Member Info for hereandnow

I've sold out for now but will be back hopefully, it's been a nice run. Like the assets, though a trifle stranded, management are fab and the Nigeria deal looks sweet. Only sold as I suspect the SP may hover for a while. Good luck to the 'retainers', hope I don't miss out on the big gains that will happen one day here.

I went to the presentation last week, had several long chats with management. They had some shiny new PR people there as well who are on a modest retainer with good bonuses for SP/MC growth.
Founder share holder dumped stock on market in the summer hence SP collapse . They were bough up and recycled, all gone. £2.5million MC now with £2 million in cash. 300 new customers in August, 320 in September. Margins on own sales 30%, 10% on re sellers. Multiple large contracts being negotiated, expect strong news flow the next three months. The large contract they won a while ago could well get bigger. I have bought some chunks today 15% below the recent placing price.

What is interesting to note is their pages on Namibia/Africa. And their timeline chart. They could still be drilling Namibia PEL 030 next year...we shall see.

North and Irish Sea difference. Because of jurisdiction and Brent prices 2C/2P gets $9 per bbl

When oil was $100 per bbl 2p resources were being sold at $10-15 per bbl.

Both Mirabaud and Hannam are paid for research yet even so the case for LOGP being grossly undervalued is compelling

Do you remember last year and the first few months of 2018 waiting for them to finalise the contract well, I think we are in the same place again. It seems all the problems that the USA have caused have more or less been resolved BUT that has meant that the signed contract has to be altered to reflect new payment routes/systems, different kit and a new time table on roll out. All this needs to be agreed by all the Iranian parties involved, lawyered and signed off. Here is the relevant paragraph,

'We have been working closely with our Iranian client on addressing all these issues and are currently preparing an addendum to the contract covering proposed changes in equipment, order of the rollout programme and the financial and payment structures. Both parties remain committed to the project and are eager to exchange board letters to commence the project at the earliest opportunity.'

I think this will get sorted by the end of the year.

Another indicator was the last paragraph on financing and the timescale indicated,

'We raised £0.8m of new equity in January and a further £0.7m raised since June 2018 including $250k from convertible redeemable unsecured loan notes carrying a 5% coupon from a strategic investor. These funds provide financing for the pre-contract costs of the Iranian project and for the other contracts we are working on. Plans are in place to raise further funds to support the Iranian contract and the other expected new Managed Services airport contract and we expect to complete this exercise in Q4.'

WSG are assuming the worst and putting in place all the tools they need to fulfil the contract. The SPV will make things easier but there are other ways and means if needed.

Third attempt to break through 2.5p on the way

Looks like that 4 million sell from the other day has been cleared out. Unless there is another similar trade lurking we are back to there being no stock being available and tick ups and down on low volume with a load of Its thrown in.

Fundamentally way way way undervalued

It was clearly a late reported sell, hence the SP did not tick up a couple of notches today as buys out weighed sells by about 2.5 million. Another day and it will be cleared out, no problem, there will be lots of moments like that over the next 6 months as this re-rates.

Nice big worked sell at the death, no wonder we did not tick up earlier and a good buy after hours.

Tick tock

No idea tbh.

Back in the spring we touched 30pish on hope and hype pre contract. People were hoping for it to go above a £1 on contract confirmation.

There has to be an 'Iran discount'

The devil will be in the detail re. contract, finance package, ramp up time etc. There is a second contract for $2.5million for kit I believe. This is only phase 1 of what was originally a £35million contract which got even bigger and too complicated and cumbersome to implement. There are another 60 odd airports, they all need updating. I believe the training centre they will build will become a base for training airport security people from multiple airports across the country. Phases 2/3/4/5 will roll out in good time. WSG's loyalty to Iran and the contract will not go unnoticed. (Did anyone notice the trade delegation that was just in Iran included Lamont?).

So I think when the letters are exchanged and the contract is launched we will end up in the 25-50p range. From here it will steadily move up as milestones are achieved, first revenues gained, the actual revenues are revealed, the terms of the financing etc. There will be a lot of speculation re phase 2/3/4/5 so this will push things along.

We are also due another MSC this year...

and I believe the tech division could land another biggie aka the $4.5million contract from earlier in the year. This new boss looks to be producing result after result.

WSG business does not fall under sanctions. It never did or has done and it won't under the new US sanctions.

It is the problems of carrying out business that is the problem. Everyone is scared of the yanks so they need banking, finance, supply and insurance in place before the exchange of letters. They have made good progress in all these areas.

Final tweeks to the contract are being sorted out now. Obviously some suppliers have dropped out and changes have been made, these need to be agreed. Not long now.

BIG picture-SPV will be in place, ICJ ruled against USA, Iran complying with FATF, the world united to keep JCPOA in place
WSG- German subsidiary, everything to get routed via them. Banking, finance, insurance etc. new suppliers, weeks to contract

'Board committed to exchange contract letters asap' 'finance to announced in Q4'

quack quack

Yesterday afternoon indicated a move up today, heading for next level it seems

It was all v interesting and v positive re saving the JCPOA, the SPV will work, all good for SMEs'

quack quack

are doing a lot this morning on Iran/JCPOA/USA/European new payment system.

Interview with Zarif (FM) at 8.10 am this morning

I think we are primed for the next wave

Just do the maths

LOGP unrisked NAV is $325million. Risked is $208million

Our current MC is $17million

so 19 bagger unrisked (38p), 12 bagger risked (24p)

What a disconnect, 6 years of problems and being unloved, now the value disconnect is bonkers. When will the market catch up?

https://researchmirabaud.mdcie.co.uk/MIRABAUD_TD_TRACK/external/download?q=18f57a4a21d3a995fd00ef8d7b565678cd4cc4da3vHHdcKQ3D4A9LXuif%2FuG4Fm4Xnq6JIyaWLYDbwZ%2FMys9f8ORtcUFgdIwFXLGLz3YTsfckL%2FRHapywNTXI7QdNM2%2BfJHZeC%2Fm5bKP74CmgSgxdHgwBqj75Nri6mEVrnJSXA5LA7mTb%2BaQ7YKkeCGWKhwHEBu4kjcEDuv04JfCqwWkkvks%2BuSJp23HwbgSiQ4pA1KhYSLIyTEjpxXf7yUcsg%3D%3D

Ned, they can't cave in otherwise they have effectively given up sovereignty. It has gone way beyond Iran/JCPOA/sanctions.

All about principal and the rights of independent states to make business with who they please.

Iran contract, Iran second contract, at least one other MSC, Major financing news including significant Director investment. Some more small tech contracts and perhaps one of those large ones which are lurking about in the background, apart from that, nothing really!