AIM - all good points, on balance I'd say you are right more often than not about this. If we are gearing up for more work in Ghana then great. No issues with future planning, just would be nice to get the first one done and dusted too!
Hi Win, I asked the same question yesterday, why are we only seeing this company now? Seem to remember reading somewhere that the Ghana contract was 12+months in the making, so that is plenty of time to get the optimal corporate structure set up. Maybe we didn't fully commit until very shortly before we got boots on the ground and this was as quick as we could do it? Does beg the further question about where the money we've been paid has gone I agree.
Great stuff Eskers. If the new Ghana company was only incorporated in the last few weeks and its purpose is to handle the TEMA contract, then that would mean no chance that anything could have been sorted sooner? Or maybe now there is more time they can set things up in a more efficient manner?
An RNS costs about £2k right? Think I read that somewhere. Given what was mentioned at the AGM, I would have thought that regardless of the money involved PF would want to make clear that he had actually been working on it and there is a resolution (of sorts). wtfdik though.
It’s beyond frustrating but I don’t see any alternative but to hold on at this point. Could virtually guarantee an rns the day after I bail if I chose to do so. Just have to trust that the wheels are turning somewhere out of sight. I know we are being paid but some clarity is desperately needed.
RE: New Appointments – Africa & Middle East25 Oct 2019 06:39
Could we please have a Friday special PF? Maybe get see a small bump nevertheless, although if an RNS saying we are being paid won’t move the dial then this is more likely to be viewed as more fluff. Still waiting........
Where the **** were GHPA when the original concession agreement was granted to MPS? Were they complaining then? If not, then its way too late and MPS are being more than generous with their offer. If its an argument that has been rumbling on for years then I guess its more understandable. I'm guessing it isn't though as otherwise MPS would have kicked up a stink right away. Seems that they want the shiny new $1.5bn port, but also want their snouts in the trough as well.
Agree Tosh - its an incredibly generous offer. Hopefully the silence this week from Ghana means that things are getting sorted - but we're probably reaching a bit looking for positives from hearing nothing :) It'll happen eventually but its beyond frustrating waiting this long.
Its understandable in a way that GHPA are kicking off about it. They had a nice cosy little set up going. It seems from what I have read that MPS are doing the best they can to mitigate the job losses, just seems strange to me that all of this wasn't sorted out months/years ago when surely the full impact of what was about to happen would have been known. Guess that is Africa for you. One thing that I think should count in our favour is that this is a very high profile project and prolonged ****ing about with contractual terms and missed deadlines etc is going to be a big turn off for any other investors in the country/region. For this reason I think it will get there, just frustrating that we are the ones waiting for others to get it together.
Hi Yrab - can't remember who said it recently, but one possible reason for the silence might be that with the negotiations currently taking place about potential job losses etc its probably not the best time to go boasting about how much money WSG are making from it. I'm content to wait until that is resolved, though sooner rather than later would obviously be good.
Based on past history, that is a sensible position to take. What detail are people expecting to see in any contract announcement? Am hoping for a $ value per TEU, but it might be we get an approximate revenue figure to the company per year.