Member Info for WongaFC

In the development stages, Bill Gates probably had everything bar his shirt invested in Microsoft. Once successfully generating revenue with the share price many many times what you paid for it, then yes there is a case for disinvestment and spreading investment.

If I worked for a company, earning the thick end of £300k, was 90% sure of its success and the share price was only 3p, I'd be taking a very large stake, within legal parameters.

Mike Kirk is in his 60s, were QFI to fold I'm sure he will remain a very wealthy individual with no financial worries and retirement an eminently affordable option. His "career" is no risk....

"it's madness to have both your career and your investments in the same place."

Even when your 95% sure of it's success?? and have effective control of operations. Seems to me like the ideal investment scenario, avoiding insider dealing issues obviously.

The license agreement was for Greenfield to operate it, almost in a sub contractor basis. Petroteq may well have their own license agreement for this site, with a longer window of time??

Hmmmm? That's the kind of thing Mike Kirk would say;-)

"Not from the new 5000 bpd facility, but the existing POSP plant at Asphalt Ridge should (?) be producing MSAR much sooner than that, which will kickstart royalty payments"

And profits for Petroteq which is maybe why CEO Aleksandr Blyumkin ploughed another £130k of his own money into PQE shares last week????

What a novel idea, senior executives actually investing meaningful sums and taking a significant holding in the company they're running. It'll never catch on...

The "included" transport costs were for the Ore, not the Oil.

Could be that sand becomes a much more valuable commodity in future though???

https://www.bbc.com/future/article/20191108-why-the-world-is-running-out-of-sand

The Petroteq story seems to be gaining some traction and the Uppgard legal approach suggests the "unknown" bidder is genuine. Hopefully the legals can decide on an agreeable price, say $1 CAN per share. Although this is around 6x current price, the share was $1.50 CAN a mere three years ago, when the company was much farther from commercial success.

As a holder of PQE it would be nice to see and QFI's success would be a much less part of my financial well-being, even though success for PQE could be very good news for QFI in the long run.

Here's hoping.....

Any views on the significance of the timing of today's RNS? or is it just business as usual?

PharaohRocher,

I believe your 2 x $10/bl add ons might be too high and there is 1.5 tons of sand produced per barrel of oil. The sand should sell for $10-20, say $15/ton or $22 per barrel, hence the profit margin is much better. Add to the mix the MSAR option, which reduces some of the transport cost as it would cut out refinery stage and you are left with an even more compelling case.

I'm sure Tomco/Valkor/Petroteq will be aware of the potential benefits of using MSAR but are possibly resorting to some poker tactics by insinuating they have a good business model without MSAR, in order to strengthen their negotiating position prior to agreeing MSAR adoption.

I see we got a "naughty step" mention in the latest Premier Miton Fund Manager commentary, although to be fair they seem to remain positive for QFI. My curiosity regarding their contentment led me to believe they have possibly been on the dog to old MK.

Excerpt from the commentary;

"During June, as investors looked through the current inflationary rise, long-dated bond yields have declined. Meanwhile, some of the inflation related share prices have peaked, including many of the Materials, Industrials, and Energy stocks. Hence, the slight pull back of -1.6% in the share price of the Premier Miton UK Smaller Companies Fund during June isn’t related to disappointing trading results.
Rather, it is related to stocks such as Avacta, Quadrise Fuels and Pan-African Resources, where their share prices have declined by around 25% during June despite our view that all three remain very well placed to generate substantial surplus cash in the coming year or two. All of these have already delivered very substantial capital appreciation, and hence given the market cross-currents, were easy pickings for those looking to take profits at a time of more uncertain market trends. In comparison to the fall of -1.6% from the fund, the IA UK Smaller Companies sector returned 0.5% over the month and the FTSE AIM All-Share Index returned -0.5%."

Short-term sector under-performance will not overly bother them, although they will not be happy if things don't improve in the medium term.

I wish we'd never heard of BioMSAR. For me this has just been a distraction and should have been kept under wraps until we were commercially supplying MSAR. Not only has it muddied the waters but it may have distracted our top people from "closing a deal". They're scientists/engineers of course, not salesmen hence they will be more comfortable in a lab than a client's boardroom.

Given the limited supply of glycerin, it is too early to be promoting BioMSAR, as it's impossible to guarantee being able to supply it on a large scale commercial basis.

Happy to be proved wrong though.....

Just an observation but it would appear there is a lot of selling demand compared to buys so hardly surprising the SP is edging ever lower. I'm guessing the majority of sales are from relative newcomers who bought in on the last wave of euphoria and recommendations from Myles Whatshisface and the like. As all LTHs know it can turn very quickly...

The Petroteq news would suggest the proposed "hostile" bid is genuine. Let's hope it's a big player (Shell???) involved and the technology adoption can be driven forward at pace and scale. No doubt we'll soon find out ....

I wonder if MK has received any irate phone calls from our IIs as the SP continues to tank. It's fine for them to ignore us plebs pleas for further information or updates but these guys will be wanting to know wtf is going on!!!!

Know what you mean AKHM. Quadrise has never really been a share to just buy and hold, I have traded a fair bit myself over the last few years but more of a hedge than a profit taking exercise and any profits made have been re-invested to build my holding. Apart from my latest sale, the proceeds of which I used to take a position in Tomco and Petroteq.

If you've built up 1 million shares and see the price falling, selling 250,000 can be a good strategy. If the price goes up further you can console yourself that you still have 750,000 at a rising price, along with cash in reserve. if it drops further you can rebuy with the cash increasing your holding to over 1 million. Judging when to buy and sell is not easy and I must admit I have had a fair bit of luck/success in doing so.

This year has been different however, during the positive upward movement, I held and added but didn't sell on the way back down, assuming things were moving on well behind the scenes and the next positive news story would see a bigger jump up. Well it's certainly not paid off this time and I'm left holding too many shares which are tanking in price. That's why I said I would happily sell say 25% or maybe more at 10p. If it went higher, great, if the opposite, great move.

It's all a bit of a gamble.....

"Nouryon might have something to say about your buyout scenario! Just saying!"

QFI have an agreement with Nouryon, if Shell bought QFI the agreement would still be in place, just with QFI as a subsidiary of Shell. Just while on Nouryon, I thought I read the agreement is until mid 2022?? I expect it would be extended or a new agreement put in place but there are no guarantees!!!

Tuckman, cash may not be an issue for you but it has been many times for Quadrise as the worn thin begging bowl will testify.

Go back to the RNS on 2nd FEBRUARY!!!! and read the rhetoric there....

Beggars belief that we are now nearing the end of July and basically zero progress since. There seems to be scant sign of urgency or forward planning from the BoD but there again, what's the rush when you're receiving a huge salary anyway???

I really think a buy out is our best hope now as our leaders seem to be either lethargic, or unable to make the forward strides required. Personally I hope Shell are working away in the background with a view to hoovering up all the parties involved, Petroteq, Valkor, Tomco and QFI, giving them all the components required to produce a low sulphur fuel oil with minimal carbon emissions. Just a pipe (line) dream.....

"I can wait a couple of years for substantial gains"

The cash will run out before then!!!

"Continued commitment to decarbonisation: Remain on track to meet, or likely exceed, the target for 40% improvement in emissions intensity by 2030 compared to 2008 as part of our journey to achieve net carbon neutral operations by 2050."

And, of course net carbon neutral in no way means they will not continue using oil...

"Most shareholders know the potential value and I doubt would sell for anything less than 20-30p"

I beg to differ, if 10p was offered, I'd happily part company with a sizeable proportion of my holding.