Member Info for Ilovesushi

All posts that mention ‘placing’s’ gets deleted for some odd reason.

Definitely looks like forward selling to me. 0.5 pence is my guess.

Any flow at all makes this venture de-risked. Drill baby drill. Nice to be in a friendly drilling country. Does not need huge flows really. Just lots of drills. They are cheap to drill, little risk and are little money earnings. The market cap is not accounting for income or our main asset Mako which on sale down, the income is and could be in excess of 10x market cap. This has to go higher. Much higher and in the multiples.

Time and time again, this happens. A company gets a listing in order to issues shares and raise cash. When it thinks it can no longer get cash it delists. Those who are part of company delisting essentially operate under different rules and gets control of the assets. Shares become impossible to trade and then they end up selling the assets to those in the know and make money. Shareholders get nothing. Now they all wonder why AIM is losing support? They list to get cash and when cash stops the delist. All shareholders wiped out.

Going lower and lower.

Has to as there is no business here. Crypto has to be sold to pay down costs and expenses. The company will need cash to close down the company and pay redundancies. This has to end in administration surely?

Sadira has all the power now and are inn the driving seat. WG managers are in a weaker position now. They no any no deal will send the share price south.

The take-over is more likely, and Sadria can now offer less with the chance of it being accepted is far greater today after yesterdays news.

Anyone buying now can make 100% return.

It’s going to get there as the company has no product. Its got some crypto and any profits will be eaten up by salaries and expenses.

After it falls to my 0.10 prediction as money gets closed to being exhausted its administration. Perhaps they can sell the listing?

“SHAM189”

Which bondholders are you referring to please? How many of them are there and how many bonds do they hold? Thanks

You can bet your bottom dollar the company will be asking you as a shareholder to vote in a special resolution to give authority to issue shares. It is already being planned. Wait for the GM and take note of the resolutions. Vote for it at your peril. You will be guaranteed to be wiped out. Every shareholder in this company has been wiped out. Now they will be wiped out again. Then if shareholder are stupid enough to vote for the company to issue more shares, this will come with a share reorganisation. This is where at least 99 of your shares for every 100 you hold will be cancelled. It could be worse. Perhaps more. Its possible for every million you have will then become 100 shares. When this happens every shareholder loses out again as the cross over never quite works. Those 0.001 never become 0.1. Perhaps it will be 1000/1?

Anyway before consolidation the old share price should be about 0.005 or even 0.0001. Damn wipe out no matter.

Sadira has an opportunity here. They will know more than we do today and have probably already accounted for the disclosed today.

By striking quickly they could take advantage of the nervousness. Best make a bid before the accounts are revealed as shareholders may take the money they offer rather than wait for the accounts and the provisions are revealed. Anything in the 80 pence range would look good and once announced it will cause a lot of change in ownership and many new buyers would accept such an offer as it would give 100% returns. Old long term institutional investors may take the money as it is double the present market cap, Its all to play for. Sadira knows many of the issues. The company is in a weak position and Sadira now have all the cards to make a low ball offer.

1/

How much is Horse Hill going to cost by plugging and abandoning and any remedial action?

2/

Why was shareholders never informed of winding down of Horse Hill?

If it does come out of administration and I am wrong it is only with a 10 - 20 billion share issue that will wipe you all out.

In suspension the auditor will reveal going concern issues. It is not a good business if it is dependant on getting government money. There is no actual business here. History of failure which can only end up in administration.

'I'm toping up all afternoon at these prices'.

Some people never learn. On the next placing they will be another 50% down. And that may not be the last placing and he could be down another 50% after that. Diluted to death and then buggered over again. Anyone putting money in here will lose the lot. Eventually shareholders will say no to more placings then its administration.

At best all one can hope for here is a share consolidation and share reorganisation. Expect large 10 billion - 20 billion share issue. This is where anyone remaining will be totally wiped out. This is also where if you own a million shares, suddenly suddenly become 1,000, or god forbid 100, or even 10 shares. Your not just diluted when a share reorganisation takes place your also buggered well and truly up the back end. There is a reason why management in these lifestyle company’s do not buy shares in their own company. They take the assets from the administrators from whats left of the ashes. AVOID. And for God sake do not vote for more share issues. Which ever way you look at it, you will be well and truly buggered.

It is NOT going to get it from the government. Horse Hill be the ultimate killer of this company with costs that come with abandoning a well.

Auditors will flag a going concern issues forcing the company into a massive placing. Share consolidation and share reorganisation is the best to look forward to.

Any money the company from the government will not keep this company from going under. It will probably never get out of suspension.

The company is basically going to go into Administration at some point. Then there could always be daft shareholders hanging on for future promises and will vote to dilute themselves to death.

Even with gold at $3100.00 this company cannot produce cheap enough to make this venture profitable. It costs more to mine that what it can sell for. Essentially there is not business here. Its going to ask for more money to try anyway. So another heavily discounted placing is being planned, anyone holding faces complete wiped out. Lets see if the management invests their own cash in the new shares that is almost certainly will hit the market.

0.005

Wiping out any shareholder remaining.

Almost doubled?

The deal is still one but Sadira will certainly get a better price. Shareholders should lower their expectations. The company has legacy issues and past accounts have to be adjusted. I do not think these issues will put off Sadira but they will want WG at a lower price.

Take-over more likely but no where near the inflated prices people have estimated over the last few weeks. I see at least one more extension and a deal made only after the accounts have been finalised. Sadira could actually also issue an offer price during suspension as that would be a good time to attack before people see the accounts made public. While shareholders are worried.

Deal far more likely today and not less likely. Just at lower levels. I will stick with my long term prediction of 85 pence. WG would do well to accept as the alternative is not good and mostly consist of a share issue of some kind at at lower levels. A weakened management cannot make big demands. They need to temper early ideas of an offer over £1.00.

Today the deal is more likely and looks like Sadira still want WG.

The company is very unlikely to get cash from the government and it will have no other chance of continuing to trade without another placing.

On coming out of suspension if it even does the mother of all placing will face you. 10 Billion more shares and a share consolidation. Of course you will all have to agree and vote on it. Best let the company go into administration where it has always belong.

Provisions also to be made on land reclamation in Gatwick could probably kill this and put the company into insolvency. Only Sanderson makes money form this company.

Its also most likely this company will never come out of suspension as the new auditors will flat going concern issues. Last day to sell.

If institutions would not sell their shares of WG at 85 pence, as they think they are worth more. Why is not said institutions not buying now? Buy at the 30 pence level and sell at 85 pence and they will make a killing.

The company now is so weakened todays update make a take-over more likely, just not at the high levels many people have been pushing. 85 pence will be the max and a figure the LTH and largest shareholder would accept. Prior to this update many had expected something like £1.50 - £2.00.

Deal is still on and it has put Sadira in the driving seat. WG position is now weaker and they have to now consider a bid. They can see what happens to a share if a deal is passed.

A killing can be made here as todays update makes an offer "More likely".

This could push WG to do a take-over. If Sadira still wants it I think a deal is there to be made. I cannot see why institutions would reject a bid at 85 pence now. Why would they refuse to sell at 85 pence and not buy now in the 30`s?