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The MMs seem desperate to keep this under 5p. I assume there are lots of ATs at 5p and above but i don't understand the reluctance to get some trading going..
A bit of good news, since the 14th August purchase of 19 Million shares in LEC at 0.08 cents the value has risen 50% to 0.12 cents. I don't understand the rest of the transaction about secured convertible debentures, if anybody does i would be interested to learn.
A major boost to existing projects is urgently required. During the last year little has been completed and everything has gone back about 1 year. The Kalina Cycle Plant at the DG Khan factory in Pakistan should have been completed in Quarter 1, now gone back again to the end of this year. The Husavik (Iceland) rebuild has gone back a year, the Germany Geothermal project hasn't changed since the last update 6 months ago. The 2nd small springs unit for Japan is still in the USA. Once these are completed and confidence starts to grow me might see some progress.
Results due Friday 31st August when we can expect a detailed update on current projects. We already have an idea of turnover from the quarterly cash flow reports so it is more about work in progress. I agree things appear upbeat, however I would like to see a successfull completion of the Kalina Cycle Plant in Pakistan which I think will be the catalyst to increased confidence in the product and a large growth in confirmed orders. According to last years report it should have been completed in early 2012
Creating some very interesting projects, an Rns confirming the DG Khan Kalina Cycle Plant is complete and operating in line with expectations might be what is needed to set the SP moving up.
Yes, further positive progress, however to get this moving in the right direction some of the ongoing projects need completing, or a comprehensive update on progress. The DG Khan Kalina Cycle Plant in Pakistan should have been completed in Quarter 1, from the latest update this is now due August/September. Hopefully once this is up and running, and subject to achieving results as expected, could be the launchpad for a big increase in orders, investor confidence, and a much needed rise in SP. Year end results are due at the end of August, a comprehensive update on some of the projects is required as some of them e.g the 2nd drill hole at the geothermal plant Germany doesn't appear to have made any progress this year, and what has happened to the 2nd eco gen unit for the Japan hot springs?
Announced on ASX that BlackRock Group have increased their holding by 100,000,000 shares to 264,680,865 shares. Good to see somebody with confidence going forward. Poor effort from Wasabi on the Rights Issue, they don't appear to have promoted it, or provided any positive news to encourage buyers.
Friday 6th July is deadline day to receive the 1 in 10 rights issue. It will be interesting to see if this has any affect on the SP, or volume. I don't normally look, but up 18% tonight on the U.S OTCQX market, albeit on small volume. Today's updated offer also demonstrates the Directors commitments to Wasabi Energy.
Wasabi have done well to raise £3 million from UK institutional investors in the current market, and shareholders have until 26th July to take up the 1 in 10 rights issue offer at 1.1p per share. If my understanding is correct there will be approx 3 billion shares in the company, valuing it at just £33 million (at 1.1p per share). I invested here with a 3 to 5 year plan (1 year in), and currently around 40% down which i am uncomfortable with, however i have read everything i can on this company and the potential still appears to be enormous. Completion of the DG Khan Kalina Cycle Plant in August / September could have a huge influence on the future of Wasabi, as many eyes will be on the results achieved and will result in a much bigger order book if it does everything it should do. I am interested to hear any alternative views
Looks like Audley Capital are continuing to offload, 4.25 million so far today, very worrying sadly.
I too am losing money, however when i started buying last March i wasn't expecting a quick profit but steady growth over 3/5 years. Hopefully the bottom has been reached, and now we have received some positive news flow for the 1st time since October 2011 we might see the SP improve. Year end is on June 30th and if we can get another 2 or 3 positive bits of news prior to this we might see an increase in the volume of shares traded, hopefully with a few more buyers. Wasabi haven't been helped by the poor performance of the AIM market, along with the unfortunate fact that these multi million $ contracts take time to be signed up and another 2/3 years to be built. The foundations world wide are in place, and hopefully the order books will continue to be filled. The year end results due late August 2012 will be very interesting.
We have finally had 2 updates in the last week that show what grpest progress Wasabi Energy are making. The foundations are in place, and with nearly 20 big money ongoing projects things are looking very positive. The funding of these large multi million $ projects I don't fully understand, however Wasabi clearly seem to be picking up major contracts along with lots of positive pipe line possibilities. Let's hope the recent 1p price was the bottom and the SP will start to improve in line with the positive news we are now receiving.
At last we have had a comprehensive update on current projects, and it does appear that everything is going well, along with plenty of future projects also under discussion. Apart from all existing projects being a bit behind schedule, and no clues about finances, Wasabi might just start delivering towards the latter part of this year, lets hope so!! Their investments in Australian Renewable Fuels & Clean TeQ might just be poised to take off as well.
Audley Capital have reduced their holding by 5.7 million shares to just 243 million, if they are going to unload this lot i think the SP is in serious trouble. Very disappointed in the management of Wasabi Energy who haven't released any quantifiable news since last August.
I assume from your comment you have read the Q1 cash-flow summary released last week. Just $800,000 in the bank, however they have investments, CLQ is currently worth over $5 million. There are several projects that need updates e.g DG Khan cement factory in Pakistan that should be close to completion, and might have a large final instalment due, the ArcelorMittal 6 / 24MW Kalina Cycle Plants where term sheets were signed in November 2011, and subject a 20 week feasibility study. Unfortunately the B.O.D seem to have resorted to treating share holders with mushroom management.
Another Rns that is difficult to understand and evaluate, however one thing is certain - Wasabi Energy are making a serious effort to become a huge global business. News should follow soon (hopefully positive), as the ArcelorMittal Kalina Cycle Plant feasibility study is nearing completion in South Africa, and the DG Khan Kalina Cycle Plant in Pakistan is due to be completed around the end of June (i would expect they will want it completed in this financial year). Whilst progress appears slow, these projects are huge in size of structure and big in monetary terms, therefore it must take considerable time from initial enquiry for planning a project, feasibility checks, pricing etc prior to any order confirmation. It would also be interesting to get an update on Aqua Guardian, as that business seems to be a closely guarded secret.
WSBLY finally appears to be trading normally on the OTCQX, with 3500 ADRs traded so far today, and 4 market makers. Exciting stuff!!, lets hope Wasabi give us some juicy news to create some fresh interest for investors, along with a much overdue rise in SP.
The following link will take you to the ASX website and the Clean TeQ prices and announcements etc. You can also find WAS and ARW on there http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&allinfo=&asxCode=clq
Clean TeQ Holdings have issued a notice of holding confirming that Wasabi / Aqua Guardian have 32,624708 shares or 22.7% of the company(reduced due to recent dilution). They are worth approximately 16 cents per share which totals over $5 million Australian dollars, they were around 4 cents per share at year end, or total value $1.25 million dollars. This is an increase in value of approximately $3.75 million Australian dollars in the last 3 months (£2.5 million). I can't help feeling that we are a only few announcements away from a substantial increase in the SP of this under rated company.
I think a lot of us are in the same position with AIM shares, it is very difficult to find the rare ones that actually rise in SP. What i find a bit disappointing with Wasabi is the underwhelming style of Rns they generally issue. I can't find any information about how much the investment in AAP Carbon Holdings has cost, what the financial expectations are, or where the money for the investment has come from. The AncelorMittal project is probably worth in the region of $45 million Australian dollars (£30 million) yet this isn't highlighted anywhere. If this contract comes to fruition lets hope the headline in the Rns states contract for $45 million dollars confirmed, which in turn might get a few investors a bit more excited.