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I give this share a little more time,if no improvement might as well cut my losses.
With no word from company and the concerning news articles I am not surprised investors are frustrated. Woodbois missing their own deadline to post the audited results is bizarre, is the new CEO incompetent as the news articles infer or have the auditors raised issues causing delays? The share price since this CEO took over has tanked. A lot of investors see this as an ESG stock and yet the company does not address the news articles that raise environmental and ethical concerns.
When they eventually do give us the audited results, I would hope the address the following:
1) This lost government contract that is in the news for delays and non-compliance of quality standards
2) Address the reports in Gabon of financial difficulty
3) Update on the $5m finance, they announced signing the term sheet in early February but we still await confirmation they have the facility in place
4) An update on 2024 production, especially given reports of employee strikes
5) A full update on the carbon credit project
As 5h1t-or-Bust says, The silence is deafening. When companies have good news they shout it from the rooftops and when there is bad news; tumbleweed
I first bought in around 2.79p and have added to it incrementally over the years which has brought my average down to 1.03p but I don't know if I can handle adding anything further at the moment.
This company has a history of late reports. See previous RNS's.
Gives the impression of being run on a shoestring. You have to be prepared to lose everything in this market. But you may get a pleasant surprise.
Same im gonna bail out at my average at 1.49p
The Silence is deafening. .
This is the worst performing share I have in my portfolio by a long chalk.
Bought in initially with very high hopes which have proven to be misfounded.
One day I hope to regain my investment and bail out currently averaged at 1.85p
Good luck to all invested here.
We are now at the end of the month and still no news, getting very annoyed.
You should get your wish at the end of this week. The RNS of 8 February 2024 was very upbeat and said that the 2023 results should be available at the end of May. In my view it ought to be accompanied by a statement on several subjects mentioned in the RNS plus the loss of the road contract. The progress on carbon credits would be one subject that deserves a full update. Backers selling their shares should be another.
Many have been on this rollercoaster for some time and are forever optimistic that there is good news around the corner, whilst many people have come late and just play the market.
The end of May may shed some light.
Im feeling the same frustration, its the only stock in my portfolio that is doing really badly.
Why don't they just put us out of our misery? :-(
Significant shareholder MCM Investment Partners selling a sizeable portion of their shares. Still no announcement from Woodbois management regarding the loss of contract which is unusual? I would have thought an RNS would be due?
Massive bid in the market at premium. Can sell all my shares for above 0.6p. Lets see if it pushes on this week
2 x 10m trades near the highs
Interesting
feels like its gearing for a huge move
Accumulation then boom.
It’s very interesting. There is a clearly been a transfer of stock from loose hands to sticky hands the past couple of months
Feel like it’s getting ready for a big move
What is going on here? Late massive trades yesterday together with an exceptional number of meaty buy trades - just before the promised statement on 2023 trading. What does somebody know that I do not!
Thank you 'Investingeyes' for this info. It appears that the sub-contractor to WOODBOIS has been asked to carry on the project for what appears to be a dirt road (at the moment) through the forest.
see here and tick english translation:-
https://gabonactu24.com/2024/05/17/revocation-de-woodbois-pour-defaut-de-performance-west-co-prend-les-commandes-du-projet-routier-dans-le-departement-logoulou/
This deserves an explanation from WOODBOIS CEO.
There are news articles from June/July 2023 saying Woodbois was involved in road construction and then this recent article says the Ministry of Public Works has dismissed them at the start of May for multiple delays and non-compliance with quality standards
End of May promised report gets closer. Nearly 100% buys at end of play yesterday. This share appears to be a favourite for many gamblers.
According to my knowledge Woodbois is not involved in road construction, since it is a timber producing company, so why should this have any connection?
If you look into this further there is an article on the website gabonactu24. It says in early May Woodbois were removed from a crucial road rehabilitation project for multiple delays and non-compliance with the required quality standards
Strikes are very common in Africa, so nothing unusual and probably not the first time.
This is the translation:- We give each other news..." and "WOODBOIS Gabon or the reasons for a stalemate" . If this is true, it
seems like a problem over a negotiation with the staff - about unpaid wages?
11 buys yesterday at about £25k each so its not clear why so many large buys - with the negative information from 'Gillor'.
Anyone know if the warrants are being cashed?
For those who don't speak languages... this is what they said....
16:40
The employees of Mouila are currently on strike because of unpaid wages