The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
It's going gangbusters again this morning. Almost doubled my money in three months. What's going on?
All
Maersk are specifically mentioned twice in Mike Kirk's report. I take this as a positive sign. Game may be back on!
Indigo22
I sincerely hope you are right, and for the record I have applied for more shares in the OO, however why are you "relaxed but confident"? I'm nervous and fearful of yet more delays, slippage and unforeseen issues e. g. buoygate. etc.
2 x 250k buys just before CoB. Someone in the know?
ColinH
Methinks you overestimate B4lade as in his earlier post he said he was an" ex refinery process operator" not an ex process refinery engineer". World of a difference!
manu19
Yes, agree.
The positive I am clinging to is that all these recent MOU partners must be convinced of the viability else why sign up. Hoping for some positive news this afternoon.
Fyoz
"which they wouldn't be doing if cash flow was going to be an issue". Well that's not my reading of the situation, in fact I believe the opposite!
Much stronger on Buy side Depth is 96 vs 68. So on that basis should hold/go up okay
FOXM
Thanks for pointing me in the right direction for this info. Sorry to say it reads to me as a negative i.e. if Mike Kirk was confident he could have continued with half pay until a contract announced, or trying to be positive could it be clearing the decks before a possible bid from someone - Freepoint anyone? . Six months or so to go before the lights are turned out. "Squeeky bum" time now.
FOXM
Where did you see this announcement about Mike Kirk and others deferred salaries are to be repaid? I'd not seen it.
Slick
Much as I support QFI and am already holding far too many shares for my wealth the water in MSAR is not burnt - water has no calorific value. MSAR is an emulsion of heavy oil (tar), water and Akzo chemicals and more MSAR (by volume) is required compared to the equivalent HFO.
Dust
In your notes of the AGM towards the end you state "Confirmed that for MAN only 2S has been approved at present". and also state "Excellent relationship with MAN and Wartsila. Claimed they will generally have no problem with customers using MSAR and are very supportive. To paraphrase, customers can get on the phone to the engine companies and get a positive response".
Can you please expand on this as I was not aware that MAN had "approved" MSAR for use in their 2 stroke units. To be clear are MAN indicating that the POC and partial LONO test (buoygate) undertaken by Maersk is sufficient and that no further testing is required. Are Wartsila also in agreement that no further testing is required? So will they both issue LONO's?
I do hope you can confirm all the above.
Dustofnations
Excellent piece of work that must have taken many hours to pull together. Well done, much appreciated.
From what I recall - and please correct me if I'm wrong but QFI have something like £70M in accumulated tax losses and so any prospective buyer will not wait till the company goes bust (and lose the benefit of the tax losses) but will want to buy it before this point is reached.
seeingtom If the refining partner is in country and part owned by Saudi that is a bigger commitment than purchasing from a 3rd party (Cepsa) who is outside. "Tens of millions of dollar" was in my view a bit of a throw-away comment and could as you say have been in tangible assets (i e MMU's,piping etc) or could be intangibles i.e. design, planning, project feasability, scoping etc. Tangibles clearly showing much more commitment by SA.
MK & JM would not confirm identity or location of the refinery however it did appear reading between the lines that it is CEPSA. Cash burn is �225K pcm and as at 31/12/17 they had �3.5M so 9+ months they will need a cash injection. If trial goes ahead QFI will receive revenue from oil company. QFI maintain they do not know what the issue is between the oil and electricity companies but it is not technical. QFI continue to lobby and visit SA in effort to resolve the matter. Seemed to be a slight softening and a bit of hope re timescales announced. Like BarkingCrazy I won't be buying or selling. It's on a knife edge, but overall I'm still hopeful as brinkmanship is involved with the counterparties and the prize for SA is a likely saving of approx. $5 billion over 10 years with MSAR
I admit it I'm confused by reading so much claim and counter claim on here and over on ADVFN. My question is where is the refinery that is/was to supply the MSAR for this trial in KSA? Is it in KSA and being shipped up the coast to the power station as we were led to believe or is/has it to be fast tracked from the CEPSA. Views please.
hughjampton Have just read all about the job over on ADVFN so ignore my request. A replacement secretary @�25K pa hardly seems likely to have caused any firming of SP.
hughjampton What's this about a job advert? For what? Where? Can you post a copy?
Noosking For what it's worth I agree and am in a very similar position and thought process to you, only difference I have is that for me end of March is a line in the sand. QFI will almost certainly run out of cash by year end without funding which I consider they are unlikely to get from either shareholders or bond issue.