Member Info for Cocobeans

Makes me laugh this personal grudge

who else am i suppose to blame for company failings? the tea lady? its the board that didnt deliver previosuly as they were out their depth

MW took a job for a boys club, placed money with his mates, hired 3rd party "friendly" mate, tried to do deals with mates companies and spent his life going nowhere, now he left, look how the market is reacting

ie its proven me right and others wrong

now if NT goes, and Scott just resigns, you will see larger upside

BTW i did say buy at 0.2 and sell at 0.32 but thats in my history for you to see

Anyone could have done what they did, it wasnt mining specific, its was corporate stuff, they laced the company with dilution, loaded free options and paid themselves in cash, increased salaries and paid themselves via consultants

so i disagree that they are the reason for anything, mike left when the price was at the same price as he arrived and they diluted shareholders hugely

overpromised on everything and delivered very little

now that ECR have a few mining people in, they might actually make OPERATIONAL PROCESS, BUT NT needs to go, he isnt a mining expert and add no weight to this race

this was a boys club, Mike just ramps it now and earns consultancy fees for doing so, which well if you look at it, he has played an absolute blinder and as i said many times over the last 18 mnths, can simply now sell when he wants and reap the rewards of actual experts

Are finally realising that they werent up for the job- i highlighted this serval times over last 18 months

now they need scott and nick to bugger off, as they bring nothing to the table and then you have a mining compny

issue is with other clinging on in consultancy and half salaries being paid, money will need to be raised in Q4 as they wont let coffers dry into Q1

however, thats not a now convo

they need to realise they have WASTED this year trying to ramp ideas, tax losses, cad assets, BTC, now get the right people in, kill all the joke ramping on nothing like HELIUM junk and mates deals and MAYBE ECR could deliver some returns for the die hardys

BUT nick and the wasted scott need to move on in aswell

Without a mining licence - and under the small prodcution licence its brings in less than $500k which has to be sunk back into the project

stop pumping $17m- they are no where near that and is years away

company said early stage production and now its ramping drilling results- either or doesnt really matter- they need a big liquidity event or try raising £1m with rampers involved

Sepetmber and still no production

think that is all that really matters as getting to December and the coffers will start to be chinging

Exactly what i said- place at low, sell at mid

easy money

expect to see these daily prints as shard just turn out a few % on their no risk trade

SWC dont care about dilution, which in turns means they dont really care about retail investors

offering a unregulated chance to hold BTC in an ISA isnt really that compelling when your just getting dilutted to zero

Just keep selling at mid or above on the day at 20% of volume, issue the shares slightly above BID at end of day

rinse and repeat

easiest trade shard will every make!

Webley has executed very badly on ALL financing

Shares were traded yesterday or 7% of the entire company

alot of money would have exited on that hence the 40% drop

expect the funds that want out to be out shortly and poss funds that see the lowside trade to step in

either way direction will be found this time next week

longer term, as long as nothing else comes out (hard to see given the company has made clear rthis is US specific and isolated) then magnet back to 900-1000 plus 5% divi

This is nowhere near Wood issues BTW. And I’m a holder of that bag! Wood has severe issues for years, and a ton of debt that it cannot afford

Well it is the misplaced £30m that triggers a £550m loss of value as without that, share price would have been 1000p

As the city was thinking £140-150m profits it wouldn’t have dropped 42% on a miss of 10-20m not including the £30m.

Maybe 10% drop at worse

Confidence in management is one thing,

This extreme drop is driven by funds exiting based on news. They won’t care what price, they just algo

Dump.

Once that turns, this will

Turn

Was a £350m fraud case

This is £30m where they have booked profits from rebates from suppliers too early

Let’s not overcomplicate this, accounting have messed up big time BUT this is US accounting practice specific

Has no impact on other areas of the business and is in isolation

US was always a small part of the UK

Company in past now bigger but some of the extreme

Outcomes being posted is a little sensationalist

Surprises nobody has said someone will be in prison for this

It’s a poor poor error by this company but isn’t a &550m

Error and the company has been on a turnaround

5% divi- forward P/E of 6 and recently had a £50m share buy back, reducing debt by sale of non core assets too

Over corrected today , dorwsng mean won’t go lower but this isn’t a busted flush

Overstated or counted in wrong financial year?

It was picked up when doing the latest accounts, they would have revisited the whole process internally and then sent these to the auditor.

try not to get to expansive on what the truth is at this point.

maybe they also missed £50m worth of profits if we want to paint a silly upside picture

facts are as we know them - they booked £30m too early, which will need to be reflected in NEXT YEARS account (it not lost revenue) and this years they have adjust profits to £110m vs £780m mcap

Auditor will run their eyes over what Whsmith have done internally, and report back to the company on any massive findings, but given that they have alrerady identified this as an isolated issue having revisited the books internally, i dont think they are going to then try hide anything further to take a second hit

REASON why this has been smashed, is

1- market hates numbers not being reported

2- auditors mean people start pushing " well what else have they missed" this is a PLC they have to protect shareholders

3- FUNDS will just sell at any price when drops happen like this

4-leverage day traders stops get taken and the drops keep coming

5- day traders that cant get out on day then sell for a loss

fully expect a recover to at least 800p but that could be next week or next month etc

inbestween whilst this trades £40m in a day- people with £5k positions arent really affecting the direction of where this goes NOR will positive or negative posts- this isnt AIM

Thats my reading- just moving the £30m from one box to the next!

lost £550m in value because of it!

In simple terms they booked £30m too early, so in theory in the next financial year they need to rebook this £30m

this was picked up when doing THIS YEARS returns, so its very much a THIS year mistake, not bleeding to the past or future

the auditor appointment is standard practice to tell the market they are doing all they can to ensure nothing else been missed, but based on info it feels like this is a one off issue that will be rectified already!

The group discovered the mistake, which related to its North American business, while preparing its year-end results. The stationery to sweets retailer said it was “largely” because it had logged some of its income too early.

https://www.theguardian.com/business/2025/aug/21/wh-smith-cuts-profit-forecasts-after-30m-accounting-error

Is punishing incompetence but the £30m issue has caused a moment of distrust with the city and funds will exit

HOWEVER, that in itself will simply provide an opportunity for those willing to hold

on the basis that nothing else is hiding in the cupboard, this is now providing a compelling entry for value hunters

always always funds will just fire sell regardless of price in these moments, others will now come on board

few days of rotation of capital structure, then lets see- could be 580 could be 750

How when they already state profits will be around £110m and the mcap at todays price is less than £800m

Now 7 with 5% divi for long term investors

anyone know if they concluded their share buy back or still had more to go? they originally was buying £50m

Not great news but isnt going to take WhSmiths down

they have cash, a debt facility and make £110m net profit a year, this isnt some loss making business and consumers will have to keep buying from them

Wood group etc were highgly leveraged, and dripping in debt and losing money! slightly different plus they then had loads of internal scandals

things will settle here, market always over corrects and its at that pointt- finding support on chart back from 2011!!!

yes could be some short term craziness in price but this isnt a lights out announcement and any PLC after annoucing an overstatement HAVE to then get it investigatetd