The main reason people are on here giving negative comments is pretty clear to me. They sold last week and made huge losses and now are praying for Sng to fail so it can give them some comfort. If it succeeds over the next year then the decision they made will haunt them for the remainder of their lives.
I think we had a lot of speculative buys earlier thinking this was going 20-30% up on this news. All those new traders are selling at a loss because they got it wrong. That probably explains the drop back.
We have the exact rns as Jangada mines today word for word. I wonder if some kind of deal is happening between the two companies or is it just a coincidence????. Jangada do have excellent assets.
I held this stock for over 6 years. I invested 20k at an average of 0.003. I sold throughout July at the very top and walked away with close to 500k. I thought I made the worst mistake of my life when people were predicting 50p to £1. So glad I did what I did now. Its time for me to buy back in I think.
Political issues doesn't seem to be affecting Kodal who were granted a mining licence today in Mali so I don't think that can be the reason for the drift in SP. Top up time I think.
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.
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.