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Is beginning to look like an echo of 17/18, I have to agree with SoS, if the production was up to scratch the figures would have been published.
Diggermans comments as always pointing to EDL as a lost cause, the worrying part of that is TM therefore EDL
are aware of Diggermans posts and have not over the years.accused him of being mistaken.
A simple update would stop the guessing.
AEX - gas in Tanzania up over 20% today
HE1 - helium in Tanzania up over 14% today
EDL - coal in Tanzania down over 3% today
Coal in not the future Alistair, work it out and work it out quickly. You were given £1m nine months ago to get out of coal, and still we sit here. Is the digger broken again Alistair?
There nothing to remotely suggest any news about anything is in the pipeline.
Even if it was, why would that stop then releasing the output figures for December??
The fact of the matter are that for 3 months they gave us the figures and now they have stopped.
It's been over 9 months since Tony invested his money.
The handover to itil is around 17 months delayed
The price is down another 3% today
Facts not fiction
Esquimo - as Diggerman mentioned on Saturday morning - the power plant is a non-starter. We can chat about it with TZ gov as much as we like. There's no business case and there's no money for it. Our hope was the Chinese bank rolling it but that avenue is now closed. RCPP has gone I'm afraid.
Most AIM companies feed on the more to come sentiment. We've managed it here for approaching 12years now.
Coal is our only source of income, but given we lose c£100k a month on it we may as well not be doing it. That is why the ILTL deal was so significant for us. Why it hasn't happened is really anyone's guess.
Our best chance of success is we get the coal mining to break even and perhaps a small operating profit and then have a significant other revenue stream from something else. That strategic investment money that we are slowly but surely eating into is the key to our future.
BB, agreed re RAB. Coal is EDL's only source of income at this moment in time on their website, albeit years out of date.
EDL have stated that discussions re the CPP are ongoing and nothing has been stated to the contrary.
Samia is intelligent and hard working and unlike Magafuli is well aware of international relations and the value of foreign investment a polar opposite to the previous president! If she did not have an interest in the CPP I'm sure we would have known by now. How EDL copes with that is another matter , past performance etc.
Like you I feel that there's more to come but without any update that is pure speculation.
Bullish - I hope you're right. We need some visibility on the strategy.
Not sure I would agree the majority of stock is in safe hands. We have Spreadex, Monecor and Intertrader all having significant positions here. Nowhere, still, have I seen TR1s for our major investors.
Alastair needs to stop both us IIs and the market hypothesising and guessing what's going on, because unfortunately no news in the past has usually not been good news. GLA
Im with you Teaye it feels like something is brewing away from Coal
The one good thing is that when it comes the majority of stock is in safe hands and therefore wont take a lot for this to properly move .
Rab did not invest to double their money .Funds are looking to make a multiple on the investments they make
The market is clearly leaning to the bearish sentiment unfortunately.
Not that many of us say this phrase often on here...we need news!
I am leaning towards the absence of news being due to something in the pipeline. Not sure what, but I don't think it's just about coal output.
They have been talking diversification for long enough and we all know coal isn't the future - even though global demand could keep us going for a while if we ever manage to hit the modest targets.
I think they are working on something....
Over to Jeff and Alistair to let us know what they are up to. Tim can pass on the message... :))
Bull,
Another couple of months????
It's been 9 months since Tony invested. Things don't happen in months but years with Edenville.
The ITIL handover is well over a year late.
In terms of Tony's money. Either they are spending it to keep the company afloat or they have kept in a bank account and spending some other money. If it's the second option, that they have ring-fenced Tony's £1000000, then at some point Edenville are going to have to come back to the market for more money to keep them going.
"total disregard for their shareholders"
That will be on my t-shirt if I ever go to an AGM!!!
We had no updates on coal production then out of the blue Oct, Nov and Dec we had production figures, heading upwards, all positive. Now back to silence, it doesn't take a genius to work out why in my opinion. Silence has seldom led to positive news in Edenville's world.
I agree with you
Yes we do need updates and also about the way forward which I'm guessing wont be about our pile of coal
So for me another month or two doesn't really matter
The problem with EDL is their total disregard for their shareholders and that has been the practice since the Rollason days.
Up to this point in time long periods of silence have never been followed by share uplifting news and they have yet to meet any of the predicted production targets, bearing in mind that they have stated they need to produce 6000 tonnes to break even.
As for myself I've continued to add over the last few years to keep my average reachable.
I still believe this will come good but we need those updates to be positive, with a definite road forward.
Short of trying to drive the share price down I really dont see any point in all the negativity on this one
I dont care about if its raining or not or anything else
The company will update us at some stage with whatever the plan is ...and then and only then will I make my mind up about either buying more or selling .
The lack of no news can also be taken as a positive lets not forget!! ,as a PLC they have an obligation to update us if anything materialistic either way has changed for the company
Digger broken?
Rains have arrived?
Covid?
Or something else?
....January and still they maintain their silence.
Why? They know what everyone will think.
In Kenya at the moment but flying south later. Will be a few hundred miles from sumbawanga so can update on the weather. Usually showers now, big rains are March and April
Couldn't agree more, been saying for years this is a mismanaged and undercapitalized operation. If the money that has been raised over the last 4 years was put in at the start it could have been successful. Still needs a lump of capital in addition to the sustaining to make it work.
I still believe there is a market in East Africa for industrial coal, but the power plant is a non starter.
"just wait and see" "now is the time to be patient" I've been here well over 10 years waiting patiently for shareholder value!!!!
Edenville need to come out from behind the silence and communicate. They need an investor presentation evening and answer our questions.
Coal is not the future, and they are burning through the cash they could use to buy another company.
Nothing but a fraud company !
The Interims Results are quite telling - the last section in the main bit (before notes) is the Consolidated Cash Flow Statement. It includes the c£3.4m we raised last year (Jan and May), c£430k payment to Lind etc.
At the end of June 2021, we had c£1.87m left. We have been losing £100k a month.
So by my very rough calculation we have c£1.3m left. That will keep the lights on this year unless we can start making significant inroads into our mining, which we can't really be doing at the moment because it's the rainy season. So where is the actual money for any tangible investments?
And do any of us think smart guys like Tony and RAB don't understand those financial figures?
The interesting point to note about our strategic investors is nowhere have I seen a TR1, so their shares are held in nominee accounts. The share price here was 35p or above for most of May. That's a quick 40% return if you wanted to trade in the background.....
As a going concern we simply don't have the time to be patient.
So much negativity why dont you just wait and see what happens ?
Well if they fall fast as you put it then it will be a buying opportunity like my prints the other day ,as I said before Tony isnt here to lose his 1m or Rab capital and im pretty sure it wasnt because of the coal!!
Yes as a long term holder its been very frustrating but now is the time to be patient in my opinion
This will fall in my opinion fast next week unless he pulls a rabbit from a hat on Monday.
Down 4% today is just the start of it, I still stick by my 22p prediction
Sausage
We have systematically failed as a business since October 2017 with an operational plan that simply doesn't work. The climate in this area has a significant bearing on our mining which means between April and November we need to be selling way above our break even target to mitigate the potential risks of the rainy season. We simply don't seem to be able to get there, we've spent well over four years trying and probably lost c£5million in the process.
There is no CPP plan - none, as it's all talk - and to get to a point where a RNS was released saying "start of power production" could be 5years plus away. Given COP26 and the fact we would need a consistent supply of coal of probably tens of thousands of tonnes every month, do we really think that will ever happen? I just can't see it.
The biggest frustration for me over the last year has been the consolidation, because it generally flattens the price volatility and makes trading down your average more difficult.
Esquimo's post earlier sort of sums up where I am - perhaps one positive is IIs still feel there is an investment case, but as I've posted before, I tend to take that with a pinch of salt given we've seen no TR1s. That says a lot about whether it's actually long term investment or a quick buck.
So, that leaves me with no current investment case for PIs if I'm honest, but then I only have myself to blame for still being here. This was one of my earliest forays into shares and I have, to my own cost, become emotionally attached to Edenville hence why even when I have sold up several times in the past I've somehow found a reason to convince myself to buy back. Therein lies a lesson.
Genuinely GLA, but unless Alastair has a warren of rabbits in his hat, I'm just not convinced.