Member Info for GreenWolf

Well, Tim's response is interesting.

If we are not agreeing sales and therefore our payment from Nextgen on at least a monthly basis, when do we actually invoice and get paid our royalties? His email is bonkers - you don't run any company like that, even in Africa.

"The Contractor will be responsible for taking over operations with immediate effect to improve efficiency, however Project ownership will remain with EITL" - we retain accountability, so therefore the BoD should be updating us regularly with our revenue stream from Nextgen. End of.

Another excuse in the making, no doubt.

You know as well as I do - nothing said on this board will have any direct influence on the share price. None.

We, thankfully, live in a democracy which also comes with freedom of speech. You just have to accept that and not get too hung up on others' views. There is a reason I have no interest in the predominance of junk posted on things like Twitter, Instagram etc.

Fundamentally there's no volume in Edenville. That talks far more than anyone posting their personal views.

Bullish - don't wholly disagree with your sentiment, but everyone deals with such things in different ways and it's an open public forum. Everyone is entitled to their own opinion.

Bullish - Sausage is not a shorter and no-one in their right mind would be shorting this stock.
I suspect he is fed up, like the rest of us, with where the price is and the lack of news.

Yes, dropping below 19p support is not at all good. There's been a small but noticeable drip through of sells over the last few days. Not huge amounts but they seem to be battering the bid down.

News is definitely needed - we've actually only had one RNS with any operational specific news in it since 1st Dec. That's just not good enough and the market is reacting to it. Our share price is down pretty much 25% since then.

Sausage - the old 1 trade.......!
Still not sure a placing is immediately on the cards but for all our sakes I'm hoping this is the start of a good news run. That would be a change. GLA

26p on the Ask......

Now then....that is good news and potentially transformational. Might be an interesting afternoon.....GLA

Sausage - interestingly I think we are starting to look oversold, which means there might be a nice trading opportunity coming, particularly if there is a positive RNS in the pipeline. GLA

The old '1' trade - RNS tomorrow then for those that believe in codes!

No change in the bid though - that's the important figure.

"December is a funny month" - I agree Teaye, but the biggest problem we have is that any of November to April can be funny months.

Diggerman makes a good point in his post around our operation being too small to cover our corporate costs. I can't remember how many times I've talked about economies of scale on here, profit, etc etc. They are fundamentals to our business and they don't stack up.

Coal clearly isn't our future - we've spent well over 4 years (and how many millions?) trying to make it work.

Let's get this new strategy sorted and the more news the BoD can give us around discussions and progress on that the more likely our share price is to move in the right direction. GLA

Esquimo - the CPP was a dream but I pretty much agree with Diggerman that it's a non starter. The lack of a business case, funding, our lack of coal output....there is simply too much working against us, even if TZ got agree it's a good idea.
RCPP was (not is) the cornerstone of our future. Its gone and we should all move on. The continued mention of "talks" is all noise, nothing more.

Our future clearly lies somewhere else - the strategic investments our BiD have talked about. We need updates on lots of things now. We're getting nothing. GLA

Esquimo - I like your logic around the impact of the next RNS..
Seriously though, why would we need a fundraise? Have you heard rumours?

Esquimo - as Diggerman mentioned on Saturday morning - the power plant is a non-starter. We can chat about it with TZ gov as much as we like. There's no business case and there's no money for it. Our hope was the Chinese bank rolling it but that avenue is now closed. RCPP has gone I'm afraid.

Most AIM companies feed on the more to come sentiment. We've managed it here for approaching 12years now.

Coal is our only source of income, but given we lose c£100k a month on it we may as well not be doing it. That is why the ILTL deal was so significant for us. Why it hasn't happened is really anyone's guess.

Our best chance of success is we get the coal mining to break even and perhaps a small operating profit and then have a significant other revenue stream from something else. That strategic investment money that we are slowly but surely eating into is the key to our future.

Bullish - I hope you're right. We need some visibility on the strategy.

Not sure I would agree the majority of stock is in safe hands. We have Spreadex, Monecor and Intertrader all having significant positions here. Nowhere, still, have I seen TR1s for our major investors.

Alastair needs to stop both us IIs and the market hypothesising and guessing what's going on, because unfortunately no news in the past has usually not been good news. GLA

The market is clearly leaning to the bearish sentiment unfortunately.

Not that many of us say this phrase often on here...we need news!

The Interims Results are quite telling - the last section in the main bit (before notes) is the Consolidated Cash Flow Statement. It includes the c£3.4m we raised last year (Jan and May), c£430k payment to Lind etc.

At the end of June 2021, we had c£1.87m left. We have been losing £100k a month.

So by my very rough calculation we have c£1.3m left. That will keep the lights on this year unless we can start making significant inroads into our mining, which we can't really be doing at the moment because it's the rainy season. So where is the actual money for any tangible investments?

And do any of us think smart guys like Tony and RAB don't understand those financial figures?

The interesting point to note about our strategic investors is nowhere have I seen a TR1, so their shares are held in nominee accounts. The share price here was 35p or above for most of May. That's a quick 40% return if you wanted to trade in the background.....

As a going concern we simply don't have the time to be patient.

Sausage
We have systematically failed as a business since October 2017 with an operational plan that simply doesn't work. The climate in this area has a significant bearing on our mining which means between April and November we need to be selling way above our break even target to mitigate the potential risks of the rainy season. We simply don't seem to be able to get there, we've spent well over four years trying and probably lost c£5million in the process.

There is no CPP plan - none, as it's all talk - and to get to a point where a RNS was released saying "start of power production" could be 5years plus away. Given COP26 and the fact we would need a consistent supply of coal of probably tens of thousands of tonnes every month, do we really think that will ever happen? I just can't see it.

The biggest frustration for me over the last year has been the consolidation, because it generally flattens the price volatility and makes trading down your average more difficult.

Esquimo's post earlier sort of sums up where I am - perhaps one positive is IIs still feel there is an investment case, but as I've posted before, I tend to take that with a pinch of salt given we've seen no TR1s. That says a lot about whether it's actually long term investment or a quick buck.

So, that leaves me with no current investment case for PIs if I'm honest, but then I only have myself to blame for still being here. This was one of my earliest forays into shares and I have, to my own cost, become emotionally attached to Edenville hence why even when I have sold up several times in the past I've somehow found a reason to convince myself to buy back. Therein lies a lesson.

Genuinely GLA, but unless Alastair has a warren of rabbits in his hat, I'm just not convinced.

As much as one or two on here still disagree with me about when the rainy season is, it is here.

I don't have the time to follow the weather that closely in the region to know exactly how bad or otherwise the weather has been. But we had substantial floods in December 2020 / January 2021 and it is something that has occurred several times before in the region so we know heavy rainfall is a real risk. The key is always how bad it is and to what extent it limits our extraction and processing of the coal.

It's been mentioned in previous RNSs - eg "Rukwa and the complete Western Highlands region experienced an extended weather event during the 2019-20 wet season with extensive rains from December 2019 to April 2020".

Whether our operations were impacted in December is anyone's guess, until AM tells us.