Allot of positive buying today. Great volume. Starting to look good on here. :) |
People go to the shops and love a bargain.
Its the same in the stockmarket for many, when it should be the opposite if you want to make money. |
What is your reasoning? Dead cat bounce theory? |
Ready for a run up. |
Naive! (sadly) |
Hopefully the forest can be left alone now. Free from destruction |
Down only 34.5% on the day.
Well deluded ones, you can be relieved that the most you can lose from here is....
100% |
10-01-25 Woodbois has appointed Lucas Kanme as CEO , subject to approval, after the customary director due diligence process.
To which I posted
"fenners66
10 Jan '25 - 17:46 - 1497 of 1533 Edit
LOL
So he knows jack about running the would be logging and cutting business but knows about manipulating shares on a stock market....
Now why does that idea not surprise me ?
Question is , will they complete their due diligence in time ?"
fast forward to today's announcement of they are running out of money and want to start production....
and it's signed off I would suggest a relevant point here.....
"Enquiries:
Woodbois Limited
Clive Roberts, Independent Non-executive Director
Paul Shackleton, Independent Non-executive Director"
Like I said will that due diligence even get done in time for him to put his claim in to any potential liquidator ? |
Must be a re-entry, Terminator. |
African timber.
Or should that read 'timberrrrr' ? |
I think the key thing to bear in mind with WBI is hinted at in this paragraph from the 22nd October trading update. "Our operational focus remains on shipping existing pre-sold stock to customers. This will free up space in our warehouses, allowing us to restart our paused production and ensure that sawn and dried timber, as well as veneer, are properly stored and can be sent out without delay. With the disruptions noted above the Company now expects to ramp up production to 50 containers per month from November." In other words some of the shipments have already been sold and may have had some up-front cash payment. Although shipping the containers is good it may not generate much additional cash. When WBI failed to raise as much in the subscriptions as it had hoped, it was always likely that working capital would suffer. Now WBI are saying the creditors are running out of patience as like shareholders they don't really know what is happening in this company. |
agreed, that RNS suggests "game over"! |
This looks like curtains for WBI - |
Rumours that a JV is about to drop at UFO Alien Metals which is starting to rise from the bottom. Worth a look. |
 Business update
Following the disruption to the business last year, which saw production halt and a number of management changes, the Company is now experiencing the financial effect of this, with tight working capital and a heightened level of creditors. Once production has fully restarted we believe that the business will generate cash and we will be able to normalise payments for all creditors over a few weeks.
The patience of some of our creditors has understandably worn thin, exacerbated perhaps by a lack of communication in the last quarter of 2024, which we are seeking to redress; we note a court decision in Gabon in favour of BGFI Bank ("BGFI"), a Gabon based financial institution, allowing it to commence procedures to recover funds of EUR 790k owed to it by Woodbois. We believe that the best outcome for all stakeholders, including BGFI, our loyal employees in Gabon and long suffering shareholders will be achieved through production. The Company has begun to ship containers of existing stock from the port in Libreville, and is now beginning to move stock from the warehouse in Mouila to the port.
We are discussing with advisers financing options to bridge our working capital needed for production over the next few weeks. Further announcements will be made as appropriate. |
Serious volume this morning. Maybe see an upturn if news imminent. |
Where would ADVFN's Percentage Loser list have been without WBI for all these years? |
JM does not read my posts but I am worried about him/her. Content from JM includes shooting horses, machetes and, if I recall correctly, lynch mobs.
Possibly they are spending more time than they ought to on some of those anything goes social media sites. |
£14K buy, someone is confident. |
Should see an RNS today, at least clarifying position. |
"They shoot horses don't they?" !! |
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