Australian (ASX) Stock Market Forum

WEC - White Energy Company

Jump to new
I've just taken a small "long position" in WEC at 21.5c. I'm curious if any of you longer term investors have anything interesting to add to the standard information available on the WEC website.
I like this type of tech company, and the sp seems to be placed at a price with a great deal of upside. Of course
any third party negative due diligence is always welcome :)
 
SP up to 24.5c with a high of 25c, with average daily volume.
Have all you former WEC investors given up on this one?
 
White energy to acquire a coal mine in the US.
www.proactiveinvestors.com.au/companies/news/37384/white-energy-company-to-acquire-us-open-cut-coal-mine--37384.h
Any thoughts on how this may effect the SP?
 
qldfrog said:
maybe no one is really that keen to put any money into a company whose management which might soon be officially labelled as corrupt:
http://www.smh.com.au/business/pity-the-white-energy-shareholders-20121211-2b6ft.html
or any link to the Obeid saga in NSW
I will let the justice decide who is clean/guilty but I have made my own mind and will not touch this or any rebranded follow up
Click to expand...

Hey qldfrog... Thank you for the link. Nice to get some history on "White".
And I thought corruption was rife in Indonesia, Thailand and Malaysia, to mention but a few.
I hope you avoided being tricked by the suspected villains.
Happy new year to you :alcohol:
 
Buying by directors Vincent O'Rourke and Terence Crawford, in the last few days, has helped WEC recover from an all-time low.
 
Just over a year has gone (since the last posting) and things are looking on the up for the company.

A summary of the major items of activity for White Energy Company Limited (“White Energy” or the “Company”) during the quarter ended 31 March 2015 is outlined below.the “Company”) during the quarter ended 31 March 2015 is outlined below. If you would like to read more, then click on the link below.

http://www.stocknessmonster.com/news-item?S=WEC&E=ASX&N=855538


HIGHLIGHTS

• Completed commissioning of the new MCC coal wash plant in late February 2015, with over 20k tons of ROM coal washed through the plant to date

• Generated a further US$5.5m in coal sales revenue at MCC during the quarter, and US$13.7m since July 2014, including sales of low-ash stoker coals at premium pricing

• Continued work on the detailed engineering and design study for the proposed construction of a 500,000 tonne per annum BCB plant with a major South African coal producer

• Continued to review opportunities to acquire coal concessions in the Kalimantan region of Indonesia, which include coal upgrading opportunities requiring application of the BCB technology.

• Continued to progress the R&D program at Cessnock Production Plant

• Work continues on legal dispute with Bayan Resources relating to terminated KSC JV, with the case transferred to Singapore International Commercial Court, paving way for an expedited hearing timetable.

150508 - WECs.jpg

Please Do Your Own Research:)
 
Time for me to start buying more stock this morning at 11c a share. Could have stuck around hoping to get some a tad cheaper but the result from the Singapore court could come anytime and the odd half cent matters little in that event.
Market cap around A$33 million with claim up to A$1.1 billion, looks a fair punt. Gamble is on the courts decision and how long we have to wait for it - remember, there could be an appeal and if one party's representative or a judge becomes ill or dies, there would be further delays.
 
noirua said:
Time for me to start buying more stock this morning at 11c a share. Could have stuck around hoping to get some a tad cheaper but the result from the Singapore court could come anytime and the odd half cent matters little in that event.
Market cap around A$33 million with claim up to A$1.1 billion, looks a fair punt. Gamble is on the courts decision and how long we have to wait for it - remember, there could be an appeal and if one party's representative or a judge becomes ill or dies, there would be further delays.
Click to expand...

At 11.5c and supported by buying of shares by the Chairman and MD. A gamble on the Singaporean courts and Appalachian coal prices - a gamble indeed that might just come off. Some hopes remaining of securing coal supplies from the Phillipson coalfields to SA power-stations and still profitable for sheep and wool sales.
 
Now bouncing off a 5c low and 260% up in a matter of weeks. Appalachian coal prices firmer, Aussie stronger, and thoughts about that A$1 billion claim in Singapore. Were looking cheap at 5c and maybe a long way to go yet for White Energy on the recovery front.
 
The Arbitration award, damages and costs should be known this month. WEC appear cheap if the award gets above US$10 million plus damages and costs. Company hopes for US$110 million plus damages and costs.
 
noirua said:
The Arbitration award, damages and costs should be known this month. WEC appear cheap if the award gets above US$10 million plus damages and costs. Company hopes for US$110 million plus damages and costs.
Click to expand...

The original claim by WEC against Bayan in Singapore amounted to A$1.1 billion. This figure has not been mentioned again since that claim was originally broadcast. An amount of A$110 million is indicated by White Energy as to their expenditure on the Tabang project. There is also the costs since 2011 the company has endured. In addition they are claiming damages. If WEC receive full awards they will not get A$1.1 billion but nearer A$200 million. Bayan take the view that the award will be nominal and only address non-compliance to coal supplies to the test plant stages and costs.
http://www.lawsociety.org.sg/jusnewsg/newsletter/201707/article13.aspx
 
WEC is one of my worst investments ever. Still, never give up on a stock as it can turn at mega-low levels - High $4.20 and Low 2.6c. I'm now holding 18 times the amount of stock held during its great collapse. Needing about 9.5c to get level again and with the Singapore Arbitration Third Tranche decision due fairly shortly that could happen.
Very high risk and at times difficult trade. These shares now have potential on the sale of American coal interests, South African Coal Fines, Gold exploration and the Singapore Arbitration decision. The company also has coal interests at Phillipson in Far North South Australia, the size of England. Now a micro-cap with mid-cap assets.
 
Well, there you goes. Bayan have appealed the second tranche decision in Singapore and White says on virtually all counts. Another blasted delay that started back in 2011. At least Bayan's shares in Kangaroo resources are frozen and presently worth $57 million.
 
noirua said:
Well, there you goes. Bayan have appealed the second tranche decision in Singapore and White says on virtually all counts. Another blasted delay that started back in 2011. At least Bayan's shares in Kangaroo resources are frozen and presently worth $57 million.
Click to expand...
Hi Noirua, what do you mean ""and White says on virtually all counts.""
 
Knobby22 said:
Hi Noirua, what do you mean ""and White says on virtually all counts.""
Click to expand...

All the news on White Energy can be seen at this link - https://stocknessmonster.com/news-history?S=WEC&E=ASX&Year=2017

News on Bayan Appeal: https://stocknessmonster.com/news-item?S=WEC&E=ASX&N=1031680
Update at Pages 3 and 4 - in the Full Year Statutory Accounts: https://stocknessmonster.com/news-item?S=WEC&E=ASX&N=1039877
A notice of appeal against substantially the whole of the SICC’s findings against Bayan in the tranche two judgement was subsequently filed by Bayan on 24 August 2017. Bayan has two months from that date to file submissions for appeal with SICC and following that the Group has one month to file a reply. The appeal is fixed for hearing on a date between 5 February 2018 and 13 February 2018.

Assuming Bayan’s appeal is not successful, the third tranche of the trial will be to determine causation and damages that are required to be paid to the Group. The Group may be liable for costs should the Court held to determine causation ultimately decide to award costs against BCBCS and BCBC in future proceedings.
 
Last edited:
WEC still doing badly with the shares close to the floor at 3.3c. A shocking performance indeed from quite high profile directors - hopeless.
 
WEC are recovering from dastardly lows and up 100% at 5.2c a share. Awaiting news of Appalachian coal tenement sales and tranche 2 appeal in Singapore in February. IF all goes well the Appalachian coal sales will bring in over US$10 million and the Singapore tranche 3 award well over US$100 million.

The Mountainside Appalachian coal tenements have had over 160 wells drilled to firm up coal reserves with some blue gem coal.


QUARTERLY ACTIVITIES REPORT to 30th September 2017
Http://www.whiteenergyco.com/wp-content/uploads/2017/11/Quarterly-Activities-and-Cashflow-Report-App-5B.pdf


ANNUAL REPORT 2017
Http://www.whiteenergyco.com/wp-content/uploads/2017/10/Annual-Report-to-Shareholders.pdf
 
The Appeal at the Singapore Court of Arbitration is fixed for hearing on a date between 5 February 2018 and 13 February 2018. The White Energy Group had invested over US$110 million in the Tabang project in Indonesia up until 2012 when BR repudiated the joint venture. Substantial legal costs have also been incurred in relation to the proceedings to recover damages from Bayan.
 

Similar threads

R
The 7 Moats of Quality Companies
Replies
7
Views
6K
divs4ever
divs4ever
springhill
TCN - Techniche Limited
Replies
4
Views
5K
System
System
Top