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You can repeat as much as you like. Its worth what the market values it at. At the moment thats 2.6p.
What ever this company says needs a very large pinch of salt with it imo and it would seem I'm not the only one.
The proof or not as the case might be will be in the revenue down the line. What ever WSG say at the off, is being ignored.
Why is that I wonder?
Need to clear the sell order to move up. Repeated 250k sells have been ongoing for a while now and the buying frenzy has dwindled.
Id guess spreadex who held 6.1% on last holdings rns are reducing. We had a couple of very high volume days when DRC was ratified. So they may have sold into that liquidity. Best guesswork only. Theres 3 other possible candidates if you check back from 2020.
The sp should adjust if and when its announced the contracts are live. Maybe sooner if Fowler announces debt funding with fav terms which surely is due. Hes back out there in a week.
PF is quietly focusing on the business as he has been doing to get the DRC over the line. People have been writing him off, he is not making the noise traders would like to see, i.e. ramp, place, rinse and repeat. This is now turning into a proper and viable business, not the WSG of old. I am confident things will turn here and happy for PF to get on with things in the background. As investors, we will have the last laugh, traders will only make so much trying to game the SP but if you accumulate in times such - as this as many of us were doing in the 1s when derampers were all over it - we will reap big rewards. I say watch this space, big few weeks and months ahead AIMHO
Well it's not seeing 10p despite PF and the CFO's best efforts and I suspect if it had seen 4p then you would have had a placing quicker than you could blink. The WSG business model for years has worked on two things, a per passenger fee but also backed by placing or Darwenesque type funding. That way WSG get their money (shareholder money) and they don't have loans to pay back or substantial monthly interest payments to make to service your debt.
It'll be interesting to see which financing route they ultimately take given investors risk profile of the DRC and and the fact it's only £8m projected revenue in the first year.
By the way where has all the previous placing monies gone that were raised for this very purpose?
Best of luck on the outcome whatever it ends up being.
Fairly balanced post there from riflemans who i assume is not holding but watching.
Yes indeed they raised 2.5mil in 2021 when Drc was signed subject to ratification. No placings since 2021 and they have yet to generate any fcf. They have 800k atm so i guess 1.7m spent over 3 years running the company and jetting off to Africa etc chasing deals.
“Only” £8 mil revs in the first year though? £8mil revs is almost doubling wsg revs. Mcaps about £8m now i think.
So its not really “only” to wsg but quite significant. All info available suggests there is room for considerable growth on that. Could be a lot more in year 2. New flights starting as the airport safety is improved. Freight, domestic flight airports. Worth noting also The £8mil is on historic pax so likely to be out of date.
I reckon 10p and more will come but its not instant will need time.
Funding is still yet to be announced. Im not at all sensing a placing. Hes missed the boat (bad pun). Also a lack of company ramping and the strong suggestions its project debt in rns and investor calls. Its sit tight if your and make your own mind up if your watching.
Ian.
Agreed. The sentiment behind Rifle's pots is understood,... we LTH's have been here before.
BUT,.. we know the SL airport model works, it's attractive for the in-country Govt/Authorities,... as they have to little money,.. it's good for us as we get paid by the air carriers, in $'s, via IATA.
WSG have made the contract very tight covering off a number of 'difficul situation' scenarios. ie the early termination penalty, the third party out of country try arbitration, the return of kit etc., all good, solid moves.
As to funding. PF confirmed that initial funding would be from cash at hand,.. he stressed that they had a number of debt finance offers on the table already and he confirmed that the roll out of the five airports will take 18-24months,. so part of the funding will come from cashflow from the DRC contract, which will commence in July and will be circa a$10M in the first year regardless on the speed of roll-out.
As to the SP..... patience.