Member Info for GreenWolf

Where is the clear financial commitment to the RCPP?

There is none.

"Edenville plans to....." and how many years have we been reading phrases like that in our RNSs. It's pie in the sky as things currently stand.

Aerial - the Edenville website also says "MOU signed with Sinohydro of China who will complete the Bankable Feasibility Study." - where's that then?

I'd like you to point me to a document from Tanesco or the World Bank that shows that there is a definite financial commitment to build a coal to power plant at Rukwa?

You can't and neither can our BoD.

It's all hope and an aspiration, as it's been for many, many years.

aerial - I didn't say Edenville had said it had been shelved.

But, nowhere is there a current plan to build a coal to power plant at Rukwa - correct?

https://www.energyforgrowth.org/memo/coals-future-in-africa-is-dim/

I wasn't aware there was a current plan to actually build a power station as part of that project?

The reality is quite simple - there are no plans to build a power plant at Rukwa / Sumbawanga as things stand. It was shelved and hasn't, as yet, been ressurected to my knowledge.

I don't disagree that the interconnector might bring an opportunity, but the only thing planned in Sumbawanga at the moment is a sub-station, which really does nothing more than act as a transformer to lower overhead (higher) voltage to mains voltage.

Aerial the interconnector simply connects the Southern power pool to the Eastern power pool, so it's just carrying electricity that's already being generated, isn't it?

Can't help yourself lower the tone again, can you?
OX17 3PX
On one hand you're moaning about "you miserly lot" and then you're having a pop at me for offering more money to charity.
Always after the cheap shot bigeye

Tuesday 4th May and I'll hapily give £50 extra to Macmillan Cancer Support who I donate to anyway.

Sorry, but I 100% disagree - there is no chance at all we will get a RNS on 3rd May.......

In all seriousness, I don't see in the short term there is any news we're waiting for - the handover is clearly stuffed due to Covid and until Tanzania gets their own pandemic issues under control, we're just going to be sitting here burning cash.

Just for you aerial, again, to dispel any of your undermining words on my "research"

https://www.tanzaniatourism.go.tz/en/tanzania/facts/climate

You might notice that the tab near the top middle of the page is highlighted "Facts" - convenient that

What was it you once posted aerial - "Facts are facts"
Indeed they are.

I was just reflecting on how nice this board is these days.
Goldman's are starting to free the chains they have had over our company for so many years.
That's always going to be a good sign.
I still think we'll get taken out at some point. I know that talk has been around for years, but there will come a point when GS have played with us enough (I believe that day is coming) and then the proper market forces come back into play.
GLA

Sausage - we all know it's unacceptable but we have had years of conistently poor news flow. It's never changed.

The really key thing for me now given the delays is we have handover done and dusted and a shorter mobilisation period for ILTL and we are up and running at full capacity by the end of the rainy season, which is fast approaching.

We get roughly six months of the year of the driest weather with little chance of disruption to our operations - that's when we need to be full steam ahead on mining.

I see you haven't changed.

Aerial - and we were at the equivalent of c55p in early September 2020 on anticipation of handover, which hasn't happened.
That is more telling for those who aren't trading, averaging down etc and potentially bought in on the transformation promised by the CMA.

In all seriousness the minor movements in share price are pretty irrelevant - the reality is the share price is almost at exactly the same pre-consolidation level it was in March 2020.

That's because we've made so little tangible progress on the underlying factor of actually making money as a company. The handover is quite a fundamental part of that.

Don't get the point of your post aerial - it was approved by Cumbria County Council last year, but is now getting called in for Public Inquiry?

Sausage - silence is never golden in shares and if there is one thing our BoD struggles to learn is about the need for timely news flow. They've always been a bit...slow.

There is clearly a problem. I do understand that if it is Covid related they may well be coming under significant pressure from the Tanzanian government around not using that in any formal news. You cannot underestimate the political power in countries like Tanzania.

But I agree that the Covid angle could potentially be having a bigger impact on us than is being clearly communicated to investors. We could do with someone with their ear to the ground in Tanzania posting....

We didn't take him on a tour of our site in February, did we?

esquimo - I think we can all probably read enough into the state of our operations. We've spent the best part of 3+ years (since October 2017) trying to get economies of scale from our mining.

There is nothing in the public domain that clearly demonstrates this has changed - if anything, it's the opposite - the reason we have signed the agreements with ILTL is to completely modify our current mining business model, because ours doesn't work. We lose money on every tonne of coal we sell under our existing business model. In 2019 we made an operating loss of £1.85m.

We're not currently struggling to pay our way - we raised £900k in January, but then we raised £1.2m in two chunks in January and June 2020, to add to our Lind loan. That’s clearly all gone as we’ve had to raise more cash. We can't make any margin on our operations - we need to issue shares to plug that financial hole.

I get the problems in Tanzania and all those other things working against us, as that's part of being invested in any share, but the market isn't bothered as we're now heading towards 7months since we should have handed over. It sees the fundamental issues we have, it sees the seemingly continued excuses in our RNSs and our share price reflects that.

The handover is absolutely fundamental, but we just can’t seem to get it over the line.

"Monthly Lind payment"