Someone getting a little nervous after having left a short open over the weekend and now a little nervous after the sudden rise at the end of Friday? ^^^^^ Technical indicators pointing to this going up rather quickly from here
I'm hoping this drop was done for mms to exchange shares etc at this lower price . I had thought that most of the trades last Friday were roll overs but not so sure now as none were at a slight premium . Tomorrow hopefully we will climb further , we need to stop this fall and head for the 8,s again !
Beg to differ - don't think Synogabon grasps it at all.
First AIM rules clearly state that financial disclosures are related to material changes - all well defined - and EDL simply sold a coal sample. Hardly a disclosure issue - and if every AIM company I'm invested in declared such issues I would be getting 20 RNSs a week. Such normally payments get disclosed in half yearly reports - all fine by me.
More importantly he/she suggests IEC performance negates a viable business model in Tanzania. I assume he/she has read the last set of accounts? Even before the ban on imports IEC revenues from operations were around US$15 mn with production costs of around $10 million. However IEC has he issues to offset these rather impressive numbers that EDL will avoid. Basically 3 things - a) an operation in Malawi that they are trying to offload and incurring horrendous write offs and impairment charges, b) a shed load of historic debt ($10 mn), and c) some pretty dizzy structural overhead costs
I would suggest the IEC core production model actually supports EDL thinking - unencumbered with all the history that IEC has amassed.
Lmao I know a fair bit about intra energy, if you two are saying, edl can't make profit, because they have yet to break even :-p Please have a look at there rather colourful journey. to where they managed to find themselves today. they even had the mining licence revoked at one stage for failure to comply with the 2010 laws
Of course it is going to be a smaller amount it is only a small crusher, it is known as a trial run. Bottom line they have someone buying it and when the wash plant arrives they will be able to ramp up production. I expect an off take agreement in the mean time.
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