Member Info for andysand

The very low levels of intelligence among those that are talking wishbone down should be of some comfort to holders. Once you realise how ignorant they are, (and they demonstrate it so well themselves), you can see how empty their inane postings really are.

Sold any what? Gold? You can always sell gold! It’s not a question of selling it, it’s a question of getting it surely.

Sorry about the crappy formatting on my previous post. Anyway, the directors dealing link is right here on this page so you can look for yourself.

The directors dealings are also an important consideration. Particularly when it’s the finance director. I learned that one years ago from Jim Slater. Finance directors have a particularly good insight as to where things are going. All these things together make this an interesting bet.

18-Oct-18 Buy Trade Notifier Information for Wishbone Gold Richard Poulden 0.11 GBX 156,301,312 584993089
18-Oct-18 Buy Trade Notifier Information for Wishbone Gold Michael Raymond Mainelli 0.11 GBX 16,098,409 31190192
The directors dealings are also an important consideration. Particularly when it’s the finance director. I learned that one years ago from Jim Slater. Finance directors have a particularly good insight as to where things are going.

18-Oct-18 Buy Trade Notifier Information for Wishbone Gold Jonathan Charles Harrison 0.11 GBX 19,924,582 43000782
18-Oct-18 Buy Trade Notifier Information for Wishbone GoldAlan David Gravett held the position of Non-Executive Director at Wishbone Gold at the time of this trade. Alan David Gravett 0.11 GBX 19,886,236 31082957

IF this research note is even close, this would be a 15 bagger. That’s a really big if. But it’s worth holding some for sure as the potential gains are so spectacular.

Our valuation for Wishbone is thus £31.46 million, which equates to 1.47p based on the number of shares currently in issue (2,144,831,466). Our target price however has been calculated on a fully diluted basis (2,647,913,609 shares) dividing the valuation by the sum of the total number of shares and warrants expected to be in issue by the year-end, plus the 240 million shares that will result from the payment of the deferred consideration for PMI and Black Sands. On a fully diluted basis this results in a per share valuation of 1.19p.
https://www.rns-pdf.londonstockexchange.com/rns/7326H_1-2018-11-19.pdf

“As the gold trading business is being ramped up and the off-take contracts begin to bear fruit, we expect there should be good news flow over the next eighteen months. Each and every deal in supplying mining equipment brings a long-term off-take agreement, providing a guaranteed additional supply of gold at an attractive discount to the current gold price. This has the potential to create a growing, highly visible stream of earnings for the company stretching well into the future.
In this way, each of these deals will add value as the strategy is rolled out in a number of countries. We have refined our model based on the improved understanding we have gained over the past twelve months concerning the capital and operating costs as well as the likely levels of production. What has become apparent over this period is management’s desire to become involved in larger scheme involving a setting up a central gold refining facility that is fed by a series of satellite mills. This looks like an exciting development however, at this stage, we have modelled a growing operation that looks more achievable by Wishbone as it stands today. We look forward to revisiting our valuation once more detailed plans become put in place.
For a further element of conservatism in our forecasts and as the company rehabilitates itself with investors after a difficult 2018, we update our coverage of Wishbone Gold with a renewed Conviction Buy stance and price target based on 8 times 2020 profits (0.0736p per share – based on a GBP/USD FX rate of 1.29) giving a first price target of 0.589p. The DCF value of 1.19p gives investors an idea of the medium-term upside potential as the company’s strategy gains traction.

Next is a great company. They have had hurdles before now and always end up leaping them and the share price will react accordingly. This is a bargain.

It might be worth a small punt. No more than £500 I would suggest though. If figures are correct and honest, then a 2000% gain is possible. If not....hmm.

This is just speculation. Are we about to be called Freenome? "Freenome Ltd., a technology company, develops a platform that detects the cell-free DNA sequencing of cancer. Its platform detects mutations, copy number variations, and translocations that allow diagnosing various types of cancer and the treatment course based on the complete genetic composition of the whole tumor. The company was incorporated in 2015 and is based in London, United Kingdom."

I think this is toast. There is only one sensible thing to do: sell. Even if you only get back fifty quid, at least you could have a nice meal out with it! The game is over and the fat lady is waiting in the wings.

I think that's a very wise decision. Good luck in the future.

Well, this is certainly all very odd. I am watching with fascination at people buying and selling these. I honestly don't have a clue what will happen in 2 weeks.

It's interesting that there still seems to be some life in this. I think I will wait though until there is an RNS before considering coming back in. The spread is large and there isn't long to wait before we know some hard facts. Good luck to those still holding.

Yep. Agreed. I don't know either! Answers coming....

Oh, one more mystery. If this had been my company, and the shares were trading on a p/e of 0.5, I would have borrowed as much as I could, and then I would have used it for gearing on a spread bet knowing that I would make millions. That's if I believed my own accounts. Why did they not do this? I asked Raphael why he wasn't buying shares. He didn't answer this question.

Correction ".....new nomad would have been hired......"

Well, it could triple if they find a nomad. Actually, more would than could. As far as calling the company goes, I have been in touch with Raphael several times. But he is not going to say anything which constitutes inside info. Not only that, he didn't answer some questions I put to him about receivables and cash flow, and why he wasn't buying shares, and about why he wasn't making an effort to calm the market and help raise the share price. All of these things concerned me enough to sell. I was also extremely concerned at the poor website which appears and disappears. It also doesn't appear to have much news on it after 2014 (this is the Chinese website). I must have spent hours trawling Google to find mentions of their products under the brand names they give on the website. Unfortunately, this is a very hard search without speaking Chinese as I am imagine the brand name would most likely be in Chinese! Research is extremely difficult on this company and other Chinese companies. Why did the chairman resign? We don't know. Why did the nomad resign? We don't know. But if what you were told was true, then surely a new nomad would have been hard almost instantly as they profess to have done the financial deal already? Too many mysteries that are impossible to get to the bottom of. This all leads me to not want to be involved as it is like running through fog. Before your post about a cheaper nomad being found, I had it down as a total wipeout that should be sold at any price. It is only your post that makes me think there could be some hope. But I don't hope enough to buy it. For that I would have to see some signs of insider dealing which I am sure would happen with this share!

I wish I could say something useful. If I were still in, I would probably sell if it was more than a thousand pounds. But it is a tough call for sure. If they did find a new nomad, of course the share price would triple in an instant. So that makes the reward like a 3 to 1 bet. At least on a short term basis. On the other hand, the share price could even go up by 10 times as presumably, a new nomad would be a stamp of approval for the credentials of the company. But that has to be weighed against a total wipeout. Which would feel worse? Losing everything, or missing out on a large gain? Maybe choose the option that would hurt the least?

Well done for considering the possibility that bulletin boards can't be trusted. I was trying to gently suggest this possibility in a previous post without looking like a troll.

Very tiny volume really. But more importantly, NOMAD. Market makers won't want a position in this stock until they know it will remain listed. So they don't want you selling to them. That would discourage them from raising the price unless there was huge buying and they became short. They are playing a waiting game along with everybody else.

I was thinking the same thing. I had a look through the nomads for AIM and there a lot. Even one in Australia. I will be watching like a hawk as it could get interesting. Or not. The sad truth is that nothing posted on a share board can be trusted or acted upon as we have to assume that every poster has their own agenda. I am not saying that every poster seeks to deceive, but many do just that. So I will have to wait for an RNS before taking any action. All very interesting...