Member Info for Medjed

Maybe they can reduce the $250m bu11$h1t part of the deal, the cash ‘injection’ after the deal is done.

No need to touch the per share offer.

I guess the other $200m injection has to stay to satisfy the lenders.

Stumpy I think that phrase ‘minded to recommend’ is standard industry jargon. I am sure I saw it in another RNS of a company that eventually sold for more.

I mean we can all read into it what we want, its a fairly ambiguous phrase.

My take on it is that at that stage the Board of WG had to recommend in order to show willingness to sell the company, even if the offer was too low. Had they rejected like they did the previous year they could have signalled Sidara that the dont want to sell and could have scared them off.

So they had to recommend to open the bidding process, to be amicable to the potential buyer.

I could be wrong but that’s my take.

Sure it does indicate some weakness from WG by opening the bidding process that low. Last year when they thought they were in a very strong position and didn’t want to sell they rejected all offers and used more aggressive language such as ‘unsolicited’ etc.

"The only way to increase the price is to find rival bidders."

I completely disagree. II's rejecting the 35p offer would soon cause an increase to the offer if Sidara are serious.

The only way the 35p offer (if it comes) will go through is if the II's like Blackrock etc really think the situation is so bad they would be glad to get out with only 35p.

So lets see it play out. If things really are so bad, II's will know and if the firm offer at 35p comes through they will accept it.

If this is a joke offer and II's will know the true value, they will reject it. Don't worry, II's are super well connected, if they throw out the 35p offer they have the connections to call in rival bidders.

Us lowly PI's can just sit back and watch the show.

At least they used up the agreed authority to allot new shares from the previous AGM. That was 2 billion shares, all used up now.

So if (when) they want to dilute further, they will need to set up a EGM?

Here is that resolution from the previous AGM

Resolution 1 - Section 551 authority This is an ordinary resolution authorising the Directors to allot relevant securities up to a nominal amount of £200,000 (equating to 2,000,000,000 shares at a nominal value of 0.01p). The resolution is specifically proposed to enable the Directors to have the flexibility to grow the Company in an appropriate manner. If granted, the authority will only be exercised if the Directors believed that to do so would be in the best interests of the Company and its shareholders as a whole. The authority will expire at the commencement of the next AGM held by the Company.

I doubt it. If they are going to sell their steak, that is months away. Now will be a slow drift down to placing price until further sale news.

I just knew it that they would do a placing, but still got fomo spiked above 0.1p last week. I guess I didn't learn anything lol.

Hopefully EME can sell their stake before the field development costs start. As Andy and other posters have identified that’s what the RNS is alluding to.

If they can achieve a sale price of £65m as per Andy’s earlier post that would be fantastic.

They may not give all of that to shareholders of course, if they intend to carry on exploring they will keep a big chunk for further exploration.

But as long as the sp reflects the value after the sale then we should be able to cash in on the sp without relying on a special dividend.

ChatGPT thinks the sale process should take 3-6 months. So the shares price could languish a bit and there could be some dirty MM games until sale process rns’s start coming through.

ChatGpT thinks EME’s stake should sell for a minimum of $200m?

Is that really possible? Seems crazy high?

Where is that poster who posted a more reasonable analysis of sale price minimum £20m (around $30m).

Why such a big discrepancy?

How much does EME owe to Conrad for its stake? ChatGPT says a payment is overdue but AIs can be notoriously wrong.

I want to buy more tomorrow but don’t want to get spiked by a placing like on HE1 who did a placing 2 days after their Phoenix like recovery from near administration.

Barclays is not showing 0 for WG.

Still showing 18.44

Appears to be just some brokers.

Pre drill hype. They have worse grades than MILA.

The danger at WSBN is that drilling results won't be spectacular and there will be a sell on the news. Unless they have some spectacular results. Its a gamble.

But I like the odds at MILA better

Should have waited, I picked up 13's

average now 11's

Always keep in the back of your mind, this is the company that did one of the biggest, if not the biggest single dilutions on AIM, the float was increased by 17 times!

So on any decent spike expect a juicy placing. This is to be traded all the way, don't hold nothing. If there's a decent enough spike take your profits before they steal them with another placing.

Maybe if they are smart, announce a bitcoin treasury or something clever like that, put AI in their company name, we could hope for a best case scenario of a spike to £18m mcap, or 0.1p share price. That would be the time to get out, on a nice juicy spike. And never come back lol.

"Gap up to .34"

with 18 billion shares? I don't think so. That would be almost £60m market cap.

maybe in the long distant future if lots of ducks line up and none of them sink lol

@Kando, yes for us that entered at low prices during this crisis, 35p is a good quick buck. And if there was a recapitalisation we would be kicking ourselves for entering too high. But for long term investors 35p may well be a robbery. They are already down 80%+ what's another few %

Recapitalisation will give them a chance for WG to get back to, if not its glory days, at least a more reasonable valuation.

As we already discussed many times, even if, as is likely, recapitalisation means a huge dilution, lets say 3 billion share total after, or even 4 billion.

With WG set for positive FCF in 2026, and with a similar order book value and EBITD as Worley, currently values at £3b mcap, its a chance for long term investors to recoup value.

£3b/3b = £1 per share

even at 4b new shares (recap at around 8p to raise £200m)

£3b/4b = £0.75 per share.

Unless there is a better offer than 35p, if I was a long term investor since before this crisis I would be praying for recapitalisation than to have any opportunity of recovering value taken away.

Barclays 'smart' investor still showing 18.44p too

£2.5k ie 1%

90% would go into some safe dividend stocks or large safe stocks like NVDA

I lost count the number of times I have seen people on AIM (and Main Market tiny caps) lose £100's of K's by investing in these crappy speculative stocks.

If you have £100's of K's don't get greedy, put it into something big and safe. Or something that is big and guaranteed to grow.

Hmm I'm seeing only 27% lol

IG quote 0.0127p

“ What about MIRI’s Gap ginormous… up to 0.35”

That gap no longer counts because there was a 17 to 1 dilution.

Divide everything by 18 lol

A rights issue for £200m at 35p with current float of 667m shares would introduce another 571m shares for a new total of 1238m shares valuing WG at £433m mcap.

However since the current sp is only 18p any rights issue is likely to be at a discount from that.