Member Info for GreenWolf

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.

I agree we're still a target. All a matter of how much someone is prepared to pay. I'd settle for £3.20.

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

Bullish - it's not negativity. It's realism based upon a long history of false starts and empty promises.

The sentiments on here have absolutely no bearing on the share price. None.

The lack of volume in our shares tells us everything we need to know. There's little or no interest in us as a company as our BoD have promised that magic day and failed to deliver it far too often.

Pawn - "You don't seem to have any understanding of this co. at all jezzac, neither does sausage." - how to singlehandedly discredit yourself on an open public forum by bashing two longer term holders who clearly know plenty about our company.

You were bullish about the 4 May RNS regarding the contracting out of the mining ops yet you're now saying that was "stupid"?

The farming out of the coal mining wasn't stupid and was, potentially, the correct move after our continued abject failure since October 2017 to get economies of scale. However, it needed the right contract in place so that we maximised our returns, notably in a rising coal price market, and minimised our risks.

The fact this has now failed twice speaks volumes about the commercial naivety of our BoD. That's the most worrying bit.

Pawn - the way we extract our coal we could be getting $1000 a tonne and still not make money.

We cannot get economies of scale, proven by almost 5years of abject failure. You also have to factor in the endless disruption we seem to get during the rainy season.

Yes, the price of coal has rocketed recently, but your links are to the Newcastle price. I think that is based upon a calorific value of c6000kcal/kg. We certainly don't get $400 per tonne from fines and nowhere have I seen how much we're getting (average) per tonne for our washed coal. There is, in the depths of our historic RNSs, some calorific values - probably worth us finding that for comparison. There have also been lots of "trial" orders over the years. The fact those have materialised to nothing also tells its own story.

The issue is pretty simple. We can't get it out of the ground in sufficient quantities. Until our BoD can prove they can both do that and then sell it, I don't really see what has changed, except of course all the production costs now reside with us again....

Left hand, right hand - I suspect London, sorry Bournemouth, Tom is ambidextrous...
"Never been married"....except to himself. I've read some carp on this board over the years from our resident Dame Carolyn hater, but this week has simply topped the lot.
Good weekend all and best of luck to all genuine holders - some roller-coaster ride the last few years. Keep the faith. GLA

Bullish - sometimes there are indeed sensible and informed comments on these BBs, but investment cases are based on fundamentals, not opinions. MMs are way nearer to the knowledge than any PIs, so why would they need public forums when they have mates in companies?

I'm genuinely interested in what was your investment case when you bought in - was it summer 2019?

You did say in February that if nothing had happened in the next few months then the negativity could carry on!! It is simply a reflection of frustrated investors - nothing more. For instance I remember the days when Sausage was very bullish about Edenville - that's been driven out of him by continued failure buy our BoD. I understand that completely.

Good weekend all.

Bullish - nothing posted on here whether positive or negative will have any effect on the share price. You know that.

People are hacked off with the constant circle of mis-trust that has been created by our BoD, whose competence must seriously be in question. Even Wednesday's RNS suggested a re-shuffle.

MiningInvestor- I think the person you are referring to is known as one man and his dog....

Agree with the sentiments Pawn.

Not sure how long you have followed or been invested in Edenville but we have moved from one disaster to another. I see there's now no mention of any discussions about RCPP in our RNSs.....

The price of coal could certainly have an impact on the underlying business model, but it is also worth considering that we do have stockpiles (they are mentioned in the annual accounts, as they are a tangible asset). If demand is so high, we should have pretty much exhausted those stockpiles and then be fully reliant upon our processing of new coal. That is one reason I'm keen to see our annual accounts in June.

The quality of coal is very important as this will reflect in the price - it's mentioned somewhere in the depths of the RNSs - what worries me is this continued inability to actually sell it or customers taking it on trial and then seemingly not coming back.

Don't get me wrong this could turn around, but we have had years of failing and Alistair also seems to have simply fallen into the weeds of trying to get the business model working. The proposed strategic alliance with MarTek came and went without ever getting off the ground (and continued excuses......) and we now have a seemingly already strained 12month agreement with NextGen where, in my view, we have two key problems - they don't seem to be able to make the mining model work and we've sold our resources on to them too cheaply.

You really couldn't make it up.