Member Info for comeonvog

And then this RNS 9th Oct 2018 ............Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, is pleased to announce that it has signed a significant contract for the supply of a specialised coal product. The customer, an industrial group operating in East Africa, will use the coal as part of its manufacturing process. The terms for supply are set out below:·
the contract is for the supply of 3,500 tonnes of coal per month with an option for the customer to increase this up to 6,000 tonnes per month.

Commenting, Rufus Short, CEO of Edenville said, "I am very pleased our team have been able to work alongside this customer to ensure their needs are met and that the Company can look forward to supplying the Customer coal for at least the next two years. I look forward to providing further updates on the progress of the operation as we expand and enter into further contracts."

Lets not forget this RNS 22nd Aug 2018.....Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, is pleased to announce that it has signed a contract with an East African industrial group (the "Customer") for the supply of up to 4,000 tonnes of coal per month on the terms set out below:

aerial is it though , or just the buyer selling out first thing this morning.

All the cash sunk into this project and they can't even produce 1000t in two months, its a joke and RF is still involved creaming off the cash.

Rocket13 . Do you not find it strange how suddenly they have these "contracts" but couldn't even produce more than 820t from 21st sept to 29th November .

Really. The Rwanda contract is of particular note to the Project as it has the potential to open up a major new transport route for the Company's coal on Lake Tanganyika to both Rwanda and Barundi. This is a route that is both shorter than conventional truck transport and is more cost-effective, using low cost barge transport.
That will be fun to follow. who will buy the Barge's, hope they don't sink lol

The traders want you to buy in so they can sell. LOL

They have stated they need cash.
In order to satisfy the Company's immediate working capital requirements, the Company has entered into an agreement with a private lender to secure a non-convertible £100,000 loan (the "Loan"). The Loan carries a fixed coupon rate of 20% per annum and must be repaid on or before 25 February 2020. Including the Loan funds, the Company currently has cash resources of approximately US$190,000. Whilst this will provide the Company with sufficient funds for its immediate needs and enable Edenville to satisfy orders from an existing customer, it does not provide sufficient working capital to enable the Project to operate at its planned capacity, nor to continue the 2020 monthly payments to Lind in cash.

recent production levels have been significantly lower than this with 820 tonnes of washed coal produced from 21 September 2019 to the present time.
Consequently a balance of US$835,760 now remains outstanding under the Funding Agreement, repayable on a monthly basis at an amount of US$50,637.38 per month.

ye what ever , Huge placing next news and all the money used to pay the BOD wages.

Is that not the whole problem. The BOD wages take all the cash raised .

With no money

brightspark. Dont try and suck people into this, th have stated they need cash. Big placing on the way . Time to buy after that IMO.

Big placing to look forward to first.

Whilst there is currently no certainty that these negotiations will lead to a successful outcome for Edenville, the Board believes that the two coal new contracts increase the attractiveness of both the Project and the Company for potential investors.

brightspark Why great, they need cash.

Progression of these supply arrangements is, however, dependent on the Company securing sufficient operating capital to fund production, as detailed in the Company's announcement on 29 November 2019.

Yet another stitch up to fleece investors , sorry for all invested here.

I hope BMR Watch can sort this out . AB do you have no shame, give something back we have family's to support .This was supposed to be an investment and also help out the local community and clean up Kabwa not just line your eval pockets.

there is no stopping you JL , get that win bud. ;-)

Morning JL hope your well. This looks a nice stock to hold and i often read your posts . ATB

On a Friday might have caught a few by surprise. So the sale is still on for $10 million , near half our MC . GLA