whether or not the Lindt loan had been paid, no RNS re share issue so I'm assuming cash has been used from either income or funds? The training of the labour should be complete, the washer should be testing it's ability to cope with double shifts and the tonka trucks should be testing their durability, all we need now is customers? Surely their will be some news released this month, having said that old habits die hard. Ah well tea break over.
Having continued to top up with the drops in the SP I'm kind of hoping that we don't have a repeat of the previous predictions, I don't really suit egg on my face. As always we rely on their news releases, if there's a delay in reporting production (I will say performance) then I will start doubting the ability of EDL to succeed. At the moment I am trusting that they have learnt from past mistakes
I wonder if this is the start of recovery. Training of the workforce about complete and double shifts to begin on the washer, with the obvious increase in production, what that is we shall have to wait and see? You never know we might even get norab joining the happy clappers club, LOL
As I have already said the banter can be quite amusing! Where is LG, I'm surprised that he hasn't mentioned the Lindt repayment, re shares or cash? Norab1 does like to gloat
As I have said before the banter can be quite amusing! Where is LG? I would have expected him to start querying the Lindt repayment, cash or shares. Norab1 you do enjoy gloating. I think yourself and BE would be slapping each other on the back after a few whiskies and singing Auld Lang Syne. LOL
It has already been stated that production is increasing without the double shifts on the wash plant (of course no figures) this will increase with the training of the labour force, which should be near completion. They are negotiating 5k to 10k tons per month contract for the fine coal as an extra to any washed coal contracts, this is still a buy for me. Having said that the 10k dump this am isn't a display of confidence?
The problem with EDL is ongoing i.e. production, they fore cast 10k tons 18 months ago, plus unwashed sales from Namwele, and only selling coal to those that could pay, rejecting those that were not reliable. how things change they can't get contracts until production is reliable (which hopefully) will start this month. this could turn faster than a quarter horse with the right news, unfortunately the lack of coms. from RS does'nt help and delays in news release generally means it's not good, having said that it is still a buy for me because they seem to be clambering over the hurdles put in their way. CPP not finished yet and a huge amount of coal that they are slowly starting to extract.
RE: So interims out the way......30 Sep 2019 10:49
Well Diggerman, you have posted a comprehensive set of figures to prove your case. I am not in a position to dispute your figures or EDL's future production estimates, so, if I am reading your post correctly, you are saying that EDL are misleading the markets, you are therefore obliged to report them to the correct authorities, which, if you are confident in your stated facts, you will do.
Production & sales, still a major problem! The reference to the power project is encouraging, with credit agreement on place. So the BFS due in December, with the indication that the power project is still.ongoing must surely be a positive. There will need to be a big increase in coal production before any re-rate.
The two mentioned have rhino hides so E mails will have little effect. I did have this week pencilled in for a likely update, the interims being due next week, I suppose the next couple of days may see some news released, otherwise it will be the interims. 2 little sells todays points to somebody needing a box of tissues to wipe their eyes, after brokers fees that's all they could afford. I hope that the silence is not a harbinger of doom, LOL
LG, I have noted your post and you are entitled to y our own opinion/attitude towards edl as a company, what I don't understand is y our continued posting on this board. Having been in many shares some a complete disaster eg. DES, although I did get some compensation when RKH was hammerred down to pennies and then shot up to £5. Any share that caused me to have your sentiments towards it I binned and definitely did not continue posting to annoy others. KTS now ARC struggled with a good product and my original investment in that would be just breaking even without averaging down, it now pays an annual dividend and has multi bagged. SEE and FDBK are two more that have struggled at times but I do not complain, so edl a different kettle of fish I know with poor coms. but will I am sure pay back what I've invested, no need to **** people off
GW agree with your comments, I have said that the interims could be key to a change in the SP, IF, what we are being told is true (with the caveat of past history) we have good quality, coal increased production with double shifts which should mean contracts will be secured, hopefully the interims will answer any questions re production. I'm waiting to see the accompanying (if there is one) forward looking statement, another couple of weeks should provide those answers.
I would be more impressed with a video of customers trucks going through the gate. KIBO appears to be getting a bit if a nod and wink? Our own BFS is due in December (if it is still relevant) are we going to get the same reaction from the TZ gov? A game changer if we do!
L.G. re your post, I remember a regular poster on this board, Merlin, whom I believe invested a substantial sum into EDl, was one of two attendees of EDL's agm some years ago, he posted on this board that Aerial had grilled the then board with questions that made it obvious Aerial knew what he was talking about which is a contradiction to your post, make of that what you will.
At least it explain (once again) the lack of production and the cash raised is to correct that. Contracts should now follow. Looking forward to the interims and hopefully more clarification. Waiting now for Diggies comments and those of one or two others.