Member Info for HawaiifiveO

Link to presentation

https://www.proactiveinvestors.co.uk/upload/SponsorFile/File/2019_03/1553258847_4---Widecells.pdf

I thought I would report back thoughts on WDC having attended the Proactive event on Thursday - I have never (thankfully) invested in Widecells but saw the former CEO promise great things at various presentations in 2017 and 2018 - the rest is history.

I was aware that WDC had a death spiral funding facility and are currently issuing shares like confetti as part of a deal propagated by old management, I knew they were changing business and their name to Iconic Labs PLC although I had little idea what exactly what their proposition was.

So here are my thoughts - at the very start of the presentation David Sefton outlined the failings of past management and said that without the current funding situation WDC would have gone bust. He talked openly about how the death spiral financiers need to change their way of doing business, he added that the company would be meeting ABO (the financiers) about the situation. Make of that what you will.

It is clear the young guys who intend to deliver the new media business have talent, they founded their historic company with £200 and took it to a £10m turnover but then lost that business through naivety, the sort of issues that a Dragon would spot in seconds if you know the TV series Dragons Den.

They suggested that they have access to all of the blue chip companies of their past business and a strong contact book - the presentation suggested the aim was to be cash flow positive within 12 months, a 1st year number of £800k was in the booklet provided at the meeting.

I was very fortunate to chat with John Quinlan (new CEO) during networking - I was impressed, my view is they are going to 'do something' about the funding - clearly Sefton and Quinlan are not happy about it, I further gleaned that the Newco would not be throwing money at the old Widecells business.

On the basis of the honesty of the presentation, the possibility that there may be a material change in the funding (death spiral) situation shortly I took a position on Friday.

Making money on AIM is all about entry point and timing of a cycle, the investment proposition looks pretty good at current levels IMO.

The tide is slowly turning here - attendees of the recent shareholder evening will know why, from current levels AST represents a excellent investment proposition.

DYOR etc

Trans Siberian Gold (TSG)
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Fundamental Data
Name Trans Sib Sector MINING
Mkt.Sector AMQ1 Mkt.Segment ASQ1 Turnover 32.17 Profit 2.25
Norm EPS 1.70 PE Ratio 27.51 Market cap 51.58 NMS -
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20/02/2019 07:01 UKREG Trans-Siberian Gold PLC Change of Adviser

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thecoyone24 Feb '19 - 12:57 - 421 of 443
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Smaller buyers were coming for this all of last week, it has consolidated nicely from the move from 35p to 45p but now looks ready to go far higher.

With gold above $1300, it is a nigh certainty that they will declare another Special Dividend meaning the yield will be 13% - it could even be more if they increase the interim and final dividends also.

For yield and growth there cannot be a better GOLD play on AIM

This could easily go through £1 (£110m m/cap) and still be cheap based on that yield.
broken_arrow124 Feb '19 - 15:30 - 422 of 443
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The fact this is below radar makes it even better - took some more on Friday - posted this a few weeks ago, same applies now except gold is higher.

I see this as a £1+ share, a market cap of £100m (now £49m) is entirely justified based on a number of metrics.

What is there not to like........

Record production of 42,000 oz
Increasingly higher grades (9 g/t)
Low cost - $600oz
Progressive dividend policy
Currently yields 13%
86% of shares tightly held
Highly cash generative

Impossible to buy in any size, 86% tightly held, can see a major move coming.
space_dust24 Feb '19 - 17:18 - 423 of 443
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Good research here, will be adding tomorrow.

A great gold play this - few know about it !
rolo724 Feb '19 - 18:40 - 424 of 443
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I wonder what the cost saving is due to the new electricity deal announced before Xmas?!
space_dust24 Feb '19 - 21:10 - 425 of 443
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86.4% of this company is tightly held - hardly any free float

Holder Total Beneficial Holding

UFG Private Equity Fund I, L.P. 28.1%
UFG Special Situations Fund L.P 21.0%
Destin Investment Management Ltd 13.9%
UFG Investment Company I Limited 9.7%
UFG Investors Limited 5.5%
Florian Fenner 3.1%
Petrovka GmbH 1.6%
Vadim Ognestsikov 1.2%
UFG Russia Select Master Ltd 1.1%
Robert Sasson 0.6%
Adrian Parkinson 0.4%
Total 86.4%
Observer00724 Feb '19 - 22:20 - 426 of 443 Edit
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Interest is building in TSG.
thecoyone25 Feb '19 - 06:45 - 427 of 443
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This has to be one of the most undervalued dividend paying companies on AIM, an es

Not sure if this has been posted before - recent Proactive interview

https://www.youtube.com/watch?time_continue=954&v=054GN1dQtHE

Here are my thoughts on the current situation.

I am encouraged by the statement that MTL are in advanced discussions with a new Nomad - it seems there should be an orderly change, some research on Nomad change suggest that where a company uses the wording 'advanced discussions' they usually secure another Nomad - most recent example was Vast Resources.

The fact that Cannacord have afforded 1 months notice also bodes well, if there had been 'issues' they would have resigned immediately.

I would suggest a new Nomad will be nailed on if debt re-structure is completed - the 31st March 'deadline' is fast approaching - for various reasons I believe some compromise will occur. I am sure Q1 gold production numbers may be part of discussions - has the company improved operationally under the new team, if the article in Share$rophets is to believed then I think the answer is yes.

Finally, and most interestingly, the market reaction since the Nomad RNS, no panic selling, in fact the market makers were happy to take large lines of stock on Friday - another clue.

So I remain optimistic based on a number of observations, these I believe are real - there is risk but it is minimal IMO, given the right run of news this could easily hit 2p+ in a flash, current price is option money.

I will be adding tomorrow.

DYOR etc

CE

With the greatest regret it looks like I will not be attending the UK Investor Show this year - there are no trains running directly to London on that weekend. I will however be attending the AGM which was held in June last year.

I was one of the investors that was in a quorum with Colin Bird last year - I think CE you were one of us - at the time Bird made many claims, including the now redundant statement about having a RNS that "the market would like" he made other suggestions concerning Manica and progress he expected throughout 2018.

I look forward to hearing the outcome of your discussions with Mr Bird, maybe we will be blessed with more news beforehand.

In respect of the alluvial income - this surely has to be ramping up, with two plants running, it should hopefully deliver more revenues to Xtract above the 12 month historic gold production of just over 6000 oz which was made under stress of early stage operational activity.

News is key to a re-rate which could be significant - it is all about numbers.

Re-iteration in the Slovenian media of what we already know - ARSO are wrong in their decision - all helps AST especially in respect of the legal route and pursuit of damages - maybe if media pressure continues ARSO will overturn their decision or some compromise made.

Notwithstanding the permits those attending the recent shareholder meeting will be aware of other events that could deliver unexpected upside & change in market sentiment towards the company.

What is clear, very clear, is that there are entities posting on bulletin boards intent on damaging the company, these 'voices' are obvious to established readers, as such are ignored.

The value proposition, from current levels, is very much to the upside IMO.

I have some thoughts on recent events - will post them tomorrow but I would love to hear the views of the larger holders who post here and have remained silent to date.

Yesterday they were bidding heavily for stock - few sellers appeared, does that tell a story, I think so !

Statement from CEO...

‘We consider Oriole to be massively undervalued with its current market cap close to cash in bank,’ he said. ‘We should be trading significantly higher than where we are today when one considers the money we have got in the bank, the fact we have IAMGOLD as a partner, the value being realised in our legacy assets, and the progress we are making as first movers in a new gold district in Cameroon. It just doesn’t make sense at all '

https://miningmaven.com/blog/790-oriole-resources-livesey-and-smeeton-talk-through-firm-s-robust-cash-balance-2019-plans-and-market-valuation-following-this-week-s-strong-full-year-results

Statement from CEO............

' Moving forward, we will continue to progress our efficient and cost-effective exploration programmes, and we are sure the market will eventually catch on. We have a free carry in Senegal, cash in the bank and a team delivering on exploration in Cameroon. It is a very exciting time for us and we look forward to updating investors over the coming months.’

https://miningmaven.com/blog/790-oriole-resources-livesey-and-smeeton-talk-through-firm-s-robust-cash-balance-2019-plans-and-market-valuation-following-this-week-s-strong-full-year-results

The other aspect concerning the Nomad is that the market value of the company may have fallen below Cannacord's requirement to act as broker/Nomad.

I have spoken to a number of advisers that have stated they require a company to be of scale - meaning a market value appropriate to their 'status'. It is clear Cannacord are considered to be one of the top houses in London and may now consider MTL fits outside their retained status as a company.

I feel sure we are reaching the end of the pain, the next 2 weeks will be integral and hopefully satisfactory for investors - the largest one have pumped in $35m into MTL and will want a retained listing.

The interesting aspect of today's news is that the Nomad has announced it's resignation at a time when it looks likely the company will secure its financial position - yet the Nomad was happy to stay on when the company was in a far worse situation.

This can go either way and risk has increased but the company has been a model of standards in reporting and corporate governance - looks straight as a dye - so why now?

I note the Nomad is also the company broker so has there been some conflict - perhaps Cannacord were ****ed off that they did not get the placing they had hoped for when the major shareholder decided to pull the rug under that idea.

The financial situation comes to a head at month end - if it is sorted then I feel pretty sure a replacement will be found - apart from the short term financial situation there are far far worse companies on AIM that retain a Nomad.

I am expecting very good Q1 numbers showing increased production and lower costs - they have secured a stunning electricity supply contract - only 7c kwh - that is one of the lowest costs in the world for supply.

This company is ticking all the boxes, further they are moving into a high grade environment also - they have a progressive dividend policy - have paid just over 6p a share in dividend in FY 2018.

Can see this re-rating - the market is already starved of stock, any demand and that 97p Cantor target could soon be met.

I am a little more optimistic than others about the share price - Bird has two public events coming up - the UKIS in late March and the AGM in June, he needs to deliver something material.

I have spoken to a few folk who invest in the junior mining space and their interest in XTR has grown because of the move into Zambia and copper - they consider it a shrewd move. Bird has made a mint there before so knows what is needed, he thinks he is onto a winner.

The alluvial income has to grow at Manica - we will soon find out.

The hard rock update could come at anytime, Bird knows shareholders demand news on Manica, what better than deliver before the 1st public event later this month.

There is a hell of a lot of bang for buck at Xtract given the tiny £3m m/cap.

Stay optimistic - markets are woeful currently, this will change at some point.

Pleased to see the fighting spirit, clearly outlines why the decision is wrong hence the subsequent appeal and references for damages - in excess of £50m.

New BOD, new attitude.

Anyone who attended the recent shareholder event will already know the focus of the company is to move away from the issue of permits. I expect to see a plethora of news in this regard in due course.

The recent news article is wholly biased - they seem to take delight in the thought the Imperial British company may lose it's right to extract gas by 2022 - who is writing these articles? They are wholly biased and totally incorrect.

In another feature, they talk about the major shareholder in AST being Hargreaves Lansdown - they then suggest they are owned by some Rothschild investor and imply more imperialism - of course we all know that the HL position is a nominee gathering of 100's of private investors shares - in other words do not believe what you read.

Had we had the same BOD as last year then I would be downbeat but we now have a high class O&G man on-board, that is very important - new ideas and new plans.

DYOR

One thing that is very clear from the media reports is that entities wishing to damage Ascent are reading AST bulletin boards - potentially even posting on them.

Many of the media articles refer to comments made via Twitter and more interestingly the AST bulletin boards, it is very rare, in my experience, for any serious media to relay comments made on such bulletin boards. Most of these boards are occupied by trolls (especially A@VFN) entities who are short and others who have no interest in AST.

Despite the news, following the recent shareholder meeting, AST have plans beyond these permits and now have a top O&G expert on the BOD - At the meeting he said he will stake his reputation on turning this company around. If it becomes clear AST can make no progress I believe they will go for damages, at the same time pursuing other options.

Let us see what comes out on Monday - as for Colin H deleting his Twitter account, probably a good idea.

Cannot buy on-line currently - I can see this returning to 1p awaiting news - if a new deal is done it should not involve massive dilution - that is the key to yesterday's news.

No wonder you they are reluctant to sell you stock at these levels.

The market has miss priced this on yesterdays news IMO.

I think a few people are no starting to understand what is happening - in a nutshell, there is no way the banks can get their money back unless they work with the company - they cannot seize the mine, we can thank the Philippine Government for that aspect.

Some for of adjustment will be made to the restructure terms - I am confident of that - I further expect this news to come sooner than later.