Watermark Global Share Discussion Threads

[asixe] 09/10/2012 20:26

adnatrob, you need to flick through the last report abit further to find more
details,but in essence quite a turnaround from their last results and in
a relative good position ahead of the coal project and Amd developments.

--------------------

28th September RNS


Highlights:

Sale of subsidiary Western Utilities Corporation (Pty) Ltd to Mine Restoration Investments Ltd for a total of £4.5m Re-categorised as an investment company on AIM.

MRI briquetting project making good progress with pilot plant about to commence and commercial scale start-up set for February 2013

Profit after tax to 30 June 2012 was £2,716,000 (2011 loss: £620,000), earnings per share of 0.17p (2011 loss: 0.076p per share)

Stated net asset value at 30 June 2012 was 0.33p per share

Results Summary:

Profit after tax for the six month period ended 30 June 2012 was £2,716,000 (2011: loss of £629,000), a profit of 0.17p per share (2011: loss of 0.076p per share). This profit is inclusive of the gain made in the sale of WUC to MRI of £2,751,000. The cash position of the Company at 30 June 2012 was approximately £796,000.

Full Statement:

[adnatrob] 09/10/2012 19:14

WET have approx 700k cash and approx 500k of that would appear to have come from the recent sale of MRI stock. Hardly a lot for what is now an investment company.We do not know the cash position of MRI, but the fact that they could not pay WET the cash part of the deal, suggests in my opinion that they do not have a lot.

[theuniversal] 09/10/2012 18:56

johnspain, do you have shares in MRI and WET or just WET. i was thinking of buying some of MRI. wondered of they can be put into a stock isa. i know wet can. tu

[reutersman] 09/10/2012 17:05

fatfish in my honest opinion i cant see the share price at these levels for too long
and im sure news from MRI is in the pipeline.Lets not forget the coal briquette
technology is ready to go and could be a huge market in south africa alone.

[fatfish] 09/10/2012 16:42

we all can its just when????

[mine cap] 09/10/2012 16:28

many thanks for all the info and links guys :-> i can see this doing very
well indeed.

[asixe] 09/10/2012 16:00

johnspain,good point about mri and also the cash position,i would say that
they have put themselves into a very strong position here.

[reutersman] 09/10/2012 15:43

minecap, here is a link to a speech made by the south african minister responsible
for AMD and water affairs. Well worth a gander

[mine cap] 09/10/2012 15:39

john spain,thanks very much for that,i must say MRI looks like its going places
and is in the right place at right time on various fronts.

[johnspain] 09/10/2012 15:33

mine - wet is mri (old wuc with jse listing + coal briqetting projects) + cash for further investments

[moreforus] 09/10/2012 15:33

JS define....

"decent sized position"

ask for an offer in 5 mill or 10 mill and see what the market wants...ask for a bid in a similar size

agree turnover has hit records last week...hopefully that will continue

[mine cap] 09/10/2012 15:30

Thanks guys much appreciated

I was also doing abit of research on AMD ( acid mine drainage )and it seems
to me that the South african government have been dithering for some time
now but will soon be forced to act as millions of their citizens could be
poisoned through their drinking water.

Effectively MRI is wet under a new name and JSE listing ??

[johnspain] 09/10/2012 15:27

more - what are you on about? it's not illiquid.
long term average volume is around 10m lastw eek we had three days of 220m, 160m and 180m

[reutersman] 09/10/2012 15:24

minecap,you may find a good look through the recent report useful which
has some facts and figures too.

[moreforus] 09/10/2012 15:19

Mine Cap...its illiquid so worth setting a buy target and dribbling your money in.....


its cheap but still in recovery mode from a nasty and unjustified fall

[mine cap] 09/10/2012 15:18

I have just been reading up on watermark today and must say i am very interested
in taking a decent sized position here.

Has all the ingredients for sure :-)

[reutersman] 09/10/2012 15:15

asixe,as moreforus said they have a current 40% stake in MRI but also have
a number of options for further investment.Its this further investment that
i think we will hear about shortly.

In a recent statement WET said >



"The Company,s net asset value is significantly greater than the Company,s share price even without adjusting for the current market price of MRI (which would make the net asset value nearer to 0.4 pence per share) and we are working to achieve a share price that more accurately reflects the value of the Company."

[asixe] 09/10/2012 14:35

M4, yes i just seen that again,was not sure of exact percentages from memory.

I found this in recent article,the potential contracts for AMD could be big.






"They came up with various different solutions including the monitoring of water (including groundwater and surface water), ways to decrease flooding and other immediate measures that will assist in the improving of water quality. On 22 March, Water and Environmental Affairs Minister, Edna Molewa stated that government takes the issue of acid mine drainage very seriously and is committed to alleviating the problem. However, it still remains unclear where the funding for the solution to the problem will come from. As of June 2012, the amount of funding required for a more sustainable and permanent solution rose to R2.2 billion.

The Water and Environmental Affairs ministry insists that South Africa would need to spend R67 billion on the quality of its water over the next ten years. The National Treasury response to this was that there was no extra money for such an operation and the only possible funding available is budget reprioritisation in the Water and Environmental Affairs ministry."

[moreforus] 09/10/2012 14:19

Asixe it's all in the recent rns...

they own 40%, have the option to acquire the current amount on stock loan at 0.19p....

[reutersman] 09/10/2012 14:05

asixe,there sure are some signs here of something afoot and in my opinion
it can only be to do with MRI,either that or they have another investment
lined up. Either way at current share price well below their NAV its looking like
an interesting period ahead.

[reutersman] 09/10/2012 13:48

moreforus,i just tried to get a quote on MRI and shares are hard to get there
today also except in small batches.I just think that something is going on
and it involves both WET and MRI ( we shall see )

[moreforus] 09/10/2012 13:14

doubtful 2 trades and up 3.7%....
if there was major news leakage there'd be more buys and the price would be higher ....!!

[reutersman] 09/10/2012 13:10

moreforus,its possible someone over on the JSE exchange has got wind of a
news announcement as they have to log their regulatory news well ahead of
the news releases.

Its more of a gut feeling at moment but think we will hear something on MRI investment shortly and it will be good.MRI are also moving up at moment !