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“A formality” in “days or weeks” is four months overdue.
This DRC opportunity, boots or not, looks like heading the same way at the last African lost cause. If it’s different, explain away. Silence on the last one, silence on this.
The next TU will be an interesting read. Contract, no. Targets no. Meaningful explanation, no.
Has Liberia started?? Or is it two MSC’s in cryo’
If there was a perfectly reasonable explanation for the delay in ratification, then surely our illustrious leaders, of reliance, integrity, quality and trust, in G&T’s eyes at least, would have updated it’s valued shareholders, at the end of September, when WSG’s previous timescales weren’t met.
As of old, the SP slips, Pete bunkers down, silence prevails.
There is evidently no appetite for shares at this level from buyers, mm’s or twitterati - who’ll simultaneously tell you that they are ridiculously cheap…
I think a fair few folk are starting to take that position (walking away) now that Pete’s published contract provisions look to have gone out the widow.
Still, an RNS next week would go down nicely.
‘Nothing in October and the SP will be down nicely.
The Airport Authority contract was reported to us immediately - then Pete needed ratification in a fortnight - which with 90 days to prep took him to the last days of sept’. Given his experience in Africa thus far - a Government responding to something this significant in a fortnight was naive bordering ridiculous.
If I’ve got that right, usual correction welcome caveats apply, it’s only taken seven times longer than anticipated.
I suspect you flatter.
I stand to be corrected, but I’m not aware that we’ve been told WHEN the contract with the Airport Authority was signed.
WSG gleefully announced the Queen’s Award on 29th of April. On the grounds that they’ve done nothing else to warrant this - I speculate that DRC was signed and ratification began before that. As you suggest, I sure Pete wanted ratification done before the AGM. ‘Didn’t happen.
I accept that my theory falls on the 90 day/Sept start. But I haven’t seen the contract. IF the contract was actually announced punctually, then it follows that the Queens award came BEFORE the contract it (presumably) celebrates.
All speculation. What undeniable is that this DRC project bears all the hallmark of fluffed projects from the past.
Iran took years to reach a point where it was signed, conveniently subject to exchange of board letters and within hours, Trump scuppered it. What are the chances?
Of course, if Pete had exercised the same “a few months here or there” policy, and just waited to close it properly, we’ve never learned that it was semi-signed.
When was the deadline for the CULN’s to be repaid??
What was the date for the AGM?
When were the two ‘contracts’ get announced?
Coincidence?
Have either started?
The DRC is a ‘conditional’ contract the terms of which (90 days and Sept start) have been completely disregarded by the Government. The program set out is three months overdue. Quite why PF is spending money pre-ratification is beyond me. I don’t see this as any more likely to close than his last semi-signed African folly that still awaits (in silence) re-organisation. That’s nearing two years ago, I believe.
I think in light of what was set out in previous RNS’s, PF needs to explain the (“days or weeks”) disparity between his previous assertion and the failure (by whatever party)to adhere to those.
More excellent BoD support at refreshing premium against close. Lokies POC trundles on at Corp’ speed. No surprises there.
That premium suggests that it’s going well, or another project is close to materialising.
Q4 now though and nothing RNS worthy from those pre Covid legacy projects that were ‘on the table’ and going to bring a great year for the company.
Ongoing ‘Corp speed’ anticipated.
They, deserve more respect. They virtually everyone here currently) are sitting on varying losses. The most patient/committed/locked/genuine LTH are the biggest losers. They are the same as you. They believed Fowler.
They lost money - because he failed to deliver, annually.
Your wisdom in hindsight is smug bordering disrespectful.
There are some here, probably, who wouldn’t feel compelled to applaud Pete if this hit 75p.
There are those, if not lying through their teeth, that need 20p to 30p just get their money back on historic purchases, that they, like you at your entry, once confidently made.
Pete’s various nicknames are borne of nearly a decade of slaughtering shareholder value, through failure and dilution. Hence the contempt that often surfaces and the markets evident, ongoing disbelief.
…and until such time as he signs something significant, without a subsequent dump of more cheap stock which’ll simply curb a rise and the ‘traders’ that he so loathes, it’s not a loop - it’s a continuum.
PS
The smart money is those still unconvinced that this is near term or bottomed - and ALL of those currently on board (aside from 4p placees) aren’t smart. And despite PF’s assurances Mr & Mrs Smart aren’t interested in buying at c5p.
Pete’s been frustrated in Africa for nearly 10 years. You’re right we all know the bureaucracy is a nightmare.
You’d hope that our “glorious leader” (not my words) with his experience of same, and being the guy front and centre, with presumably the additional guidance from the DRC’s AA , would finally, having agreed the contract with them, have a grip on timescale. As Arab says - it’s his job!! Has he leant nothing since Lungi was gifted??
You’ve been wrong since (at least) 2016.
Pete hasn’t delivered his first proper airport deal for 9.5 years - and so the sceptics are still justified and far more realistic than you’ve managed to be in that time.
Pete’s can kicking/failure/disappointment is why he continues to attract criticism and the market is wholly unconvinced of his, or Human’s output.
What he says and what transpires are invariably at odds.
Which is why folk have been walking away all month. Pete’s published appraisal of the timescales and conditions set out in ‘contract’ he signed has been woefully inaccurate.
EVERY component has been missed or simply disregarded by the DRC if you don’t wake up on Monday or Tuesday (allowing for RNS submission) to find that ratification and op’s occurred simultaneously. Africa’s modus’ is NOT responsible for Pete’s judgement.
At least lowering your average has been a doddle in recent years, to get those 30p babies purchased and unswervingly held, down.
Thus far the only thing that you are right on is that there will be an exodus on ratification. That’ll be refreshing for you on several levels.
In the meantime what Pete says is evidently dismissed by the wider market, period.
Yep. I think we both have the same definition of nails, ie commitment/some certainty. Mast - hitting said objective.
I see no reason why, having re-affirmed several times that 21 rev’s would be hit, that he should be excused when there not - or the basis that it will all hopefully materialise in 22.
DRC was supposed to be “near term” in ‘20 wasn’t it - when Pete first started getting chatty/fund raising.