Wasabi Energy Share Discussion Threads

[warwick69] 26/1/2011 16:00

get on board before the train leaves the station!!!!

[warwick69] 26/1/2011 15:37

Andrbea that was tuesday in Aus they are on holiday today market closed?

Phil2003 i sent email to Wasabi and very quickly Stephen Morris emailed back and asj=ked me to call him on his mobile. He responded imediately and explained what happened at the plant. The icelandic managers of the plant stopped using distilled water when the distiling machine broke down and used Icelandic Spring water, thinking all would be well. This is what casued the corrossin and first break down. The second was caused by a bolt being left inside the turbine after construction.
The reason they have purchased the plant backk is to get it back running asap to show the world that the process works and make it a showcase for further orders.

I now wish to top up with all spare cash as i am very impressed and encouraged by the management response to an investor enquiry. He explained that John Byrne was looking to repeat tghe success he had with Cambrian Minning, which is now part of western coal the biggest listed company on AIM.

I would urge all new investors to do their own research very approachble and happy to talk to private investors.

[andrbea] 26/1/2011 15:22

overnight (asx) it was up 7.62%

[gdp2] 26/1/2011 15:08

Reports look interesting Phil - will read through.

Thanks induna + warwick

[warwick69] 26/1/2011 12:27

Phil2003
Do we know if Wasabi have an answer to the issues at the plant? They surely would have done due diligence prior to agreements?

[phil2003] 25/1/2011 17:48

I've done some more digging about.

To read what the technical bods at Wasabi will have read & therefore for us to understand the reasons why the Icelandic Kalina plant (they've just bought) was shut down / the challenges they face as this year progresses - people might like to read below.. historically this plant has had some metal fatigue issues & also blown it's turbine twice due to loose nuts!?!?

Suggested reading #1)
www.res.is/static/files/ThesisReports/Peter_Whittaker.pdf

Suggested reading #2)
www.oh.is/page/reports_and_articles

[induna123] 25/1/2011 16:25

GDP, the market cap is around £55m. There's only one company, just shares traded on two markets.

[warwick69] 25/1/2011 15:53

GDP no it is just a value in the individual country same number of shares but traded on two exchanges? I believe that was what Induna123 was trying to indicate. So plenty of upside value to be created, once some sales hit the profit accounts.

[gdp2] 25/1/2011 15:46

Induna123 appreciate the time you spent calculating : that's very helpful. One last Q : so the market capitalisation (IE what both markets attribute the value to Wasabi as collectively) is £108mn yes : so if I were trying to value the company I would be comparing against £108mn market valuation for the company?

[warwick69] 25/1/2011 15:35

well now full offer being paid for small tranche what a complete turn around?
Just shows you need to buy these small shares when someone desperate to sell?

[warwick69] 25/1/2011 15:21

well can now sell above the bid for the first time in ages? maybe seller finished and we may drift back up now?

[warwick69] 25/1/2011 14:14

actual spread is very tight 2.605/2.62 on dummy trades in small volume. so still must be big seller sitting with order to be filled expect some more big late trade sells to show up.

[warwick69] 25/1/2011 14:04

Anyone who purchased after reading Tip in MOS is now well out of pocket but price is still above day before price on 14th Jan 2.3/2.45 first thing after article 2.9/3.1 so MM's trying to shake a few T traders and week holders who were perhaps looking for quick profit? we have now as I123 stated settled at par with AUS market price which is at all time high. so should be well supported g=here and opportunity to pick up shares at better long term entry level. Midas Tip stil a good one IMO

[warwick69] 25/1/2011 13:22

thats the result of the large seller and probably a few week holders who are going to bale just because we have retraced? This should go up nicely on news flows which seem to be plentiful. John Byrne clearly knows how to grow a business from low beginings?

[induna123] 25/1/2011 12:45

Well, were actually lower than the oz mcap now!

[induna123] 25/1/2011 11:55

GDP2, your FT link states the mcap is AU$77.99m based on a share price of AU$0.39.

There are just under 2 billion shares in issue,



2 billion x 2.75p = £55m

2 billion x AU$0.42 = AU$84m

Exchange rate = AU$1/£0.63.

AU$84m = £53m.

So were almost at parity.

Like warwick said above, the daily mail article excited investors here and we shot off up to 3.5p while in oz they lagged behind, but since then we have fallen back while in oz they have been steadily rising to the point where we've almost met in the middle and reached parity.

AU$0.42 = 2.65p

[warwick69] 25/1/2011 11:18

so in Aus market closed at new high yet in UK due to overexuberence on MOS share tip we rallied too high now about on a par with Aus price. MM's clearly played it well last Monday usual spike on news sucks in PI's. I guess MM's now hoping a few will bottle and sell up as it has settled way below high watermark.

[warwick69] 25/1/2011 11:02

same situation as end of last week no price for sales but you can buy at virtually the bid price, MM games again Not a good sign must be very big seller around again MM's only raise the offer to make all purchases look like sells. Does anyone know what MM's are trying to achieve, are buyers getting a bargain or being set up for a fall. I do not understand why they maintain impresion of a market when clearly it is illiquid? ODD

[warwick69] 25/1/2011 10:41

we have clearly run into a bit of a sell order but worth remembering this bit from MOS article

"The signs are good, however. Wasabi is chaired by John Byrne, an Australian entrepreneur who built up Aim stock Cambrian Mining from virtually nothing, merged it with Western Coal and last September helped to sell the combined group to US mining giant Walter Energy for more than £2bn.


Byrne has been involved in Wasabi for a while, but until recently Western Coal took up most of his time. Now Wasabi has his full attention.


Byrne's speciality is investing in firms at an early stage, building them up and selling them on."

the man at the helm will make this a success IMO

[warwick69] 25/1/2011 07:51

closed at previous highs in Aus so may be tick up today back to 3p area?

[dougstewart] 24/1/2011 21:28

don't think thats the case.
that would mean 2 mcaps, which would need to be added to get total.

at present ADVFN AIM quote giving mcap £53.2m , I don't intend adding that to any OZ value.

EDIT: 20th Dec rns says use 1,932,906,442 which would give the above figure.

so prob should use that figure for OZ closing, and hence we get a discrepancy ??

[idougstewart] 24/1/2011 21:00

guess I'm also confused here. I think we have differing mcap valuations because of the different value of share price

Is there just one lot of shares, the same total should appear against both exchanges, and hence that total (just under 2,000,000 m) will give a differing mcap when multiplied against the relevant share price ?

very strange.