RE: Rns26 Nov 2021 09:43
""During November 2021, the equipment for the MSAR® combustion trial at the client site ('Site B') was shipped to a third-party site in Morocco, and preparations to commence production of 60mt of MSAR® fuel were completed. "
*During November 2021*
With respect, this was the progress in the last 2 weeks. Physical preparatory steps within Morocco."
I'm sorry Mike, (err Indigo). It is over 12 months down the line with a client we were told is very keen to progress to Industrial and Commercial trials and what have we achieved in this 13 months?
We've sent some equipment to somewhere in Morocco, not even the client's site for goodness sake. AND the fuel has not been produced, rather preparations to commence production are complete. WTF!! Absolutely shocking performance. If it is the client causing the delays then say so but don't blame a year+ delay on Covid. We're not total idiots, although continuing to put faith in this company might indicate otherwise.
MSC, another Maersk, only slower and I now doubt very much if trials will ever start. I'm afraid we are simply another convenient paragraph, in their greenwashing reports as to how they are progressing their ESG credentials.
As far as I see it, an almost completely wasted year. Still full salaries being paid and the cash cow milked. I remember suggesting at the AGM two years ago, the Directors take a significant salary deferral until commercial revenues can justify their obscene "rewards for failure". Maybe that would have encouraged them to get their fingers out rather than sitting with their feet up at home, sending the odd email here and there. I am annoyed at myself for being so easily hoodwinked into the potential of this company. The relatively minuscule shareholdings of those closest to the action should have told me they don't believe in it themselves, despite their 9 out of 10 rhetoric.
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