Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Yes 3P it looks like we may be at the beginning of a new dawn for WSG, I think even the most bullish amongst us have probably at some point wondered if WSG would make a return, but hopefully fortune will favour those brave enough to accumulate when it was down in the 1’s and they will make a very good return, those that purchased when the SP was a lot higher and continued to hold , will at least recover some or (depending on what price they bought at) all of their losses and those that trade it, providing that all important liquidity will also make some decent cash on the way back up.
DRC gives us a fantastic base to move on from. When up and running, it will have a decent revenue and cash stream that I am sure will help WSG to push on and hopefully close a few more deals.
They have been promising another one or two MSCs for the last three years, so hopefully we’re not too far away from seeing at least another one land.
Are we witnessing a new wsg ?
Hard to believe it's now almost 3 years since they raised cash (june 2021), it would seem Lunghi, short term Ghana & these many smaller tech contracts have got them through despite all the doubters (me included)
£40k of shares bought by directors around 1.8p
reduction of capital toward end of 2021:
"The effect of the Reduction of Capital is to create distributable reserves and to eliminate the accumulated losses on the Company's profit and loss account which, amongst other things, would enhance the Company's ability to pay dividends and/or to make other forms of distributions to shareholders in the future"
and now DRC finally ratified
Where is this signed permission by the way? The EU blacklist one
Can you elaborate
He has the funding it's in writing
hi, t&g , below, your words to me when you posted that you had sold out and i asked whether it was yarabs that encouraged you to do so.
---------------
" you are what your comments reveal you are!
it makes no difference when/if/why i sold. only to you which says it all.
i am not engaging with you, (like many others on here, because you waste my time!)
like foxy, who shared this board for 10 plus years, i pop in, possibly in habit, because so many lth sufferred like we did and it provides "solace" to know we were not alone in our losses.
feel free to fill your boots!
i couldn't care less!! just dyor! "
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well if you sold out at 1.5p you are not a long term holder any more or was that a lie?
i am a holder from the iran days. i also saw a massive drop in my investments value but i didn't respond by constantly ****ging off peter. i chose to buy more shares and lower my average. yes, i filled my boots! 330,000 at 1.6p.
strange how misty, foxy and yarabs are holding their tongues.. that can't last much longer...
ttfn
Aiminghigh. Nail on head. Lets see what next week brings, we will know more after the investor calls.
The obvious fear looming is placing, hes stuffed us with plenty but not had one for a long time and the rns suggests debt financing . Lets hope so.
Gentee im a LTH and equally as bitter, ive cursed PF many times - but now theres clear day light at the end of the very long tunnel it is time to look forward not backwards.
Lets hope this is the start of a much better time for WSG and they have learnt many lessons along the way. Good luck.
Ian: I suspect that the thing holding this back (other than a terrible history) is funding. If PF can assure us that an equity raise is not on the cards for the funding of the DRC contract then that could take the brakes off the share price.
I am surprised we’re still in the 3s, but it was never going to hit double digits straight off.
Does Geentee not understand the word Alias, or is he confessing to being the same person as Vander???
Wsg have made a resounding success of Freetown airport sierra Leone. Its the flagship model and im sure DRC analysed it very carefully before making their decision.
A minimum 10 years contract signed with 5 year add on. Valued at a minimum £200million but realistically worth a lot more over its life time as more International flights add DRC to their routes.
A further contract with DRC for cargo flights is a very real prospect now and if signed is said to be worth at least the same as the embarking passenger contract? Anyone confirm?
Other African Airport contracts are in the pipeline and hopefully those said to be close will be sped along now they have seen DRC sign. WSG has had a very testing history but suddenly things are looking a whole lot better.
A tiny £11.5 mil mcap this weekend. Surely that has to rise substantially on this contract win alone and the now clear and obvious potential for a lot more.
Thanks Vander.
I would support everything you said.
Gibbo....WRONG! I do not want to see WSG fail....on the contrary. I would love it to succeed.
We are only saying ....do not count your chickens.
Just because Fowler SAYS something, doesn't mean it is going to happen.
As I said before....it's what he doesn't say that is the worry.
Yes I am a LTH, who has been well and truly stung by this company....jam tomorrow every year.
I believed in his words but I was shafted by his actions.
All we are saying is......PLEASE BE CAREFUL.
All is NOT what it seems.
Have patience and wait to see the proposed actions put into practice.
If it is true, it will evolve slowly.
DO NOT BE FOOLED BY THE FOWLER!!
Wait and see what happens.
Vander, bless you, I appreciate that you and your aliases are desperate to see this company fail. This week must have been a really tough week for you. Are you okay?
"our money" lol
How much have you in Vander?
Gibbo you can’t hide WSG’s past
New investors only need to look at the SP graph and history of management dishonesty and incompetence
WSG has taken a high risk strategy in DRC which much larger companies with much higher competence and resources have declined.
Fowler is not afraid to gamble our money and also to encourage SP speculation prior to placements- there have been tens of MoUs which have faded into a 20 year mist
Let’s hope the Sierra queen fiasco and tema are not repeated. Both were trumpeted by fowler as transformational contracts (worth ‘hundreds of million usd’) and the ferry was loss making
It will take a while to make a judgement on this- the least reliable evidence from fowler’s RNS- new investors would be wise not to take these at face value and do careful research
It will take a while to see through the smoke screen
'here today, gone today'
A couple of great posts with which I fully concur.
Interesting social media this week. Take a look at the tweet from UK in DRC https://x.com/UKinDRC/status/1777702896684999156 . Take a look at the bottom left hand corner, one of the parties out there this week was dma invest.
Take a look at their website advertising the DRC event https://www.developingmarkets.com/upcoming-events/trade-and-investment-mission-to-drc.
Then look at another up coming event later this month in Guinea https://www.developingmarkets.com/upcoming-events/trade-and-investment-mission-to-guinea. Look similar?
Interestingly, in January the Guinea CAA commenced a six month plus English course for all of the CAA staff "with a view to better communication with English-speaking partners"
https://www.linkedin.com/posts/autorit%C3%A9-guin%C3%A9enne-de-l-aviation-civile-agac_agac-formation-anglais-activity-7150874008845033472-Zede?utm_source=share&utm_medium=member_ios
I have no idea whether we are looking at Guinea or not, but I'd be surprised if we weren't. Likewise I don't know who their English speaking partners are, but I think this is possibly one to keep an eye on later this month.
GLR - Managed service contract margins tend to be in the 50%-60% region, the tech deals have lower margins of around 20-30%. For reference see the 28 March 2024 RNS ("The Group generated a continuing gross profit of £1.6 million (H1 2023: £2.2 million; H2 2022: £2.9 million) which equates to a gross margin of 57% (H1 2023: 64%; H2 2022 56%)."
The company is operational geared at the moment to absorb at least 2 or 3 of these large scale MSCs without having to increase head office overheads, so all of the gross margin (less any financing costs of course) will go straight to the bottom line. It will be a transformational deal. What a lot of folk forget is that not all of the investment will be needed straight away, so as the RNS says, they will be able to fund initially from cash reserves and then the debt funding will follow now that they have a signed contract in place. Also, don't forget that in around 5 - 6 months time, (3 months preparation phase + 2- 3 months of operation) they will start getting the first sales revenue remitted of circa $0.8m per month, so that will also be available to fund the business as well.
What this deal also does, is demonstrate the inordinate amount time taken to get a deal finally over the line. It's nearly three years since the contract was initially signed, I hate to think how long it took to get to that point. As a result, a lot of the previously touted opportunities (and those not touted) which have been dismissed as dead in the water by many, become genuinely potential on-going opportunities again. Of course not all of them will convert to contracts, but a quick glance at the 3 Dec 2020 RNS which listed the then live deals shows that the number of opportunities is very significant, and conversion of just two, three or four of them could make a price target of 26p seem quite unambitious.
Well having consigned my shareholding to the bottom draw some time ago, and watching my money ebb away, with countless jam tomorrow fundraises, dodgy boat deals horrendous port deals, Iran deals falling by the wayside, one would be mistaken for thinking this share was basically a lifestyle share for the fowler clan. However, having read the recent financials things were actually looking quite bright, in an effort to bring me to a profit I topped up with 250k about an hour before the announcement. I then went out all day and came back and read the announcement. I’m pleased to see this contract and any reference to funding its development looks not to dilute shareholders. I genuinely believe we will see a retrace back to double figures, and also the numbers quoted are on the tentatively conservative levels. 1.3 million shares that after about 10 years may see some value yet. We live in hope good weekend all.
Been busy all day and just noticed we're blue. Very nice.
And delighted to read a small, but characteristically insightful post from Only1. Even happier not to see any sign of the so-called Dr Vander.
WB is most unwelcome, however.
Have a great weekend!
Tell me about it
Well actually, don't !
Threeput....ime still enduring jakethedogs conspiracy stuff,at least once a week,under a new name.....he's a nightmare,with his weird beliefs.lol.
Nice to see ..
PS: WelcomeBoost.. is that you Gordon Bennett?
Glad to see some positive movement.
Started to pay attention to the SP again as I am beginning to think I might actually come away with profits, assuming the SP gets to 7p.
We re gonna be 16p next week or something. Brilliant news. It has been a Welcome boost indeed.
Drowning out the resident gloom merchants anyway, they will have to up their multi ID game.