Member Info for WongaFC

The lack of news/samples from Greenfield is a bit of a concern, however I guess they are fine-tuning their process to eradicate the clay content. From the link below, does anyone know if the "new stage 6" they refer to, actually a new part of the processing plant designed to do exactly that, (remove the clay) or has the stage 6 always been part of the operation?

Maybe try this link MacF1:

https://corporate-premiermiton.huguenots.co.uk/srp/lit/mLpdA1/Fund-manager-commentary_Premier-Miton-UK-Smaller-Companies-Fund_01-02-2021_UK-IP.pdf

Looks like it is the Premier Miton UK Smaller Co's Fund that's bought into QFI. The following is an excerpt from their latest factsheet comments;

"Whilst the fund did have a high
cash balance at the end of
February, there is no shortage
of promising new holdings.
Rather, we tend to await those
that have the potential to
generate abnormally large cash
paybacks in our view, when they
are standing on overlooked
valuations. At the end of
February, there were three
purchases scheduled for early
March - Virgin Wine, an IPO with
much higher asset turnover
than competitors and hence
scope to generate plentiful cash
as it grows, Serabi Mining, a gold
mining company in Brazil that is
raising additional capital to bring
a second mine into production
using unused equipment
purchased by the previous mine
owner, and Quadrise, a company
that uses surplus glycerine as a
fuel supplement to reduce the
carbon footprint of bunker oil
used in ship engines."

Please do not take this as a recommendation to invest in any of the 3 companies mentioned!

Does anyone know how far back MSC started exploring the opportunity for LNG use in its cruise ships and did they carry out the same diligence, (LONO trials etc) on this fuel? Might give us an indication of when we might expect a "Total" type supply agreement for MSAR for their Container Fleet...

Noted Tuckman, but people wanting shares at a 20% discount does not equate to wanting them at market price.

In other news, Tomco shares inching up and there is even more excitement than usual on the share chat page, re possible RNS in near future. Would be nice to see some positive Utah news but may well end up being nothing in it???

https://www.bbc.co.uk/news/av/world-middle-east-56153372

I missed the above article which may have already been posted here. Possibly another frankenstein fall out???

With around 260,000,000 new shares issued at 2.7p, IMO it's remarkable the price is holding up so well. There is bound to be a bit of profit taking on the back of the OO, which will also anchor the price in the short-term.

Let the dust settle and wait for some positive news on one, or all of our 3 main projects, patience is key.

Hi Colins, did you try the calculation I suggested?

My HL SIPP showed an open offer allocation of 107,400 shares at a cost of £2,899.80. Dividing the cost by the shares, you arrive at 0.03p However, if you x100, the cost of £289,980 divided by the same 107,400 equals £2.70. As I said, when you see the 0.03 price it is a two decimal place round up from 0.027.

Good spot Chequepal, I hadn't read it properly and your figure is more likely to be accurate. Good news for me too as I have applied for extra!!!

Doubt it Tellers.

My best guess is you would get a total of 2170. There was only around 8.5% shortfall in the take up. With a huge over-subscription. My guess is another 8.5% of the 2,000 Open Offer allocation, although might be slightly higher.

Colins "Just looked at my account and it states that my shares are 3p each. I have issued a complaint but has this happened to anybody else."

Sorry Colins I meant to reply to this earlier and apologies if it has already been addressed but it's likely to be a rounding up issue, where two decimal points are used. If you take the cost figure and multiply by 100, then divide by the shares allocated, it should show £2.70 per share.

Remains to be seen MexPete. If it is, the fund size is around £188m and the £3m or so invested in QFI will only be around 1.6% of the portfolio, hence it may not make the "top ten" in their holdings.

With the size of Premier Miton research and analysis teams, I am confident they are more than tyre-kickers and will have had a thorough look under the bonnet of QFI. I know less about the other named II, but am significantly reassured by PM's involvement!

Indeed Indigo, although there are some other funds we might fit, or even Investment Trusts. Good Company though!

I read this morning was on the best and worst performing investment funds over the last 12 months. The reason I post it here is, the best performing fund is listed as Premier Miton UK Smaller Companies with a return of 192.3% over the last 12 months, (70% above nearest rival). Now it may well be this is not the fund which has bought into QFI, however it suggests to me, they know a bargain when they see one????

"If history repeats itself, which happens a lot with QFI, seems to me to be nonsense to take the offer of buying shares at a "discount' rate of 2.7p.I am willing to bet any man on here that in a month or 2 the share price will be trading at below 2.7p, as normally happens with QFI the actual SP always drops below the offer price not long after! LOL"Skipper3, do you even realise what nonsense you have just written? If the above is truly reflective of your views, then, (as a non-believer) it makes perfect sense to buy at the offer price, as you could immediately sell them for a 20% instant profit. Conversely, if you believe in the QFI success potential, you could do the same as above and buy 20% more back when the "inevitable" drop comes in 2-3 months.I somehow think you're not very good at this money accumulation game?????

"Congratulations on those who applied for extra shares.. My question is what was the point in the sub 1/30 shares originally offered?
If the new value is 1/1 shares."

Da Prophet, the new value is not 1:1, the 1:30 was applied and around 91% of this was taken up. The remainder was hugely oversubscribed, hence the is a limit on the number of extra shares allocated to each over-subscriber.

I too, suspected I have been issued additional shares as requested, based on the figures in my HL accounts. However, on reflection, it is possible these "extra" shares have just been nominally credited and will still depend on overall take-up.

FWIW, I still believe the OO will be fully subscribed via the 1:30 offer and no additional shares will be allocated. Happy to be wrong however....

It would appear the OO may not have been fully taken up as according to my HL listings, I have been "allocated" around 29% extra shares, (applied for).

I am pleasantly surprised to see the share price holding up especially as there are about to be another 260 million issued at 2,70. Fully expected the SP to go down to nearer 3p or even below and had another £10k ready to commit should that have happened.

Very positive sign in my eyes and hopefully indicative of a northward move in the weeks/months to come??

I disagree for 3 reasons
1 The offer is very small i.e 1/30
2 The offer price is significantly below current price
3 Most importantly, the company is in much better financial position than it has been for a long time