Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.
Many IIs are currently having to sell because their punters are trying to exit their funds. That's just the nature of the business and not necessarily reflective of the underlying individual companies -- although it can put downward pressure on the SP whilst that happens.
Either way, we're in a negative sentiment market, so we all need to factor that into the situation. It may be that the SP does not reflect the opportunity for a while.
Best to just follow the news and figure out the value we can derive from it. If things continue to progress well then at some point that commercial activity should be reflected via SP, dividends, takeover, or whatever.
Regrettably more patience is required; something QFI ULTHs have acquired great skills in over the last decade or so...
Literally buying the vessel that the MSAR trials had previously been done on shows that MSC is taking this project incredibly seriously and are investing serious money and resources into it. It's actually quite incredible.
They've stated previously that LONO will have to start from zero as one of the key parameters they are trying to measure is any excess wear of cylinder rings, cylinder liners, etc. Those are parts that are regularly replaced by the maintenance teams, so you need to do the trial in a single block to get meaningful data.
Please check out the picture showing the dates of transfer I found via the IMO website earlier this morning.
Wonderful news!
https://twitter.com/quorumzine/status/1552191195165630465
Okay, I'm going to be that pedant (sorry!). It's 'Miton', not 'Milton' (a sterilising fluid for babies).
Not to speak in Maersk's defence, but I suspect the specification of the vessel was Zodiac's decision, and they are taking what they can get from the chartering market, as it's under huge demand at the moment owing to the shipping capacity shortage.
There's no way for us to know whether Maersk will use only ULSFO on these vessels (to stick to their word), or whether they'll use HSFO despite their objections; I'm sure we know what they'll do when it comes to that level of zero-effort savings!
Thanks everyone, it's greatly appreciated. The main author of the report was @Burble61, so main thanks go to him on this occasion, but the exercise as a whole was a team effort.
As for Quorum, I've been writing that since 2018 now... I never expected it would be 2022 and we would still be awaiting our first commercial action. Then again, I would never have predicted a global pandemic and a war in Ukraine, either.
I do really hope we're heading towards the "end of the beginning", where we can start thinking more concretely about commercial aspects of the business, rather than just hoping we can get trials rolling.
Firstly, thanks to everyone for your thoughts. Glad to have overwhelmingly positive feedback -- it's greatly appreciated, as we've obviously got to take time off work, and pay to travel from all over the country & beyond to visit. A few made acidic and unkind comments, but that's just one of those things with large communities.
From my perspective:
- Morocco looks very strong, they're now with "The A Team" at the client who are keen to get it done. This is my favourite to get over the line first in any meaningful way. It's modular, so can be rolled out one piece of equipment at a time in a way that is low-risk to the client. If you consider that they have a fleet of rotary calcinators, this recipe can be multiplied out N times for however many they have (lots, if you do some digging).
As others have commented, I hope they are able to execute expeditiously, as there is still the spectre of Covid, negative market conditions, war, etc.
But the economics are utterly compelling for these kinds of companies, and they don't have an easy option to change to any other fuel for these kinds of plants -- especially the remote ones.
- The team believe MSC is still on schedule in terms of the LONO trial initiation, but there's an alteration to the plans that 'will become clear soon'. Intriguing, and reassuring that we're generally still on track. Not sure what said alteration is, but hopefully it's a positive one! It's clear the various layers of bureaucracy are taking a while to chew through things and give their tuppence. Still huge for the company if and when it comes through.
- Utah - still not 100% clear what the plan for MSAR is, but the assay data is arriving and I guess that should prompt decision-making sooner rather than later. Seems they need to firm up their plans a tad. Still very promising, but some key moments coming in next few months, by the looks of it.
- Panama/Honduras - still early days, but if/when they get a trial, this should move fairly quickly. Always feel there's a bit of an unknown factor with customers in those regions. But the fact they are IPPs (independent power producers) makes me think it's more likely to happen than with a parastatal organisation.
- Mexico, etc - need a breakthrough on political level. I put this into "future" category. I'm sure it will become more plausible once MSC and/or Morocco pop.
So, I think there are some key weeks and months coming up now; with the financial market conditions being scary there's plenty of risk that needs to be considered. But, I think QFI have a much better chance to access advantageous/conventional finance if they can execute MSC and Morocco commercial deals within the existing funding envelope.
I got the sense they were very keenly aware at how much they have overrun guidance and that it's not a good look. However, it seemed that some of the deadlines had allowed application of appropriate urgency to counterparties to 'make a decision' (insert vulg
Hi everyone,
I've reformatted the content of the report into the usual Quorum format; you can access and share the report below -- "MOD-BoD 2: Putting the queries and concerns of the retail shareholder community to the QFI leadership team":
https://quorumzine.gitlab.io/quorum/content/2022/07/21/renewed-retail-investor-discussions-with-qfi-team.html
Particular thanks to @burble61 who was the main author of the report.
Vince, it also looks like an account with fake/purchased followers as they are completely incongruent with the supposed topic (most not even in UK by the looks of it). I agree with you that it's a weak pump/ramp attempt.
Many of these kinds of troll and pump/dump account purchase followers in order to appear more popular than they really are and cause the Twitter algorithm to give them greater prominence.
Re: Morocco, we know the trial needs to be executed first before entering the commercial negotiation phase is initialised. Therefore, it is surely impossible for what this account says to be true, as the preceding step hasn't finished yet...
... the kinds of questions people have been *asking*. Sorry, it's getting late!
Furrylugs -- the order and contents of the précis on the QFI Shareholders' Forum is *not* the same as the 'précis of the précis' that DevonianExile has written here.
What you are assuming about Morocco is wrong in just about every aspect. Please check out the original, and/or wait for the full report.
As semaphorRed has pointed out, this will not be material info -- just colour, reemphasis, clarification of existing points, dispelling of various theories/assumptions, etc.
Basically, we're spending our own money and time to travel across the country to give retail investors the same kind of access and Q&A enjoyed by institutional investors. We're genuinely trying to do this for the benefit of everyone, and we scour the forums for the kinds of questions that people have been answering (as you will likely already have seen reflected in the précis, and more so in the full report) .
Please give us a chance to finish putting together the report before you reach conclusions. Your patience is really appreciated as we have real-world stuff to get on with at the same time.
Hi, AKHM. I'm not sure, but the website seems to indicate it's an "in-person forum only" and it appears there are no recordings. Each slot is only 20 mins, by the looks of it.
Hi. I think you might be a bit confused in your comments with respect to Morocco, colinH100.
There was a very recent announcement that our local agent in Morocco, Mr Maamar has the ball rolling again, and the project is back on track for trials to begin shortly, with subsequent commercial negotiations. He seems very well connected and was the former CEO of the national electricity and water company.
He is our local sales and client engagement representative, but operates on royalty + warrant basis.
https://www.linkedin.com/posts/quadrise-international-ltd_3rd-decarbonizing-shipping-forum-activity-6944584388575678465-mk1V?utm_source=linkedin_share&utm_medium=member_desktop_web
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Our CEO Jason Miles will be speaking at the 3rd Decarbonising Shipping Forum in Hamburg this week, discussing how Shipping can accelerate its transition to net-zero by adopting lower carbon solutions such as Quadrise’s MSAR and bioMSAR.
[...]
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Thanks for writing up your thoughts, DevonianExile. I hadn't realised that MSC Shipmanagement Cyprus offered services to third parties; that could be a very useful tool for future expansion.
I'd like to run with one theme brought up in your post, ("QFI offers just one of a variety of possible outcomes for transition fuels at MSC").
One of bioMSAR/MSAR's key abilities is that it can carry multiple different types of feedstock, whilst producing an output of the same quality. In my view, this makes it a different proposition to many competing offers, which are often tied to a small subset of all available feedstocks (which increases operational and logistical complexity enormously).
This could make bioMSAR an ideal 'carrier' platform for many different fuel types. They just need to support MSAR and they can effectively unlock a huge range of fuels and the associated unified supply chain. For example our pipeline of feedstocks under validation: glycerol, lignins, pyrolysis oils, methanol, ethanol, etc.
So, you don't need lots of duplication of skills, infrastructure, segmentation of your fleet's engines.
You can't normally mix together most of these fuels. So you would need separate storage for each one; this is just awful from a cost and logistics perspective. Instead, MSC could just let Quadrise and their bioMSAR technology hide all the differences; everyone just deals with MSAR.
As an analogy: if you turn on your gas cooker, you can't tell whether it was produced via fossil fuel extraction, biodigestion, hydrogen blend, etc. Everything comes down the same pipeline, and is 'fungible' for the purposes of utilising it as domestic gas. At a molecular level, there *is* a difference, but for the application it's designed for it is absolutely indistinguishable. It's the job of the operators to ensure the blends meet the specification required. We don't have 3 different gas pipelines and 3 different boilers for different types of gas.
That's like Quadrise with bioMSAR. They come up with ways of integrating new low-carbon fuel sources into bioMSAR, and producing a fuel that meets the specification (i.e. it "just works"). This unlocks a wider variety of feedstocks that otherwise might be unavailable, and massively reduces operational and logistical complexity.
Of course, this is AIM and the real world. Success is never guaranteed, and even brilliant solutions sometimes fail to achieve what they deserve for reasons unrelated to how good they are. Risk abounds, but I look forward very much to hearing the next steps for the MSC trials.
And I have more faith in MSC than Maersk, certainly.
When you read this content, you can see we're definitely hitting the ball in the right direction, given this blended biofuel approach.
bioMSAR fits a 'tuneable carbon reduction' strategy very well -- whereby MSC's customers can pay to offset their carbon; this translates into MSC ordering a specific bioMSAR blend based upon the paid-for carbon reduction (something I talked about in one of my previous waffles). It seems they are already doing this with traditional biofuels, so it should translate over to bioMSAR very well.
QFI could use the bioMSAR platform to bring in a bunch of additional biofuels and green fuels (i.e. gylcerine, lignins, green methanol, green ethanol, FAME, etc -- many of these still need validating, but it looks very promising).
I think/hope we're onto something.
It's still very early days and very risky, but I strategies of QFI and MSC seem well-aligned at the moment.
I know there are questions about whether there is enough biofuel feedstock for all shipping needs -- so that's why I think the ability of MSAR to carry many feedstocks is important.
Hotfinance, I think you perhaps meant to refer to Iraq? I recall JM saying they had some initial shows of interest there, perhaps about 1 year ago. Iran is still under very heavy sanctions that would make any business dealings impossible.
Hi everyone. I've been working on a new edition of Quorum for a while about why MSAR should be a very good fit for MSC; I thought it was finally time to put it out!
Thanks also to @Burble61 on the forums for contributing to the last section.
Please do share with anyone who you think might be interested.
https://quorumzine.gitlab.io/quorum/content/2022/06/13/top-10-reasons-msc-use-quadrise-msar.html