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I've said it before, I'll say it again.
Coal is not Edenville's future, it might be it's past, but by their own admission coal is not Edenville's future.
So with China not financing CFPP Tanzania must find other sources of funding to fund an environmentally unpopular CFPP.
Where does that leave Edenville? Currently a coal miner with a historically poor record on being able to dig, wash and sell coal in any sizeable quantities. I am waiting for the interims to tell me if they have DEFINITELY produced 3,000 tonnes a month or if they are still hopeful of doing so. A jam filled interim is not what we want. If we can't get to 3,000 tonnes a month then the handover is in doubt.
Most of Africa is on the red fly list, so how they are doing due diligence to any possible purchase of an African resource company is beyond me.
This sits right on the support level currently, a drop through the current price will take us to 25p and then to 18p based on technicals alone. Caveat to that being issuing a RNS. Only 6 more 7am until the end of the month.
And look at the trades:
Yes, there are more sells than buys.
But look at the values: note the 2x 200k and 1x 100k trades which were likely buys. They haven't been reversed yet...
Remember the comment on diversification.
And remember that it's unlikely Tony signed up to lose his £1m investment.
I'm giving them until their next RNS.
Coal stocks
Are falling badly
@Sausageonstick
1) placement would be sub 20p as that's where this is going.
2) at this stage that'sa given and should be factored/factoring in
3) this could be the kick in the gonads you're suspecting/fearing, and will lead to 1) becoming reality
4) again, almost a given considering the complete lack of communication - it will of course be blamed on covid.
what a surprise, as5 backwards corupt 3rd world cr4phole not getting its act together and paying for/building something liek this in any sensible time scale.
Another share that's screwed over long term holders with monumental consolidation f.u. and then delivered sod all
That would be it, would look like either Tanzanian government and/or Edenville are going to have to pay for the coal fired power plant themselves.
Let's see if the chat with Tanzanian government about the CFPP went ahead in September.
Likely it’s this news which will be perceived as negative sentiment for coal related stocks.
China pledges to stop building new coal energy plants abroad https://www.bbc.co.uk/news/world-asia-china-58647481
.... I said I won't post until Edenville came out with info, but more trades than usual and an over 5% drop first thing feels like bad news on the way.
Is it?
1) placement @ 25p
2) extension of timeline for interims
3) ITIL have broken off the deal
4) disappointing production figures?
Something has spooked the mm today
Back to silence until we know