Wogen Share Discussion Threads

[aleman] 18/11/2005 11:44

I have bought a modest stake this morning. Bit risky but very cheap with a very healthy prospective dividend. Ok as a small part of a larger portfolio. If things look well at forthcoming results, I could see them doubling.

[fromtheblue] 18/11/2005 09:14

Topped up again this morning - share price heading the right way. Comments re continued growth in the Chinese economy very positive for Wogen.

[nurdin] 18/11/2005 08:59

Looks like start of a decent rise..will suggest a name change to the Management..might improve sentiment :o)

[tonyx] 18/11/2005 08:07

Another 2k for me.

[cockneyrebel] 17/11/2005 21:06

Cheers

CR

[wjccghcc] 17/11/2005 20:41

Welcome aboard.

[tonyx] 17/11/2005 19:59

Me too! Had me first dip into these early doors on Tuesday. I was alerted to WGN by an article in SHARES mag last week or the week before.

[cockneyrebel] 17/11/2005 19:04

Yep, I'm one of them :-)

CR

[nurdin] 17/11/2005 17:22

Well I,and a few others I know, dipped our toes in here today.You are in good company now I assure you lol :o)

[spooky] 17/11/2005 13:32

Don't worry it was a good post so i'll let you off :-o)

[jaygino] 17/11/2005 12:54

Would agree on that Spooky - didnt think to mention that :-(
I also forgot to mention the rather tasty 5.5% Yield.

[spooky] 17/11/2005 12:10

Jaygino - One thing i would add is that the two directors who joined the company this year took the opportunity to buy 570,000 shares in the placing at £1.22.I regard this as significant particularly in view of the individuals involved,£700,000 is a meaningful sum.

Richard Nelson - 409,836 shares
David Munro - 163,934 shares

[rambutan2] 17/11/2005 11:12

duplicate.

[rambutan2] 17/11/2005 11:10

the way i look at it wgn is a sort of a hedge fund with a business, which pays a good div and is a nice play on the bric story. has a long and successfull history, big management stake. something a bit different.

[wjccghcc] 17/11/2005 10:56

Good post. Agree with it all. Thanks Jay.

[jaygino] 17/11/2005 10:53

I have put a few thoughts in the Pub - please feel free to add any comments

[tuffbet] 16/11/2005 10:46

sorry error should have posted elsewhere

[spooky] 16/11/2005 10:30

Well something definitely happened yesterday because you can't buy them for love or money today.

[spooky] 16/11/2005 08:43

So it was you who spoiled the market,you b------ :-o)

[wjccghcc] 16/11/2005 08:30

Added quite a few yesterday. Lucky timing.

[spooky] 16/11/2005 08:21

The next few weeks will be interesting.On the 17th of January the results will appear and confirm that the company is on a PE of 3.5 and has a yield of 5.5%.If there are any constructive comments with those numbers then the shares won't be trading any where near here.

[fft] 09/11/2005 15:43

To put the slightly negative side.

I seem to recall a resource/metals trader going bust a few years ago as they got it wrong. forget the name. Presumably WGN are trading on a lot of margin, so if prices move the wrong way they can get hammered.

If the price reached 285 then the yield would be down to about 2.5% (they only promised to keep div payments at 3.3m - its only 6% yield at 122p). so it would no longer be a div player as well.

If you believe that china will grow at 8%+ for the next few years then this should be ok.

If 4% is considered a good div and a P/E of about 5 suits a risky play, then a price of 185 is where it will go. which is still a reasonable upshift. imho !

[jaygino] 09/11/2005 10:06

Guess that these could well drift down to below the placing price until there is some news to kick-start them. Perhaps when the full year results are out confirming an after tax profit of 16.1m for the full year to September. at current prices, this would put them on a PER of ca. 3.5. I spoke with someone at Bridgewell a few days ago when requesting a copy of the admission document - I got the impression that the 16.1m FY profit figure was in the bag. Forgot to ask when FY audited results would be published - anyone know ?

Although this is obviously not without its risks due to cyclical nature of business and fluctuating metal/mineral prices, there is obvously the potential here for a major rerating. Given that profits have been increasing year on year from 0.5m in 2002 to a forecast 16.1m this year, together with a proposed yield of 6% , surely a P/E of 8-10 would be more appropriate. Fair price value target is therefore 285p-360p. Thoughts or comments anyone.

As always this is all IMHO -DYOR etc etc....

[rambutan2] 03/11/2005 23:08

confirmation of indy stake...