Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Sad to see.
Opendo wasn't making a contribution now it most probably will bee to cough up money. By there own admission Edenville are not getting any money from coal at the moment, how is any of this a positive??
You shouldn't cherrypick quotes Sausage, makes you look a little disingenuous.
The full below quote to me reads that Upendo may well have to make financial contributions to production relative to their share which is a positive going forward I'm sure we'd all agree.
"The Company has also been advised that Upendo Group Ltd.'s current 10% economic interest in the joint venture which holds the licences governing the Rukwa Project has been transferred to a 10% direct holding on the principal production licence (the "Licence"). The Company believes this transaction may require Upendo Group Ltd to make contributions to operations going forward. The Company is seeking formal clarification of the transfer and is in discussion with its Tanzanian legal advisers to understand its implications. The Company will provide a further update once these are received."
....going t i t s up?
My interest here is waning until they come up with some real progress, hence I missed yesterdays RNS. So let's take a look
"This has coincided with heightened interest from potential customers" There's been interest since Rufus issued an RNS in January 2017. Has it ever materialised? Has it ever been proved that interest has heightened? That's over 5 years of people being interested in our coal and here we sit "From 1 February 2022 to 30 April 2022, 610 tonnes of washed coal was sold and 453 tonnes of fines were sold" 5 years of interest and 610 tonnes sold in 3 months - laughable
3 February 2022 announced that from the 1 February 2022 Nextgen take over the mine. 18 May 2022 "Edenville has yet to enjoy any material benefit from the contract mining arrangement due to operational issues" For 3 months they've failed to get a dime to the bottom line!!! 4 May "The Company believes the operational issues impacting production are being addressed" so is it the case that for three months Edenville haven't known if the issues are being fixed? That's potentially a quarter of a year not knowing!!!!
"assessing the viability of bringing operations directly back under the Company's control." Edenville has single handedly failed to produce coal at anywhere near the output figures it has continually suggested. So why the heck does it think it can now produce thousands of tonnes of coal a month just because the price of coal has gone up? If I'm correct Nextgen are using Edenville kit and people, so again why does it think it can now produce more coal by owning its own kit/ people again just with a higher coal price.
"Any changes are likely to be accompanied by a reconfiguration of the Board" What have we achieved under Alistairs leadership? Handed mine over and now want it back? I called for his resignation and I do so again. Alistair, my view is that you should just accept that maybe you're not the right person to move this forward and leave.
"Edenville is assisting NextGen on the ground and providing limited funding" It's Edenville kit and workers!!!!! so does that mean Alistair is out there helping? or the new Co Sec? Tony's money?
"The Company believes this transaction may require Upendo Group Ltd to make contributions to operations going forward." So for me, that means it does and Edenville most likely get a bill.
"Given its current financial position Edenville now has capacity to expand operations organically " Is that Tony's million £ going down the river?
If the market understood what Edenville imply in their RNSs we'd be at 16p now. Edenville have to RNS achievements not the jam tomorrow stuff.
My own opinion, there's nothing positive in this RNS. Taking back a mine they couldn't operate to such a level to produce 3,000 tonnes a month is fundamentally flawed. I believe the kit is what Edenville were operating and the people are those that Edenville employed, so what has changed? Why do they think