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Nobi, thats because Aerial is not a bot, unlike the villager !
Larry, cognitive bias or not, I actually thought Harry's reply to me Sun Morning (10.20) was very witty and generous. It certainly showed humanity.
Norrab "Is Harry on the Bod? He defends them with such steeliness."
It is either that or a severe case of cognitive bias that may only be remedied with a full course of CBT or failing that, a full course of CBD.
I'd love to know why LTH first discovered EDL, more to the point why they invested.
Hi GW. I believe RS fully knew his own shortcomings from the outset of this mining project, where he clutched at one straw after another just to justify his salary whilst fully knowing he wasn't the man for the job. I think he was probably egged on by his own cognitive bias but most of it was done fully cognisant of his shortcomings. This is why the man should be accountable.
Is Harry on the Bod? He defends them with such steeliness,
GreenWolf
Yes because of the bods foresight!!!
Without the mine, without the foresight there would be no Edenville Energy. The company would have ceased to be the day the Tanzanian Government nullified every mining tender in the country imo
Indeed, losing £100k a month is not sustainable, açceptance is needed, many of the Happy Clappers have learnt this and moved on, however a couple still persist and continue with their myopic ways, this is their choice and is appropriate, however it isn't appropriate to mislead others especially potential new investors, by bombarding them with half-truths.
aerial - because of our BoDs "foresight" we are losing c£100k a month even though we aren't paying any Director salaries, so that is racking up as a liability too. If our BoD really had intelligent foresight they would have thoroughly reviewed their own capabilities and decided that actually nobody knew that much about opening up and running a mining operation and got somebody in years ago. It's great to have the foresight to do something, but only fools rush in, particularly when ,as is now apparent, they quite clearly have naff all experience of running a mining operation. I still don't understand why you are so defensive of the BoD - you are no doubt heavily invested in Edenville at some significant paper loss - that shareholder value has been eroded by lots of spending, probably millions in salaries, which has tanked our share price and put is in a load of debt. But that's all in my humble opinion of course. Who knows - Alistair might just pull us out of the mire, but I suspect he's been pulling his hair out for the last few months. Good weekend all. GW
Both Edenville and Kibo had (past tense) business models. In addition to the RCPP Edenville desided to go ahead with their mining plan.
Kibo sort others projects in addition to their MCPP in Botswana Mozambique and the UK, but were knocked for six when the Tanzanian Government nullified all the Tanzanian Mining Tenders.
As a result of Edenvilles decisions/foresight means we have revenue and as yet Kibo don't. Just goes to show the you never quite know what's going to happen next !!
All imo pdyor
Aerial - same as AM included the details about having 1, possibly 2 investors.
We just need to have an RNS saying new share issue taken up, and no involvement by the BOD.
JMT
GW - I hope, do not really know AM, but with the first RNS he put out I have a lot more belief in him than I ever had in RS.
This is because he included details and I would like to believe AM would not have include the break even information if he did not think it is achievable.
JMT
Aerial - the belief we will be break even within Q2 2020......yes, it's in the RNS, but then so were many other things we simply haven't achieved. It's all about money now - we are clearly having to scrape the barrel (I'm still interested in that allotment of c£5k of shares last week - what was that for?) And that knife edge I've mentioned before and been castigated for, is here. If we can't get more investment, we're finished and Lind get first dibs on our assets. Genuinely GLA - we need it at the moment.
Aerial - I know nothing about Kibo but there's a whole world of difference between deciding to extract it and understanding if the business model works. Rufus was an explorer who in my view rightly decided to look at short term mining - but he's little experience of whether that works and we should have had someone like Alistair on board first, who undoubtedly would have looked at the option of short term mining and decided if it was financially astute. We sort of know the answer to that.
As previously covered, if it were not for this company's foresight Edenville might be calling themselves 'A multi-asset Tanzania focused energy and resource company" but unlike Kibo they decided to mine their coal, hence their belief that they will break even within Q2 2020.
I have to compare Edenville and Kibo as they are unique in this part of Tanzania and went through all the same processes and have similar amounts of coal. The difference is Kibo's Flagship MCPP is now at the bottom of their list and for a company that had a MCap of +£30m not so long ago, and were said to be light years in advance of Edenville look like making their first revenue out of a U.K. Investment.
Edenville already have a revenue stream, and if finance is forthcoming then hopefully they will continue to progress as a miner and eventually maybe a supplier to the EAPP and E&SAPG's.. If the Edenville SP rises above 0.196879 for me everything else is a bonus!! and I would add that I only need one of them (EDL/Kibo) to succeed, but both would be better.
*Kibo have four projects, three are in Africa and one is in the U.K. Kibo has some extremely large investors, and some of them use the Kibo bb. You won't hear or find much about sustainable energy on that board, but l would be interested to see someone try to start that debate over there !! ;))
All imo pdyor
Kibo have left their +120mt of coal in the ground, so 'their hardly going to leave it in the ground' clearly doesn't apply to everyone.
aerial - I do like your continued praise of the BoD and the use of foresight. You must be related to Rufus!! Seriously, I have just never bought that - you discover 170m+ tonnes of near surface coal - you're hardly going to leave it all in the ground until a power plant is built. And we have a continued debate about revenue - it's no use having a revenue stream if your costs of sales are greater than your sale income. That's how company's go bust. Which is our problem. Edenville was built on a business model around the RCPP - our website still promotes that - "focused on the Rukwa coal to power project in Tanzania". That's massively changed the investment model. It is huge risk here now for potential strategic investors, particularly as our BoDs "foresight" with the CLF has tied up all our assets to the loan agreement with Lind. We need something very transformational, very quickly. GW
GreenWolf
We are discussing a small foreign coal miner who as we have been informed is currently mining coal for the manufacture of cement and steel thanks to the foresight of the previous bod.
There is no CPP possibly until the Interconnector gets closer or the Tanzanian Government changes its mind. This is Africa and Edenville Energy is unlikely imo to be greatly impacted (if at all) by renewables in the life of the mine. If we get invited like Kibo to add to the pool things will drastically change, if we don't we have a coal mine with 173 mt of coal and a continuing revenue stream. Clearly sustainable energy will take over the world, and is gathering pace and definitely for the better.
All imo pdyor
aerial - sometimes people deliberately leave holes so others will fill them. You know my quite substantial knowledge about this as we had a protracted discussion about the World Bank and proposed schemes etc. It will be there in my posting history. My point is simple - like you say, RCPP which was the basis of our investment model, has gone. Yes, it could come back at the drop of a hat, or it might not. I'm guessing that's very much norrab's point - the world is changing and Tanzania may well have pulled the RCPP to look at alternative sources of producing cleaner energy. And to put the cherry on the cake, it's all gone very quiet with Sinohydro who were also looking at potential Chinese funding for a power plant. News please Alistair. GW
GreenWolf
I know you like to have little digs and pick holes, so I'm not going to dwell too long on the gapping holes in your knowledge...
To untwist the logic you have to understand that there is no CPP (RCPP). Everything has changed, and a Sumbawanga substation has been proposed within the Interconnector Project for sometime, years in fact.
There is a very substantial World Bank PDF with all the information including all of the proposed substations. Well worth a read as it will answer a lot of your questions. I have read the document several times and many of the accompanying reports hence the reason for many of my views. Much of the PDF content has been discussed on this board over the years, but to save you some reading Sumbawaga, the site of the Edenvill Coal Mine, is at the termination point of the Interconnector in all of it's forms, as is the proposed site for the Sumbawanga substation.
Regarding the Edenville CPP (RCPP) and the plans for the coal-fired power station (not the Sumbawanga substation) without getting over involved at 23:35) pretty much went out of the window with the nullification of the Tanzanian Tenders, but everything could change at the drop of a hat.
Many sources of power will obviously eventually contribute to the power pool and grids. With regard to the Steigler's Gorge Project, I personally wouldn't hold my breath as the project is predicted to bankrupt Tanzania, and if it doesn't it will never ever be finished anywhere close to on time or close to budget in my opinion.
I wouldn't want to tempt fate, but I think Edenville have a better chance of success than the Stiegler's Gorge Project!!
All imo pdyor
This is the competition EDL is facing.
So 102 turbines for 300mw.
Miombo Hewani Wind Farm warm
Construction of the project dubbed Miombo Hewani Wind Farm warm will take place in three phases of 100MW each, with the first phase which will cost US $250m, estimated to serve over one million residents of Makambako Township.
For the company to generate its first 100MW, it needs 34 wind turbines and also electrical infrastructure to connect the wind farm to the national electricity grid at Makambako substation
Upon completion, the wind farm will have a lifespan of 25-30 years and will have a capacity of generating enough power to light some three million households, based on current per capita usage. The power generated at Miombo Hewani will be sold to the Tanzania Electricity Supply Company (TANESCO).
By 2025, with the costs of building wind and solar power expected to continue to decline, the analysts project that 86 percent of coal-fired power plants will be more expensive than local renewable energy. ... It's different in places where plants are fully regulated, as plant owners can pass extra costs on to consumers.25 Mar 2019
https://insideclimatenews.org › news
aerial - I read that as slightly twisted logic. The Rukwa mining was progressed as an advance measure ahead of supporting, if I recall correctly, a 320MW coal fired power plant. Sinohydro have always been keen to look at something bigger, which is commercial acumen. The power line coming into our area doesn't necessarily require a power plant- it is simply transferring electricity from somewhere, which could be the new facility at Rufiji, although I doubt that will be online by the proposed 2022. That's some 2000+ MW. I'm not really bothered about aspirations from RNSs as we've seen plenty of hopes in Edenvilles RNSs fall by the wayside. Like you say, and something I've consistently talked about in relation to our operations and P&L - it's all academic without the money. GLA
Our situation in a nutshell.