Member Info for ThePurleyKing

Dodge - yeah that is true that the underlying situation will probably not have changed much/at all over the weekend, but this is as big a hint that its on the way that you can get.
Maybe people are holding back until its signed and are prepared to accept lower profits but increased surety. My estimation of the risk/reward is that at current levels its hugely weighted towards getting in now being the correct decision. Hence my surprise. Clearly others feel differently!

Must admit was expecting much more this morning, although might see things creep back up again towards 15p later.

Think I'd prefer to get Tema signed, let the dust settle and for everyone to work out what its worth, then another piece of good news at that point.
I wouldn't be upset if it happened tomorrow though :)

I am a relative newcomer :)
Bought in originally due to Iran, although didn't know it was Iran at that point.
Been here way longer than I planned, but not as long as some on here!
Now am planning to stick around for a while out of genuine hope, rather than necessity.

Will be above that by mid Jan at the latest..........

Martyn is going to make £250k today :)

Good rns!
Lift off in 45 minutes :)

Sorry should have added that our contract could come much sooner than that but I think Xmas would be the latest.

LEF, if you read back through this thread from Friday at about 1300 a new account posted some news from Ghana that MPS and GHPA have resolved their differences.
This should clear the way for our contract to get signed with MPS before Xmas.

Will be an extremely interesting day tomorrow. That news breaking ‘unofficially’ on Friday afternoon when plenty of people aren’t paying attention should mean a scramble for cheap shares first thing.
20p pre contract doesn’t sound unreasonable but the big question is where we’ll land when things have settled down post contract.
I’ll sell 20% of my holding at 50p. Be nice to have something to invest for a change!!
This has got the potential to be much higher than that in a year or two though if we start getting things signed.

Cash position should be very strong, but nobody knows yet how much we’ve been paid for the last 5 months of tema work.
Considering the current sp I’d argue pretty much no revenue from future work is priced in and I’m including tema with that where we know we are working and getting paid. Understandable given wsg history of non delivery, but it only takes one to land and the sentiment will change very quickly imo.

DHC, I have my holding here and won’t be selling any sub 50p.
I don’t have anything left to day trade (and it’s not something I’d be good at anyway) but I think we’ll see some volatility here which will attract the day traders.

Didn’t PF day at the agm it was one of 5, 10 or 15 years? Length of contract I mean.
I think we’ll see a spike on Monday morning as this news filters through to people and they climb aboard. Then probably a dip down steadying at 12-13p or so. Hopefully I’ve underestimated that though.
This will be a traders dream over the next few weeks. About time we had some me excitement!

Jimzi from reading that article I think we should be expecting an rns with the contract confirmed pre-Xmas.
Given how long we have waited what is another 5 weeks?
Only slight note of caution is whether this will get through mps shareholders. Given the top brass thinks it’s acceptable it should be ok but always a small chance it’s not and we are back to square 1.

Surely very good news?
Am I right in thinking that the 20% they are referring to are all the smaller ships? So when everything is built and the huge ships come in they’ll all be scanned by wsg.
Quite surprised this had been conceded and still has to get past mps shareholders so not out of the woods yet.....

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.