Quadrise’s operations in Morocco have not been affected by the earthquake, the company confirmed this morning, with the installation and commissioning of a replacement pump underway.
House broker Shore Cap said the trial is now expected to recommence in early October 2023 and it is hopeful it resume smoothly following issues with the previous pumps’ performance under high pressure.
“We see no reason why a newly designed pump will not perform well and enable the trial to be completed successfully,” added the broker.
“Quadrise shares currently trade at less than half of their three-month high, despite assurances that a ruling in Utah would not materially impact the development plan with Valkor and the trial in Morocco being only slightly delayed due to a requirement for a newly designed pump.
“We continue to see huge potential for bioMSAR and MSAR for marine and industrial usage,” ShoreCap added.