Sky Quarry issues letter to shareholders

Sky Quarry (SKYQ) released a letter to shareholders from Sky Quarry management. The letter provides insights into the Company’s performance, key achievements of 2024, and its strategic focus as it navigates recent market developments. “2024 has been transformative for Sky Quarry, with significant achievements shaping the future of our Company… Since California provides over 150,000 barrels a day of fuel to Nevada, Sky Quarry sees a significant market opportunity and believes that by capitalizing on it, we can solidify our position as a key player in the Western fuel market… Additionally, we successfully completed a public offering… The year 2024 also marks the successful completion of our 2024 capital expenditure program for PR Spring… In anticipation of the completion of PR Spring and expected influx of sustainably produced oil it will bring; we made key strategic improvements to our Foreland Refinery in Nevada to optimize its production capacity… Management is actively working to bring awareness to the investing community through a variety of strategic investor relations efforts, both domestically and in the European market, with a goal of building a vibrant public investor base and expanding our approximate 10,000 shareholders… Looking ahead, we expect strong growth as our refinery asset improvements increase production, and our direct consumer sales and marketing efforts continue to perform… We are on track to deploy our first modular ASR facility, bringing us closer to our goal of operating five facilities within the next five years… As mentioned above, we plan to capitalize on emerging market opportunities such as the planned closure of the Phillips 66 refinery in late 2025.