Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Started: Matthewv1978, 17 Jun 2024 22:34
Last post: numbersrule, 18 Jun 2024 21:02
Ah, but hold on..............isn't the darkest hour often said to be just before dawn...........
Well sell then.
I worked in Gabon for a long time and knew there well a danish guy, former director of Woodbois. He spent long periods on operating site and in forest, alongside the employees. The company was functioning and growing. The management style responded to African codes. Today, the company is falling apart due to CEO's attitude, which consists of promises and small talk.
Let's call a spade a spade: production is stopped, employees are mistreated, financial statements are dark red, tax arrears and contributions are piling up, equipment stock, vehicules and machinery are deteriorated, suppliers and service providers are waiting to be paid, the company has lost a very important market, buyers are waiting for wood that they have prepaid for, but may never see, etc. The handicap has become gigantic. The company is no longer considered credible and is the subject of a tax audit. Results will certainly be severe.
A refinancing, even a very large one, may be able to delay the time you have to pay the bill. But one thing is certain: the current problems will not be solved by practicing belly dance.
Do we know if this deal on Friday was a buy or sell??
18,607,483 Unknown* 94.90k
Things are looking worrying here with this sp, and I fear I'm about to lose a whole heap of cash!! Eeek.
Started: Samthespaniel, 15 Jun 2024 17:23
Last post: Samthespaniel, 16 Jun 2024 16:37
Its only a recollection that Theuns had crossed my line of sight at some time over the past few months. I do not wish to put people off Woodbois without hard evidence. I made a conscious decision to cut my losses because the company failed to keep the shareholders informed and Valsen/Ziddi appear to be the only people providing information about the situation in the depths of Gabon.
Sam, what was the company in Africa? Maybe I can do some searching?
Ziddi I hope for your sake you are right but you are not a trustworthy source and you post with too much emotion. Valsen has the same problem... Almost childish in the way you both act. You remind me of someone who's had their benefits stopped... 🤷🏼♂️
Conversed with the 1's and 0's again and found Wirecard crop up but after asking for more indepth information on Wirecard the AI then decided Theuns had nothing to do with Wirecard after all. For those that don't know Wirecard was a massive headache for Germany.
Guido Theuns has been involved with several companies throughout his career. Most notably, he is currently the CEO and Executive Chairman of Woodbois Ltd, a company focused on sustainable forestry and timber production (MarketScreener) (The Official Board). Additionally, he has held significant roles at other firms including Pluta AG and Wirecard, where he played key roles in corporate restructuring and business development (MarketScreener).
His career spans various industries, emphasizing his versatility and leadership in both finance and operational management within diverse sectors.
Pluta AG:
Pluta AG is a German company specializing in insolvency administration and restructuring. The firm is known for handling various high-profile insolvency cases and offering comprehensive legal and consulting services related to corporate restructuring. They assist companies in financial distress by managing insolvency proceedings, securing follow-up solutions, and preserving jobs where possible. Notable recent cases include restructuring efforts for Koelble & Brunotte GmbH and TTL OP GmbH, and insolvency proceedings for several companies within the Traumhaus Group (PLUTA) (PLUTA) (PLUTA).
Wirecard:
Wirecard AG was a German payment processing and financial services company that collapsed in 2020 following a massive financial scandal. The company was found to have a $2 billion hole in its balance sheet, which auditors discovered was due to the non-existence of purported cash balances. This revelation led to the arrest of key executives, including CEO Markus Braun, and the company filing for insolvency. Wirecard's downfall was a major scandal that exposed significant regulatory and auditing failures (Wikipedia) (Fast Company) (theweek).
Guido Theuns, however, was not involved with Wirecard. His career has been primarily associated with companies like Pluta AG and Woodbois Ltd., where he has played significant roles in restructuring and corporate governance (MarketScreener) (London South East).
Let’s wait for the big month with key information about the sinking boat. No production, all key staff leaving, obviously they call it reorganization:-) would someone also them about production output and value of the output on daily basis?
Started: Davh, 12 Jun 2024 13:12
Last post: Ziddi, 16 Jun 2024 10:30
There is no production , all lies.
After checking directly with WBG employees, the announced production figures are completely fanciful.
Operations are at a standstill for various reasons (irregular salaries, disorganization, administrative complications due to non-payment of taxes, and so on). The equipment fleet has suffered and must be upgraded.
It is therefore unrealistic to expect to achieve the announced results, even in several months.
Surely we will get an RNS for trades of that size
From the company website: So far in 2024 whilst implementing new management, procedures, procurement, replacing equipment and maintenance the Group was still able to maintain daily production around H1 2023 levels, with the sawmill averaging 37 m3/working day and in the veneer factory averaging 18 m3/working day. The operations are being readied for a planned major and sustainable increase to record levels in the second half of 2024.
2 actually:
11-Jun-24 15:34:37 0.535 50,000,000 Unknown* 267.50k O
11-Jun-24 15:34:16 0.54 46,296,296 Unknown* 250.00k O
Started: DPWGonzo, 15 Jun 2024 22:12
Last post: DPWGonzo, 15 Jun 2024 22:59
If it's not fact AI cannot see it... If information cannot be verified from multiple unlinked sources it gets filtered... If information comes from a historically unreliable source it gets filtered...
It is challenging to definitively state whether Woodbois Ltd is intentionally hiding information without concrete evidence. However, several indicators can help assess the transparency of a company:
Public Disclosures: Companies listed on stock exchanges are typically required to disclose significant information about their operations, financial performance, and strategic changes. Woodbois, being listed on the London Stock Exchange, is subject to these regulations and regularly publishes updates through official channels such as press releases and financial reports (Financial Times) (Hargreaves Lansdown).
Recent Developments: Woodbois has been transparent about major changes, including leadership restructuring and securing new financing to support its operations in Gabon. They have also openly discussed their exit from Mozambique to streamline focus on core activities (London South East) (Hargreaves Lansdown).
Independent Reports: Analysts and financial news outlets often review and report on listed companies. Woodbois has been covered by various financial platforms, which helps provide a check on the accuracy and completeness of the company's public statements (Hargreaves Lansdown) (Financial Times).
Regulatory Compliance: Any evidence of regulatory compliance issues or fines can be a red flag. So far, there have been no prominent reports suggesting Woodbois has faced significant regulatory actions for non-disclosure or misleading information.
Given these points, while there is no immediate indication that Woodbois is hiding information, it remains important for investors and stakeholders to stay informed through multiple sources and remain vigilant about any discrepancies between reported information and actual performance. If there are concerns, reviewing the company's filings with regulatory bodies like the London Stock Exchange or the UK Financial Conduct Authority can provide additional insights.
Decided to smash the AI tools currently available in the hope of getting a cold hearted answer from a soulless logical mindless nothing... This is all the cold hard logical factual information it was able to offer no matter what data I fed in...
Woodbois Ltd had plans to secure a road-building contract as part of their business activities. However, as of early 2024, there have been no substantial updates or confirmations regarding the status or outcome of this contract. The company's recent focus has been on securing financing to boost production in Gabon and exiting its operations in Mozambique to concentrate on its core timber business (London South East) (Hargreaves Lansdown). This strategic pivot suggests that their primary efforts are currently directed towards enhancing their timber and veneer production capabilities rather than expanding into infrastructure projects like road building.
For the latest and most accurate updates on Woodbois' business activities, it's advisable to keep an eye on their official announcements and financial news reports.
I think I'll listen to it... Try for yourself and post what responses you get from it so we can all learn... 🦾
Started: 0777brad, 14 Jun 2024 08:37
Last post: 0777brad, 14 Jun 2024 08:37
Surely we should have a bit more information soon
Is that a 50 million delayed buy showing from yesterday? 😳
Started: Motogte_youtube, 12 Jun 2024 10:16
Last post: Valsen, 12 Jun 2024 11:46
After the salespeople who cautiously withdrew, two historical members of the group in turn decided to distance themselves from the current governance, after having suffered heavy losses and suffered great disappointments.
The rearticulation of positions of responsibility is also almost amusing: we arrive ''Lolita'' Aminata Anselle and her human resources colleague, both of whom arrived in Gabon in the luggage of Mr. Theuns, to designate (finally) people with other skills. only decorative...
The content published by the CEO is, as usual, a mixture of announcements and promises. It does not contain any factual element based on reassuring and, above all, concrete results. We are waiting for financial facilities, proof of a tragic budgetary situation, while production in Gabon is completely at a standstill, without forgetting the arrears of taxes, social security contributions, taxes of all kinds and invoices not paid since months and months.
Getting the accounting back in order, after an audit with painful results, will be rather complicated. We will have to twist reality again to present a vision as decent as possible.
But monitoring the situation over the past 6 months shows that the CEO is a talented conjurer.
What suspense!
Reducing the head count also, big help to balance sheet, being so oversold could be a big bounce here worth keeping close eye on the volume.
Why no update on the carbon project? or is this the "withdrawn from uneconomic and burdensome business activities"? I assumed that is the road project the government dismissed them from?
It doesn't to bad, new board members after 7 years could freshen things up. Possibly drain was buying new equipment but look at the net income loss on 2022, 2023 and 2024 should be an improving picture, plus they are looking to get better terms on the loans, whilst selling off some assets. All that should improve the balance sheet, company no doubt in a better place than 6 months ago when we hit a penny so sp and cap is silly right now, I'll probably average down and wait patiently I want 1.20 no less before selling 50%.
Started: shal1000, 10 Jun 2024 08:57
Last post: Valsen, 10 Jun 2024 19:26
Delayed publication of audited financial statements for the year 2023 (announced for the end of June) due to the seasonal workload of auditors is curious.
Indeed, WBI Management received this report from ACN & Co (based in Cameroon) about 3 months ago.
The content of this report must be truly worrying, especially when we summarize the situation in Gabon: cash flow in great difficulty, loss of an important market, high tax arrears, significant salary delays, etc.
Gabon is a small country and it is easy to collect precise information. The publication of the results will therefore be difficult to prepare for the board. Without forgetting the projects to reorganize and rationalize operations and personnel. Management must have a serious headache right now.
13 mill,just there.
Further to the announcement on 8 February 2024, Woodbois Ltd (AIM: WBI), a leading company in the international timber industry, now expects to publish its audited financial statements for the year ended 31 December 2023 during the month of June, having been delayed due to auditors' seasonal workload and because of a primary internal focus on the reorganisation and streamlining of operations and personnel.
Started: Samthespaniel, 31 May 2024 12:00
Last post: Samthespaniel, 10 Jun 2024 09:58
I wrote this post at the end of May. Since then, there has been a large number of posts, mostly unhelpful.
The accounting industry is struggling to service the business world so I find the RNS today plausible.
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.
Started: Ctw2014, 7 Jun 2024 15:29
Last post: Valsen, 9 Jun 2024 10:42
Thank you Ziddi for that clarification,
sydbank's withdrawal came shortly after the questionable imports from the central african republic, this could be linked.
Woodbois has been really unlucky for almost two years, particularly since the summer of 2023 which marks the start of a descent into hell.
The losses you mention seem more and more difficult to overcome, despite the small start you mention.
The type of management seems to be the main cause of this mess. Debts and troubles pile up. Everything happens as if the current CEO doesn't care at all about the particularities of the forestry profession and the local situation.
Not to mention the employees, whose situation does not seem to really concern him.
A miracle is always possible, but the accumulation of problems in Gabon has reached such a high level that it seems impossible to fix the situation without injecting a lot of money into the project. And without absolute certainty of success.
Valsen this is not correct. Sydbank withdrew because of poor financial results and continuous losses.
Ctw2014, for your information, Sydbank withdrew its $6 million credit line in April 2023 because Woodbois had repeatedly purchased wood from the Central African Republic, from the company ''Bois Rouge'', associated with the Russian group Wagner. You will easily find information on this murky affair...
Yes both misrepresentation and fraud is happening in the company, starting from the valuation of their biological assets…
They have not received any trade finance facility of usd 5 mio, all lies.
If things are going so well why would their bank in Denmark close their accounts?
The new CEO has apparently restructured , so let him come forward with his genius ideas , among others developing tourism in Gabon!!!
Started: Samthespaniel, 6 Jun 2024 19:06
Last post: mackyd, 7 Jun 2024 23:35
Do you hold shares in wbi? If so why if u believe their going under+if not why are you here trolling?
All these things are being hidden. You can ask yourself why Woodbois management is hiding and not commenting or denying the articles…
2slow2know let’s focus on what’s happening with Woodbois rather than focusing on people.
It is disturbing news in Gabon and we are not getting any comments from Woodbois about non payment of wages and factory being shut down, no financial statement nor forecasts since several months…
On LinkedIn they post new about sponsoring golf tournaments but unable to pay their staff. What is your opinion about this? Or that’s false news as well?
To be fair that would be massively impressive to hide the fact that so much is going wrong according to those articles... They should be politicians! I'm still calling BS on this but you never know what people are capable of... 🤔
Ziddi not Siddhi
Started: StyxFan, 7 Jun 2024 07:43
Last post: StyxFan, 7 Jun 2024 07:43
Are due imminently methinks. I'm hanging on to my holding.
Started: 5h1t-or-Bust, 31 May 2024 11:33
Last post: Ziddi, 6 Jun 2024 17:30
The company is going bust. The traders have left the company, the factory is not functioning, salaries not being paid to workers. The company is run by a CEO with zero knowledge about forestry and carbon industry.
It’s a matter of short time , Woodbois has run out of cash and if no injections are made within 1-2 weeks it will die.
Last year on 11th April 2023 there was a Q1 2023 Update - why no update on Q1 2024 so far this year'
The Q1 Update last year was followed on 9th June 2023 by the Audited Results for FY 2022.
Has anyone had contact with the company of there brokers for news as to when to expect the Audited Results for 2023.
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.
Started: dsymons, 5 Jun 2024 14:53
Last post: techguru91, 5 Jun 2024 15:07
What are you expecting tomorrow?
Numbers tomorrow....
Started: Investingeyes, 23 May 2024 16:46
Last post: shal1000, 31 May 2024 11:10
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?
Started: techguru91, 21 May 2024 15:32
Last post: techguru91, 21 May 2024 15:32
Massive bid in the market at premium. Can sell all my shares for above 0.6p. Lets see if it pushes on this week
Started: Samthespaniel, 21 May 2024 04:47
Last post: AmyStake, 21 May 2024 14:44
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!
Started: Gillor, 15 May 2024 08:54
Last post: Samthespaniel, 19 May 2024 11:41
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
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.
Started: shal1000, 14 May 2024 09:09
Last post: Samthespaniel, 18 May 2024 09:32
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.
Fingers crossed, hope this gets a GME short squeeze or something and it sky rockets to like 3p lol
The RNS of 8 February 2024 said this:-
The Company expects to issue its audited 2023 results in May 2024.
The Board is confident that 2024 will mark a positive and decisive turning point for Woodbois, turning the Company into a reliable, cash generative and profitable business with a high-quality investor base.
Suggest you hold for a little while longer. I have always been positive about a 'light at the end of the tunnel' despite the problems that the board have had to deal with. I've bought constantly from 5.4p down to 0.4 and back to 0.6. I'm at 0.9p average. If the shares start to take off, as I hope in May/June 2024, the upside through 2024 will have justified the decision to stick with this company.
All other stocks in my portfolio are moving big time, so bored of watching this for three years and nothing happening. I need to break even at 1.50p. Anyone know whats going on and when results are coming?
Delayed 25 mil showing from yesterday?
Started: Gillor, 16 May 2024 16:40
Last post: Matthewv1978, 16 May 2024 19:33
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
Les salariés de Mouila sont actuellement en grève à cause des salaires impayés
Started: AmyStake, 16 May 2024 15:19
Last post: AmyStake, 16 May 2024 15:19
Almost 100m volume. Thats impressive and i'm sure will catch a few people's eyes
Last post: Motogte_youtube, 16 May 2024 15:13
Shake out non sense, 2022 big net income loses sp well over double current price, 2023 less of net income loss improving revenue. So 2024 is no way near near as bad as 2022. We know all the difficulties of past 2 years and 2024 should be more steady and they have plenty cash in hand. It's about patience here and 2021 revenue and net income can be achieved again, cap is silly should be double.
Half a million in buys this morning and stock price goes down. Something bxxxxxxt going on
Started: Leetom, 16 May 2024 12:25
Last post: Leetom, 16 May 2024 12:25
I think the reporter obviously doesn't like theo. They have had issues in the past, which they are now out to rectify, which they have stated. They are working well with the government and have stated there will be management structure changes, so maybe disgruntled employees... dont like the fact they aren't getting there kickback any more. As far as bankruptcy goes, they are talking about 10k of debt?! Nothing major other than sniping at a company thats trying to be more cost effective and efficient in a country that doesn't exactly play by the rules. There are other articles which put the context of the company in a more constructive manor and not a complete rant about theo and someone losing there job.
Started: AmyStake, 15 May 2024 11:06
Last post: AmyStake, 15 May 2024 11:06
Think we are on the cusp of a big rerate here
Ask yourself... why would 200m shares of 1p warrants be exercised if this wasn't going to be significantly higher than 1p soon
It makes no sense. Thats £2m when you could have bought that stock much cheaper than 1p
Really intrigued to see how this pans out but the signs are there for a really good move