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One or two not waiting for the results but as yet no hint of any leaks to the market which I find hard to believe.
We shall see what happens as the day progresses.
Re fingers DITTO.LOL.
Friday is possible but I have hopes for tomorrow that is what I have pencilled in.
We shall see how the trades, if any, progress today.
BB, after 10 yrs plus I am well practiced at the wait and see exercise, as are few more, another couple of days is neither here or there LOL
GW, to leave any notice untill Friday would not be very good but would be in keeping with EDL's mode of practice.
As I have recently said the longer the delay the more disappointing the news tends to be, my hope is that the new management does have a more honest and positive approach.
Re the market traders will know long before we do whether the news is positive or not so I expect an increase in trades before any RNS.
We shall see what happens, only 3 days left assuming that Friday is not included.
No doubt the traders will be in action.
The longer we wait the more disappointing the news tends to be interims next week plus update is what I expect ,after all they did expect a minimum of 6k tonnes by the middle of October dependant on ongoing repairs.
They also said that they would update the market as the upgrades/repairs were completed, as yet no RNS to confirm the completion of those tasks.
Arcontec consolidated 125_1, quite successfully and followed with a maiden dividend which has continued, the pandemic has caused them a few problems resulting in a drop in their SP. Overall the consolidation has been a success, mind it doesn't always work out like that.
Having listened to the recent podcast I see no reason why this should fail for FDBK in fact just the opposite, it would seem that the current low income is due to change and the current SP is a good entry point/stake build price.
It's been a long haul but they are on the cusp of reaping their well deserved rewards .
In the next 7 trading days the interims will be posted, for me that Will be coupled with any update. EDL have a habit of posting results as late as possible, so, anytime between now and a week on Friday.
Hopefully we have coal going out of the gate in the predicted quantities.
If they fail to meet their targets this and next month it will just be a continuation of their 100% of failures.
Having topped up I believe that even the poorest / wildest shooter will in time hit the target.
In another month + a few days we should be producing a minimum 6k tonnes.
They had orders for 5k tonnes for August, now the target they have given is 4k tonnes by the middle of this month increasing to 6k tonnes by the middle of October, these are minimum targets reliant on repairs etc. to plant and machinery.
Interims due, which could be the intended date to release any update. The problem for the market and SP is EDL have yet to hit or get near any target, I think we all have our fingers crossed hoping that at last we have a management team that can actually achieve something.
The improvements will need to be considerable if the are going to have a reliable 6k tonnes pm through to the next long dry season.
Not 4k tonnes.
I've followed this company for over 10yrs but only a fairly recent holder, what an entry point this current SP is.
Once the efficiency, time saving cost effective ability of BLEEPA is realised the penny will certainly drop and to be fair FDBK deserve recognition for their product.
A short story.
A schoolboy comes home with his homework, he goes to his father who is working in the garden, he asks his father what is the difference between potentially and realistically.
His father says go into the house and ask your mother then your older sister if they would sleep with famous film star for a £1m, then come back with their answers.
Completing that task the boy returned to his father who asked what their reply was. The boy said that they both were excited and would jump at the chance.
The father said there you have your answer to your question, potentially we are sitting on 2 million quid, realistically, we are living with two slappers!
That story could explain EDL's performance over the years. LOL
11.2 to buy, I can't see that continuing once we have confirmation that coal is going out of the gate.
Brahma will be expecting to increase production way past 6k tonnes per month if the modifications are a success.
The current washer does have that capacity with an increase in working hours.
By the time the interims are released we should know.
if the new excavator and additional trucks are operational then 4k is not a big target, what we need to know is have they been mobilised and are the modifications/repairs to the washer (ongoing) stopping the washer or are they carried out during stationary periods, all unknowns at the mo.
We should now be producing a minimum of 4k tonnes of washed coal this month rising to 6k tonnes in October.
Those figures are reliant on EDL's ability to fund operational costs and repairs/maintenance costs.
We should know this month how that's working out?
If all is well we should be cash flow positive by the end of October.
Let's hope this is the start of EDL becoming a reliable coal producer and we are clear of the historical failures!