Member Info for esquimo

I'm going for a production update which should take it up from these levels, to that end I have taken my holding back up to where it was at half the price that I sold at.

I think you will find the 47k trade is a buy.
The RNS states that all equipment has been brought back into service, the addition of the excavator plus the need for more haulage would suggest that coal production is going ahead. As always the update is needed to verify that.
Any production now will have an impact on this SP.
We will know by the end of next week.

T72, you are correct, I am assuming that trucks would not present a major problem unless they argue over the cost.
The big question for me is the targets for production are not great and why were two contractors unable to produce any coal , after all ILTL did carry out due diligence I'm not so sure about Nextgen. Whatever the reasons EDL now seem to think that they can do better at production after failing for 4/5yrs.

The results will be what people expect.
EDL haven't bought three trucks plus an excavator to have them sat in the parking lot, results next week with (hopefully) an update on production, assuming that is the reason for the expenditure on machinery.
Not long before the month end, we shall see what the outcome is.

welloil, I agree and that is the reason after 10 years following FDBK I have added it to my portfolio, traders/shorters whatever they are, are interested on what is current or what they can create hence the current run of trades.

Not the reaction I expected on that RNS but income still has some way to go.

Unable to attend, but having worked for the NHS I still have an interest in their progress.
Thanks for the photo connection.
As an investor I'm quite happy to let the traders have their day, my intention is to keep adding.
Regards E.

for ten years plus, the SP at the time was 1/1.5p, it is now under 1p.
T.O. is to give a presentation today I believe, I am assuming that the results will be released any day as we are now into the middle of the month. I have only recently added this to my portfolio expecting the update to have quite an impact on the SP.
The prospects for this company over the coming years seem to be huge, after waiting ten years any entry now will be well rewarded, just my view.

Pawn,I think with EDL's change of focus it is a buy for me depending on the next update. I did sell some EDL to start a stake build in FDBK after following it for 10yrs plus. They are releasing a update in the next two weeks which will have an impact on the SP, If you are looking for a more focussed Co, worth a look!

As a long term holder I can understand the frustration of SOAS.
EDL have failed to produce coal and any viable income, their recent predictions (Oct,Nov,Dec, 21) have failed.
The two contract miners ILTL and Nextgen have been unable to produce coal, for whatever reasons, both ventures have been a failure.
Now it would seem that cash in the bank can be released to expand production, I can't imagine that happening without the ok from the investors. It would seem that the recent rise in the price of coal has persuaded them that currently coal has a lucrative future.
The results are due this month, the question is will we get an update before they are released, my wild guess is yes.
.

They still have a long way to go to convince the market that they can produce 50% of the target they predicted 4yrs ago, their history of failed production and sales means they have a uphill task in front of them. If they succeed it will make the current SP very cheap.

SoS, I'm sure that EDL will be more than delighted to join you in mutual back slapping if they ever hit production targets!
Re UPENDO, they partnered with EDL to mine Namwele in 2018, March of that year was the expected date for production, that was followed by silence until UPENDO decided to sue EDL for non payment of fees, I don't recall any further information on that.
The talk now regarding UPENDO is of a 10% holding in EDL, we shall have to see how that works out.
June could see another update before the results are published, if they haven't managed to produce coal by then they will be running out of the extended dry season.

The quality of the coal is known hence the interest from POTENTIAL customers, the problem is the inability to gaurantee supply due to ???????,
If they can dig it up in sufficient reliable quantity then they will be able to sign contracts.
5yrs, with so little production and enduring problems is no way able to build confidence in their ability to fulfill contracts.

Since the predicted monthly production in 2017, without totting up the total sale of coal out of the gate, have they managed a full month's predicted target in total over 5 years?
Now they are talking of expanding organically, it does take some imagination???

Although EDL have had zero income from Nextgen any coal sales from the stock pile will be at the rising coal price hence the claim that there's little effect on the bank balance. The rising price of coal makes a substantial difference at the gate.

Not an inspiring RNS, more questions than answers.
Zero production since handover with delays,
production problems yet to be solved in the near term,
whatever that means?
Production targets, what are they?
What difference will the more favourable coal prices make to EDL as they have accepted $10 per tonne, unless of course they have altered the agreement with the increase in the price of coal.
Nextgen are obviously having problems if they are getting round a table to verify if they are capable of producing coal to the required targets, again no mention of what they are.
Discussions re power plant appear to have vapourised.
End of year results in June will obviously be dire,.so let's hope the production problems are sorted before then.

6.8% drop , I think some were expecting a better start to the week.

Bunsen, Zak predicted a much higher SP than that about a year ago, charts don't always work.

Hi Merlin, I thought that you were in contact with Aerial, sadly Aerial has passed away, a great loss to his family and all who new him. E.

No concerns at all! The placing and open offer were for the be right reasons and not just to pay the directors salaries.
Both well oversubscribed.