Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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MT
Sorry I’ve only just seen your reply. Yes good thanks, and likewise still locked-in.
JohnZ is still here posting regularly. Areyousure hasn’t posted since April 2019 so don’t know about him.
Sadly all lth’s are pretty much in the same boat, but hopefully with a resolution to the Lind issue and some good news on the handover and new partnership etc, things might at last be about to change.
We live in hope!
Indeed Sausage some amazing creative accounting on FX
to reduce the loss on paper!
"translation of the Tanzanian subsidiary accounts from US Dollars to Sterling..."
PMSL
For the six month period ended 30 June 2020 the Company generated revenue of £16,003 (H1 2019: £151,140).
The Group made a loss after taxation of £626,398 (H1 2019 loss of £888,045). The net assets at 30 June 2020 amounted to £6,541,900 (30 June 2019 £6,367,559).
The total comprehensive loss for the period was £179,894 (H1 2019 loss of £887,339), which included a gain of £446,504 (H1 2019 gain of £706) arising from the translation of the Tanzanian subsidiary accounts from US Dollars to Sterling
They need to borrow the money from ILTL and pay Lind, it pretty simple to work out
It is also worrying that the funding agreement issues with Lind appear to still be problematic, and that they are still demanding full payment by a date they think/know we can't manage, this stinks of them applying pressure with ulterior motives, and this partnership as it were in my eyes is now over, and i don't expect any other outcome other than an expensive legal one to finalise a new payment time scale to get rid of Lind as funding partners, in the mean time we aren't paying back any of the funding loan, that's not good
esquimo
I’ll definitely be adding up or down :)
PS to my post, depending on market reaction I will look at this as an opportunity to grab a few before what will happen on the handover. We are nearing the intended goal after what seems a millennium
Sausage going for it today, clearly on interest in the company..
Sadly the interims have confirmed what a certain Diggerman posted, I would imagine he is saying "I told you" . When EDL didn't refute what he was saying, there had to be something in it.
This is just another in the long list of delays due to to dealing with the TZ gov.
Filling ongoing contracts is, to say the least, vague re production.
All the more food for the naysayers.
Summary for anyone joining
Read today's RNS, it's all you need to know.
"The Rukwa mine has been operating since operations recommenced on 3 August 2020 and continues to fulfil its pre-purchase orders. The Company successfully restructured its staffing requirements during the summer and can confirm that employee numbers on site have been reduced by circa 50%"
that screams of a company that can't sustain operations, had to cut staffing levels by 50% just to fill orders already paid for, so basically again working for no income as that will have already been factored in in those results.
Indeed, and they haven't used the Tanzanian election as an excuse yet so that's in the back pocket to use at some point.
Will we reach nominal value over the next few weeks?
"rainy season is fast approaching"
enter excuse number 100
markettimer,
No one can put a positive spin on Revenue 16,003.
It clearly shows Edenville can't increase production or are they able to fulfill existing orders. The mine hand over has to happen at the earliest point but the rainy season is fast approaching.
Cost of sales (227,350)
Gross profit (211,347)
oh brother that is shocking, wtf is the point of selling something if it would cost you less to simply give it away, how the fcuk does someone run a business that badly ? someone needs to go, you can't release information like that without consequences
for me, who needs to average down, this has gone from a turn around play which could make me money to another in my portfolio that i'll be lucky to ever break even on, if it doesn't go belly up and cost me everything i've invested.
MT Are you still invested? I thought you said you were moving
on when we were at the AGM with JohnZ and areyousure?.....
Mr N are you for real? Do you think the delay to the mine handover and no solution to the funding problem can be described as not reading badly?
No one is going to be asking people to sell their shares but just face the facts and look at what is written and not what is implied.
You keep focusing on a jam tomorrow run the facts today.
At the very bottom. Lind have stated that all monies owed must be paid by 30th November 2020. Discussions ongoing..................
Actually doesn’t read that badly to me.
Assuming the visa delays are genuine...
So... handover by end of November...