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I'd have loaded some more on that drop if I wasn't already up to my max pos size! took some fcr today as well, only v small position. Perhaps folios/ markets being affected by general pullback in major markets both uk ans us?
I agree very good to see so much skin in the game. I think when he set up wsbn aim was for a 200mill market cap one day, that might be some time off...... But still 6 months late to report results isnt great...there may well have been good reason for this, bit im not aware of it.
Thought id do a little fun maths. All based roughly on TW math. For simplicity If we take 50kg being break even. 3% profit margin. Spot price gold £30k per kg. So every 50kg traded above breakeven = £1.5mill = profit of £45k per wk. X 52wks = £2.34mill per yr. P/E of 10, means trading 100kg per week = £23MILL market cap. 150kg = £46mill market cap 200kg = £69 mill market cap Current MC about £10mill... Very rough math but gives idea of potential if all goes to plan. Please Correct me if my maths is wrong here!
I believe their mining business is pretty worthless as far as I can tell/ read elsewhere, the interest here is on the trading business they purchased last spring/ summer. + therefore the profit/ SP of company is based on how much gold they are now trading in Dubai at 2-4 % profit margins. The aim for 2016 was to trade 100kg per week with 45kg being breakeven point, the question is have they achieved this....
As far as I can tell wsbn runs results by calender yr. Ie full yr results due for yr end Dec 16. However last year they didn't issue results till June!? And this doesn't seem one off long delay. Any reason we are assuming annual results to be published this Jan or could we need waitingtill June like past yrs?
Yep it's been pretty dead. personally I take the dead bb as a good sign. Think 2 back to back placings killed interest / trust and peeps on side line till results. If all going to plan then 1.4 very doable. If trading the 100k target then even 2+ could be done. My question is 100kg is nearterm trading target, what's possible in another year? 200kg, 500? Very hard to estimate future potential, buyout has been mentioned as pouldens aim / 200mill market cap aim...
Tom w interview with AR out.