TSXV:PQE.H - Post by User
Post by
BlueMetal75on Aug 29, 2019 10:07am
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Post# 30078866
Today's NR was nice, but...
Today's NR was nice, but...The NR we really need to see is that we are back in production, and details on how quickly we will be ramping up to 1,000 bpd. Until then, we won't have the money to do the expansion project that was referred to in today's NR - not without a massive, completely unacceptable amount of dilution to existing shareholders (given the low share price). Fortunately, we are expecting such a NR sometime in the first half of Sept.
Still, today's NR was obviously good news - it shows that we won't have any regulatory hurdles standing in our way, once we do have the funds and are ready to proceed with the expansion. Plus, just the fact that it shows the company is still alive and kicking, and making concrete and specific growth plans for the future, is a big positive. Because I get the distinct feeling that - given the lack of production over the summer and declining share price - certain parties have already written off our little company as a failure. Another US Oil Sands, if you will.
Well, today's NR (together with recent news regarding more progress on further int'l licensing deals) proves that rumors about Petroteq's demise have been greatly exaggerated. And all we need to do is see that the summer retrofit program worked, and get that production at Asphalt Ridge going, and we are right back on track! Exciting times for PQE shareholders. Especially given the amount of reserves in the ground we have now locked up!
I also look forward to hearing about the progress we are making in our asphalt shingle bitumen recovery program. Pretty sure our tech guys have been doing a lot of work along those lines in the lab.
GLTAL