Still a highly tradeable share Screenshot_2018-09-23 LON WSG - Google Search.png717x495 18 KB Although I don’t currently hold a position myself, I may be tempted below @10p
Optimism French oil giant Total has announced that it is pulling out of Iran by November 'unless some accommodation supported by French and EU authorities can be reached with the US on its sanctions policy' [or similar wording]. Total, of course, has huge interests in the US market.However, an interesting director appointment by WSG announced today sending a very positive signal at this time of uncertainty for the group.From the RNS:"Patsy Baker is well-known and respected within the City and has considerable public relations and marketing experience, having spent over 20 years as the Group Business Development Director with Bell Pottinger. In November 2017 she joined Huntsworth PLC as Senior Group Advisor.Patsy's appointment brings a broader range of skills and diversity to the Board and is in line with the Company's strategic growth plans and board development.Patsy will be joining the Nomination, Remuneration and Disclosure Committees.Commenting on Patsy's appointment, Westminster's Chairman, Sir Tony Baldry, said:"We are delighted that Patsy Baker is joining the Board. Patsy brings enormous experience of companies growing their global business."Commenting on her appointment Patsy Baker added:"I am pleased to be joining the Westminster Group at this time in their evolution. Westminster is an exciting business and I look forward to assisting the Company achieve is growth potential."
Re: Checked in Welcome one way. A 4 bagger just on the Iran deal going ahead is my short term target but with other deals in the making this year then not impossible for 8 bagger from here.Great progress in tricky negotiations this year so all to play for.
Checked in I read the Final results this morning and liked them so decided to checked in again. Don't mind if I join you on here again Owo, Noville, Eadwig etc.Target price for me that I would be happy with is a 4 bagger with Iran fully completed. The prospects there are simply mouth watering.It's all ISA'd so tax free and mid to long term frame of mind.One of several recent purchases and top ups, some for income and some speculate to accumulate.Own due diligence
Good progress Gold solid set of results with good confidence still of the Iran contract going ahead.Further progress on another long term contract too so good news there and taken the hit on the ferry so any sale of the boat straight into coffers as a bonus.Be good to see some director buying on the back of these results to really push the point of solid progress being made.Where e,she can you have a circa £300 million contract signed and ready to go with a company with a market cap of circa £15 million?!Hence my top this morning. Good luck all.
U.S. Sanction Power May Be Reaching Its Limit This Bloomberg article says what I suspect many don't want to acknowledge:Now that the bigger players have a motive to find ways around the dollar, he says, there's no technical reason why they couldn't succeed. Europe and China have banks, he says. One of these days, the U.S. is going to talk the dollar right out of its international role".[link] wait, is Bloomberg an acceptable news source, I wonder?
Re: Will EU pull it off? If they do, will it help a British company post Brexit?Rhetorical question, obviously, as absolutely no one knows the answer to that one as things stand, but Boeing's representative on the BBC this morning clearly doesn't think so, in my opinion, although he wouldn't expand beyond Boeing and Airbus both complying with what he termed WTO rules (I didn't get his logic there, but missed first part of interview).In fact, when asked to give a view on how UK companies would stand post Brexit he couldn't stop himself laughing before dodging the question.
Will EU pull it off? "The options being considered by the bloc to keep Tehran in the nuclear deal reportedly include new credit lines, increased energy cooperation and implementing EU laws to block European firms from caving in to US sanctions"[link]
Re: Europe to ditch US dollar in payment... The problem is with chasing the US business is that you dance to the tune of the puppeteer .
Re: Europe to ditch US dollar in payment... velocipede, "companies seem to be shunning Iran for fear of losing US business. "Its the same with the banks and many others. They pay fines that seem to be dreamed up by the Dept of Justice in multiples of Billions of USD ultimately to retain access to the US market. Otherwise they could just tell them to get stuffed and not pay one thin red cent to a body that ultimately has no actual jurisdiction over them.They all seem to think its worth it. Not just British banks but other European ones too, and of course any drug or oil company cannot afford to lose access to the US market.I'd like to know where the recent car screening contract quoted as being worth $4.5m is. The middle east somewhere, but is it also in Iran? The fact its quoted in USD seems to indicate not. If not overshadowed by the airport contract, this would have been a major piece of news for WSG all by itself and may well explain why the market hasn't discounted the price further amid the Iran uncertainty.I wish WSG would give more detail about it. An existing middle east customer really isn't enough, is it?
Re: Europe to ditch US dollar in payment... Aye - good idea. No, you both make valid points, but it's a bit worrying now that a lot of companies seem to be shunning Iran for fear of losing US business. [link]
Re: Europe to ditch US dollar in payment... Eadwig, fair enough. Let's move on
Re: Europe to ditch US dollar in payment... Bunny007,Of course we should all take media sources with a pinch of salt, especially as the basic ethics of journalism (never publish without at least two verified sources) seem to have become absent from many an outlet these days. I sourced Wiki for the piece on RT because it in turn rigorously references every assertion made ... at least in this piece saving me the effort. Obviously other parts of Wiki are worse than useless as a source of info.Why target RT? you reasonably ask. Simply because this particular story is massively political - obviously - with Russia, Syria, Iran (and others) on one side and the USA, Saudi Arabia, Israel etc on the other, with poor old WSG getting potentially squeezed in the middle of it all.Specifically, therefore, Russia's active involvement in this area means that RT is a source that should be treated with an even higher degree of the usual scepticism when it comes to this particular news item (Iranian deal/ US sanctions etc).As for concentration of media ownership, anyone who had followed my posts over the last 30 years would know that it has always been my assertion that globally we will end up with perhaps six to a dozen media outlets, including news, entertainment, research sources, communications etc etc which will carve up the global market between them. Some of these will probably be state owned.Indeed, much of my long term investment strategy is based on this belief. People used to laugh at my thesis, but it doesn't look so off-the-wall these days, does it?
Re: Europe to ditch US dollar in payment... Eadwig, I take all news sources with a healthy pinch of salt and generally try to cross reference where possible. RT has actually proven quite useful in this regard. But why pick on RT? Do you seriously think they are the only outlet to spin a narrative for some ulterior motive?If you're going to throw wikipedia at me (lol) then I'll return the favour; see the sub heading "Risks for media integrity" on this page:[link] IMO, DYOR.
Re: Europe to ditch US dollar in payment... Bunny007, "Hopefully we don't need to waste any more of this forum's space ... with draconian policing of each other's sources of information."You don't need to engage with me, fair enough, but unfortunately it is an error these days not to question people's sources of information if these boards are going to remain useful to investors.I'll leave you with the following from Wikipedia, which I urge you and others to consider carefully and I also note that so far as I know you only ever quoted them once. Good luck with your investments."RT is a brand of "TV-Novosti", an "autonomous non-profit organization", founded by the Russian news agency, RIA Novosti, on 6 April 2005. During the economic crisis in December 2008, the Russian government, headed by Prime Minister Vladimir Putin, included ANO "TV-Novosti" on its list of core organizations of strategic importance of Russia.RT has been frequently described as a propaganda outlet for the Russian government and its foreign policy. RT has also been accused of spreading disinformation by news reporters, including some former RT reporters. The United Kingdom media regulator, Ofcom, has repeatedly found RT to have breached rules on impartiality and of broadcasting "materially misleading" content. On 13 November 2017, RT America officially registered as a "foreign agent" with the United States Department of Justice under the Foreign Agents Registration Act. "[link] for the full article and multiple attributions of all claims made in the paragraphs above.