I asked the question about having the Investor Evening with no new news, and was told by PR people
I cannot of course comment on when Edenville will release its next announcement, but I would hope the investor evening is an opportunity for people to have a direct, open and constructive dialogue with Rufus. I will also be attending and can, amongst other things, discuss my view on how AIM companies can and should communicate given the regulatory environment in which they operate.
Deferred shares are just an instrument to allow consolidation. It's how it works.
It's a complete red herring. Please don't concern yourself with it.
More pertinent questions would be:
1. Who is running the financial side of the company and advising on placings, subscriptions and looking into other funding options? Do they have any contacts in the institutions. What is being done to avoid placing after placing?
2. Are there any vehicles (or companies) available in the city that allow shorting of Edenville and to your knowledge has someone shorted the price right down to these pitiful levels. If so what if anything can be done about this?
3. Once the price is up after consolidation it is ripe for shorting especially after another placing. How can this be managed?
4. Cantor Fitzgerald were once the nomad/broker for the company in the run up to the infamous January 2014 placing at which point they either resigned or were fired. They are also one of the largest and oldest spread-betting portals. Via them and their associated Spreadex company, Mr C Potts, once had 8% (or more) holding in the company (April 2012). Accepting that yes the price has been flattened and probably by the use of a derivative of some sort (CFD, spread bet) was it not a clash of interest to have the same company as nomad with full knowledge of short positions? Was this not a huge mistake on behalf of the board?
5. In regard to the above, once accumulated, do you think Mr Potts then drip sold his 8% shares whilst shorting at a higher leverage thus benefitting from the huge drop, using the cash to buy more at massive discount and then sold them further pushing the price down?
6. Have any prices / deals been discussed in terms of selling coal (or electricity) to Tanseco? Are you that far down the line yet? If so do you think shareholders would be happy with the numbers that have been discussed?
7. How much is the estimated cost of building the power plant? (~100m?). Does this upfront cost not massively dwarf Edenville and make funding THE primary issue (as opposed to building a few roads).
8. In regard to q7 above do you really believe that Edenville has the experience, talent, contacts and mettle to take a project of such huge proportions to completion? Are you not better at just finding coal? Have the Tanzanian authorities forced you to go down this route and do you feel comfortable with it?
Many many more vital questions to be asked at this meeting but please don't waste precious time with novice questions that can be answered in a simple Google search.
I see Tanzania has estimated coal reserves of 1,200 million tons ,proven 304 million tons ! Is our 171 million proven ? Does anyone know for sure , if so we have over 50% proven !!! With an import ban , !! Can the board fail ,if this is the case ? Observations would be appreciated
I have been in this share about 6 yrs , and I can't remember there ever being an investment evening . So now after a consolidation , and a share price at near enough an all time low , and most shareholders foaming at the bit , they are calling an investors evening on no positive news ? Beggars belief if they do . Im pretty sure this evening was broadcast after the announcement of the coal import ban . No smoke without fire .
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