Member Info for TechyRob

Thanks for the valuable input Barking. Trust you’ll be the first to congratulate the team once news of fuel development commences and MSC start burning MSAR?

I’m inclined to agree Indigo. Also, for Quadrise, Utah has never been the target or main prize. MK only even started properly acknowledging it a few months ago..

I’d love Utah to come off but for me it’s all about MSC right now. Let’s get fuel production started and the MSC fleet burning MSAR, I don’t care about anything else until then.

With the exception of Utah, for which QFI have no control over, there are no reported delays.

MSC trial definition due for completion before end Q2. Morocco industrial trial and phase 2 studies due end Q2. BioMSAR VTT testing & Glycerine production due End Q3.

Solid contribution, Hugh.

Equally as solid as your end Feb comment “6p? Have you been on the absinthe?”. You must be really thrilled with how the SP has performed these past few months. Glass of celebratory poodle juice to celebrate?

Dpsandison - the MSC Joint development agreement RNS released on the 21st jan stated “Initial activities under the JDA will include project initiation, definition, high-level scoping and feasibility activities ("Initial Activities") of the overall Trial. The Initial Activities are to be completed within 3 months”.

Re: the other timelines these were all stated in the investormeet presentation held on the 8th March.

Obviously it’s speculative but I think we’re looking at days / weeks not months Tuchman. MK clearly had something in mind to claim the MSC trial definition would be completed within 3 months and as we’ve just passed this point now I imagine we’ll hear something imminently. Not to mention we also have Utah samples, Morocco updates and BioMSAR updates due now. One of those at the very least will be showing itself imminently IMO.

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.”