Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Magufuli will miraculously recover from Covid and the Tanzanian people will rejoice and dance in the streets and EDL will hit £100.00 #fact
What I'm saying is people cross him at their peril, what he says goes, he doesn't listen to any body else, hence the problem with CPP and administration. I did mention the church as an example, the rest of the population have suffered in a like manner.
esquimo - I think we can all probably read enough into the state of our operations. We've spent the best part of 3+ years (since October 2017) trying to get economies of scale from our mining.
There is nothing in the public domain that clearly demonstrates this has changed - if anything, it's the opposite - the reason we have signed the agreements with ILTL is to completely modify our current mining business model, because ours doesn't work. We lose money on every tonne of coal we sell under our existing business model. In 2019 we made an operating loss of £1.85m.
We're not currently struggling to pay our way - we raised £900k in January, but then we raised £1.2m in two chunks in January and June 2020, to add to our Lind loan. That’s clearly all gone as we’ve had to raise more cash. We can't make any margin on our operations - we need to issue shares to plug that financial hole.
I get the problems in Tanzania and all those other things working against us, as that's part of being invested in any share, but the market isn't bothered as we're now heading towards 7months since we should have handed over. It sees the fundamental issues we have, it sees the seemingly continued excuses in our RNSs and our share price reflects that.
The handover is absolutely fundamental, but we just can’t seem to get it over the line.
Esquimo I dont understand what you mean about his church goer influence with the mine not being handed over? Sorry if I'm
Misunderstanding
3.14, If you doubt his influence as a church goer, check on the number of nuns and priests that have succumbed to c 19 warranting a plea from the catholic church to change his policy on c 19.
Aerial that was my thoughts was he moved or he asked to be moved over as this latest mess has happend.
Intriguing as to why Jeff Malaihollo is, (and still is) CEO & Chairman with no official statement on Alistair Muir. Also I don’t think anything further has been added regarding Nicholas von Schirnding since his appointment in June 2020. ...or have I missed something?. ...
Esquimo why would we not be handing the mine over because the president is reportedly ill? Makes no difference to us.
are you saying every company in the country cant operate without him?
esquimo
Hopefully someone with a modicum of intelligence, but I wouldn’t hold your breath!
What we don't know is what current income they have,
Is it the pre paid contract or is that plus other contracts?
There's nothing in the previous update to suggest they are struggling to pay their way. They are continuing to work with ILTL and pursuing further contracts.
The concern is who will take over from Magufuli?
I can't see any decisions being taken until his health is decided?, ??? on a ventilator at the mo. Who would risk upsetting him?
- The company will pay Lind US$116,000 in cash, being 20% of the outstanding debt, by 31 January 2021;
"Monthly Lind payment"
The P&L suggests we burn c£100k a month. We can potentially pay Lind in shares, only by mutual agreement though.
Our first Lind payment isn't due until the end of next month.
Given our cash burn rate, the handover is pretty fundamental.
Problem now is how long is that fund raise cash going to last? Approx 25% gone to lind already plus paying mine fees to keep this open.
Unch
Unch.
Any predictions?
....then folks.
With only 4 trades I'm not sending a RNS, but it could happen I guess
T
M
x2
Tw
BE - will do..
2nd Jag starting again tomorrow and am volunteering, 7:am start until 1pm.
I make sure the limited parking spaces are used only by the volunteers/NHS and people coming for the jab.
lol
News just in ----- all EVs to have a diesel generator fitted as standard!
Well done JohnZ, keep me/us updated very interested in outcome?
BE - still in the trial and may soon be joining another one????
that my idea of a bitter post!