Member Info for ThePurleyKing

Hi Jimzi,
I've read hundreds of messages over the years about MMs manipulating stocks "They want your shares!", "They are dragging this down" etc etc.
I've never paid them much attention as most of them seem to be excuses for a declining share price, I don't have L2 and I'm much more a pick a winner and hold kind of bloke.
You seem to follow it pretty closely, can you point me towards something I can read to learn more about how MMs work and what kind of things you see/what they mean?

Hi Aiming,
Re: Saudi, if I remember correctly, the RNS said that conversations had already taken place re: new contracts. Although we don't know, optimistically this could mean that the talks had reached a fairly advanced stage and the customer said something like "right, set up a JV and we'll get this done" and thats what we did.
So, something may come from the JV sooner rather than later. Appreciate this is all speculation though.

Lefk,
From reading this thread for the last few years I’d say the majority here are investors as opposed to traders. Though I am sure some masquerade as others.
I’m certainly an investor. I don’t have time at work to monitor things hourly, I pick a company and wait until I either hit my self imposed stop or something good happens and I can start to execute my profit taking.
I’d love to be able to successfully navigate the waves up and down but I’d kick myself every five minutes for the next 20 years if I happened to be out when the news broke.
If all goes to plan over the next couple of years this share will fund my kids schooling and maybe some of my retirement. I’d be a fool to even open up the slightest chance that I miss the initial leg up.
Pick a winner, Buy, hold and be patient is what I try to do. Even though patience is sorely tested at times with wsg ??.

Hi yrab,
Agree this feels and smells different from before which is why I am happy to hold. 600k at Average 12.5p.
What I was trying to get at was that until it’s signed and sealed it’s still jam tomorrow. There is always something with wsg that happens to fack things up. Not always something within their control admittedly.
It’s like my Missus getting ready to leave the house ?? Always at least 15 mins late and there is always one excuse or another, sometimes legit sometimes not. At this point The market doesn’t give a sh&t what the excuse is They just want it to be done.

Nothing will move this back above 15-16p apart from concrete news on either Ghana, Saudi or Iran imo. Or maybe something completely new.
The quite understandable issue is that as of right now it’s still jam tomorrow. The market has had enough of promises from wsg now it needs to see some delivery.
I still firmly believe that Ghana will happen and when I look back in a month when we are at 60p I’ll wonder what all the fuss was about and it was all in hand all along. Let’s be honest though it’s rarely that simple for pf he has a horrible knack of snatching defeat from the jaws of victory.

Hi feeks,
Agree the sells today are going to be the short term traders getting out and using their money elsewhere.
I think we’ll drift down towards 11p or so over the next month unless anything else is announced. From the wording of the rns I don’t think we’ll have a tema contract finalised for at least a month. No mention of “imminent”, “shortly” or anything like that.
That said I seem to remember pf saying he wasn’t going to promise timelines so as not to mislead so perhaps I am wrong about that.
We’ve all been here before with wsg and I think that is the frustration at least it is for me. Just need to get it signed and then we’ll be off and running.

I think this will be viewed negatively by the market today.
However as things still aren’t finalised I’m not sure what else could have been released. It contains some more details about the scale of things which is good to see.
Just a little more patience required, it’s still a 10-1 on bet it all happens but with previous wsg history it’s bound to be a red day imo.

Or must we wait til tomorrow? Or god forbid longer than that.
I think it’s a little quiet on here as a few (me included!) are pretty nervous.
Hopefully I’ll look back on this along the lines of “they had it in hand all along”!

Surely they are obliged to rns anything ‘significant’?
Strange language to use.
For that reason I’m not going to attribute any huge value to it but it’s another good example of things ticking over nicely.

Hi Mike, agree that it could just be a not so subtle hint where the sp is headed in a couple of weeks time and nothing else.
Either way I’m relaxed about it. If tema contract is followed up within a month or two with something else that does require a small dilution I’m sure that will be viewed by most people as a positive because the whole sentiment will have changed. First step is the hardest, get that done and future negotiations will go far more smoothly as we’ll have a demonstrable track record.
I hate wishing the weekend away but part of me can’t wait to see what next week brings!

In the interview PF was asked about a cash raise and he talked about next week or the week after maybe being a better time to do it. He didn’t say that one wouldn’t be needed. He didn’t say 100% one way or the other so definitely possible that one happens.
I am trying not to get too excited about this share but finding it very difficult. On a decent contract I think we’ll see 70p or so.
Seems that newsflow on new projects will be a bit faster than before (at least that is the feeling I got from the interview) and lots of irons in the fire. We could easily see £2+ in short order if things go to plan.
Big IF I guess but the path ahead is clear we just have to walk it.
Bit early in the morning for a ramp I know ??

Agreed Tosh, I think we'd be looking at £80m-100m market cap if the contract is a good one.

From the interview I think it'll land next week, or at least PF is expecting it to be signed next week.

Fox - fair point. He is the unluckiest chairman I've ever seen, so hopefully he hasn't jinxed anything with the not so subtle hint dropping.

He was visibly smirking at a couple of key points in that interview. He's obviously extremely confident with what will happen shortly. Guess he's permitted some smugness after the battering of the last few years :)
Not bothered at all by a cash raise at 40-50p+ in a couple of weeks time at all.

Jimzi,
Agree that partnerships with local entities are the key. If everybody wins from a contract its much more likely to get signed rather than all the money flowing outwards to a foreign company.
If we get Ghana over the line and possibly a few more smaller deals elsewhere then you'd have to say we'd be viewed as an experienced, trustworthy player by any future JV partner.
The path forward is clear, lets just hope we can follow it.

Hi Alan,

Also the potentially recoverable long term debt that was previously written off. iirc the client that owes us the money contacted us about possible future work, so our condition of doing that would be to be paid for the first lot we did. I don't think any numbers were mentioned, but is another iron in the fire.

Hi Ian - yes thats what I mean - full workforce = a few hundred, so strange there are less than 10 at the moment. Anyway - not important!

I guess it depends on how quickly things ramp up, but would have hoped that the team would be all trained and ready to handle large numbers of containers. I don't know how long training would take, perhaps its only a few days and its not a problem to get people in and trained very quickly for when things do pick up.
Fair point though about the contract not yet being signed being a reason.

Is it only me who was expecting 30 or 40 people? Perhaps it will get to those sorts of numbers as time goes on.

Re: DHC's post. Does anyone disagree with those numbers? £10 profit per TEU. Around 1 million per year capacity at the moment = £10m profit per year.
Discounting everything else, P/E of 10 gives £100m = ~70p SP

Just trying to gauge what will happen when the contract drops is all. Even if its only for 10 years, that is plenty of time, even for WSG :) to secure new work.

Congrats threeputt! That is an impressive average cost. Mine is 12.5p overall. I will topslice at 40p+ but intending to hold the vast bulk of these for the duration.
This could genuinely be a life changing share for me and whilst I'll protect myself from any disasters by ensuring I don't lose my shirt (if we do get to 40p+) I think this should be a longer term keeper.