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But when he hands his over, he still owns the crumbs, sausage and the egg.
Sausage - me meeting aerial at an AGM and him going "Here you go Greenwolf have one of these special scotch eggs..."
Aerial, when it says hand over of the mine, what picture does that create in your mind?
“It is envisaged under the Agreement that ILTL will enter into a long-term Coal Supply Agreement”
Long term, nice! and pure profit!! :))
pi
Yes, those coal production figures are what we are currently await for.
Aerial yes reading back on rns the balls in edls court to get the show on the road by producing the coal in the first place.
Under the terms of the Agreement ILTL are expected to also become a customer of Edenville prior to the recommencement of mining operations in Tanzania, which are currently suspended as a result of the COVID-19 pandemic (the "Pandemic"). It is envisaged under the Agreement that ILTL will enter into a long-term Coal Supply Agreement, which would see ILTL provide an anchor tenancy at the Company's Rukwa coal project ("Rukwa" or the "Project') by initially purchasing 3,000 tonnes of washed coal per month at standard market rates, before increasing this to 5,000 tonnes a month over a 12 month period.
AND hopefully ILTL’s intention/ambition is more than just being a labour force at a Tanzanian Coal Mine for a UK Company !!
We live in hope!
pi
Edenville will be running their Company and at the same time overseeing everything aspect of the Mine and Mining Operation, and will have paid trusted personal onsite.
I think it would be foolhardy to think they are going to allow the Contractor to Mine without total control/accounting of the coal mined.
The Contractor won’t have carte blanche, there will undoubtedly be very strict controls. The Contractor is basically (hopefully) nothing more than a more skilled labour force.
aimhopdyor
Aerial surely if edl hand the mine over they wont be running it?
Not forgetting Edenville will be overseeing the operation and having staff onsite, on the weigh bridge and security etc. They will be running the company and getting ALL the contacts, as it is their mine! Hardly minimal involvement. The difference is they will not be paying 40 odd staff as they have Contracted a Labour force.
What is mined by the Contractor will be pure profit for Edenville, and as I said will unequivocally initially be the entirety of their income!
Lol, your posts say coal is the future then state they want to morph into something else.
Right now coal is 100% of not very much, did you read the financials they published?
You do make me chuckle this morning, and most mornings if I'm honest.
Good luck all, smile and wave, every dog has its day, we just need some positive facts to breathe life into this old dog. Off to do some work catch you all laters
Sausage clearly doesn’t understand handing over the mine to a “Contractor” and looking to increase production while earning pure profit per tonne initially will be Edenville’s entire (100%) income.
He also thinks the fact that they intended to diversify is his idea!
I’m sure I read it in a RNS somewhere pmsl
I love the way you are coming around to my way of thinking, that Edenville will morph into something different. That's made my day.
Lol, you do make me chuckle aerial.
Why is it a contradictory statement? Handing over the mine, and simply taking a cut of sales is minimal activity on Edenville's part.
It's unlike you to post a message to simply get a response!
Sausage thinks:
“At best coal will play a minimal part in Edenville's future.
Maybe ££ per tonne sold at best. Edenville won't mine it”
An amazingly contradictory statement lol
As you say esquimo Coal is clearly the future and will finance that future, and if they get bought out it will be the money from Coal that will be a very substantial part of enabling them to possibly morph as it appears is their intention at some stage.
Love it or hate it “Coal is key” !!
SoS, read your post if that reasoning keeps you happy I wish you well. Let's see what the next RNS says.
Re aerial and ILTL I think he is quite clear that that the failure of the take over was down to Covid.
Why would ILTL import personnel from global locations to a country who's president said go to church to make yourself immune to Covid?
Fortunately businesses realised the problem.and took their own precautions hence EDL's lack of production.
Staffing was a problem and still is due to Covid but it is easing.
The 3k tonnes pm, why would ILTL import their personnel if production is still hampered by the effects of Covid, I think ILTL have their own personnel's health to think of and who could fault them on that.
So 3k tonnes pm increasing should ease their concerns and give them some encouragement to take over.
The price of coal in S Africa I believe is up over 40% I can't see ILTL turning down such a lucrative opportunity when they were prepared to take over a year ago on a much lower coal price.
Coal not EDL's future??????? It will finance their future even if they are bought out.
.
Esquimo, you ask "If you can explain to me how EDL is going to increase shareholder value in the next 12 months by a means other than coal I am all ears."
As such as no one knows what the future holds this is my opinion on Edenville's future
They are going to need to get to 3000 t/m over more than 1 month, so my view is the handover isn't going to happen in August.
If they can get it to 3000 t/m there is going to be a choice. Hand over or sell up completely. At best coal will play a minimal part in Edenville's future. Maybe ££ per tonne sold at best. Edenville won't mine it.
They may sell up completely
The money raised will go into the acquisition of a company that already has an extraction licence for, say, rate earth minerals, helium, gold, copper.
I think Edenville will change its name
Edenville will issue a new investment strategy
At that point the sky's the limit on the share price
But most of all we just need news. If it's bad news we just need to flush it through the market. If it's an announcement of concrete facts that's good, we have to stop these jam tomorrow RNSs.
[Context: https://www.y o u tube. com/watch?v=-hJQ18S6aag]
Picnic basket?
Quite clear:
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”
“further expansion of production capacity at Rukwa may be required”
Coal is key, and will be for the foreseeable future unless we are lucky enough to get an offer !!
Can anybody tell me what they think AM and NvS have brought to the company??. …
SoS, TB is exploring future acquisitions, he says. What are they/ How will they be funded/when will there be a return?
Coal is at this moment in time our only source of immediate income and according to the RNS our future income. If TB can improve on that all well and good and who will argue? The RNS is quite clear our immediate future is coal. If TB can improve my share value by diversifying (I don't mean in another ten years) then I'm all for it.
If you can explain to me how EDL is going to increase shareholder value in the next 12 months by a means other than coal I am all ears.
As I've said, this I'm sure will come good, but for me we will be a very different looking company when it does, even potentially a name change.
Esquimo, you missed this bit....
"On the acquisition front we have recently spent time with our new strategic investor, Tony Buckingham, and we look forward to exploring opportunities with him and his team, alongside those provided by other parties."
Acquisition front.......
NvS also states for a variety of reason coal is not the future for Edenville.
Aerial I've said it before SoS seems to have a rain cloud hanging over his head the size of a dustbin lid.
When the interest in trading picks up I will take that as indicating news imminent.
We should now be in a genuine transformational phase but we need that update !
I have no doubt that the increasing price of coal will be causing some intense discussions re contracts.
We shall see what the rest of the week brings.
esquimo
Sos obviously sees what ‘others’ don’t!, and now hedging his bets covering as many scenarios as possible in a single statement. lol