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Probably still towing it to the Greek Islands for scrap.....
Almost forgot... getting excited by all this income.... are we getting the never never payments on the Ferry now.... didnt they buy it on hire purchase in the end?.......B
Yep, Tema may become a little cash cow ,.... a cash calf if you will.... all those £2 notes going in to the coffers should help push us in to profit once the footfall at SL starts to improve...... add in a sachet of Certific revenue and the start up revenue from DRC [either later this year or early 22]..... plus Liberia $1M... and the revenue from HoP......... could put a stop to further placements... now that would be an RNS we would all love to read..........B
Foxy: my grumpy of love cherub or eternal sunshine - i'm not convinced that the share changed due to a new agreement.
anyway, Tema is going, the port is expanding and hopefully post coivd and stage 4 (i think, i lose track) there will be more growth, and as previously stated, the operational gearing is great.
the company should be in a great place going into next year...they just need get the cash flowing in and not print any more ******* shares!
Tema - because he never got to sign a contract presumably!! I suspect they reached an agreement with Scanport instead. So no contract and no Lions share - not really the ingredients for an RNS?!
yrabs: i'd normally say that management should definitely tell us when ratification happens, if for no other reason that to give the SP a chance at a bump. but, for reasons I'm still not entirely sure of, PF never told us when Tema was sorted. so i wouldn't be shocked if ratification happened and we never got told.
either way, he really should clear it up on Friday
Foxy, I am not a bull... but I did sent Pasty P an e mail this morning asking for clarification of his guidance and if all on track and will reported so on Friday...... as he is not my mate, I doubt he will respond.. B
Instead of all these ‘ifs’ - perhaps one of our bulls/Twitterati might ask PF if confirmation of Ratification will be RNS’d??
All part of the contempt Fooler has for shareholders.
The instos won’t be bothered and will no doubt be fully appraised of the situation but everyone else is not deserving of information concerning THEIR company other than when the placing bucket needs replenishing.
Foxy/Aiming/Gibbo....................... If and its a big "IF"....... in that , Aiming is correct in that an RNS is only required if previous guidance [in an RNS] has changed................ so Guidance in June was ratification followed by a September start....... well, its 3 weeks until september [or 7/8 weeks if we go for the 30th]... and no recent RNS to provide new or revised guidance... could be saving himself the cost of an RNS and putting it in the half year report due Friday....... In that case, he may be looking to bury bad news with some good news...... volume today suggests that the market doesn't really care......B
The market thinks “both”.
If it was a “standard process” and PF had accurately interpreted how it would pan out, we’d be ratified.
So, either it isn’t or he hasn’t. Period.
Aiming.... doesnt need to be an RNS..... How about a tweet every now and then just comforting us........Pete is Mr cloak and dagger..... sitting at 5p with 4 MSCs in the bag .... suggests mis alignment between the market and the company.....B
Aiming...yep. Or should I say that working on the principle that silence means "on track" never works for WSG.........
B
yrabs: i get your skepticism (given the history)...but what do you expect re the Liberia MSC? Back in the original RNS they announced that it would commence in September. you want a weekly RNS stating that they are still on track?
the way companies work is that if things are still as per previous guidance then there is no need to tell you.
and dont forget, we are supposed to have the other MSC starting up in Sept...... no mention of that one being on track either..... Friday will be interesting.......B
Agreed Gibbo, but this is the world of wsg.... they do not do standard processes. Pete has held himself to ransom by putting dates out there..... "The plan"......ratification to take weeks, [from June] and 90 days later the soft start in September....... "The reality"...... no news on ratification and no news on start up [delayed or not]........ so what do we do?..... we could assume ratification has taken place and Pete didnt think we needed to know and all is well....... or we [and the market] assume everything is delayed......... and put this down to another WSG classic..... Pete probably put them dates out there to get his placing away......... now he has the money..... couldnt really give a monkeys.... he can now blame the DRC government ..... same MO.... pete never changes.... B
Let’s not lose sight of the fact that there is a contract that has been signed by both parties and now just needs ratifying by the government, a standard process apparently.
Currently drifting aimlessly in to ambiguity territory.
Agreed Foxy, Very frustrating.... Pete seems to always sign contracts that are conditional on something else happing before the contract becomes live.... He repeatedly does the same trick..... announce big news.... gets a spike.... makes a raise... goes quiet.... all under the umbrella of "its all ok"..... well Pete, its not ok.... and the market definitely doesn't think its ok ..... I do not think Friday can go by without an update on DRC.......B
‘Lions share’ turns into $2ish dollars and no contract. I’m still convinced there’s a link with those developments.
I think they’d be obliged to report ratification if it’s happened - so it hasn’t happened yet, let alone within PF’s own anticipated “days or weeks”
I think they’d be mad to commit significant expenditure without a contract - else all leverage is lost and the conditional contract is meaningless.
Let’s hope they get one over the line without the customary ambiguity that the market so detests.
Ian - I agree I think the market is waiting for ratification. Like AIMing I'm not worried about it. It's like Tema they are getting on with it whilst waiting for the formalities unlike Iran and the Dec '18 African contract (which I think is still a possibility -eventually!) where they didn't do anything post signing.
I think in many ways it would be better to get these new MSCs up and running before another MSC lands unless they can fund it without a share issue. The new banking facilities may certainly help with that particularly if it helps arrange UK export finance facilities. I suspect AIMing is right about KSA being 2022, but BF seems to be moving at pace so that could potentially arrive later this year.
Dodger , DRC has a superb NPV. Multiples of the current Mkt Cap. I think anyone getting in around these levels is going to do very well.
Aiming agree with that. Markets waiting for that ratification. According to PF its a formality (as per AGM and also more recent email) saying same ) but with there being a history of a signed contract that came to nothing (Iran) the market is (perhaps??)rightly sceptical.
African governments are not renowned for speed. Assuming all proceeds as expected then i can see a minimum 200- 300% rise here at some point over the next 6 -12months.
Arden are giving same message that ratification is a formality but they are not independent so the Market wants to see it imo.
Nothing is priced in at all at this mcap. I’m over weight in here as bought a chunk at 6p pre placing and then bought double the amount again at 4p area. I’m still sorely tempted to add at this price as it could be easy money.
Risk reward looks better than ever but always some risk in aim shares..
DrM: yes, i think the DRC is truly game changing, the market is yet to be convinced. i'm hoping that's partly because of the lack of announcement over ratification (i'm not concerned), but it could well just be mistrust of the company after years of under performance.
I just wonder if another MSC could kick start the SP before DRC money starts to really flow in 2022.....but then again, there will be (reasonable) concern that they'll start printing shares like mad again.
I do think that once this moves it really will fly....until then i can take the opportunities to add at these levels.