Member Info for WongaFC

For me, this update confirms Cantone is working on behalf of Viston, helping them to get to the 90% tendered holy grail.

If PQE needs this extra cash raise, they could/should have approached Viston first. For them not to do this and Viston be comfortable with the placement deal, suggests Viston will be getting Cantone's shares at a discount to the 0.74c offer price.

Only my opinion though, who knows what's going on behind the scenes???

I've given up paying attention to any timelines, as they are obviously meaningless and outside QFI control. Last year, frustrated by the lack of progress, I decided I would give QFI the whole of this year to come up with the goods. Hopefully sometime this summer, we will have a worthwhile announcement on MSC, (I have given up on Morocco for some time), which will see the SP head north. I can then start reducing my holding accordingly. Until then, I patiently hold ever in hope...

It would appear PQE are seeking Viston approval of the share issue/fund raise. It will be interesting to see if they ok it, which will suggest to me Cantone is a Viston placeman??

If they are unhappy with the raise there are a number of actions they might take but for me, last resort would be to pull the deal altogether. They may adjust purchase price, (74-73c) and tender date when they have CFIUS approval.

For the doom-mongers, don't forget they wanted this technology when oil was $60/barrel and will have already spent a significant sum on regulatory, professional and legal fees. I'm still confidently holding until I hear definitive news of the deal being withdrawn. Selling now is only for the nervous, who should not invest in this type of stock to begin with??

Well they couldn't say "we give up!", that would be the end of the decade+ long gravy train!!

Groundhog day!

Typical QFI "jam tomorrow" statements. I guess we'll need to hold until 2024 at the earliest before we can expect a decent return on our investments. Lack of SP uplift on the back of this RNS says it all.

For me this sentence underlines the lethargy;

"Quadrise and Valkor have commenced preparatory steps under Phase 1 of the CDA to identify target consumers of MSAR® and bioMSAR™ fuel."

Commenced preparatory steps!!! What does that mean? Got the pencils and jotters on the table ready for a brainstorming session on who might buy our product? For goodness sake, surely by now they should know who the main local hfo consumers are and should have been banging on their doors for months. We're not even at the stage of having identified clients, let alone contacted them. When we eventually "agree" a potential client, then no doubt it will be "initial agreements", "initial trials", "secondary trials" etc etc etc.

All my hopes for Utah now rest on Steven Byle as I doubt I'd live long enough for QFI management to get to commercial revenues under their own steam.

Jam in 2024, maybe???

Once again the BoD fail to meet their self-imposed timeline and the drift back down begins.....

Without significant news of progress we will be back to 1.5p'ish by end May?

Might still be a "requirement" in Morocco though?????

I always thought the cruise ships might be the vessels for BioMSAR where perhaps more discerning customers are more likely to be environmentally aware. Could be a good USP for that side of the business??

Conversely, container ships could run on MSAR where the customers are simply looking to get goods from A to B as cheaply as possible...

Maybe Elon Musk getting involved?

Surely only a matter of time?

It's a strange one. Based on yesterday's prices it's hard do believe a sale of that size would have achieved 2.31p although conversely, I wouldn't have believed you could make such a big buy without paying "over the odds". Maybe it was a privately agreed sale facilitated by broker???

Gutsy plunge 46G. I hope it all works out for you.......and me obviously;-)

Found this bit interesting;

"Valkor and Quadrise are to negotiate supply agreement with potential customers, who have already been identified,"

I assume MSC is one of these "identified" customers.

The bid did go to 2.42 after close and I checked my HL valuation which listed the bid as 2.42p. However, I doubt very much a sale could have been made even allowing for the price monitoring extensions. Obviously settled back down to 2.01p as above but very strange movement.

We'll see what tomorrow brings.....

The -ve spread is obviously nonsense but I've watched the bid go to 2.18, fall back to 2.10 then 2.05 before settling at 2.00. Then the sudden jump to 2.42, which has me baffled. Unless a lot of chunky, (delayed reporting) buys show up tomorrow.

Not seeing anything negative in it and Petroteq rise could indicate the sale going through this week after all. Nothing guaranteed though

Bid jumps to 2.42, with negative spread????

Could see more upward pressure tomorrow methinks.

Probably those that have noticed are in the main already invested. Take a bit of time for the news to percolate through to the unaware. In the meantime, further positive news would be helpful and we have hopefully seen the end of sub 2p days???

Know what you mean AJ and if it were not for the backing of Valkor, I would see Tomco as pretty much dead in the water.

Still a fair way to go to secure the funding. Remember they couldn't raise the £2m for 10% without Valkor's help. There have been a few good developments since then which should help with finding investors. However, for me, finding the £18m to secure the other 90% of TSHII land leases should be the priority. In that position, they would be an obvious target for Viston (post purchase of PQE) and as I understand it, Valkor would not at that point have any stake in Tomco.

Who knows what discussions are taking part behind the scenes and Valkor could come up with the £18m for a bigger stake than the 29% if/when funding of the 5,000 bpd plant is achieved??

While my stake in Tomco is smaller then PQE which in turn is smaller then my QFI exposure, I have more confidence in Tomco success now than any other time in the last 2 years. Here's hoping...

Would like to see some upward movement in SP next week before the Viston takeover of PQE at the endo of the week. Once they own the CORT process, Tomco surely become an obvious target? A really positive RNS next week could see the SP move quickly up to nearer 1p, meaning Viston would need to offer 3-4p to tempt TOM holders to sell.

Of course it could all go the other way with no news and a further extension of the PQE buyout??

When Jason mentioned something "under wraps" I did think it might be a potential client from left field but in the same update he failed to mention Mexico and I assumed there was a development there potentially coming to fruition.

However, Pemex is very much a "Government" company, so while the case for MSAR use in Mexico is compelling, it will likely be a long way down the road. Maybe some other deal close to announcement, hence the confidence in the end April deadline. It would be nice to learn of a KSA or other back burner project coming to the fore, with all the other potential remaining on the table.

I have always been prepared to give QFI the remainder of 2022 to turn things around both commercially and with the SP.

Like a few others, I will be more relaxed about my over-commitment to QFI if the Viston buyout of PQE goes ahead in two weeks time. However, any profits made there will not be going into QFI as I have too many shares as it is, (more than the whole BoD combined!!!). I probably will top-up my Tomco position but plan to do that via my new ISA allowance before the PQE tender settlement date, as there could be some significant buying interest after, from PQE profits wanting to remain involved in the oil sands story.

GLA