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It is approaching 2 weeks since the announcement in respect of fundraising.
If we assume that they had done their preparations in a diligent manner and knowing the existing critical situation in financial markets why oh why has this delay in issuing a RNS concerning the RI happened?
The fear as a result of the Saudi/Russian mess is that the POO at current levels will result in less investment by oil companies in maintaining/developing their assets.
WG is still very much looked on by the market as an oilfield services co.
There is still a large debt figure in the accounts and as the management have stated they expect only a moderate improvement in their business for 2020.
All that and the unrelenting short selling make for a bad state of affairs.
Who knows what will happen in the future but for now the market is brutal with any perceived weakness.
I am keeping my head down in the hope of better days but will continue to hold this share.
The history of this company in particular does not lead one to believe buy backs are of any real value.
When the SP as it will gets past £3 I will be taking my leave. Management here has not been great IMHO.
Just reread this.
Tone was upbeat notwithstanding the arbitration setback on the road in Wales.
This fundraising has come as a bolt out of the blue. Kitchen Sink comes to mind.
Too many errors in the last couple of years which I for one thought was behind them.
Going forward the business is clearly there. The huge question is can this MD and his team turn turnover into profit!!!
They have plenty of contracts on hand. HS2 is important but any delay inevitably will be seen by the market negatively.
Bit of selling today on no real volume .Let us wait and see. Tomorrow could be interesting.
I would bet against you !!!!
off its low. Holding up well
If we are to take the LSE chart at face value then there has been a rise in shorting.
Clearly some are not convinced about the immediate/intermediate prospects here.
Being a holder nearer £5 I must hope for better news in 2020.
Nice rise today. They have enough business to be getting on with irrespective of HS2. So not overly concerned as long as the contract errors of the past are not repeated.
I think the debt reduction before the nuclear business is completed took me a bit by surprise. Still heading in the right direction.
The short positions were not closed the last time the sp touched £4. I think they will reduce once the competition authority signs off on the sale to Jacobs.
New business seems very slow and is a concern going forward. Still I shall hold to hopefully get back to £5.
Mondi and Smurfit also dropped yesterday. Market is not sure of packaging industry prospects when we continually hear about recession noise.
People are trading this in a range of 320 -360 for some time now. I have heard nor read anything to be concerned about in respect of this company's operations. Patience !!!!
Thought there was some reduction here ,but looking at it again it does not really appear to be the case.
Would feel a little better if we hear about new contract gains/nuclear sell off progress in order to reduce debt mountain.
I am unsure about your observations. I do agree that right now this is not making a lot of sense to me unless some shorters have been burned.
It would be a fairly protracted dead cat bounce but I am no expert.
If they conclude the sale of their nuclear business their debt position will undoubtedly improve.
A possible SP of £2 is on the face a very dire call. I do not think as far as I know this is likely. Who really knows!!!!