Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Unless anyone wants to comment, but based on facts known as opposed to suggested, there is no reason to buy here currently?
No handover
Output not meeting targets
No acquisitions
They set a precedent for issuing operational updates over the last two months, then stopped for December.
Know that the carefully worded previous RNS suggested the excavator needed more repairs, the rainy season and the usual disasters that impact Edenville, they haven't given us a December update.
Alistair what do you expect people to think?
Down 4% as I imagine people believe output has fallen back and thus we are still no closer to ITIL handover although I can but only imagine how much of Tony's million £ is left. Still no acquisition news after 7 months.
It makes me furious !!!!
silence speaks for its self
My own opinion is that the production figures are very bad, otherwise they would have shouted the good figures from the rooftop. Maybe the digger was out of action but there's a reason they haven't released them.
Has and still is reshaping her government to remove Magufuli's influence. How that will affect her energy policies and as a consequence EDL remains to be seen.
We are in the heavier part of the wet season so let's hope the pre season preparations prove effective.
I would hope (perhaps unrealistically) that the next update has not only production figures but details of the progress with ILTL (or lack of it) and the CPP.
There has been no further mention of the international interest in EDL's coal or the 6000 TPM break even figure which by current levels of production seems to be.evermore difficult to reach.
The one positive is the ongoing interest and support of the current investors .
No pressure Alistair, but you've failed to provide any December update so far
https://www.worldweatheronline.com/sumbawanga-weather/rukwa/tz.aspx
As much as one or two on here still disagree with me about when the rainy season is, it is here.
I don't have the time to follow the weather that closely in the region to know exactly how bad or otherwise the weather has been. But we had substantial floods in December 2020 / January 2021 and it is something that has occurred several times before in the region so we know heavy rainfall is a real risk. The key is always how bad it is and to what extent it limits our extraction and processing of the coal.
It's been mentioned in previous RNSs - eg "Rukwa and the complete Western Highlands region experienced an extended weather event during the 2019-20 wet season with extensive rains from December 2019 to April 2020".
Whether our operations were impacted in December is anyone's guess, until AM tells us.
Agree GW re excuses. Having published output data for last two month, the output data for December is noticeable by it absence.
I dare not think of what the excuse they are drumming up this time. They appear to be able to write RNSs, so it's not that the dog ate their own.
GW sadly that is correct , I'm hoping that it is just the transfer of brokers and not a repeat of the 17/18 debacle.
Sausage - it must be obvious to even the most bullish of PIs; there is always an excuse for things not quite turning out right, as there has been since October 2017.
I am truly hopeful that a delay in our December figures is due to there being good news, but our historic form on there being no news is normally because it's not good news.
I continue to be frustrated and bearish I'm afraid, but GLA.
Is it that obvious to you GW as well.
A RNS issued which could have contained an operational update in it, but they failed to put it in. Not just output figures, which should be known, as we head to half way through January. But an update on ITIL, government talks, contracts that keep getting heavily suggested, and acquisition ( first mentioned last May last year, some 9 months ago).
But they failed to give an operational update, why?
There was almost a twinge of excitement when I saw we had a RNS at 7am.....almost
Come on Alistair - you could have bolted an operational update onto that RNS - it really doesn't take a week and a half to pull together the figures from December.
T72,
Well done for giving Tim a nudge,wrong RNS.
Given Tim a nudge...
Either way will do
A little bit more silence won't hurt, right? (rolls eyes).
11 days in and still they don't tell us December's output figures, anyone else thinking the figures aren't great and the don't want to tell us?
Any word from AM?
Silence so far
Something exciting this week I hope
AM
To Tim?
I dropped them an email. Hopefully will hear back.
We don't know what the operational arrangements were in Tanzania over the festive period, but it's now the 7th January, so they should know how much was produced in December by now, unless they've had this week off as well
My concern is that while output was slowly increasing they were happy to tell us, but if it's gone Pete Tong i.e. with digger suddenly they will stop telling us. Silence with Edenville is never good in my opinion
Not sure we need a placing? Even our BoD surely couldn't burn through a c£2.5m placing in, what, under 8 months? Plus the £900k they raised this time last year......
Operationally our accounts tend to suggest we're losing c£100k per month, but hopefully that will be less given the (limited) revenue we have been earning over H2 2021. Although we wont really know the potential upside of that revenue until the Annual Report in June 2022. In the interim, we're just guessing as investors as to how much money we are / aren't making, unless of course we get some tangible revenue figures from Alistair. I suspect we won't.
I also don't expect the operational update RNS to be quite as timely as previous months given the break over Xmas, but they do need to keep it going each month. GLA
Anyone for a Friday 3.25pm placing RNS...again?