Member Info for GreenWolf

Whatever happened to LondonTom - he used to talk lots of sense.....
Agree Solley - how one (or is it more than one?!) poster can ruin a whole board.
GLA genuine share holders

Bullish - it's showing on London Stock Exchange's website

Any holders tracking Clean Invest Africa?
https://www.cleaninvestafrica.com/
They're doing some interesting stuff, notably the recycling of coal fines into coal pellets (CoalTech Group - http://www.coaltechenergy.com/)- Noel Lyons and Paul Ryan link our two companies

Sausage - closed period?

Director buys in any volume and by more than one of them are always green flags. A token purchase by a new CEO isn't something I would get terribly excited about, especially £2k from someone who lives in probably the most expensive place in the world!

But my biggest concern is our money

In 2021 we made a loss of £1.45m, or £120k per month.
We had cash of £1.2m left at the end of 2021.
We're approaching eight months into 2022.
We'll run out...in 2 months perhaps, worst case? Depends what our interims confirm as to the burn rate when they are released in September.
And even if we start to make a gross profit at Rukwa, how do we cover the £70k a month of administrative expenses in the P&L?

Unless we have one mighty turn around in our fortunes, the capital raise question is a matter of when, not if.

Another week in the life of an Edenville share holder....

Good weekend all.

Bullish - s52 and s53 of the CJA are reasonably clear to me - insider dealing can only be proved to be an offence where an individual gains from that knowledge. Anyway, we're getting onto points of law.

Fundamentally Noel's purchase bears no indication on whether we do or don't need a placing. Our cash burn and cash reserves are far more of a pointer. I haven't checked our Articles but most new CEOs tend to have an agreement in place as part of their appointment to buy stock. That may simply be included in Noel's employment contract, but we'll never know.

The minor saving grace is the BoD has said we will be cashflow positive in two months, but we have had that said numerous times before too.

The BoD just needs to deliver - not sure how many times we have all said that over the last five years.....

c2k of investment from someone who is a CEO and lives in Monaco...? There's commitment for you. Let's hope there is more buying on the horizon. And I can't remember how many shares Nick has bought - he's been here well over two years now.

Bullish - it would only be insider trading if he knew there was a placing coming at a higher price and therefore he was materially benefitting from his purchase. But if there was definitely no placing coming and he felt we were at the bottom, surely he would pile in?

And where's our "strategic investment" cash gone, because there ain't much left of that £2.5m we raised? As you said back in January and I agree with, I'm more interested in our diversification, but I fear we have blown most of that cash on keeping our loss making mine running.

Lots to do here BoD - lots

Stampee - take some time to read through the RNSs and perhaps the Rule 26 bit of Edenville's website for some quick info.
We consolidated 1000:1 in Jan 21. There have been at few other consolidations in the past too.
As a coal miner, since October 2017, we have never turned a profit and have spent over £5m in the process of getting pretty much nowhere.
My comment earlier about the announcement this morning feeling like the RNS of 8 June 2020 wasn't tongue in cheek by the way.
There has been potential here for many, many years. Its just never come to fruition. GLA

"so many aim companies promise but never achieve" - yep and we've been trying since October 2017....

The only reason we have no debt is we have continually raised money via placings to plug annual losses of well over a million pounds (£1.4m average over the last two years). That has done nothing but decimate PI shareholder value. Most LTHs who haven't traded this over the years are probably 95% plus down.

The economics really don't sound great from this morning's RNS.

We may become operationally cashflow positive (that's losing the £685k of costs of sales in 2021), but we still need to cover the company admin costs which were £875k last year before we make a net profit as a company. That comes straight out of any gross profit from our mining sales.

We also know we cannot get full output during the long rainy season, so if we want an average of say 6,000t over the year we need to be doing far more than that in the dry season.

There's still a lot to do here and the market agrees - and the more I read the RNS the more I feel we have just gone full circle back to the announcement of 8th June 2020.....so we've lost another 26months.....

Martek and their sister company ILTL were meant to be proper outfits, if we believed the hype......

The seed is sown though - the BoD have said we will be cashflow positive in two months.

Interestingly that will be after our interim results are published so we won't actually get an official update until the next annuals, in June 2023, unless the BoD choose to share any success with us as shareholders. That, of course, relies upon the new BoD's communication via RNS being well above the levels of what we are used to.

It still comes across a bit of the jam tomorrow, but with a revised BoD in place it is really just a waiting game....again.

Let's see if you're right Bullish and one or two Directors stick their hands in their pockets. That is always a very strong sign to the market.

I've been here far too many times before to get excited, and the market seems to be of a similar sentiment at the moment.
GLA

Well, not that we've tried this twice before....perhaps third time lucky?
It's been a reasonably interesting last two weeks whilst I've been off grid.
The market is clearly disappointed.
The new BoD set up needs time, but exploring old routes that haven't worked previously is never going to impress the market.
Time to wait? Again?

Anyone going? I'm away the first week and a half of August. I doubt they'll do a live feed (they haven't previously)
I think you could vote via Signal Shares last year?

Alastair certainly spent plenty of time over there - not sure if you were here when he did that excellent marketing video on his phone.....November last year - it's on our Twitter feed

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?