Member Info for bottom_feeder

This in my view is seriously worrying.

AEG originally stated that they had the funds to move and recommission the 5tph plant.

Now they raise further funds and imply part of it is needed to expedite the recommission process. Surely the BOD can't think that we can't see that they're pulling our legs.

This raise hits all of our pockets and, given that they have been seriously incompetently SLOW at managing everything to do with this plant, I've got to the point that I've sold my holding - so I'm out for the time being until this drops or they announce that the 5tph plant is not only commissioned but is actively generating the maximum Coalswitch it can (not some puny test samples etc).

The AEG BOD is just diabolical at this point and clearly more interested in getting in cash.

Anyway, I hope this all works out and I might be back on board soon :-)

In for a penny (if only it was a penny share lol).

Having +ve Revenue of £0.34M is unfortunately meaningless as any form of guide. The 2018 results show that the net loss increased by £0.6M which is more than double the Revenue and so represents increased debt. Also consider that Total Liabilities increased by £0.69M.

That is quite a negative state overall. My view is that a company is not truly Cash positive until it total debts are smaller than its post-tax, net profit. So EDL has some way to go before reaching that point.

Obviously, we all want the company to reach the point where it is not ONLY break-even, but is able to begin reducing its total liabilities at say 5%-10% per year.

It's not yet clear whether EDL can mitigate the increases in Liabilities, including any incumbent interest etc.

However, on a positive note; it seems one or more posts were implying that EDL would have to increase their current monthly coal production by a factor of 6x (presumably because it assumed that EDL is only producing 1tpm at present. Given the info I've seen in the RNSs and on the company website this assumption appears incorrect.

EDL indicated that their 2018 total Coal production appeared to average 1tpm per month, however this is in my view based on the fact that they were ramping up over the year as well as being hit by funding delays, bad weather etc.

In fact, if you look at the EDL website and look at their indicated Coal production they clearly state that the current monthly production is 4tpm. So they should only need a 50% increase to hit their 'stated' break-even status.

Given that they have now prepped the Northern open bed, it looks like they could well surpass the 6tpm in a matter of a month or two at most.

So how does this affect the share price? Realistically it shouldn't do much as break-even still leaves increasing debt which they need to begin reducing. So the important SP rise will be when they get past at least 8tpm+ (imho).

Thankfully, any RNS stating that they have reached or surpassed their 6tpm consistently still have a positive effect on SP :-)

Here's looking for a really good RNS in the coming 4-6 weeks.

Hi 1Squadron,

Good advise but you miss the point. It's necessary to give a counterbalance to certain posters to ensure other readers know them for what they are.

I do however make my decisions on more 'grounded' information, as well as from certain Posters who I believe are genuine and offer good advice. As I noted in my previous comment, it should be clear that the matter in question is no resolved and we can all move on.

As for AEG it is a short wait (1-3 weeks) to find out if AEG will indeed release a RNS announcing completion of the 5tph plant build in Lumberton. I suspect they are aiming to release the good news just prior to, or at the AGM so they don't get too much of a bashing.

Seattle: Sorry....... that doesn't wash at all! What utter Tosh!

If you were refused permission by the publisher from sharing then that would also cover sending people hard-copies.

So you've already violated their privacy and confidential agreement as a member.

I guess you'd best hope they don't find out :-)

Goes to show that everything others say about you is correct. So no more games Seattle. Just post investment based tvalid info in future as your games are becoming tiresome. I'm not going to filter you as it's so easy to ignore you :-)

Seattle:

In a previous comment you said "Hi Guys , I have on email 3 reports in “word “ published this week , I don’t know how to do links ...."
Okay. Instead of asking for addresses (which could be false anyway) and spending time, effort, cost etc making and sending hardcopies; why not send them electronically for any of us to access as follows:-

1) Go to "https://www.dropbox.com/basic" and open a FREE online Dropbox account.
2) Download copies of the 'Word' documents from the email that you should have to Dropbox
3) Copy the URL provided by Dropbox for the folder containing the files
4) Ensure the folder is 'visisble' to everyone.
5) Past the Dropbox link into a comment on here

Hey Presto - its done.

Lot easier than making paper copies etc don't you think

Now that's a great proposal!

Shame AEG BOD can't think as proactively as that :-)

I'm actually beginning to think it might be better to license the AEG tech and go do it myself..... Do you think they'd accept a License fee of £100 per year :-)

Hmmm, interesting..... doesn't deal with "Retail Investors".

So what exactly is Seattle's position then????

Looks like Seattle has some expaining to do :-)

P.S. Thanks HK for sorting this for us, much appreciated.

Hi,

I'm not sure as to how the actual screening, crushing equipment is but, given that the Northern section is likely to produce both greater quantity and quality of coal, is there not a financial and production incentive for the company to move the post-mining equipment (screen wash etc) to the Northern section????

After all it would be also more productive and financially cost incentive to have a smaller number of trucks moving mined produce from the current sector to the Northern sector?

Anyone have any ideas or knowledge in this area?

Could it also be financially viable to replicate one or more pieces of kit at the Northern sector as this would provide redundancy as well as meaning trucks would be carrying more refined product between sites??

I really think ScoutS and HK have nailed Seattles position regarding the lack of providing a link to this 'miraculously' inspiring and in-depth report from SP-Angel.

Seattle; stop messing others around. If you want to post a link in a comment here is the utterly simple process for doing it:-

1) Place the mouse cursor In the Link (URL) box at the top of the page you are referring to from
2) Depress the CNTL key (i.e.keep pressed down) and then press the 'A' key (this will cause all the URL text to be selected)
3) Let go of the keys then Depress the CNTL key followed by the 'C' key (this copies the selected text into your clipboard)
4) Place cursor in the comment box; depress the CNTL key (i.e. keep CNTL key pressed down) and press the 'V' key.

Hey presto - the URL magically appears in the comment box - wow! I'm absolutely sure though that I've seen comments from you in the past with links in them :-) :-) :-)

So SEATTLE, stop messing around or procrastinating........... on you go - prove yourself right, it's sooooooo easy to prove others wrong about you - why wouldn't you take this golden opportunity to show your mettle ....

Seriously!

Whoever thinks the 'results' are good or aren't that bad isn't thinking about the level of expenditure versus 'actual' achievements.

Over £2M in Admin costs alone! Where is that going then....

The only 'notable' expenditure that nurtures forward movement is the 5tph Utah plant being built.

But the Utah plant was CLEARLY under-utilised and wasted much needed potential. Moving it to Lumberton for rebuilding and commissioning has been painfully, labouriously slow too and smacks of sheer lack of organisation. For example, it did in fact take around 1 week to ACTUALLY transport; but took over 5-6 weeks to do it.

In addition, they get the components to Lumberton; only to say that they haven't organised the necessary engineers to be there to rebuild it for at least another 2 weeks later - now that's a FIASCO!

I don't disagree that the POTENTIAL for forward commercialisation is there but given everything so far it will likely be another 1-2 months - any more and they can kiss goodbye to the SP staying above 0.3 at least.

As for the Newfoundland FIASCO that's an utter shambles to. It would have been prudent to at least either move one of the larger Test Reactors there and commence small scale production or commence lumber supplies for the local/regional Sawmills - yet NOT a dickybird on that.

There is no reason why the lumber processes in Newfoundland couldn't be commenced in parallel. If people are wondering about financing the lumbering side then that could have been 'contracted out' locally; with the sub-contractors taking their cut; but at least generating income..... That's what a PRO-ACTIVE management would have done.

Anyway; this does look like its heading for the low 0.3 or below and a potential fund-raising via new shares or warrants/bonds - all of which will jeopodise current shareholders funds - not pretty at the moment.

So, those supporting Mr Rowan (or the angel 'Michael' as some seem to be on first-name terms) need to think more clearly about what he (and the BOD) have ACTUALLY achieved.

They have 2-3 months to prove their worth (imho) then its curtains.

I think the reference to "....other recent developments..." is refering to the improved pre-washing process they refer to in the RNS which will give them a greater yield of Caol grade product; as well as the nearly washed 10k tons.

Seems good news and indicates that they may/should be able to increase 10Kpm earlier..... or at least on target.

Personally, I don't think its that good at all.

The Tencate agreement requires AEG to provide staff on behalf of Tencate which will incur a loss regarding their wages & Tax obligations.

Additionally, the agreement states that AEG must provide 'certain' equipment Which may include Forklifts, storage racks etc. So the $204k begins to look rather small. This depends on how many staff which isn't indicated; nor is the equipment specified.

As for the RLS agreement, well...... seems a very small rent and smacks of a bit of hand-shaking as there is clearly Director involvement. I'm not sure the $60k rental is really considered a true reflection of the 'normal' rental costs - but I guess that's for the relevant Financial & legal authorities to consider.

Personally, its way too little.

And of course - there we have it - the BIG confirmation that they haven't even started constructing the 5tph Plant - Jesus what was it that "Guvnor" said they couldn't arrange ..... urination, brewery etc.

Sorry, not good enough......... where are these so-called 36 employees when you need them???? What the hell are they all doing?????

Maybe get AEG to confirm (at AGM) in detail what the Staffing, wages etc they actually have have and where they are, what they do and why can't they be used on priority activities like getting the plant up and running?

I'm wondering 'when' the RNS will be released regarding the status of the 5tph Plant?

Likely it will be 'very' prudent for the BOD to announce it just before the AGM (to hopefully save them from a mauling)

The previous RNS stated that the engineering team where going to arrive 'WITHIN' the month (i.e. June); but of course that could mean they don't arrive to start building the plant until 28th-30th (fri-sun).

Since there's been no info about the build process being started I have to assume that there's no progress there yet - but others on here might have better understanding/knowledge?

Given this it looks like any real production isn't going to start until nearer end of July (but we can only hope its earlier and not heading into August+).

The longer we wait for info on this, and the AGM, the more the SP is going to become shaky.

I might have to consider the possibility of of cashing in on the basis of being able to buy back in on a further dip and gear-up?

Anyone got any 'real' intelligence/info on the status (p.s. no 'rumours' from social media etc please)???

I agree guvnor :-)

When I saw the news I also wondered whether this will spur an RNS by AEG about the status of the Lumberton progress - doing so now while this news is active should spur things along.

Hi,

For my penny's worth; looking at the historical charts this seems to fit in with past drops (aug-sep'18, jun-sep'17, aug-nov'17). Possibly a bit earlier. Possibly also a result of funding rounds etc. I suspect the MMs and bigger investors are playing games too; which is only to be expected.

So, given past experience and 'trends' (if you choose to respect/believe those) this could well be heading down further; maybe 11-12p range.

I just wish I had incoming funds to average down sob sob sob (anybody want to loan me a few million at 2.9%)

Damn!

Looks like its heading south again. We really need 'positive' news that indicates production has started or a supply contract signed to shift this north.

As far as I recall the last round of funding was supposed to raise enough funding to support the Lumberton purchase and Plant transfer, construction & commissioning. So, in theory future funding should only be required to see them through scaling up processes.

So, as previously mentioned I'm hoping AEG can initiate 1 or more small contracts near the end of the year to tide things over and show the market its opening for business.

Wow!

Clearly your expertise and knowledge will prove invaluable to others on here.

I also thank you for clarifying the RNS contents wrt Terminology content etc. And thank you for clearly outlining your previous connection with AEG; which to be honest sounds like they should have kept a meaningful business contact with you.

As you say, upto 6 months to rebuild a small plant is exceedingly..... shall we say..... Under-performing :-)

But, likewise as you say, it may be that the AEG BOD want to be able to spring a 'perceived' faster-than-promised event completion - although they would have to do so within the next 2-4 weeks (rather than the 'months' promoted).

I think my main concern, and that of others on here, is the underlying finances available to move forward, and whether AEG can acquire further funds, preferably via 'test product supplies' or real supply contracts (at least with their currently mentioned partner.

Do you know if AEG are supplying large Test Samples free of charge or some form of minimal fee charge?

I have just under 4 Million shares so hoping the current SP doesn't drop below the 0.4 support level - but we'll see. I did want to increase to over 10 Million but I've decided its best to hold off for the next 3-6 months and see whether AEG can actually begin to act with far more business acumen and show better planning & management.

Ultimately, its clear that the AEG BOD are releasing more RNSs, probably in a hope to 'ease' the upcoming AGM. I also would like to think that my numerous messages may have given them a bit of a concern that Shareholders are reaching the end of their tether and its prompted them to become a little concerned that they need to show a bit more communication.

My concern is that if AEG put out a call for further investment they may not get it; because my view is that I would not want to invest any further until there is a very, very clear improvement, particularly in getting the 5TPH plant actually up and running with [CS] beginning to be stockpiled.

Yep, Scouts is right and we've made our minds up about you :-)

Hence why we pay no attention to your posts

(P.S. Only responding so you know what we think rather than out of any interest for what you say lol)

Hi Guvnor, thanks for response and info regarding the '3' Test Reactors.

I am concerned regarding AEG's use of terminology and your info about the 5TPH plant not being ready until end of 2019.

In AEG's 4th June RNS they stated that the 'Test Reactor' was delivered and up-and-running; they also mentioned that the 5TPH plant would be transferred and engineers constructing it by end of the month (aka June).

BUT..... the 10th June RNS then refers to additional 'Test Reactors' being delivered with engineers working on them within the next 2-3 weeks.

So..... where did the additional Test Reactors come from and why no mention of the 5TPH plant in 10th June RNS?

Its very concerning that AEG should say in their April presentation that the 5 TPH plant on't be ready until end of 2019; its not a big plant and should be constructed in a matter of weeks; similar to the first Test Reactor.

So far it 'seems' that AEG now have 3 Test Reactors (of different sizes) AND a 5 TPH plant.

If the 3 Test Reactors are now delivered then where's the 5 TPH plant? and why say end of the year for its construction? Very confusing and I think AEG needs to clarify their reactor versus plant inventory more clearly.