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Share price going up anyway lately. Its a positive rns but they will need to land at least 40 of them to hit that “inflection”.
It could turn into a nice income from new contracts ,level 2 looking better .
Lol aiming, I wish you well and good luck
You’ve certainly got balls
To be honest if we recieved a 50 million pound order paid in advance this share would still be slated by a few who’ve lost big time over the years ,can’t blame them but it’s boring really now .
We have next few months to fill the £5.5m+ revenue shortfall which brings the company to profitability. Will be an interesting close to the year should they final deliver on expectations. It goes without saying, not without risk here but certainly a favourable buy at this price.
Stop ramping Misty, this isn't worth over £250k and you know it.
It's an incremental positive, but not enough to move the share price...so any leak wouldn't have cause the recent rise IMO. Good to see the UK business growing
Obviously It’s been lowered - along with everything else.
I thought Pete had said 250k minimum for RNS?
And who said this wasn’t leaky? My. A r s e
RNS out. Whoooop Whooooop 100k contract.
Tom is a sad, bitter fool who has a grudge against most of humanity. Everything he prints is a vendetta against someone he views to have wronged him. A sad human being. Good luck everyone.
If Tom says one is being worked I for one believe him, from my experience he's not so hot with his tips but placings and frauds he's always been spot on from what I've seen before. This was due a bounce and great if you can time it, but it's still a bargepole from me
Aim you know what's happening ...........it a placing being worked, the bashers have been saying for eternity. It cant be anything else,,,,,,,,,,,,,,,,,,,,
I can only presume that the impact to Wsg is negative…. Otherwise Pete would be building the increased revenue into 2023 numbers….I have not heard him say the £5m in recurring revenue includes a larger input from SL….he has been very silent . I also presume that DL have had a stab at stating what they expect the increased footfall through the airport to be…£270m is a lot to pay out without certainty of a quick return…. B
Thank you, Bigears for that informative and helpful analysis.
What’s happening. SP is going up :-0
Surely the SLAA has to have some involvement somewhere in the new airport and therefore their agreements come in to play. You can’t have an airport authority that doesn’t have authority of an airport in that country ?
Clearly though, once this airport opens then flights are going to go there and not the old airport so there is going to be an impact. Question is, are WSG going to be on the right side of any impact or going to end up marginalised ? I can almost see Foolers feeble protestations now.
In Dec 2020 the SL government ratified a contract with the Summa Group ( Summa) for a 25 year Build operate transfer (BOT ) contract for the construction and operation of a new Airport to replace the existing.
https://www.thesierraleonetelegraph.com/sierra-leone-parliament-ratifies-lungi-international-airport-expansion-project/
The scheme commenced late 2020 https://sierraloaded.sl/news/summa-group-constructing-new-ultra-modern-airport-lungi/. and is forecast to be complete for the end of this year.
http://www.thepatrioticvanguard.com/president-bio-inspects-ongoing-airport-work
To understand their business model ( and I see no reason why they won’t duplicate it at SL) , look at the airport Summa run at the Diori Hammani Int Airport ( DHIA) in Niger under a BOT concession;
https://niameyairport.com/en/about-us/
https://cdn2.hubspot.net/hubfs/4641184/Featured%20Research/Summa%20-%20Projects%20are%20on%20track.pdf
“As the sole operator of the DHIA, Summa is able to optimise processes and exercise stringent cost control at every step of value creation to maximise the return on its investment. There are two main revenue streams for Summa: 1) aeronautical revenues, including all charges related to arrival and departure of aircraft, passengers and cargo; and 2) non-aeronautical, including retail concessions, airline catering, car parking and other services provided in a modern international airport.
In addition, under the terms of the 30-year concession agreement, Summa is entitled to a EUR52 infrastructure development charge per departing international passenger, collected directly from the International Air Transport Association (IATA).”
WSG’s contract runs 2027 for the existing airport contract where they pocket $39.00 pr dep pax , however the contract states the following;
“The SLAA shall,under separate agreement, exclusively contract with Westminster for any new airport security services ( whether at the FNA or any other airport in Sierra Leone ) subject to agreeing relevant terms and costing.“ …………………………………..emphasis being on “ subject to agreeing relevant terms and costing “.
Summa’s contract isn’t with the SLAA it’s with The Republic of Sierra Leone !
Now Interestingly , on page 18 of the 2020 agreement SL has with Summa it states the following;
“all those aeronautical fees and all other revenues from the Airport shall be collected solely and exclusively by a private party during the entire operation period and shall not be subject to any deduction allocation or sharing with the public party ( that’s the Government ) or any third party.”
So I ask myself ……….. Would a savvy outfit like Summa ,along with their banks & investors pony up $270m committing to a 25 year contract, where for the first five years , the thick end of $4M per year was being skimmed off their shiny new airport by the old airports incumbent security company ………. for scanning a boarding pass ?
I think these are good observations about the impending completion of Freetown Airport from Suma... I n ote it is being badged as "a new airport" rather than a mere extension to the existing one..... and with completion being so close, I do find it odd that it doesn't even/ever get a mention in the Airport updates from Pete..... In comparison, He often mentions the TEMA expansions and the improvement of volume on income... yet not a peep on Freetown, his flagship MSC...... Can it be supposed that WSG are somehow not getting some of the expansion action.... I agree that if this was a nailed on certainty that a step change in revenue will come out of the upgrade and increased footfall... Pete would be jumping up and down with his megaphone.... and he is not...... Not even sure when he spoke last about the expansion..... certainly not in the 21 or 22 business updates.......B
Summa’s contract is with “The Republic of Sierra Leone” .
WSG,s contract is with the “Sierra Leone Airports Authority” ………………I smell a rat ………|o:
Fowler has given no indication of engagement with the summa group in the new terminal expansion
However this breaches the terms of their contract with the SLAA- the latter may argue that a meeting was convened in feb 21 to introduce the respective parties and encourage collaboration
Well we don't know do we? Pretty sure we will be at the table. What are you trying to say? The end is neigh or how much can we make? So many questions, so little to say.
Will the opening of the new terminal affect the SL revenue? Now and up to 2027? Will it impact contract renewal?
Well you can't have it both ways. I have seen none of this behaviour since the pandemic. Maybe he realised that any pump talk would be met with a barrage of derision so better play your cards close to your chest? Nobody knows what the future will hold but many here appear to know better. They look to the past and then choose to ignore anything potentially positive. Calling someone names is not an argument, mocking is not an argument, is see no examples of failure to fulfil customer requirements. Many business struggle to make a profit whilst trying to grow to a size where they can deliver at scale. Peeps (I hate that word) should cut some slack, and get behind this company because they are doing what they do best. I could add some extra ..................... but I wont.
asked themselves why………….given the SP is on its ar$e and screaming out for any sort of good news story , a gob sh*te CEO like Peter Fowler who ordinarily embellishes everything from the opening of an envelope to a mango mask vending machine hasn’t muttered a single word in relation the new $270m airport due for completion at the end of this year ….?
No mention in the H/Y report , nowt in the outlook …Nothing about any new security apparatus, not a peep on the job creation for the increased terminal size, or the fat increase in pax the airport will be capable of handling……. Nowt , zilch ………. the absence of even an acknowledgment of the new airport with any reference to future revenues is remarkably out of character ……..I wonder why ? ………..|o:
Baldry bought 177k shares at 5.65p in aug 2021
He avoided buying a single share for a few years until then having inside knowledge of fowler’s lies and bulls@t and with a strong implicit statement of what a terrible investment it was even at 5.65p
Well that will go on his retirement card- ‘ I told you it was a sh@t investment’