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WEC - White Energy Company

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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.
 
noirua said:
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.
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WEC hope to receive a minimum of US$110 million plus court costs and damages. The original claim was for US$750 million.
If WEC win in this appeal by Bayan then hopefully they'll get around US$200 million or A$250 million in tranche 3.
 
WEC are still lightly traded making it difficult to buy or sell large amounts of stock. The share price can rise or fall quite abruptly.

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. The appeal is fixed for hearing on a date between 5 February 2018 and 13 February 2018.
 
noirua said:
WEC are still lightly traded making it difficult to buy or sell large amounts of stock. The share price can rise or fall quite abruptly.

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. The appeal is fixed for hearing on a date between 5 February 2018 and 13 February 2018.
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The Appeal Hearing was reported to have started on Wednesday 7th February at Singapore's Arbitration Court. WEC's shares are expected to go into Trading Halt before a decision is made.
 
noirua said:
The Appeal Hearing was reported to have started on Wednesday 7th February at Singapore's Arbitration Court. WEC's shares are expected to go into Trading Halt before a decision is made.
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This must be one of the worlds most frustrating stocks. In Aussie courts all over Australia from 2011 to 2015 and then in the Arbitration court in Singapore - 6 years and 4 months have passed. Still, we are only at an Appeal to the Tranche 2 court decision and there is still Tranche 3 that could be followed by a further Appeal. That will probably be 2019 and then I doubt it will all be over.

The White Energy shares trade between 6c and 7.5c. If all goes well and WEC get A$200 to A$250 million, which they should get as a minimum, then WEC shares should rocket. At a complete guess up to 600%, however, the market thinks not. Is the market right?
 
Life wanders on but White Energy looks bedraggled, lifeless and without much hope. One for those who loves boring and can sit and wait. You might be rewarded.
 
This could be an all cash down the plughole stock or 2018's biggest high flyer. If the Arbitration in Singapore goes well and they manage to get $300m from Bayan and they sell their interests in Mountainside and coal tailings in South Africa for top dollar. Then the shares wont be around 5c each they will rocket towards $1.00.
 
noirua said:
This could be an all cash down the plughole stock or 2018's biggest high flyer. If the Arbitration in Singapore goes well and they manage to get $300m from Bayan and they sell their interests in Mountainside and coal tailings in South Africa for top dollar. Then the shares wont be around 5c each they will rocket towards $1.00.
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Are you on board this potential rocket. Anyway, if you have cash to bet it looks a good old horse - needs new legs.
 
If the outcome of the appeal in the Tranche 2 court case versus Bayan is successfully completed in favour of White Energy. Then the recent rise in Kangaroo Resources shares KRL will be very favourable for the company. Bayan have their 54% holding in KRL frozen by courts in Australia and approved by the Arbitration court in Singapore.
KRL's market cap is now $137.3 million making the Bayan stake worth over A$74 million.
 
WEC's shares went up 26% in very light trading. Shows how fast the shares could move with trading moving from very light to light.
KRL's shares went into voluntary Trading Halt whilst they conjure up a reply as to why their shares jumped by 100% in a few days. Bayan's 56% holding is frozen by Aussie Courts whilst the outcome of the Arbitration Court is announced between Bayan's subsidiary and White Energy's subsidiary.
WEC shares look a well balanced gamble.
 
noirua said:
WEC's shares went up 26% in very light trading. Shows how fast the shares could move with trading moving from very light to light.
KRL's shares went into voluntary Trading Halt whilst they conjure up a reply as to why their shares jumped by 100% in a few days. Bayan's 56% holding is frozen by Aussie Courts whilst the outcome of the Arbitration Court is announced between Bayan's subsidiary and White Energy's subsidiary.
WEC shares look a well balanced gamble.
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KRL shares are currently trading about 180% higher than before the PT Bayan interest was first rumoured. 56.05% of the company's shares owned by PT Bayan are now worth A$105 million.
 
WEC shares continue to fall in very light trading and no sign of substantial holders buying despite a former director gradually unloading. I've hung my hat on this one and paid an average 3.67c a share. High is $4.20 and low at 2.6c. One for those who like a merry punt.
I find Aussies not too keen on taking a chance on mega-high-risk shares. Americans seem to ignore the micro-cap disasters though UK investors and even Germans will chance, not their arms, but a finger or toe nail.
 
The bet here for the positive in life is that White Energy will receive about US$110 million and about US$24 million in interest and costs. That would make about A$180 million against a market cap of A$14.5 million at 4.4c a share.

The bet negative is that PT Bayan wont pay up or the Singapore Arbitration court will not award as much as thought or PT Bayan will win some concessions at the Tranche 2 appeal - decision to be announced later.

Is it worth a few dollars as a punt or not?
 
WEC - White Energy Company
From the above posted on the Kangaroo Resources KRL thread.

It is possible that PT Bayan TBK have plans to bid for White Energy through Kangaroo Resources. Bayan are presently in talks with KRL concerning acquiring the outstanding 43.95% shares in Kangaroo.

If KRL bid successfully for White Energy WEC, then any award by the Singapore Commercial Court due to WEC would in fact be paid to a company 100% owned by them.
Therefore a bid for WEC shares, presently 3.3c, could be as high as 20c about 6 times the present share price and worth A$65.5m (US$50m approx).

PT Bayan would gain 100% rights worldwide in WEC's BCB technology, assets at Mountainside in the United States, coal fines interests in South Africa, and the coal interests in North South Australia at Phillipson (the size of England). All these as a bonus.
 
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noirua said:
The Ingomar trial pit was first brought in to supply the Pig iron plant near Whyalla - this all fell apart in 2002 when the plant was cancelled - all a bit of a disaster at the time. The set-up there is good but the seams are single in nature and not multiple as in more favourable areas and a longway from the Phillipson siding.
A lot of money was spent on the Ingomar trial pit and it is all but up and running, despite being mothballed in 2002. Quite a lot of coal is lying on the surface under covers and a large area is cleared ready for excavation.
There ia a briquette plant and wash plant though I'm not certain of the positions, built in 2001.
However, there are two other places earmarked somewhere near the Phillipson lake for power washing coal though I seem to remember the idea was abandonned.
Corner Gate is the best area to mine coal at Phillipson as it's in very many multiple seams, though not that much work was carried out up to 2001.
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The coal is low grade known as steaming coal and good for Southern Power Stations in SA but unfortunately no longer required. Gasification is the future hope for the 4 billion tonnes of coal at Phillipson.
 
If a person is willing to lose everything on the hope or expectation that WEC will be awarded a very large sum, maybe over US$200 million, in their Arbitration court case in Singapore versus PT Bayan Tbk and that they will be successful in getting most of the cash from Bayan. Then this is a gamble stock worth taking a punt on.
At 5c a shares the market cap is A$16.7 million

White Energy are presently accepting bids for their 51% owned coal assets at Mountainside in the states.
 
Last trade a few days ago at 5c a share with bidders up to 5.3c and lowest offer at 5.9c - close on Friday. If all moves into place then 25c to 30c is on the cards. If all turns bad a placing will be made and you will probably lose more than half your investment. Odds look fine to me - mostly on the likely outcome of PT Bayan TBK's appeal against the decision in favour of WEC at Tranche 2 in the court case in Singapore.
 
noirua said:
Last trade a few days ago at 5c a share with bidders up to 5.3c and lowest offer at 5.9c - close on Friday. If all moves into place then 25c to 30c is on the cards. If all turns bad a placing will be made and you will probably lose more than half your investment. Odds look fine to me - mostly on the likely outcome of PT Bayan TBK's appeal against the decision in favour of WEC at Tranche 2 in the court case in Singapore.
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Buying WEC shares needs patience as few shares seem available unless you want to pay nearly 6c a share. About 18% over the last trade price at 5c. The reason for the 66% rise appears to be due to the MD buying all the shares that were gradually being drip fed into the market by a former director.
 
WEC appear always to release a quarterly report that just beats the deadline. So expecting it on Tuesday 31st July.
Cash is getting quite tight now though asset sales and coal sales should see the quarterly cash used at under £200k. The much delayed Mountainside Coal asset sales in the states is quite vital now although White Energy may be angling to hold on to this coal reserve as prices firm for blue gem coal in the Appalachian region.
WEC hope to be awarded their US$110 million expenditure on Tabang plus interest since 2011 and legal costs plus damages against Pt Bayan TBK by the Singapore courts. The original claim in 2015 was US$750 million. Hopefully they will get a total award around the US$150 to US$300 million mark.
 

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