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Well, look at the positives. We, finally, have a change in the BoD which at least gives us some chance of making our operations work.
Simple task ahead for them - they just need to deliver those sales numbers. GLA
esquimo - CFPP - if you're talking about the bit in Section 14 (Investment in Subsidiaries) It's a throwaway comment simply bolted in to support the financial forecasts for the commercial viability of the group(s). It was in last year's annual report too in exactly the same format.
Nothing will come from any tacit discussions with Tanesco. We know that.
Pawn - we have c£500k, we burn well over £100k per month and we are meant to have put aside some of that £2.5m placing for a strategic investment (Tony's £1m for a start). That doesn't add up to me in terms of how long we can go without a raise. It's not about what the Directors "say" it's about the reality.
We also have the small issue of having wasted, yet again, two months of our long dry season. It is critical that during the dry season we are at full production - for all six months - so that we have a chance of plugging any issues during the wet weather and ensuring we can average over twelve months, not six.
It's the usual stuff from our BoD.
All I want is for a RNS to come out to say we are selling upwards of 3,000t per month - not mining it, talking about it, telling us why coal prices are high - just selling it.
The market has clearly told us what it thinks about us as a company at the moment - one year ago we we were at 33p.
Only the BoD's actions, not talk, can get us out of this. We've sadly been waiting for those actions for a long time.
Well, no raise, yet, but c£500k in our world isn't going to last us long unless we truly turn the corner over the next few months. I still have my thoughts on whether a placing has started to be sounded out by Strand.
There are a few key issues though - burn rate is up, still "planning" for future revenue and break even and Q3 is absolutely critical to us ahead of the long wetter season.
Nothing unexpected in the 2021 figures but concerned that we've burnt through c£700k in the first six months of this year - between start of Feb and end of May we technically had zero operational costs for the mine as they sat with Nextgen.
I'd like to know why we have spent so much in six months.
And there's now next to no money left for a strategic investment.
It's not pretty to be fair and I sort of get why our share price has been mullered over the last month.
Bullish - you're saying MMs with portfolios worth tens or hundreds of millions take that level of interest in a tin pot AIM company with a MCap of £2m? No, sorry. I don't buy that.
I know what you have said before about MMs having gophers on these boards. You can see that level of orchestration when certain names appear on shares that get very quickly linked to ramping / deramping crews on Twitter and the like.
It's even seen here occasionally when we get incentivised, sorry incessant, ramping crews.
But the views on this board for Edenville have no bearing on our share price - there simply isn't the interest or the volume for MMs to make a crust.
From that 1 trade, looks like my 7am RNS prediction was a day out of kilter.....!
Bullish - "If you really dont think negativity and constant bashing has no bearing on a share price then you are mistaken".
No, the MMs have taken the price of our shares down and over the next two days we're going to learn why.
The miserable level of comms from our BoD, something well known to many of us on here, will have done nothing but allowed rumours in the market to take hold and drive the price down. PIs are always last to know, always.
The annual results will be what they will be and have already been priced in before now - there's been little to cheer about in 2021 so we can expect the usual figures.
I still think there's a discount placing in the offing.
Browns - didn't FCA and LSE withdraw that on 23 March for any reporting deadlines after 28 June?
I'm expecting a 7am RNS tomorrow.
Teaye - it's not very little volume for us though. We've had days and days where there have been no or a handful of tiny trades.
I said recently you could see a small but noticeable tick up in volume, on no news, with numerous trades of round figures. Much like today.
The way the share price has gone it looks like a placing at 10p.
I don't see us going bust. We have some money.
But I do see a discount placing on the horizon sold on the back of more investment, sorry, throwing money at trying to expand our output of coal....
It's got annual results, post close update and discount placing rolled into one RNS written all over it.
Bullish - I like your positivity.
Had RCPP come off, I'd be sunning myself somewhere on the back of early retirement.
We can but live in hope. GLA
Teaye - you've been in the sun too long....
Personally with two failed attempts at subbing out our operations and five years trying to chase break even ourselves, I would suggest it is very close to s**t or bust for us as a company.
It's really not looking good at all.
Share price was 21p just over a month ago (17 May).
Either something has gone catastrophically wrong or we're heading for a big discount placing.
Pi - beat me to it.
We've also lost almost 25% of our value this week.
The annual results (I suspect they are already pretty much signed off ready for release to the market) cannot be THAT bad and in theory they should already be priced in.
There has been a subtle increase in volume this week on no news, not huge amounts, but a few round numbers in there too. I think my nose is in the same sensory place as yours.
Teaye- we need a warren of rabbits in that hat.
Yes, the market is down as a whole but I suspect the annual results are going to look very average indeed.....
Yes, otherwise we are suspended.
But a good two weeks plus to get them out yet.
Hindsight is the most wonderful thing. There's also that other saying...there are none so blind as those who will not see.
Nice of you to turn up on this board Pawn and call so many people "foolish". Let's hope your crystal ball is more effective.
Why don't you speak to / email Alistair and ask him the reasons behind why we have a long litany of failure since October 2017 and then come back to us with an answer?
I'm keen to see our annual results this month as I want to understand if we have any stockpiles as part of our P&L inventory - if we have, I want to know why they haven't been sold in lieu of us actually producing washed coal.
Wolfie Smith - I know ITV's. It's an important metric. If I recall correctly (you'll need to look at the annual reports for BBC and Channel 4 - they're available online) C4 has minimal net debt but BBC is c£1.5bn. Because of the way Government organisations factor in pensions, I suspect BBC's in significantly higher if you include pension deficit.
For ITVs, go to https://www.itvplc.com/~/media/Files/I/ITV-PLC/documents/reports-and-results/annual-report-2021.pdf
Do a search on net debt - it reduced from c£545m in 2020 to £414m at end of 2021 (and down from £893m in 2019...)
Sausage - but how much of that May 2021 placing do we actually have left?
We had £1.87m cash at the end of June 2021. We generally lose c£100k a month, although in theory between Feb and May this year, we passed over our costs of sales to NextGen. We still carried our overhead / admin costs.
By my very rough calculation at 1 June 2022 we have just under £1m left and the last RNS talks about additional investment in the Rukwa mining plant.
We're burning through the placing, that was meant to be for a new strategic investment, at the usual alarming rate. I suspect there will be little left to reinvest elsewhere soon unless we get a real step change in operational performance. GLA