Edenville Share Chat (EDL)

The 2nd half of 2021 was spent preparing the ground for coal extraction, expecting with their original plant to satisfy production of 3000 tonnes, never achieved. Nextgen failed to produce any coal hence the kicking off of the site. We now have another excavator clearing the overburden plus extra transport(when it arrives). All the plant on site has been activated as of June ?? 1st. but no mention of any coal going out of the gate. with everything in place there should be no excuse for not achieving accelerated coal production in excess of the 3000 tonne target they aimed for in the 4thQ 21.

Come on Edl don’t have a day off from dropping

I do believe it is down to Edenville's ability to dig it up move it process it and come out with a saleable product. There has been a history of having to tweak and change things on the wash crusher. They only had one digger excavator that broke down recently if I remember correctly and they said they got it going but awaited a long-term fix. With only one washer crusher each time it breaks down or stops it doesn't matter how much coal they have stacked up waiting to go through it nothing can go through it if it doesn't work. They have said that they did not benefit materially from the previous contractors running the mine because of operational issues.

Based on RNSs going back to 2017 I think there are a number of people within Tanzania and outside Tanzania that would be happy to take our good quality coal offer hands at a reasonable price.

The washer crusher is a single point of failure and a not very reliable single point of failure. I think the last washer crusher took the best part of 9 months to locate pack ship unpack build tweak. So if we do go for a new second washer crusher we can kiss goodbye to the best part of 9 months before we see any benefit from it and the money we spent buying it.

I just can't see us getting 10000 or 12000 tons out of the single crusher, which was the aim at one point.

Maybe a new position on the board for someone who actually has a career focused on coal production… versus geology/mining…

You think it’s purely down to us not being able to process it? More trucks and another excavator will help. But the washer-crusher is a single point of failure, as you pointed out…

We have a lot of coal if we can dig it up and move it and process it and create a saleable product.

I believe there are customers,I think there are operational issues processing the coal

Fully see us going for another raise with investors eyeing the energy price hikes forecast for end of year.

Bearing in mind it’s dropped 50% in a few weeks on very little volume and likely just MMs playing their game, I don’t think today is really a “bounce”… we have a fair way to go yet to the 30 or 40p mark which was where we landed at the consolidation (from memory…).
If we get some positive drops, this should build back up quite justifiably. We have a lot of coal if we can find buyers.

As per my 11.25am post

The fundings undertaken through the year ensured that the Company is well capitalised, with cash resources as at 31 December 2021 of £1,229,801

As at 27 June 2022 the Company had cash balances of approximately £515,428.

So in 6 months they spent £714,373, so their burn rate is approx £119,062 a MONTH and revenue was revenue was £105,228 a YEAR!!!!

Is today a fake bounce as per normal or is this going back up here?

Set my sights a little lower. I'm looking for RNS's confirming they're adding customers. Last year they only had two major customers and they weren't huge either so want to see proof that tanzanian coal is more in demand due to exporting etc by way of added interest becoming added coal out the gate so to speak.

re your £100k/month burn is that derived from the statement "Net decrease in cash and cash equivalents £1,204,111"
Just so we're on the same pg.

Up 11% today lets see what the next 92 days brings remembering

As at 27 June 2022 the Company had cash balances of approximately £515,428.
Monthly burn rate of over £100,000
Correct me if I'm wrong but they have never made it to 5,000 tonnes of coal a month.

There is still no explanation as to why Edenville think they can get this right with the same people and the same equipment (+ another digger and some trucks) where they have failed since 2017 to achieve any output target they have issued.

I read all the jam tomorrow in the RNS, heavy suggestions but not substance to the jam.

Time will tell, and as I say I'm a realist. If the next RNS says they are ACTUALLY producing 5,000 my attitude will change, but until they RNS that facts rather than jam my view remains the same, sub 10p at some point between now and the end of Sept 2022. That's as I see it.

SOS

I’m glad I sold and am out. Good luck to holding this for the next 50 years but i would rather watch paint dry than this drop constantly

Have taken a few more. Not many as market conditions aren't nice but thought I should after my bullish posts.

Another tick up and sos still betting on 10p.
As for me after the expenditure of clearing the overburden I will be disappointed if they only achieve 5k tonnes by the end of September.

Apologies ...your right it does start tomorrow ..I would expect that given the lack of communication from the company that they will keep us up to date from now on the progress they are making .
We shall see ,and like you I hope that we all have a get out of jail moment at the right levels

Happy to wait 3 months, lets see what the price is on opening tomorrow and what it is at close on the 30th September.

Historically they have never been able to add shareholder value via the share price so will be interesting to see what they can do over three months.

I still say we will be sub-10p at some point before the end of Sept 2022

Bullish - the 3rd Quarter starts tomorrow! And I'm hoping they will be out there in their nice new bucket shoveler and putting every day (and night!) to full use!
I did top up a few days ago but low on funds, otherwise would be tempted to try and buy my way out of my measly average. But 3 months isn't too long to wait and I would hope that any hints of success will be shouted from the rooftops as soon as...
Waited this long. A little longer won't hurt as I'm certainly not bringing myself to sell when 75% down.
GLA. Keep those peckers up!
T

So cash is still in the bank
They still are saying what the said a few weeks ago about production
All trades so far have been buys
Still trying as hard as possible to find and post as much negativity as possible as Teaye said 3rd 1/4 starts next week so wont have long to wait if it comes to fruition or not.
Wonder why the bearish people in the stock have not sold today? perhaps deep down they think they might have a chance of pulling it off this time!!

As at 27 June 2022 the Company had cash balances of approximately £515,428. Whilst this is sufficient for the Company's current needs, at Rukwa, where it is expected the Company will become cashflow positive later this year as production ramps up.

It states they have enough money for current needs at Rukwa, does that mean they do t have enough money for other things?

I'm just careful of what they say, so their paragraph sound suspicious.

"All I want is for a RNS to come out to say we are selling upwards of 3,000t per month - not mining it, talking about it, telling us why coal prices are high - just selling it."

Exactly, that's kinda what I've been saying in that we need FACTS that we are delivering rather than the JAM we keep getting where they heavily suggest what they plan to do but never quite deliver it for one or another reason.

They have to deliver, but still think we need a Board change to achieve it.

Still would like to know how much of the £700+k was spent on salaries in 6 months

Still believe we need another washer crusher

One biggish difference is that market conditions are now in our favour.
Also, IMHO, one excavator (or was it two) and a truck (or two) was never going to see us take on any grown-up supplier... double the equipment and at least having the ability to fulfil orders is a step further than we were previously.
Rather used to Jam now. Q3 starts tomorrow, though.... and end in 3 months. Not long to prove or disprove that point.
GLA.
T

Yet another RNS that basically says "We're going to sell some coal, honest, next quarter"

Our BOD should all be ashamed to be drawing a salary. We've had coal: actual verified, accessible coal, for years. We've had orders for 000's of tonnes of the stuff for years. We've had extraction and processing capability for years. So what's missing?

"All I want is for a RNS to come out to say we are selling upwards of 3,000t per month - not mining it, talking about it, telling us why coal prices are high - just selling it."

Agreed and don't believe the sp will show any real upwards movements until the market can see it beginning to happen.

I think we just got to except the the raining season is to be a complete shutdown
EDL has now got to get it together in the dry months and get as much out of the ground and fill as many contracts as they can try and only wash coal in the rainy season when the diggers can not work but 24/7 for the 8 months that are dry.