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Shambolic. £600k burn since January. 500 tonnes. I buy a tonne a year for my fire. It just shows how little a tonne is. (Thats 40 bags of 25kg coal). No one can defend that. Every time I pop into EDL to have a look it gets worse. So pleased I left with the loss when I did. I have no words.
Has the SP risen 22 percent with an RNS like that. A tiny amount of coal waiting to be washed. They’ve taken the advisor back on when theyve been extracting coal which seems was in the wrong place. The weather is now the excuse. AGAIN. Not only has output been poor. It’s going to get worse. But hold on. We may now give some of our mine to a strategic partner. Seriously!!
We will be back to sub 2p if they don’t get there finger out with the DFS. No news destroys the sp on aim. So far 10 percent today. I won’t say I told you so.
On no news. There’s only so much patience an investor can take until it starts becoming a bad investment. Please update the market ACP on whatever your plans are!!
or why not do both? It’s not hard to whip up a flash newsletter. It takes minutes. A conversation with your grandma would take longer!!
And sentiment is key to the upward trend of the sp on AIM. If I were the board of directors I would put out flash newsletters to keep shareholders informed with and when what is the current situation. Even though the news may not be material it would at least perhaps keep the sentiment in the share positive.
I know you don’t want to hear it but just get out. Lie after lie. They’ve spent millions here for 820 tonnes of coal a month. It’s laughable. To put it into context I bought a tonne of coal for winter. 820 tonnes is no coal at all. I lost half my investment here but I caught on it was one of “those” string along shares after the broken promises kept appearing. It’s still happening. Keep well away in my opinion!!
Years of promises. EDL are now on 1000 tonnes a month .... give or take of sellable coal. Will they even get to break even? A figure moved from 10k to 6k tonnes of processed coal. Nothing here has changed. The clap happy brigade will big it up. BUT the company has to increase production 6 fold to break even. Even if the Northern pit was double the current output (NOT going to happen) you would be 3k tonnes a month short. DISASTROUS figures!! How long can a company run on losses and scramble for placing after placing. My broken down lawn mower runs better than this shambles!!
Most RNS’s need to be of value to shareholders. Those of us that sold early (25 percent loss) can now buy in with much more value than before. In my case 6 ttimes more than when I sold. So one can keep the loss to a minimum as I would have now nearly lost my initial investment. I’ve said it before and I’ll say it again. Never get attached to a share. Will I buy back in now. As of yet.... not on your belly. To many Placings and still no numbers!! Break even miraculously went from 10k to 6k tonnes of mined coal. Either there’s a new accountant in town or someone still can’t add up. That’s a 40 percent reduction in costs. I just don’t buy it but I hope those of you that are invested prove me wrong and make lots of profits.
Has changed here apart for some short lived excitement. Let’s see what comes from the dangling carrot of 10,000 tonnes of mined coal a month. That’s useable coal and not fines. So that figure of 10k is actually a scarily much higher figure that needs to be mined. In the meantime the company still needs to pay a 45k a month loan.
A few of you managed to get something back? The reality though is to repay 45k a month. The reality is the Mcap is exceptionally low for a reason. I am sceptical to the comments that they will be cash even in the not to distant future. Heard it all before. Please do the maths on the excavated coal and what figure needs to be achieved to mine the relevant output.
Anyone is still in. What are you hoping for?
The penny has seemed to drop. I feel sorry for the guys that actually believed the dangling carrots. Time to move on and get your money back!!
45k Dollars granted. Potatoes or is it potato’s. Do the maths as I am not doing it for you. I don’t want to be the grim reaper but the funds just are not there. Somebody is sprouting about selling the fines now. That IS NOT going to produce the income required. When I bought in (and sold at a loss) Figures were mentioned of what was being achieved. I saw the numbers and knew they weren’t correct. I sold out. Don’t become attached to a share. It will make you poor!!
Still in, think of getting out. A consolidation and placing is on the horizon. Do the maths on what they have sold Q1. I believe they are not able to pay Lind £45k a month as promised. After all the false hope I see only one way this company is going.
Maybe 36 percent more than Kibo. But if you can’t pay your bills then the company is worthless. I only hope for you guys that they are able to pay £45k a month and your not being strung along. As I found out with the mining figures months back.
Be delivering the breakfast. Or something a wee big larger.
Sovereign literally on top of the AM.
There not going to have anything to sell if they can’t pay Lind. No update on figures so I’m guessing they can’t be making profit!!