Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It looks like we'll get monthly production and sales updates from now on.
Brown - but therein lies one of our key issues.
We've actually no idea between us what we are getting per tonne of coal. I've always considered that the price of coal is related to its quality and calorific value, which is why the price can vary substantially across grades and locations.
We made c£30k in revenue last year - yes, we were significantly hampered by Covid, but according to RNSs we still mined in March (and sold 500t) and recommenced operations again in mid August. So what did we actually sell to get to that c£30k?
BTW, I've no desire to argue over the climate and I've no evidence to doubt you haven't worked in Rukwa, but I don't agree the rainy season is March to May. There's even a further bit in our Annual Results
"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. This again impacted production in the first quarter of 2020"
This is one of our major obstacles to getting to economies of scale - we never quite know how that long rainy season is actually going to impact us.
I still believe they will get output to 3,000 tonnes a month then discuss either or both the options, hand over the mine and take a %age on each tonne sold OR sell the whole lot and get out of coal.
In both cases I'm more convinced that the acquisition they are looking out is not coal related.
...only starting when Edenville gets to 3,000 tonnes a month it looks like Edenville are still running the show for quite a while longer
Let's see if we get any tweets this morning with some photos... :))
So during October we had rough revenues of around 150,000 dollars. If coal prices stay around the $145 per ton mark (South African price) If we do hit 3000 tons per month then that would be $425,000 per month revenue.
No need for the abuse.
But..if you're right then the Tanzania Tourist Board and Alistair Muir's RNS of 27th Feb 2020 are both wrong.
In October 2021, the Company mined 2,240 tonnes of Run of Mine (ROM) coal and produced 1,024 tonnes of washed coal through its wash plant, representing an increase of over 150% on the September 2021 figures. A further 7,680 tonnes of waste was also moved, thereby opening up greater access to the coal deposit.
Listen Google boy I worked in the rukwa area and the long rainy season starts mid march and ends during May
Sorry Brown. That's not correct.
Third paragraph, last sentence
https://www.tanzaniatourism.go.tz/en/tanzania/facts/climate
There's also a RNS from February 2020 that talks about the impact of the rainy season
Mid March the rainy season begins.
Brown - the rainy season is not four months away. We've had that debate several times on here.
Our last interims and annual report showed we are losing c£100k a month. That's some gap to close and we're not going to do it with a few thousand tonnes of coal a month.
Rainy season is 4 months away and only lasts for 2 months. What ever money we are making on the coal sales reduces losses and delays placings. Then EDL can find a greener project and possibly sell off the rukwa coal asset.
Well, going in the right direction.....so, so slowly. And we're undoubtedly still burning the cash each month.
Just the small problem of the rainy season coming.
At this rate we'll break even in about four years....
Personally I simply can't see us ever getting there.
Just need to keep the momentum going now. Monthly updates would help creep the SP northwards. Then the big new project update!!
I still think there is money in coal in Africa they do not have the cash to get to the other alternative means just a pity EDL do not know how to get it out quick enough to make a profit, Or so it seems. My guess they missed the boat with the out sourcing or what3ver it was called. Holding to see what will come out in the end a small loss or a bigger lose who cares Ladbrokes would have had it all by now haha
i wouldnt worry about that too much ,most of the main Coal consumption countries have no intention of doing anything for another 20 years lol
I was meaning Edenville rather than the world.
I think NvS stated that coal wasn't the future for many reasons.
TroubLe is solar is useless wind is not up to the job greenies want to stop oil gas and coal with no backup it takes years to build a nuclear plant everybody wants one will have to get in line mean while we all starve freeze and no money going around the world becomes lawless riots all over the world is that what we all want
https://www.reuters.com/business/cop/19-countries-plan-cop26-deal-end-financing-fossil-fuels-abroad-sources-2021-11-03/
https://www.reuters.com/business/environment/what-they-said-about-code-red-un-climate-science-report-2021-08-09/#:~:text=This%20report%20must%20sound%20a,before%20they%20destroy%20our%20planet.%22&text=%22We%20know%20what%20must%20be,for%20countries%20on%20the%20frontline.%22
Although it won't be an immediate stop, the future isn't looking rosy for coal. Edenville need that alternative investment strategy as soon as possible.
All I say is that Edenville published what they perceived to be good news, and have gone quiet again.
They are doing nothing to get back investor confidence, which is much needed
Sausage - a fair few of us have been here long enough to understand what "no news" tends to mean....
Seemed to be the peak of activity, no 10,000 buy since, unless they start again today??
The frustrating thing is they gave us the first half of September's output figure, but haven't given us the full September output figures, why not??
Well done Bigeye.
Just got the details of Aerials preferred charity which has helped his grand-daughter through her illness.
Donations can be made to, www.drobinson.co.uk/donate-in-memory and type in his surname Spencer.
I have shared my login details with his daughter Leah, so she can see all the messages from us posters.