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Agree that it is a slam dunk re the investment and share allocation, voted for it myself. I think they would have held back any operational update due to this and expect that tomorrow morning/this week. I also hope as part of the operational update they set out the high level strategy ie what are they looking to expand into. This must be agreed as part of the overall deal and post the AGM then they are free to provide more details. I wonder whether they will partner with someone - provide the land and use others expertise / license ie HE1 (probably a bit of a wild idea). They have shown a willingness to partner already. Also there maybe news on talks with the government as well. Well all to play for and interesting times ahead. DYOR of course but I am in.
Decided to add more as news very positive. The only point of uncertainty for me is whether they will provide greater understanding of the revised strategy more prior to formal agreement to the proposition (unlikely I would suspect, though ratification of the formalities a certainty) and and the timing of the handover. Both are going to be forthcoming and this will result in a major uptick to the current price. Once the news information flow is unlocked there is plenty to look forward to - new contracts for the coal, output, new assets and strategy details etc.
so news tomorrow everybody?
Yep its my Bed & ISA.
My price target is initially back to the 50p level where it was last year but then I think the handover news will push it into new territory and we could see 60-70p pretty quickly. Then it is down to any new sales contracts, successful mobilisation and output / sales.
So news imminent me thinks but going to stay at my holding which isn't small!
Fair enough. Lots of negativity around but also energy is there to move forward. Happy to see what the market decides.
Tradegate up over 14% before doors so going to be interesting. I think the losses are lower than expected and the extra liquidity secured at a 25% premium could be why the price was forced down over the last few days. The bottom line will be that demand will be high as everyone is sick and tired at being at home and want to have some fun so pubs, cinema, attractions will be in great demand - plus you can't travel anywhere for a holiday so you need to find things to do on your doorstep! Well we will see at 8.01...
it was
Well, trying to be patient as we await the handover. Great that the price is moving up ahead of the big news. Would be good news if it reaches the 45p to 50p range prior to the RNS. Then you could see the 60p to 70p range being breached in short order. One week and 1 day until some kind of RNS (they can't slip into March without briefing on progress per their last RNS - even if it is maybe another delay. For those looking at this first time DYOR but we are on the brink of news that is likely to add excellent impetuous to this share price, after a few false dawns to be fair!
Apologies, my last post didn't make sense...I was LOL to SOS comment on the Zak Mir podcast 'Love the joke about Edenville shareholders have had a **** time recently'....as it is pretty true!
Hahaha...he is right.
Good to hear Zak Mir's thoughts. Personally I do think 80p is achievable in Feb but next stop is the 50-60p and so much depends on the handover taking place. Any new contract news would be the icing on the cake. Expect 50-60p range in next 2 weeks I feel on anticipation of the handover.
Per my other post I bought 2x£5k at 35p....why not!
Hi Sausage, I do think the good news will quicken up and be more frequent but the main one is the handover and any new contracts. I bought more when it dropped to 25p and must admit I was beginning to get worried due to the delay. Feel better now but can't see this below a 30p buy price so probably decision is to buy at 35p or 30p. My other issue is I am heavy already so there is a commonsense aspect of not all your eggs in one basket etc and if it shoots up I will be very happy and if it goes down, I can live with it for a bit. there you go group therapy works, I will hold and not buy for now!
Hmm, debating with myself whether to buy more, already have a considerable amount but the only way is up with this share (as long as they can handover in Feb)...decisions, decisions...
First of all for transparency I hold a sizable amount of these shares, so of course prefer to be an optimist than a pessimist. Last weeks announcement removed my main concern (I was not worried about Lind as money always talks and no one wants to lose - always a solution). The main concern being whether ILTL would pull out of the venture due to the delay as I feel they are the source of my and others optimism. EDL have demonstrated that they do not themselves have the capability to mine the expected tonnage and having a tried and tested company operating the mine removes this concern. The mine currently has capacity for 12500 tons (which is great news as this was a target on RNS 26th August 2020) but it needs to be delivered and also esquimo (post 528) asks some good questions on shifts, output etc. I would think they would try to increase capacity in the near term, especially as they are likely to announce new contracts (they state they are in discussions - expect these to be announced before operations commence). Turning to sales - on the RNS 8th June 2020 the sale price per tonnage was pre-agreed at standard market rates (currently 65$ per washed tonnage - circa £50). At the standard rate this means delivered 12500 tons of washed coal per month would result in circa £625K or £7.5m pa (12500 x £50) and then transport costs are added. IlTL undertake to provide an anchor tenancy of 3000 tonnes (£150Kpm or £1.8m pa) immediately rising to 5000 tonnes (£250K or £3m pa) over 12 months (RNS 26th August 2020). Taking the £250K pm target (5000 tonnes this should easily be achievable and therefore the current market capitilisation of £3m is woefully inadequate (if you take into account plant and machinery and overall tonnage in the mine). Considerations are the rainy season but in the RNS 20th August 2020 they stated that the main access road and road to the northern pit to the wash plant were mended and since operations are not due to start until Feb some of the rainy season would have passed (also they have been meeting per-ordered sales as well). Funds - they have the proceeds of the recent placing less Jan payment to Lind so circa £750K plus they still have the 1m$ loan agreement as part of the overall relationship with iLTL (not sure what has happened to that though) - so funding not an issue. Looking at the 12500 capacity and my previous figures then a market capitalisation within the next 3-6 months of around £6-7m would not be unreasonable resulting in a shareprice (even with the new shares) of around 60 to 70p. Add new contracts and rise in capacity (with more detail on production numbers and the dry season from April, then potential for much more. Of course just my musings and DYOR which is what I have done! Good luck all.
Yep I did SOS. Mentioned it on one of my messages. With the handover more likelihood that this capacity will be used!
nm.
Remember this was frequently around the 0.55 (in new money) area prior to the delay and I fully expect it to go back to this level prior to handover at least.