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I expected something from the AGM, amazing there isn't anything at all. Looks like we will have to wait until the end of November.
Good informative post SutekhsSocks, Sadly the investments in LEC & Clean Tec are going the wrong way, about 35% down since the start of the year, otherwise you are spot on so lets hope Mr Byrne comes up with some much needed good news.
I am struggling to see much positive here, and like you i have invested too much money here. If you go through my posts i have never suggested being in the know on anything, just on this occasion i have information confirming the Pakistan Kalina Cycle Plant is running. Something hasn't been smelling right for a while here, i do think we will find out before the end of November what is happening. Just a point of interest, why hasn't the ASX queried Wasabi as a going concern? the latest quarterly cash flow report doesn't make good reading and the ASX are quite strict and on the ball with theses things.
I have followed the company for a couple of years, the ideas and vision for the future has been fantastic, however in reality they haven't really delivered on anything. It doesn't look good, and i expect we will find out more with the AGM next week, and the final payment of approx $4 million for the Turkey project due end of November. I have wondered if there has been a fall out within the FL Smidth/DG Khan/Wasabi relationships, the 2 Kalina Plants are well overdue, however i have learned from what i consider a reliable source that the Pakistan plant is working and the UAE plant isn't far behind, so why hasn't this been announced?
Imperator Turkey final payment of approx $4 million due on 30th November. AGM next week. Is the Kalina Cycle Plant in Pakistan up and running? and how far behind is the Star Cement Plant in UAE? They really need to sell some of their stake in Imperator to raise the money, will they achieve it?
The more I read these boards the more I realise that “investing” on AIM is a waste of time. It seems that the modern investor/gambler finds it virtually impossible to hold on to shares for longer than a few days, and can’t wait to sell. This also makes it very difficult for the share price of a company to go up, as people just sell in to any rise, and therefore the rise is rarely maintained. No offence to Mr Jones but I find it difficult to believe you can have made more than £20.00 out of your £500.00 investment, is it worth the effort, expense, and time for this kind of return.
Hinkley Nuclear Power Plant is probably 20 years away so not really significant, the next 20 weeks might well be the key to success for Wasabi Energy. Big seller seems to have gone away this afternoon, just need something positive like completion of DG Khan Kalina Cycle Plant in Pakistan to bring some buyers back, will we get it prior to the AGM?
Please can you remind us what the great news was last week that you mention in your 10.25am post.
A business partner and successful completion on one or both of the Kalina Cycle Plants at the DG Khan factory in Pakistan & The Star Cement Factory in the UAE would help, the Pakistan plant is supposedly imminent. If things were as bad as some are implying wouldn't the ASX have requested clarification of funding after they published the quarterly figures last week?, after all the ASX are much more on the ball than our useless lot over here.
Blackrock have been busy selling, they had 220 million a few weeks ago. Have a look on ASX - 21/10/2013 Ceasing to be a substantial holder & 22/10/2013 ASX Query - We Know no reason http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&allinfo=&asxCode=was
Sometimes Robster i fail to understand you and your pessimism. Clearly when the decision maker at Wasabi Energy invested in LEC & CLQ he envisaged them rising in price, just like i did when i chose to invest in Wasabi Energy, unfortunately as things stand we both made bad decisions, however these things can change quickly with a bit of good news.
You stated they have no capital, i am just correcting your statement. They own 36.6 million shares in LEC & 22.5 million in CLQ. Unfortunately just like our own investments they have gone down in value, what Wasabi are anticipating is a substantial increase in value prior to cashing them in and putting the money into ongoing projects.
Wasabi Energy have investments worth $5/6 million. The shares are in Lignol Energy Corporation (TSX:LEC) & Clean Teq Holdings (ASX:CLQ)
I would hope and expect a lot more than that come 2015.
I agree. Just to say, they have known about their liabilities for a long time, i do think the timeline failure to complete projects will have harmed their income this year, after all we were informed at the end of April that the Pakistan plant was in final commissioning, and that Wasabi engineers were at the plant. The current situation of new investors filling their boots at around 0.33p/share also gives the long term holders a good kick where it hurts, a very high risk investment now but one with massive potential.
I agree. Just to say they have known about their liabilities for a long time, i do think the timeline failure to complete projects will have harmed their income this year, after all we were informed at the end of April that the Pakistan plant was in final commissioning, and that Wasabi engineers were at the plant. The current situation of new investors filling their boots at around 0.33p/share also gives the long term holders a good kick where it hurts, a very high risk investment now but one with massive potential.
At no point have i said the company won't go under, i have just tried to make you aware of the financial implications. You have read the annual report and have become aware that some of the financial requirements are going to take some realising, however they are far from impossible. The long term plan is still a fabulous one, however i think many fail to realise the amount of capital and time required to implement such large scale projects. I really would like to see these current Kalina Cycle Projects completed, i am not comfortable with the delays.
IPO for Wasabi New Energy Asia to raise approx $10 million by end of November 2013 and in excess of $15 million by end of February. They also need to raise in excess of $3 million from the rights issue exercisable in March 2014 (at 0.51p per share). There are a few other issues as well if you read page 27 of the annual report. There are several other options available to raise funds e.g further license the Kalina Cycle Technology. To end on a positive note the report does imply they have plenty of interested parties to assist with the funding.
You need to read more. The latest rns issued on 31st October states they had $52,000 in the bank at the end of September. Page 27 of the annual report available on the wasabienergy.com website details the going concern and financial requirements, have a look!
Biggest volume I have ever seen and down to 5 cents. Hopefully we will find out soon but i assume all the doubts are over funding. Can John Byrne raise the funding for NWEA, $10 Million required by end of November 2013. Wasabi still have several million $ invested in LEC & CLQ, but those investments aren't doing fantastic either. The long term goals are still very desirable, alternative power has never been in greater demand, but will we ever see it achieved?, let's hope so.