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In the Variation to the Terms of the Funding Agreement section of the 29/4 RNS the reference to consolidation clearly relates to the Lind Loan and the addition of a Variation Agreement which was required as a consequence of the working capital constraints put on the company by it's shareholders, as most will remember.

It appears that a meeting could be convened and a proposal made to approve a 100:1 consolidation. The section of the RNS as BigEye mentioned is extremely ambiguous, but everything within that section appears to relates to a set of circumstances that might occur solely to do with the Lind Loan.

Having read the RNS now many times, I cannot see why a consolidation of shares in this instance would apply to the entirety of the shares in issue. My personal conclusion is that in this case 'consolidation' means the integration/amalgamation of the Lind shares,.....but I could be wrong!?...

All imo pdyor

I haven't been keeping up with the news,.......but think we'd be better off if we got rid of Margaret Thatcher!! ;)

"Adding these new trucks to the Company's fleet should reduce the Project's mining costs and enable greater flexibility and extended usage in operations. As the Northern Mining area continues to yield encouraging results, our reliance on contractors is diminishing and our overall efficiency improving. I look forward to providing our shareholders with further updates regarding overall progress at the Project in due course."

Gets better every time I read it !!

Enid Blyton & Beatrix Potter have been at it again lol

I’ve scanned that (long) RNS on my mobile and don’t know where this idea of a publicised consolidation has come from? To the best of my knowledge NO company has ever given 6 months advanced notice of their intention to make a placing or consolidate of it’s shares. Consolidation information is usually days before the action.

In April the company said: “Following on from the Open Offer, the Group has undertaken the Placing to fund the Company's ongoing operations at the Project and to cover other general working capital needs during the course of 2019”

Looks like pure drivel to me, BUT please correct me if I’ve missed something !!

I'm on my mobile for the foreseeable today, so could someone point me in the direction of the RNS that said there will be a Consolation please.

jazbo
'Taken delivery' Not 'Taking delivery' Which means they had them on or before the 21st August. These new trucks are an ADDITION to the Company's fleet !!

Islangirl

I think it was more a case of they couldn't afford their own lorries. As I remember owning was on their wish list in a previous RNS somewhere. It's taken a very long time to get to this point, and more recently many of the pieces appear to be falling into place. Never forgetting the original envisaged project length and the (extendable) mining licence length.

I still genuinely believe more credit should be given (and think it is outside these boards) for what HAS been achieved, and as I said the other day WHEN they eventually hit some targets and move into the black they will be unique in Tanzania and possibly in East Africa, and that ALONE will be no mean feat imo

I am still hopeful that Edenville will get a similar request to Kibo and be invited by the TGov/MEM to continue the RCPP as part of the cooperative venture in the $465 million (PPP) and adding to the (EAPP) Eastern Africa Power Pool and Southern Africa Power Pool (SAPP).

If not, we have a Revenue Producing Coal Mine and a VERY GREAT DEAL of COAL !!

Never forgetting there is more than one scenario here :))

All imo pdyor

Max
No I was referring to the sp knocking on another day
high. Not quite there, but knocking on the door currently!!

Maximus10

Who?

on heavens door!!

Edenville bought the wash plant from Fergussons.
Whether Edenville's Scottish Engineer is on longer with the company.
Whether the Trucks are 2 days away, or on site is NOT of any consequence on it's own.

What IS of consequence is if there is somebody on the ground that is in a position to leak uncorroborated or possibly sensitive information !! Whatever the situation the company are now aware!

No mines working fine !!

Flying (compared to recent days) at this moment !!

Smashing it

I've changed my mind and have just sent Rufus a text asking him (if non sensitive) to corroborate the new posters statements...

Minus to +5.45% in the first 15 minutes - Spread 0.08 to 0.94 on NO Trades..... Book Spread 17.5% ????

JohnZ
They are irrelevant uncorroborated statements, any of which I'm sure Rufus will answer if I give him a call, but I'm not going to waste his time on something of 'no consequence' that will only be proved or disproved. If Diggerman is honest he will surely answer all questions willingly !!

Diggerman
A simple question from BigEye: Where is the information from?????

BigEye
You are absolutely right to ask the questions, ESPECIALLY from a new poster that arrived out of nowhere with more uncorroborated statements than I have seen since the days of Sumbawanga !!

There are some very strong similarities with Sumba. He/She made hundreds of statements and never ever engaged in a single conversation. Then inexplicably disappeared without trace, but then, (wait) his head was claimed by larrysumbawangajogonsongrayson Ha Which actually isn't true, but larry like people to think it is :) You really couldn't make up!,.... Well that's not entirely true! lol