Member Info for LWHL

Did not spot that. Thanks for bringing it to my attention. He was slow to update the company!

I wonder if Mr Newton plans to sell more, or is done for now? Presumably, he has been selling at a loss, given the last RNS he was mentioned in showed an increased position, at a SP that was a good deal higher than now.

The next BOD update cannot come soon enough. It needs to be good, so we can regain market faith, and in the process, hopefully attract some new investors, as well as help to flush out any stale bulls without tanking the SP further.

Hardly impatience, given the current time-frame (and counting). But I agree with those who may feel it is not before time that the company provides an update.

We can only hope that it is worth the wait. And that the wait is nearly over. GLA.

I have known (and still know) a few people who have held NED roles in a range of outfits. Friends with a couple still.

Apart from one of them, who did bring a lot to the table in this capacity (and who also bought a fair chunk of that company's stock too)...I remain unconvinced about value.

Anyway, no harm in having different opinions.

GLA and let's hope for a strong week and SP recovery here.

Fair enough. Hopefully the NED's here help JW achieve shareholder value soon. Be nice to see them buy a few shares, too. GLA.

Hand on heart, did you provide good value for the cash and the 'client entertainment' that you got?

Should have added, I would only pay them in shares as well....with strike prices that are comfortably north of whatever the price is when they are announced to have joined.

If they are any good and have confidence in their ability to bring success to whatever company they become NED's in, it should be incentive enough. Given the infrequency of time they ever spend in this capacity anyway (usually juggling multiple NED posts on top of other paid roles usually), it should be more than adequate recompense.

I am not convinced that NED's, especially in AIM outfits, bring much to the table. Certainly never seem to in any of my AIM stocks anyway.

IMO, the CEO should never rush to bring any on board, but when they do, they should manage them carefully - and dump any that are clearly dead wood, ASAP.

The whole thing just seems to be a way to extract cash from a business, especially when you see jobbing politicians on the payroll.

One of my current holdings comes to mind on that one. He has proved to be singularly useless to date. IMO naturally (although would love to see evidence that I was wrong about that. Fairly sure I would not be).

Anyway, that is for JW to manage. The success or failure of this company will be something that he alone will be responsible for.

All the more reason to get a deal signed off ASAP. And hope the deal is honoured, years into the future.

But, as the saying goes, you can only control what you can control. The price (and often process) of doing business in Africa is usually somewhat different to the price of doing business in north America, for example. Believe it or not.

That is what the BOD are paid to manage and to ultimately get it done.

If it was always easy and routine then why would they need to draw a salary much in excess of minimum wage? Their experience, expertise, local knowledge and high level network - culminating in delivering the goods for us - is why their remuneration is somewhat higher.

Anyway, this has probably been covered enough now. Let's see what happens. GLA.

It would be a minimum expectation that they do already have deals/partnerships lined up for if/when this finally gets off the ground. Something that I would expect to have been informally concluded months ago in fact.

Is the government being greedy? No doubt. Is that which they seek 'fair'? Possibly not. Does it matter one jot? Of course not. TIA. Get it done, BOD. IMO, it would already have been concluded if we had accepted this reality. The BOD seem to have pushed back hard and tried their best to negotiate a better deal for the company. That is understandable. Might work in the west. Might have worked in Malawi 20 years ago, although that I do not know. Not an African nation I have any familiarity with.

Ultimately, if they only have partners/potential buyers at their current offer position and the government cannot be moved to compromise, then it is a stalemate.

And if it is this scenario, they need to confirm it at the upcoming meet, along with what they are going to do about it.

Or we can carry on waiting in the hope of a change of heart or a change of government - and one that is friendly to us, as well.

I personally do not fancy that equation one bit.

I agree the recycling business has plenty of merits, but unless they can get the next fund raise away at a decent premium to the price today for that line (seems unlikely in this lending climate IMO), then we are going to need to see the BOD secure a deal with the government for what a lot of the current holders are here for in the first place - the MDA.

They have spent plenty of money progressing it to where it currently is. I appreciate that. It was a key feature and justification for the last raise. Therefore, failure is not an option and will not be acceptable.

It seems increasingly likely that they are going to have to bend to the will of the Malawi government, or at least hopefully be able to negotiate eg an 8% deal. I'm sorry, but if anyone thinks that we are going to win this battle if we hold firm...given the geopolitical stuff in play, then you are almost certainly wrong. I pretty much said this a few months ago and here we still are.

I just hope the BOD know this. They still retain my faith. For now. It is starting to falter though, I will admit. Tick tock!

Thanks, west. That makes sense.

Fingers crossed the numbers are good when the update lands. FCF improvement is absolutely essential I agree, and a return to higher levels of profitability will make this a good turnaround story with meat to the bone, even in this economic climate, IMO. GLA.

That is what I am inclined to think, although given the strength of fairly sustained support we saw around the 150's, IMO it could prove to be a fairly stiff resistance area when the reverse happens. Whenever that might be.

What appeals to me about this one, versus house builders, is that instead of purchasing new homes in this tough environment, repair and restoration work may replace some of the lost income from a sustained slow down or halt to house building. Bricks are essential. New homes less so. Even allowing for the population expansion etc.

But I thought a housing market crash/strong correction was going to happen sooner than now, so held off buying TW near the lows last year. I felt that sentiment was not nearly bearish and hysterical enough on house builders at that time, hence my decision. So my opinion in this area (like so many others) is worth less than a Poundland crystal ball :)

Glad this new initiative seems to be showing signs of success. IMO, given the discounts, there should be a no returns policy, or at least at a cost to the purchaser that makes any returns entirely cost-neutral to the company.

Anyway, has anyone done a rough calculation of what the potential profit might be from this 'side business'?

TBH, I am too lazy to attempt the task myself (and juggling the school strike day stuff, so even less inclined than I might otherwise have been!)

Sounds like you live in Portugal, contrarian123...

It could simply be a fund or funds that are trimming their position in a fairly orderly fashion. I have seen it happen elsewhere in the past. Without decent buying volume, this can happen quite easily. Especially in a downtrend wider market.

The trouble is, there are so many quality stocks looking like good value now, that this one is having to compete with those buyers.

And IMO there is a lot of nervousness right now, so naturally more sellers than buyers. Many of the latter are sitting on their hands - rightly or wrongly - so the bottom could still be a little way off. Certainly IMO the wider indices have a lot further to drop, especially across the Pond. Hence trying to keep plenty of dry powder back if I am right.

A comfortable holder here (subject to usual caveats) and as long as the management deliver on their fairly conservative targets and build on that going forward, then IMO those currently with fairly low averages will see a profit here at some point. I do not see ATH's here for a very long time though, if ever. Would be pleased for it to be otherwise though :)

Geopolitics can be fluid. Maybe they did once have a very good relationship with the Malawi government, but global events and behind-the-scenes international 'negotiations' have altered this. Or maybe it is just the government dragging things out for a better deal? Hopefully the latter, but IMO the management need to update us on the current status.

I also agree that the strike price for their options should have been far higher, but like you, obviously hope that it is a sign of confidence that it will - finally and soon - be concluded.

Certainly not encouraged to increase my small holding here at the present time. Also not going to sit tight for an indefinite period either, if the months continue to roll by without completion.

Anyway, let us hope for good news soon. Or at the very least, a clear update. Will not be impressed if we continue to experience radio silence until the next fund raise request, for example.

I have been a loyal LTH in other similar outfits, given extended time and benefit of the doubt to management, adding along the way etc and paid the price. So my willingness to follow a similar path here is extremely limited.

A good, bullish overview, GLR1990. Nevertheless, my take on the last raise was that it was primarily focused on getting the MDA over the line, based on that RNS. Sure, it mentioned other things, but that stood out front and centre to me. Do you disagree? Genuinely open to a different view, if applicable.

Say that hold firm scenario plays out, and we just sit tight in a staring competition with the government.

How long is our current cash runway to manage existing operational and corporate costs?

MDA finalisation not only gives the scope for a sale or partial sale etc, but also IMO better potential lending terms for a range of other things, for obvious reasons.

I bought in here after that most recent raise, so am not one of the (perhaps understandably) miffed longer term holders who were not entirely pleased at the discounted raise at the time.

Still long here, FWIW, and joined in part due to that decent CEO purchase outside of the raise....but as time ticks by, the risks increase considerably, IMO.

All the best dallo, but I do hope you will drop in from time to time still. I echo the other poster about the value of your opinions.

First time commenting on this one, but had been a holder for a couple of years. Actually took profits fairly recently, and then bought a chunk back in a few tranches because I thought it had become oversold. Naturally, my timing was rubbish! So now sitting on a low 150's average.

Comfortable taking a LTH approach if necessary (usual caveats), but just interested in any posters here who might work in relevant trades who know/think that this might be company-specific, or part of a wider macro/sector specific sell off?

Was planning on buying another tranche if we hit 2016 lows, FWIW.

Am I missing something, or is this a good buy and accumulate time? Goes without saying, opinions will be taken informally, my money, my choice etc.