Quadrise Fuels (QFI) announced a £2.16 million open offer at 2.4p on 7 December warning that unless it was supported the company would be crash landing in tits up alley in January. It extended the closing date by a week until last Friday and today revealed that “it was delighted” that it had raised gross proceeds of £1.51 million. Death has been postponed. But not for long.
The recent low oil prices have not only affected companies producing the commodity, but also others which rely on prices being high in order for their own products to be competitive. AIM-listed Quadrise Fuels (QFI) offers a good alternative investment for anyone who is confident that oil prices will ultimately recover, but who is looking for something a bit different to the traditional earlier-stage oil and gas investments around.
Quadrise Fuels (QFI) is technically in the oil producers sector but is very different to most of its peers! This AIM listed company has basically found a way of turning water into fuel, although obviously there is a lot more to it than just that.
Quadrise Minerals (QFI) has been one of the year’s better breakout stories, with the good news here starting as long ago as August when there was an unfilled gap to the upside through the 200 day moving average then at 12p.
As you might imagine there are very few charts that I have not that even in the small caps area. Quadrise Fuels International is one of this rare breed, and looking at the present technical set up, more is the pity.
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