Westminster Share Discussion Threads

[graham1ty] 28/2/2017 09:59

ILeeman they do NOT have other contracts. Lungi brings in a couple of £m revenue, the ferry probably less. The tech division is a quarter of what it was five years ago.

WSG have done 22 fundraisings, and they continue to burn c £500,000 to £750,000 per quarter. That is operating losses, investment and Capex. But still negligible revenue.

One day, they have to announce a new contract as this cannot carry on and on. It was just nine months ago they were almost bust, the share price was 5p and there nearly went under. In just nine months they have raised £1.3m from instos, then £1.2m from Darwin, now £600,000 from a new investor. That is over £3m in nine months, yet new contracts ? Nil, zippo, nada, zero.

There are no other (signed) contracts to fall back on. This cannot go on for ever

[on target] 28/2/2017 09:59

Nope. Think again.

[youkme] 28/2/2017 09:57

£1.2m on 22 November lasted just 3 months! Christ has the cash burn gone nuts?

[ileeman] 28/2/2017 09:19

Always a possibility on AIM but they have other business, contracts etc why would they suspend on the lose of one contract. I dont see it happeneing.

[saucepan] 28/2/2017 09:16

Personally, I think you have to factor in that this Company might just get suspended if things don't work out - so don't assume a 30% stoploss is guaranteed safety.

[ileeman] 28/2/2017 09:12

The issue this morning is not the raise it is the fact that investors do not understand Darwin. They looked at the Darwin conversion and got flustered, most if not all have been forward sold.

I am not too bothered by the raise as there are a lot of hints out there pointing towards the ME contract being finalized.

Risk vs reward at this level hmmmm....ME contract lands 5-10 bag say at the very worst it doesnt land then take a 20-30% hit. Those are some good odds.

[saucepan] 28/2/2017 08:59

Cheers, chaps. I am not starting to go all bullish, but there are some interesting subtle changes:

* the advert (great research as always, someuwin);

* the fact that they found an investor to cough up some funds rather than Darwin. Privileged information shared, giving the basis for confidence in the purchase?

* I could not obtain even my small purchase this morning online - had to put in an order. Never happened to me before with WSG.

* Published trade patterns this morning, so far, though they need to be taken with a pinch of salt, have a slight feel to me that the stock is running out of sellers.

* Even G1TY was surprised how quickly they have "run out of money again", but that suggests the funds have indeed not been raised for routine cash burn, but to support a significant development.

Again, only punt money in my case on the basis of gut instinct. I am not going to risk losing my shirt.

[graham1ty] 28/2/2017 08:58

ILeeman, they raised money......as they have run out of money, again.

"The price was not too bad"..... really, 11.625p not too bad ???? When PF in November said Darwin conversion at 21p was the least dilutive option. Now he issues more confetti at 11.6p

[ileeman] 28/2/2017 08:47

Added more at 13p. Tried 12.5p but would not let me buy.

Raise is never nice but the price wasnt too bad and job vacancies in the ME, fairly obvious where this is headed.

They have cash from darwin so I doubt they needed cash so why did they raise equity so quickly...ME contract.

Will add more.

[bernieboy] 28/2/2017 08:41

Saucepan surprised you are back tbh but good luck sir. You called right on the buy and sell last time

[someuwin] 28/2/2017 08:37

You know it makes sense saucepan

[graham1ty] 28/2/2017 08:32

Youkme, it has been going on for five years, ever since Tara tipped this.

I still wonder if anyone actually believes the story. I think most of the rampers are people who paid far far higher levels on the way up and are just trying to get the price up so they can sell and run for the hills.

[youkme] 28/2/2017 08:28

graham, its simply unbelievable, the shameless ramping on this share surpasses anything. This RNS is good news!!!

[saucepan] 28/2/2017 08:28

Bought a few at 12.75p; and here was me thinking I was off the wagon.

[graham1ty] 28/2/2017 08:26

Youkme, you get it wrong

The lower the price goes the better it is for shareholders. The more money they lose, the more they can gain when it goes up. The more new shareholders at lower prices the better as it shows people committing and all new shareholders MUST be breaking the law as the new contract is DEFINITELY signed as WSG have ordered a new waste paper basket, so it must be happening. And it is good news that Darwin have still got half to do as it gives a GREAT opportunity for new holders to buy at ever decreasing prices.

I think PF is worth every penny and is doing a great job ( does this read OK, Dad ?)

[bernieboy] 28/2/2017 08:21

Someuwin the adverts look good but don't forget that they did the exact same thing last year when the price subsequently spiked to over 30p. I just don't believe it any longer. If a contract arrives I will pay a higher price. But I won't be buying on another load of job application adverts.

[youkme] 28/2/2017 08:15

11.6 the placing price. Like I said days and days ago when the rampers turn up you can bet your life on a placing being imminent. how many got shares from the SINGLE (pmsl) investor pmsl
But don't worry the long term holders will defend peter again and once again the cycle of money making without moral will start again imo

[someuwin] 28/2/2017 08:07

They wouldn't be recruiting for the posts if the contracts weren't in the bag.

[someuwin] 28/2/2017 08:01

With recruitment now underway for the THREE major Middle east contracts, now is the time to be buying here.


"A key focus of the business in recent months has been developing its several large scale long term potential project opportunities within the Middle East, including its previously announced major airport project for which the Company received a letter of intent during May 2016 and which is expected to have annual revenues in excess of GBP35m, together with an ancillary large scale project for the same client as well as a significant border project in the same region. Contracts of this size and nature are not only time-consuming but involve complex negotiations with numerous commercial and political bodies. With the major airport contract discussions largely completed, the Company has been actively preparing the required support structures and infrastructure necessary to deliver the projects, including organising a complex supply chain."

[graham1ty] 28/2/2017 08:00

Somuwin, I admire your persistence......but why would the price rise apart from a new contract ? And that is about as likely as Trump becoming Presidnet

[someuwin] 28/2/2017 07:57

20p+ very soon now imo.

[youkme] 28/2/2017 07:54

£1m gone in next to no time!

[youkme] 28/2/2017 07:50

exactly as I said. Skint AGAIN! more raised another £600k and thats why the last RNS imo. Wake up numpties

[on target] 28/2/2017 07:31

Wonder who the new 5.3% investor is (or mug as you call them)?