Westminster Share Discussion Threads

[tradermick1] 04/4/2017 09:00

Not surprising to see buyers all over it given how low it's dropped in the last week.

[tradermick1] 03/4/2017 23:36

And the shareprice will still spike several times buy when weak and offload on the spike.

[saucepan] 03/4/2017 22:52

Not to worry, management still get their salaries.

[graham1ty] 03/4/2017 22:48

Threeputt, one of the interesting discussions on this Board about five years ago was about the cost to a Company of expanding. WSG are showing the amount that has to be invested to win a contract. Once won, there will be a massive call on working capital just to get the contract off the ground.

The conclusion five years ago was that, in cash terms, a new big contract was something of a poisoned chalice: requiring massive further cash calls. The only redeeming factor being they could be done at much higher levels.

Conclusions: whether they win a contract or not, there will still be large, continuing cash calls

[threeputt] 03/4/2017 22:12

Graham, thanks, I'm aware of the difference between ebitda, adjusted ebitda etc, and the shenanigans that attempt to be hidden between those phrases, I just think in this case that cash calls will be less frequent in the future than in the past simply because they are receiving more cash via increasing numbers on the airport, cargo and possibly ferry, together with cost reductions previously made - it ain't great but I believe there is some progress on the cash front

[loobrush] 03/4/2017 18:14

End of tax year wednesday-lots of unusual share prices as people sell to take loses or profits-so current low may not last long.Market will sort things out over the coming week I think.

[graham1ty] 03/4/2017 16:26

Threeput surely the proof is in the pudding......two fundraises since November to raise £1.7m. I do not see any positive cash flow.......

People seem to forget the difference between "adjusted" EBITDA and cash flow. They can report all the "adjusted" break even they like, but if cash is still needed at this rate, they are nowhere near cash breakeven

[tradermick1] 03/4/2017 15:03

I've took a chance, people were happy to pay 13-14p for these not so long ago so I'm banking on this being tax selling etc etc so short term panic so next week they might recover.

[neo26] 03/4/2017 15:02

BernieBoy

The middle-east one, of course...

[threeputt] 03/4/2017 14:47

Graham, you don't think the cash calls will lessen ? some of those were down to ebola and since then flight numbers are increasing, cargo and who knows what to make of the ferry
I'm not completely blind to what could happen here and their flimsy past, but fortunately sold most in the 20's ages ago and made some back then, but I believe they are getting better with cash albeit no way break even

[bernieboy] 03/4/2017 14:17

I was surprised that you got back in tbh saucepan. I was in from 12 before as you know but got out with a small profit after watching it all the way up to 36 and buying more at 28p. I am still not tempted to try my luck again here. But good luck to those braver than myself!

[saucepan] 03/4/2017 14:06

Agree, this is looking increasingly dire. My re-entry punt some weeks ago is long gone, btw.

[graham1ty] 03/4/2017 14:04

Seller of 100,000 at 9.85p.....oh dear

[graham1ty] 03/4/2017 13:58

Neo26....to get to the finish line.....if you take the start of the race the announcement of the East African MOU, in 2012, then the finish line has been six years in coming. Since then they have had SIXTEEN fundraisings, totalling alomost £15m. They burn cash at the rate of about £2.5-£3m per annum ( they have raised £3m in the last nine months alone, just to keep the lights on).

At a rough spending rate of £600,000 per quarter, then the money raised in Feb ( £600,000 pre expenses) will last until May.

After six years of waiting ( and coming up to a year on the new Middle East MOU/LOI ) then it is a big question whether they will hit the finish line before the money runs out again.

[bernieboy] 03/4/2017 13:49

First single figures trade now very very close......

[bernieboy] 03/4/2017 13:48

Neo - which one? The one they have been waiting for for 5 years, two years, several years or just the one waiting for many months?

[neo26] 03/4/2017 13:25

how low will this go?

Do they now have enough funding to get to the finish line, this is boom or bust now, it all depends on the contract now...

[abergele] 03/4/2017 09:41

tradermick,
yes I certainly can agree on that one,
Ihave seen it many,many times from other shares I own....gla lth's

[tradermick1] 03/4/2017 09:38

Naah it just takes one or two larger trades delayed one hour to show wrongly to make a mess of the buy sell column.

[abergele] 03/4/2017 09:12

The sickening thing about these trading days has been that last week we were led to believe there were more buys than sells by a small 5487 if trades are correct, but we fell from 11.8 to 10.5p...

[tradermick1] 03/4/2017 09:03

Would not offer me anything at 10.25p online when it just dipped to that.

[graham1ty] 03/4/2017 09:00

Who is going to be the first to sell below 10p ? 9.9p anyone ?

[youkme] 31/3/2017 19:59

Below nominal value next week imo
Jim? I'm here for you mate lol

[youkme] 31/3/2017 17:42

Have a good weekend moneytree