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That's an interesting revelation Mike - a private company providing Iran airport security. Perhaps German? They must be thinking seriously about this route around the Trump sanctions or it wouldn't have been mentioned.
One of the advantages of attending AGMs and chatting informally afterwards. Good work that man :)
Thanks for your input guys. I had just been comparing experiences I've had with various companies where they grew too quickly for their own good, got in guys who could talk the talk but didn't walk the walk and . . . crash. As I said, I'm as excited as the next person on here, just had this vision of PF and TB running around like headless chickens after they'd bitten off more than they could chew. Then again, I'm sure TB has a huge appetite! :) Have a happy weekend all.
I'm as excited as everyone else on here - another 1p on the sp and I break even after five and a half VERY long years. But
just one small concern. WSG prefaces every RNS with "a leading supplier of managed services and technology-based security solutions worldwide." With regard to managed services we are experts in running security for a small airport in Sierra Leone. As I said last year when we were getting excited about Muscat that eventually became Iran, we were like a corner shop about to become a Sainsburys. Suddenly we're about to be bl00dy Wallmart! Can PF and co cope? Apart from Sutcliffe, what expertise do we have in overseeing port security? We know how to sink a ferry.:)
Not deramping. This is going to fly and we all deserve layers of icing on the cake we've been waiting for over many years and I imagine most on here will have jumped ship (or parachuted out) before the cracks start to show. But it does beg the question, just how much experience do we have onboard if a few more MoUs morph into solid contracts?
Just thought this might make a conversation piece on here while we wait for container info to be firmed up.
SFU: sounds like you haven't climbed back in. I really do hope you get some serious wonga out of this company. You stayed faithful for sooooooo long.
GLA
MikeGP and Hereandnow for the feedback. Much appreciated. So, the Ghana contract is for at least five years but, looking at previous form elsewhere, more likely 15 years. This one looks as though they might actually pull it off. Much happier today than I was yesterday.
That sounds fair enough Foxy. Remember, when PF wrote that he didn't know the Africa deal was about to hit problems out of their control and he certainly didn't expect Trump and the Iranians to bring us to the edge of another Middle East conflict. I'd say WSG are working hard and making slow progress, bearing in mind that this really is one of the unluckiest companies on AIM . . . if not the world. Let's just hope Ghana remains stable for everyone's sake.
Mike: I hope I'm wrong, but I'm not holding my breath re a statement on May 24. The date was omitted in the last RNS. Replaced by: "The Company will provide a further update once these matters, which are nearing conclusion, have been finalised."
OK. I take back my criticisms of the Tech Division. A welcome piece of news. Good to see your post SFU. By the phrasing of your words I take it you're still out of WSG. I sincerely hope you're making some wads of wonga elsewhere.
Gaynelly: Not trivial. Tech Division isn't exactly setting the world alight and when WSG flagged up that $200k deal a little alarm bell rang. If they thought it was worth mentioning then it seems logical that any previous (unmentioned) sales are below that threshold. If WSG has a sales team of five or more it follows that this latest "triumph" will probably only just cover the wage bill. If there's a team of a dozen or more then serious pruning needs to be done. There are hundreds of thousands of premises around the world that need scanners etc and WSG has been remarkably quiet on announcing sales. If they've sold 1000 pieces of equipment at just $1000 a time I'm sure we would all be content with that, but we all know that's dreamland.
Reckon I'm well and truly in PF's black book. Sent another email yesterday and, again, no response. All I asked is how many staff are employed in the Tech Division. Is that a statistic shareholders are not permitted to know? Perhaps he was busy contacting that African government to ask why they haven't inked the contract yet.
We can only hope Etin. But seeing as there has been no sales news since last October I suppose this equipment could have been provided by any of our competitors.
Has anyone been in contact with PF lately? He always replied to my emails but the last one I sent went unanswered. Think I upset him.
Atm I think I'm probably the more upset . . . by his deafening silence.
One year Rodders
Bed? What's bed? I'm pacing up and down all night trying to figure out why it would take an organisation of any description such an inordinate amount of time to sign an already agreed and half-signed contract. I'm not sure which is worse, this or Brexit.
Good spot Eskers - again! The only ray of sunshine in a very dull and dry Spring for us. Even if it's only for two guys for two years it's like the tweet of a linnet in a silent forest.
Come on you African laggards, where's that ink on our contract!!
A friend of a friend who is contracted at Salam has heard whispers that the terms of the contract have been changed and WSG will now be building a training bungalow in view of current sanctions. When the US sanction are lifted the training centre will be enlarged accordingly.
But that's another storey.
Have a good weekend all.
Vander: What we know:
It is IKA.
As of today the contract is still viable or else they would be obliged to tell us otherwise.
What we don't know:
When the action begins.
Hence: patience (of which we possess more than everyone else in the known universe).
Agree with you etin. I have Seychelles in my original list but I discounted it on here because I regard Seychelles as quite stable. Until PF proves otherwise I think we deal exclusively with "less reputable" regimes ;)
Looking back at the Trading Statement mentioning the first African MoU I see PF reveals 400k departing PAX. Double that for a rough estimate and it embraces Maputo in Mozambique; Ivato in Madagascar; Hirare in Zimbabwe; Asmara in Eritrea; and Kenneth Kaunda in Zambia. The PAX figures I have are a couple of years old and the negotiations were more than five years ago so airports such as Kigali in Rwanda; Aden Addi in Somalia; Malakal in South Sudan; Ambouli in Djibouti; and Lilgonwi in Malawi had probably grown in those intervening years to be included.