Member Info for ThePurleyKing

I expect that all the important bits are already agreed and now its just the lawyers going over the fine print and making sure its all watertight and everyone is happy.
Can't imagine we are haggling over fee splits or $ per TEU at this point, should just be dotting a few i's etc.
Commencing the work before having anything in stone does make me feel a little uneasy, but thats the risk and its why we are still at 14p.

Hi Ian,
Agreed that the numbers look extremely good for this, even more so than Iran. I think I must underestimate the bad experiences people have had with WSG over the last few years as that is the only way to explain the fact that the current SP doesn't seem to have this priced in at all.
When (hopefully!) this does land and that sentiment changes we might see a more realistic SP going forward, one where future contracts are priced in a little more at the stage when plans are announced, but nothing is signed yet. Just need to get one big one over the line and it could all change.

Ian I think those numbers look realistic, based on the information we have at the moment.
Assuming a margin of 50%, that is a completely transformative contract.
I don't have any knowledge of these sorts of things, but if we are providing the staff and the know how of how to operate the scanners and all Scanport are doing is providing the kit, I'd hope that the split would be more heavily weighted in our favour. I guessed 60/40 yesterday, but thinking about it more, I'd expect 70/30 to be fairer.

I'll go with 10 years and £15m revenue in year one, revenue to increase as the port expands in the future.

It wouldn't be WSG without some last minute drama and bad luck.
Hopefully they can get this wrapped up with the minimum of fuss, within the stated timeline and with a good long contract and favourable terms.

Thanks Invest - appreciate the answer.
Probably something I should know already as Aiming pointed out :)

If all containers are scanned, presumably at somewhere around $60 a container, that is quite a lot different to only a small percentage.
Guess it will all come out in the wash eventually, but can anyone confirm that every single container will be scanned? Doesn't seem hugely likely that is the case, as that would mean 2,740 per day (going on a million a year). Surely its not a 5 minute job to scan a container?

If all containers are scanned, presumably at somewhere around $60 a container, that is quite a lot different to only a small percentage.
Guess it will all come out in the wash eventually, but can anyone confirm that every single container will be scanned? Doesn't seem hugely likely that is the case, as that would mean 2,740 per day (going on a million a year).

Mine is 15.5p - based on nothing at all apart from my ever expanding gut.

Lefkosia,
You can tell from my username where I live, so hello from a fellow Purley dweller :)

Hi Mike,
I agree its unlikely the contract will be here before Friday, was speaking more of the risk that the contract never appears at all.
I think WSG would take advantage of the opportunity to let everyone know that work has started on Friday and everything is still going to plan and so I'm expecting an RNS then, even if it doesn't say too much.

I think the risk that a port contract is not forthcoming has to be pretty low, which was why I was happy to treble my holding yesterday.
If I understand correctly, we've been speaking to Scanport for about a year and we already have someone (multiple people?) there and ready to get working on 28th.
I'll put this down to disorganisation from the client in not getting everything in place and signed beforehand. Would be unheard of in the UK that a company (WSG) commits so much without having anything signed, but this is Africa after all and part of the risk that you take in going after this type of work in this part of the world.
Perhaps I am naive, but if the contract hasn't landed before Friday I'm expecting an RNS on Friday to say we are underway with the work and contract is being worked on blah blah blah.

I would have thought that commencing operations would be considered worthy of reporting, even in the event that the contract isn't signed yet, so I am expecting one personally.
Would make sense from WSG perspective as well to make it clear they are on the ground working.

I wish I had a million of these, but am now at 600k, with an average price of ~12.5p. Won't be adding any more for the time being.
Wish I'd had the stones to load up at 6p rather than 12.5 but things were looking pretty bleak at that point and was considering taking a 50% loss on the 200k I had. Figured I wait for AGM to make a decision.
This could either be the best investment decision I ever made or the worst. I think the dice are loaded in my favour now though.

Ah - just seen the new money arrive now! Thought previous settlement wouldn't clear until tomorrow.
208,884 added now.
Thats enough for me now!

The 196,570 just now was me, with a similar amount arriving tomorrow.
Hoping it can stay at 12-13p until then!
Have posted previously that I thought 30p minimum on confirmation of contract even if the lower estimates of number of containers through the port and price per container are announced.
After that, if we get a couple of deals through the new KSA connection then we really should start motoring.

Think they are supplying the kit and we are supplying the manpower/knowhow

I have a sizeable chunk of money coming through on Monday that I'm going to buy some more with and don't want to have to pay 15p or more :)

I am in a similar spot.
Have an average price of 12.26p and although obviously still losing things are looking significantly more rosy than they were a few days ago.
Am seriously considering piling in a lot more heavily here and closing some other positions elsewhere, as I agree with the fag packet calculations of ~30p a share minimum upon contract confirmation and depending on the numbers and projections of volumes of cargo it could be significantly more.
Stick or twist ?

Tend to agree on that point. Seems like a very odd time to raise some cash otherwise, especially considering the pretty healthy float at the moment.
Perhaps if things really are a few months away yet, they felt it better to do it now in case the SP drifts on no further news, which it probably will.
I just hope this wait is worth it in the end, would be pretty gutting otherwise, not only with the inevitable SP drop, but also the lost opportunity from having cash tied up here all this time.