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Also why would you ‘hold’ if you expect the SP to lose 20% of its value...? There really are some shady sorts about on the boards aren’t there.
Let’s remember that the latest Bergen conversion represents a dilution of ~1.2%, yet the market appears to be severely overreacting. Yes Bergen are going to want to get rid of these shares as they aren’t and never have been investors, but once they’re gone what stops the same momentum and fundamentals being realised like we were just starting to see?
Personally i’m viewing this as an opportunity rather than a hinderance.
Bergen only have 16m shares, they’ll be out in no time at these prices. When the news flow comes on trials progress, potentially as soon as next next week, this might be looked back on as a bit of a gift.
To my knowledge Morocco has only one refinery and it is shut down. I think Kurly was suggesting there is activity there which it’s potential re-starting might be in some way linked to the OCP trial. I suggest this is unlikely.
HF - hard to say it’s an awful deal when we don’t know what else was on the table. All we know is we couldn’t even get close to fully subscribing an open offer at the time - look at us now, about 2/3 times oversubscribed weren’t we on the last OO?
Bergen were a means to an end, and we got through our darkest our IMO with relatively little dilution.
Onwards and upwards. Fully funded, no outstanding debt and a plethora of imminently upcoming news and opportunities. Good luck all!
MexPete - remember also Utah are reported to be investigating the low sulphur marine fuel market as a target customer for their product (which is in effect low sulphur MSAR). This opens up all the vessels running on HFO without scrubbers also should this avenue prove successful for us.
Not to be pedantic but in the call JM actually said 9/10 and MK said 9.5/10... certainly feeling confident that’s for sure.
It’s been a long time coming Indigo, congrats. Enjoy that warm fuzzy meaningless feeling. It’s spectacular.
You would have thought also after 1000 or so shipping hours that MSC will have a good idea whether this is a contender for their future fuel mix too. If they’re serious about using MSAR I’d expect early noise about commercial scale production options.
Considering all our developments due by H1 I find it hard to believe we won’t receive some updates next week as the first month of Q2 comes to a close.
Plenty of LinkedIn activity from Quadrise too from their joining of the UK Chamber of Shipping yesterday to their publicly referring again their shipping trail with MSC 3 days ago. It seems everything’s going to plan as they wouldn’t be shouting about it still otherwise, plus we have the developments in BioMSAR, Utah and Morocco to be updated on. Plenty to chew over so an update would be very welcomed next week!
I’ve just sold down a chunk of shares with the intention of buying them back at the end of the week within my ISA allowance.
The good news for you lot is that Sod’s law says we’ll now get a cracking update tomorrow or Friday morning and my transfer will end up being painfully expensive.
Depends how much you’re buying as to the prices you’re offered, that’s why it’s indicative. For example just now I could sell my entire holding for about 3.5p (which is good news as they usually won’t price for that!), but if I sold only £1k’s worth then yes the spread is tighter and the price is about 4p.
The trials and tribulations of dealing with non-liquid AIM shares!
Really interesting point and I agree - it’s a lot easier to hold on the way down than on the way up.
That’s why for me personally I’m targeting a sell point not at a particular SP but at a stage in the companies growth cycle - as that’s the only way I can be semi-objective about it. I’m planning to hold for about 1 year following commercialisation (should we get there of course!) as that’s my stab in the dark for when would be the best time to realise any gains. Of course that can change to be shorter or later depending on how things play out, but for now that’s my strategy.
No news on the restart but I expect it is all underway. In Tomco’s RNS on 1st April they said the FEED is 6 weeks away from completion ie 13th May 2021. The production data from the POSP is key for the FEED (as they want the best quality product to form a business case for the 10k BPD plant they want to build off the back of this study).
From my reading of the RNS’ Tomco seem to have everything in hand and were confident of having the POSP up to scratch “shortly after Easter”. So I imagine minor tweaks and processing refinement has taken place these last couple of weeks. All being well they should now (hopefully) be in a position to use optimised data from their POSP production to inform their FEED which is due in under a month, whilst simultaneously producing optimised samples that can be sent to us here at QFI. So we could hear anything at any time I reckon.
Taken from Tomco RNS on 1st April;
“The additional equipment required to address the aforementioned issues, is now on site and being installed with completion expected shortly after Easter. Greenfield believes that this will then enable the POSP to produce at higher rates of production than achieved to date, particularly during periods of cold weather, and that the oil produced by the POSP will be of a higher overall quality”
“In light of these requisite enhancements to the POSP and the subsequent input of the resulting operational data into the FEED study, it is now anticipated that the FEED will take approximately a further six weeks to be completed.”
Fitzy, it will be some point hopefully within the next couple of weeks hopefully. I’d expect QFI would alert us to the arrivals of the samples as they alerted us to the delay in receiving them.
As per QFI RNS on 1st April;
“ It is expected that the enhanced POSP will restart after Easter, and that oil samples extracted from ore of the Potential Site will then be taken, assayed, and then shipped in April to the UK, to enable the Company to complete the necessary lab and pilot testing at the Quadrise Research Facility ("QRF") as planned. As previously noted, we anticipate being able to complete the MSAR® tests at QRF within three weeks of samples being received.”
Strong addition to the TomCo team. Bodes well.
Indigo - agree entirely. If you’re not investing off the back of your own independently verified research you’re playing a dangerous game.
The way you build up the following he has is by building his reputation also. Obviously he doesn’t announce before he buys or sells - that would be ridiculous. However he is a respected investor by many in the micro-cap community and he currently claims to own over 1% equity in QFI, and there’s no reason to doubt those claims. He often produces short research notes which justify his stock selections. Everyone is well within their rights to ignore him but we all believe the QFI is a brilliant long term hold - why else would we be here? - so IMO it’s great to see other players much bigger than I publicly stating they are also excited by QFI and are treating it as a long term hold.
Yeah because there’s not much news due before the end of June (less than 10 weeks away..), well I suppose with the exception of the following;
- Morocco Site B Int Trial & phase 2 study results
- Utah QRT Report - (samples pending)
- MSC Trial Definitions Initiation Scoping & feasibility Results
- Biofuel VTT medium speed Test Results
- MSC Trial preparation fuel production started for the MSAR supply (alongside info re: who is producing this for us which will be v exciting & interesting. We will need news shortly on this if we are to produce enough fuel for a H2 trial start date)
- Utah Commercial Demo, Mobilize oil equipment team & POSP
Coincidences seldom exist in this game... let’s see.