Katherine Roe, CEO at Wentworth Resources talks through the Ruvuma gas development in Tanzania. Watch the full video here.
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SoS, I'm sure that EDL will be more than delighted to join you in mutual back slapping if they ever hit production targets!
Re UPENDO, they partnered with EDL to mine Namwele in 2018, March of that year was the expected date for production, that was followed by silence until UPENDO decided to sue EDL for non payment of fees, I don't recall any further information on that.
The talk now regarding UPENDO is of a 10% holding in EDL, we shall have to see how that works out.
June could see another update before the results are published, if they haven't managed to produce coal by then they will be running out of the extended dry season.
I'm more than happy to be bullish ONCE Edenville diver positive progress. Like hitting an output target!!!!!
Bullish - sometimes there are indeed sensible and informed comments on these BBs, but investment cases are based on fundamentals, not opinions. MMs are way nearer to the knowledge than any PIs, so why would they need public forums when they have mates in companies?
I'm genuinely interested in what was your investment case when you bought in - was it summer 2019?
You did say in February that if nothing had happened in the next few months then the negativity could carry on!! It is simply a reflection of frustrated investors - nothing more. For instance I remember the days when Sausage was very bullish about Edenville - that's been driven out of him by continued failure buy our BoD. I understand that completely.
Good weekend all.
Carry on I'm sure they will oblige and take the stock down for you
I ran market making at two brokers and have been in the city for 40 years ..you can mock as much as you like
I had a junior dedicated at looking at stocks for me and seeing what bulletin boards said as sometimes believe it or not there were some sensible comments made that did actually make some stocks go up or down.
Anyway enough from me ill wait and see what happens when the company have something to say
Hello Market Maker (waves). Please could you do something with the price next week, anything really, just make it more interesting for us bored investors in Edenville.
Trust me the do look at bbs I've been in the market a long time and they have dedicated people looking at sites just like these .
"...one man and his dog....",
reminds me of the old mainframe computer days when it was said that the graveyard shift staff was comprised of an operator and an Alsatian; the operator's job was to feed the dog, the dog's job was to keep the operator away from the computer.
Bullish - nothing posted on here whether positive or negative will have any effect on the share price. You know that.
People are hacked off with the constant circle of mis-trust that has been created by our BoD, whose competence must seriously be in question. Even Wednesday's RNS suggested a re-shuffle.
MiningInvestor- I think the person you are referring to is known as one man and his dog....
We all know nothing on these bulletin boards in any way influence the MM in lifting or lowering the price
Well if we all keep talking it down it will go down, assume everyone will be HAPPY then
I'll answer myself, on LinkedIn the operations manager was previously the Health, Safety and Environmental manager, not someone with a background in mine operations!!
What strikes me about EDL is they don't have any operational on site listed on their website. Usually under the corporate and management tab there would a one person on site running the multi million pound operation, it looks like EDL is run by the board in London!
Respect or no respect, I'm not a deramper but a realist. I say it as I see it.
What has Alistair achieved? My personal opinion is not enough to keep him in the job. The coal is there in the ground near the surface. You dig it up, move it, wash crush it and sell it. I'm partly joking when I say I've seen Aussie Gold Hunters, where four guys dig up soil, move it, process it through a washer crusher dry blow machinery and get AUS$1m of gold out the other end. Now if it's that easy for Vernon Strange to get AUS$1m out the ground, why can't Alistair organise it?? If there's so much demand for Edenville coal, why is it Alistair can only sell 600 tonnes in 3 months?
The number of heavily suggested events that Edenville have made since January 2017 makes me giddy. I still believe one excuse will be that in order to get to the production levels suggested they will need another washer crusher and that will take the best part of a year to find, ship, install, fine tune.
Is Edenville now just a lifestyle company for the Board? Are they just milking this for all they can before they resign and let someone else come in promising the earth and delivering 600 tonnes in 3 months? Rufus tried it, Alistair has tried it, and here we sit.
MASSIVE alarm bells should be ringing when it's taken Edenville over a year to find an alternative investment opportunity with £1m sat in the bank. Why?
If Edenville start issuing RNSs that state they have done something positive to move the company forward, I'll be positive, but what I'm not going to do is get all positive about yet another jam tomorrow RNS.
Agree with the sentiments Pawn.
Not sure how long you have followed or been invested in Edenville but we have moved from one disaster to another. I see there's now no mention of any discussions about RCPP in our RNSs.....
The price of coal could certainly have an impact on the underlying business model, but it is also worth considering that we do have stockpiles (they are mentioned in the annual accounts, as they are a tangible asset). If demand is so high, we should have pretty much exhausted those stockpiles and then be fully reliant upon our processing of new coal. That is one reason I'm keen to see our annual accounts in June.
The quality of coal is very important as this will reflect in the price - it's mentioned somewhere in the depths of the RNSs - what worries me is this continued inability to actually sell it or customers taking it on trial and then seemingly not coming back.
Don't get me wrong this could turn around, but we have had years of failing and Alistair also seems to have simply fallen into the weeds of trying to get the business model working. The proposed strategic alliance with MarTek came and went without ever getting off the ground (and continued excuses......) and we now have a seemingly already strained 12month agreement with NextGen where, in my view, we have two key problems - they don't seem to be able to make the mining model work and we've sold our resources on to them too cheaply.
You really couldn't make it up.
I don't believe someone deserves respect just for getting stuck in a declining stock for a long time Green, it just shows an inability to cut your losses and move on to a more successful endeavour. Doesn't deserve disrespect either and that wasn't intended I was just having the crack after the multiposting last night is all.
Think the main thing that's changed in the last little while is the price of their commodity as the 5 yr chart is showing up and myself with these new pricing dynamics I would far rather they throw their 2.5m into this current mine than go looking for new projects to start from scratch.
Whether they manage to make a success of it with these new higher prices remains to be seen agree there entirely. My position is I'm willing to give them one or two updates going forwards to see how they do as they're extremely cheap marketcap wise and I don't see the price of coal coming down any time soon to spoil their chances.
Pawn - I've said many times on here there is a big difference between gross profit and net profit. Our accounts show how much we are losing each month both from a gross and net perspective. That's why I am so interested in our annual results due in June.
Four and a half years of trying to get the economies of scale on both ROM and sales and just over three months into a potentially transformational relationship (whereby we strip out our cost of sales) and it's clearly not working, still. Whatever happened to MarTek Global?
Upping production isn't quite that simple without significant investment. According to our BoD, that strategic money from last year (c£2.5m?) was earmarked for acquisitions, not continual rainbow chasing on our mining operations.
Sausage is not a deramper, he is a frustrated long term holder, like a fair few on here including me. He has been here a very long time and deserves respect for that alone, none more so than I expect he is over 95% down if he hasn't averaged lower / traded over the years like I have.
We need a wholesale change on the Board. They have continually failed (who agreed a flat fee as opposed to a %age of sales revenue in a rising energy price market......?) and replacing Rufus simply hasn't resulted in any tangible change for shareholders.
Wednesday's RNS wasn't positive given the history here since we started production in October 2017 and the market agrees.
"Edenville's Tanzanian operations will now become profitable immediately with respect to any coal produced and sold from Rukwa.
what went wrong?"
Nothing went wrong they did become profitable just not in a meaningful way. Need to up production and sales as the bears have rightly pointed out.
Next few updates have to be key imo and they need to come in quick time as indicated in the last update.
I'm sorry sausage but after your overnight multi posting deramping I no longer trust you. You've gotta go mate..
"With the operational side of Rukwa in safe hands, the Company continues to review additional investment and operational opportunities, following its recapitalisation last year."
So safe hands they are now thinking of taking back the mine, I just can't trust what Alistair says any more. My opinion is he has to go.
Thu, 3rd Feb 2022 13:20
RNS Number : 6444A
Edenville Energy PLC
03 February 2022
Alistair Muir, CEO of Edenville, commented: "We are very pleased to have entered into this agreement with Nextgen, whose owners have extensive experience in the coal sector and a network of relationships throughout Tanzania and surrounding countries. With Nextgen absorbing the costs of production, Edenville's Tanzanian operations will now become profitable immediately with respect to any coal produced and sold from Rukwa.
what went wrong?
Why does Edenville think it can run the mine and increase the coal output now, when it has failed continuously over the last year's?