the best.
Definitely heating up here the last few days, just need the MSC trial roadmap announcement to keep the momentum going.
Sticking with 20p target for year end provided all trials progress as planned. So plenty upside in the medium term.
50p+ by the end of 2022.
ATB Longs, happy days ahead.
*bpd
From memory, when I last spoke with Tomco I was quoted 12-18 months for the 10000kpd facility, which consisted of two 5000kpd lines on the same site. No reason why other sites couldn't be built on the same timeline but I expect the initial site will be used as a full scale proof of concept with multiple sites to follow. Best case the first facility commissioned by summer '22 imho.
Thanks for this!
Found Steppe through a dividend screen on Stockopedia over the weekend, this podcast helped my decision to pull the trigger this morning.
Excited to see what their results this week hopefully including an increased dividend. Though this has a great yield already as it is!
Cheers
Don't be ridiculous, are Valkor and Petroteq scams too then?
It's a test facility, the first of its kind, they're trying to perfect a process and raise hundreds of millions of dollars financing to build multiple full scale plants and unlock billions of barrels worth of oil sands across the US. All parties involved need to make sure the plant is robustly designed. The prize is huge, investors need to keep their eyes on that.
I understand the feelings of those who have been here for years and watched the share price decline and suffered through progressively lower fundraises. If you've held through all that then why not give the company another couple of months to finally prove the process and prove that you made the right decision to invest in the first place.
DIamond hands and all that.
ATB
Thanks for this info Rewhbe,
Can you direct me to the video you have mentioned which highlights the clay issue, I've watched the most recent proactive video from Tomco and there is no mention of this, they seem to be optimising the plant towards 500bpd as planned and mention various process improvements which may relate to your proposed issue but nothing specific around clay, is this just a theory?
I assumed that the current delay is in relation to completing the third-party verification of the FEED study to ensure it is suitable to obtain financing for the first full scale plant.
Cheers
Hi Gaf,
You may well get your buy in at 2.5p, but it's equally likely that you won't.
Yes the fundraising is dilutive, but it's also a show of support from "significant new institutional investors" and it's funding aimed at taking the company to revenues, where there was bankruptcy risk before there is now confidence that Quadrise succeed in executing their plan.
Plenty of IPO's don't drop loads, in fact the current trend seems to be 100%+ gain on IPO price on day 1.
As a comparison, AFC Energy (pre-revenue, small-cap AIM company) raised via a placing and a smaller open offer to shareholders last summer at 16p (which was much more of a discount at circa 25%), a few weeks later the price was 23p, it then dropped back to a low of 17p but never to 16p or below again. Within 6 months the SP was 80p+. Since dropped bac from there but my point is that we may never see prices below 2.7p again, its a gamble waiting for lower prices, and for me not worth the risk when a decent announcement could cause a significant re-rating here.
Also in Pertroteq and Tomco now, so yes, fingers crossed things pay off over there!
Back to QFI, we've already had some great news this year imho with the MSC partnership being announced and even without anything further (Morocco, Utah, Saudi?) all that needs to happen is for this to progress as planned and the SP will be multiples of where we are now by the this time next year. And long term holders will thoroughly deserve the gains.
Excited to hear progress from the company on Monday, get your questions in folks.
ATB
If indeed Valkor is transferring the work order to Greenfield and they continue to operate the plant going forward does this result in the share of revenues from the POSP flowing to Tomco?
What maximum capacity does the POSP have? I understand they're aiming for 500 bpd currently.
FEED study will be released Q1 as per Annual Report following third-party verification - so only a few weeks wait.
Buying pressure will only be back once this is out imho, and an indication given of when financing can be obtained and on what terms.
This makes sense Salinger, my comments were based on following the chat on the Tomco board, an email from the Tomco CEO about a month ago stated:
“This is John's email to me on 2/2/2021.
'we have always said the samples will be sent once the plant is optimised. We said in the interview last week, this is still being worked through but should be completed in the next week or so. However, we are not rushing the process just to get the samples to QFI.“
So definitely shouldn’t be long now!
Greenfield still focused on production ramp-up and FEED report completion (due Q1) and likely don't need further distractions currently, should be sent later this month, I expect, once they have reached target production at the POSP.
Frustrating, but won't really make a difference in the long run.
Really great news.
Fully subscribed placing, new II's on board, this will set a solid floor at 2.7, and will encourage new investors who were concerned around the cash runway to buy in. Was starting to be concerned that we may drift back down to 2p but it really is onwards and upwards now imho.
Personally planning to request maximum allowance through the open offer as I don't se us dropping back now. might sell these extras when we get to the "Quad-rise" point (thanks colins), but wont be touching my core holding for years I suspect as this could truly be a life changer if they manage to pull off even half of what I expect they will.
ATB Longs, very good year ahead for us all (finally).