This was the baby…. 2020 update said….
An example of this is the African airport project we referred to in our trading update in January 2019 that we were waiting on counter signature from the government. This project opportunity remains alive a year later but was delayed due to an unrelated issue leading to reorganisation within the government which has largely now taken place and we expect to recommence discussions in the coming months.
And has it recommenced?…. Ermmmm….nope.
B
That will be the “ internal reorg”… about 4 years ago I think…. Just another one of them there “formalities “ that Pete waxes lyrical about….One might start thinking there is a pattern here…. Stage 1- Pete issues an RNS stating they have signed a whopper MSC contract, just needs some formalities prior to contract start…..stage 2- Pete places within 36 hours for “start up expenses”….. stage 3 - Silence….. stage 4…. Pete confesses it’s going slower than expected but all on track for a start at least 6-12 months in to the future…… stage 5…. More silence….
Pete has used this on multiple occasions …. Why fix something that isn’t broke I hear pete chuckle….. B
Normal service resumed I see… (selling because the Iran deal mysteriously didn’t happen)….lol….B
Bilge… the answer to all is… yes….. the lipstick wearing, scantily clad pig parrot is actually a dog… on a ventilator but without vital signs… some are looking for the plug to switch him off…. However, there are another group of experts that say that pig parrots with a dog strain can actually survive even after starving themselves of cash for 12 months… B
£13M……B
JL…. A pig is still a pig, even when you put it in a dress… Try looking at the bigger picture, rather than a dead pig making death throws…. WSG maybe 20% up for the week, based on hitting the lowest price in its history… but it is still 80% down in a year… and that high was 6p. !!!…..so before you buy the Lamborghini, think about longer than a 5 day streak where bottom feeders hoovered up 10 or 20% gains… I won’t say bargain, coz it ain’t…. Pete needs more than 1 tiny contract to turn this around…. As someone said the other day, he still thinks he will make £1 in revenue this year…. He now is up to £4M plus whatever he made between July and August…. Which is not a lot……Have a nice bank holiday everyone. B
Thanks Aiming… so £98k then….lol….B
Looks like I was right with my 1.2 -1.3 spread projection… as I have been about most of the farce that Pete calls a “leading supplier”…. Lol….. having to RNS £100k contracts now…. He usually didn’t get out of bed for less than £1m…. But shows the desperation to show he is winning business… but has he bought a £100k contract for £99k… or worse £101k…normal for petes business model…B
john...."yeah id only be 28% if I sold now but once the spread is sorted. It will be 40%"....... are you ok hun?............
the spread will be sorted when the bid is 1.4p..... its not, and this is more likely to go to 1.2p - 1.3p sometime later today as the excitement of the mega contract sinks in..... it pays for the biscuits...... some of us will make 40% once it gets back to 10p plus.... which is likely to be never.......... feel free to have your moment... I would take your 25% .... not many making money long term here.....B
Oh gawd…. It’s £100k contract…. There have been 6 trades….it’s about 1.23p to selll… so no one is 40% up if they sell now.. max of 25%….. and we are still lower than last week… get real… this is Pete trying to get the sp up…. We all know why he wants the sp up…. “Duty Protect” is his newest “cry wolf”… it won’t go anywhere… who remembers “Menzies”…. We was going to be super rich …lol….B
I can only presume that the impact to Wsg is negative…. Otherwise Pete would be building the increased revenue into 2023 numbers….I have not heard him say the £5m in recurring revenue includes a larger input from SL….he has been very silent . I also presume that DL have had a stab at stating what they expect the increased footfall through the airport to be…£270m is a lot to pay out without certainty of a quick return…. B
I think these are good observations about the impending completion of Freetown Airport from Suma... I n ote it is being badged as "a new airport" rather than a mere extension to the existing one..... and with completion being so close, I do find it odd that it doesn't even/ever get a mention in the Airport updates from Pete..... In comparison, He often mentions the TEMA expansions and the improvement of volume on income... yet not a peep on Freetown, his flagship MSC...... Can it be supposed that WSG are somehow not getting some of the expansion action.... I agree that if this was a nailed on certainty that a step change in revenue will come out of the upgrade and increased footfall... Pete would be jumping up and down with his megaphone.... and he is not...... Not even sure when he spoke last about the expansion..... certainly not in the 21 or 22 business updates.......B
Problem for Fowler is he needs "a pump" to get a placing away.... A lot of previous investors heavily bruised after the 4p (reset in 2020) and 5.7p (2 x MSC) placings backed up by "lots of jam" promises that have yet to materialise..... will very unlikely play ball unless the price was heavily marked down from today.... Pete in a spot, so will he invent another MSC that only requires some formalities to launch or will he bite the bullet and just go for a heavily discounted placing to keep the lights on.... I think he has been waiting and waiting..... (explains why no placing for a year) for some luck... and he is running out of runway......
Nice to hear from you Aiming High.... not so sure averaging down is a good idea ..... but best of luck anyway.....B
JL… link to latest Arden report please. B
4 times as many sells than buys…. 1p is still not tempting anyone… not even JL76……or Pete and the BOD….must be a closed period with all them secrets that are stopping them from buying….lol…. B
Penny to buy anyone…. Market cap a mere £3m…. So Pete would need to dilute by a minimum of 100% I reckon to get a mere 1 or 2 million to tied him over till… well the next placement of course…. He might need to come back for approval to lower nominal at this rate….B
Wonder why it’s not showing?….B
So with relentless selling, it seems to be stubborn and doesn’t want to go sub penny just yet…. Maybe… just maybe it will before the close… TW expecting a placing…. Seems everyone else is…. But without a big contract to underpin a raise, how would he get one away without huge discount… ironically the June 2021 raise was at a premium… only for one day of course…..B
It does actually show that Pete had the foresight to set a new nominal at 0.1p when he reset… oh for the 10p nominal days, I can remember when he had to be quick to place after Tema … he hyped us to 14p, then had to tell the truth, and as a consequence found himself scampering to SVS…..It’s only when you think back to all those times he really did us over that you wonder why he still has the audacity to stay in post…..B
Agree Sham…. Same old… lots will be selling to buy back cheaper… quite an underwhelming mid year report yesterday and nothing really stirred until lunchtime…..must have dawned on peeps only the £400k left in the till … costs £5m a year to run this dog (parrot) not sure how it’s still breathing……B