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It would have been good to have some feedback from the AGM but having not attended I have no grounds for complaint.
It would seem logical to only give a months progress once the the month has been completed, so, next week might be a reasonable expectation.
I did expect some sort of encouraging update before the AGM but as has already been pointed out, that sort of effort is not in EDL's mandate.
Have a look at "Interactive Brokers"
“The status of the agreement with Infrastructure and Logistics Tanzania Limited ("ILTL"), as announced on 8 June 2020, will be reviewed once production rates at Rukwa exceed 3000 tonnes per month”
You would guess this is a snip as they also say:
“In the event that all of these contracts materialise as anticipated in Q3 2021, this would equate to some 6,750-8,750 tonnes per month of washed call and 1,000-1,200 tonnes per month of fines”
Which is just shy of 8,000/10,000 tonnes a month
In addition they also say:
“Consistent with the positive sentiment in the region the Company is working on a number of other supply opportunities in the East African region, for which further expansion of production capacity at Rukwa may be required”
So it doesn’t look as if they are about to walk away from the mine, and imo would suggest the opposite.
Not forgetting”
“The Company has recommenced discussions with the Tanzanian Government and recently been invited to submit an unsolicited proposal for the supply of coal to an on-site power station owned and operated by the Tanzanian Government. The Tanzanian Government power planning programme shows the need for a base load plant by 2026”
All as the $455m Interconnector closes and the need for the Tanzanian Government to for fill their commitment to add to the Power Pools.
Looking goodeverything considered !!
aimhopdyor
pi
We know they had a problem getting it out of the ground, we don’t yet know if they still do.
Simple, cast iron news of contracts being signed, cast iron news of handover, cast iron news on the next adventure.
Not jam tomorrow RNSs
It's easy they just need to dig up and sell coal but they have a problem doing it.
What is it actually going to take to move this back up.
It being pay day today, they might be on the strong lager by now.
I suspect the chocolate digestives have been swapped for a few shandies down the local and that any thoughts of shareholder obligations will be in the urinal by now…
It has to be Monday, otherwise they will have failed.
Still time for a RNS
Monday, then... ;))
19mins...
......fail with their July objectives then I would expect to see a few head for the door next week
I will wait for the next RNS whenever that may be and if its meh then im gone, ive never known a company to be as vague with news as EDL and ive been in some tripe over the years.
If we do get a block buster RNS then i will hold my hands up and admit i was wrong.
Hoping for the latter..
And there's still 4.31 to come... :))
It doesn't explain why our new investor Tony would have stumped up the cash if he wasn't going to see a return.
It's a pity they haven't provided any news yet... but I haven't written this off yet. We are owed an explanation. Unfortunately AGMs are largely formulaic so it doesn't surprise me too much that nothing has been said.
They have to tell us what is happening at some point soon, though.
They aren't off the hook. And there's no massive rush for the door.
come to mind? A nice little earner for a bunch of amateurs and we've all been fundamentally screwed almost from the outset. This is the other side of the so called British innovative brigade. Yes there are some outstandingly clever people in this little Island of ours but there is a minority of scumbags. I wonder if this gets posted?
... I'll consider Edenville to have failed in their July objectives.
The votes against are fairly consistent, a member of the coal is dead brigade, 1 member and a fan.
Stimulated zero trades.
All resolutions were (overwhelmingly) duly passed on a poll looking at the numbers!
no bad news in that then
https://edenville-energy.com/pdfs/Notice-of-AGM-and-Circular-Edenville-Energy-July2021.pdf
...reading...
Says nothing....
People not attending is not new. The first Edenville AGM I went to there were 8 members from the Company and me and Merlin