Share Name Share Symbol Market Type Share ISIN Share Description
Woodbois Limited LSE:WBI London Ordinary Share GG00B4WJSD17 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.075 4.92% 1.60 1.55 1.65 1.60 1.525 1.53 12,463,738 14:28:28
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Forestry & Paper 12.9 67.1 2.7 0.5 33

Woodbois Share Discussion Threads

Showing 601 to 619 of 750 messages
Chat Pages: 30  29  28  27  26  25  24  23  22  21  20  19  Older
the problem is - when all get used to it - it is hard to change... one has literally change most of the people. even few ones who are honest are molested and ridiculed for it ....
Henry, Tina sounds great and I hope she recommends more investors to take a look at WBI.

... and why wouldn't she when in this week's update we learned about;

. Record quarterly revenue, up 29% to $5.8m in Q3 2022 vs Q3 2021 $4.5m.
· Record nine months revenues of $17.1m in 2022 vs $12.7m for the same period in 2021, up 35%.
· Group gross profit margin for first 9 months of 2022 further improved to 24% from 20% in FY 2021 and 23% in H1 2022.

and that's just for starters...

That may well assist with the FSC certification, which would open up more markets for WBI.
the main beneficiaries of bullets 1&2 are employees and wood traders.... so employees must like it....
Topped up today.

Kaos 1 - I am very sorry to hear that you had bad experiences in the timber business. Here is a link, which I hope works, to staff at Woodbois speaking positively about working in the business.

WBI feature employees in social media which I like as it helps me feel more of a connection to the company as a long term holder.

I understand that good employment practice is an important element of FSC certification and so WBI will be externally "audited" on how they look after their employees as part of obtaining and retaining certification.

blue - management (office workers) participate only at the third bullet point
Kaos3 It has been a “gold mine” for the bod and management over the years!
if the wood is planted and grown - there is less scale for cheating .... as it comes to industrial mono quality and harvesting
I was taken to the cleaners many times and still am .. but less frequently now...

this Co could be a gold mine - but is not

it is one of the most difficult businesses because:

people lie about how much wood did they really cut (all measurements are rough), the largest variable is wood quality segmentation (price differs several 100 % on that), what price is one getting from the purchasing organisation

all the fat gets skimmed from the milk in the process:

1. quantity - up to 15 % diff
2. quality segmentation - up to several 100 % diff
3. "market" price achieved - up to 20 % diff

if not in the forest - above happens as sure as the sun shines

and all seems ok and real and there is no proof of anything wrong

look - when one owns ripe forest - one HAS to make money. if not - one is stupid or a crook...

I am in the business.

just take one tree: I sell it as it is in the forest - I get 30 EUR/m3

no chance to loose money

I can improve margins - I cut the tree my self and I get it to the road - I get 50 - 70 EUR.

etc ....

no way of making negative cash flow. specially in Afrika where there is cheaper labour and more expensive wood.

So the biological asset value in the 2021 accounts was not a figure plucked out of the air by the company as JK would have us believe.

On the contrary, it was robustly checked and audited by the auditors.


Your reference to the auditors' view of the value of biological assets was also misleading. You set out what was considered a key audit matter. You neglected to also set out how the auditors addressed this matter. By failing to provide full information you have once again sought to materially mislead others.

Here is what the auditors said they did to follow best practice in confirming that biological asset value was accurately estimated - all set out under the heading "How our scope addressed this matter"

Our work included:

"· Reviewing the biological asset valuation models prepared by management for accuracy and challenging the estimates/assumptions made in the inputs;

· Reviewing the discount rate used and challenging the key inputs involved in arriving at the rate applied;

· Reviewing the sensitivity of the key inputs, together with a combination of sensitivities of such inputs.

· Considering if there are any indications of impairment; and

· Reviewing disclosures in the financial statements to ensure they are in accordance with IAS 41, particularly the disclosures of key estimates and assumptions which impact fair values and the sensitivity analysis."

Fenners - for good and balanced contributions on WBI you might also want to read Jonah58 on another platform with the same initials as a London University, which is also a platform where it can be hard to find helpful posts. Here is Jonah58's post after the Q3 update:

"A good set of results, very much in line with expectations, with more to come from the second veneer line in Q4. The BoD continue to keep shareholders in the loop which a strong positive in my book. Nice also to see a pilot carbon credit project on our own concession - no harm in demonstrating proof of concept whilst trying to attract an investment partner and waiting for the wheels to grind.
My only worry continues to be our lack of diversity when it comes to jurisdiction. No mention of Moz, and we are cutting back on third party trading. I am not suggesting Gabon won't continue along its peaceful and profitable trajectory but, in the fulness of time, I would like to see investment in other jurisdictions. I have added a few more this morning."

My thanks to you both for engaging in a debate.
There are not many on advfn worth reading these days.

Actually quoting from the accounts and countering with differing assets on accounts years apart etc. is reasoned

Most of the arguments we read on BB's these days are not.

I was asked to take a look at this company a few weeks ago and rejected it as an investment , it's more of a gamble.

However I read through the latest RNS and was surprised to see it was coherent - they had tried to string a list of reasons together.

Most of the junk narrative companies say very little about the numbers and merely promise things are going to get better.

That said - the proof is to come , can they actually make the progress they suggest ?

The market didn't think so today , but in 6 months time ?

I hope you guys keep up the debate and stay on topic arguing the numbers is far more useful than questioning each others motives.


As I have set out in the above posts, you have made materially misleading arguments to attempt to support your negative slant on this company.

You referred to the different figures for the valuation of assets in 2016 and 2021 and did so on the basis that the assets were the same in both years. This was misleading because the assets were different at the different dates. By 2021 WBI had, for example, acquired an additional 71,000 hectares of forest in Gabon.

You referred to details which you claimed that the company had left out of the update. But the details you quoted were in fact taken directly from the company update and so had not been left out as you suggested.

I have no objection to people making arguments or giving opinion based on the facts. But when people try to ramp a share or denigrate a share based on misinformation then they are not acting in good faith and need to be called out for that.

The Q3 update was good news and a good comprehensive update and I would urge investors to read it. In recent years the company has said what it is going to do and has gone ahead and done it by investing well in land, buildings, machinery and infrastructure and the latest update reinforces my view that the steps that they have taken were steps that have moved the company in the right direction.


Just to add JK

You compare two valuations of biological assets in 2016 and 2021 as if they are two valuations of the same assets.

They are not. For example, the 71,000 hectare purchase of forest in Gabon was made in August 2021. So its value was not included in the 2016 valuation. No doubt there will be other differences in the assets held in 2016 and 2021.

It seems to me that the 71,000 hectares of forest in Gabon that WBI purchased in 2021 was a prudent purchase.

Me thinks the JK doth protest too much.

I am intrigued. What is your interest in putting so much effort into trying to deny that WBI have just submitted excellent results? One only lives once and you are trying so hard.

Are you anticipating a Take Over bid and hoping you can buy at a lower price?

Or are you hoping to buy up shares at a lower price before the recent good results become more widely known?

You mentioned financial analysts in an earlier post.

After the latest results, the financial analysts Canaccord said;

"We continue to base our 7.0p target on long-term and peer group multiples and the audited balance sheet value of the forestry assets (8.3p). We expect the group to become net profitable in 2023E. At our 7.0p target the stock would trade at 33x/21x 2023E/24E EV/ EBITDAS, which we believe is appropriate given our methodology,"


On the biological assets valuation, of course auditors will be cautious and include pro forma clauses with their opinions.

But remember JK, assets can go up as well as down in price.

The audited valuation of WBI's biological assets was made before the very recent positive news about carbon credits certification for Gabon, (as referred to for example in this Forbes article);


So the valuation of the 71,000 hectares of forest WBI own in Gabon may need to be looked at again on the basis that it is too low and needs to be uplifted.


JK the numbers are there for any shareholder spending a few minutes reading the update. If you found it hard work or needed help from a financial analyst to read the update then that is rather odd.

Companies need to invest to grow. That is prudent. I have seen no evidence of misdirected investment. As I understand it money has been sensibly spent on means of production and infrastructure (such as roads in the forests)

I would urge investors to read the update in full. For example, veneer production was held up by delayed parts and so even greater revenue is expected in Q4 now that the parts have been received.

It was a very positive update and to seek to paint it as otherwise is barking up the wrong tree.

You're not part of Anglo Eastern Plantations by any chance trying to soften the WBI price with a view to a take-over bid? On assets alone the bid would need to exceed 8p a share.

Chat Pages: 30  29  28  27  26  25  24  23  22  21  20  19  Older
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