Member Info for GreenWolf

adbon - you're right - August 2016
Agility - your shares are indeed worthless

5 years of constant ramping probably......
Seriously though, 1000 to 1 consolidation last week - you now have 170 shares

aerial - yes, let's try and rip off existing shareholders with an open offer at 0.12 and end up raising via a placing at mates rates to members of the BoD and institutional investors of 0.02.

There's a great way to build trust in your business!!

I'm assuming your post is tongue in cheek

The first whiff of our strategic partner was announced at the end of November 2019. That's almost 14months ago now and discussions were at an advanced stage then.

Covid has undoubtedly had an effect on the allocation of visas, but to the market this issue dragging on for so long comes across as more excuses and potential risk. Is it just the visas holding up handover?

I personally see the Lind issue on two levels - in its simplicity it's not an issue because the BoD has already negotiated a potential $1m loan with ILTL, which could be used as a stop gap.

However, because Lind have first dibs on our assets - they are all secured against the CLF, lock stock and barrel - this is where the inherent risk comes in. I'm not wholly convinced Lind has driven the consolidation. I suspect this has been done to allow the BoD a little more influence over discussions by having the ability to raise funds if needed. We were too near our nominal value before consolidation. That's never a good place to be if you want to raise money through issuing shares.

We need an update from the BoD - yes, they are undoubtedly working hard on things, but we're not demonstrating a huge amount of progress to the market, even accounting for Africa time. That's the bigger problem.

5eights - I hope you're not insinuating there are GS games going on??!!!!
You're spot on though - we're at the mercy of larger forces..
Good weekend all. GW

bennc7 - in theory it will dilute holdings by 1%, as we have 400million shares in issue as things stand.
I really wouldn't worry too much about it. GW

Aerial - I wouldn't quite call a spread of c20% an attractive prospect for potential investors. Look at the buy of 10k yesterday at 30p and the bid dropped shortly after to 23p.
MMs don't, yet, want the shares in any volume and they have made that clear over the last couple of days since we consolidated.
That suggests they are not interested in making a market, so what is really going on in the background that PIs aren't, as yet, party to. I suspect the placing that you mentioned several times at the end of last year?

Yes, there are less shares available but we still have 8million and a volume so far today of 16k which is about, what, 0.2%? Surely if MMs had any real desire for shares they would up the Bid and close the spread.
I can't see significant volume until we get an update and we know either way as to whether the consolidation has been a driver for a placing.

Teaye - in reality the weather makes no difference at the moment because we haven't handed the mine over.
But it could delay things further.
More importantly while we're in limbo we're burning cash and bringing in very little revenue.

Crystal - consolidation is never a good thing on AIM shares. Experience suggests it is simply a vehicle for rinse and repeat.

Yes, there will be those that argue it makes no difference as the MCap stays as is, but in reality consolidation just allows the share price to get chipped away at again, more shares issued, dilution etc etc.....and PIs lose.

Nation - good move - allows our BoD to talk a bit more about hot air.....

There's your answer Sausage. HNY by the way.

Indeed, only time will tell.
There is no arguing against where we are as a company, but there is no argument that there is far more potential in us as a company than there was even a year ago.
But the last consolidation has done nothing but allow the BoD to issue more shares, facilitate losses as a company and of course pay their wages.
We need a tangible update on Lind (not just "constructive discussions") and what is happening with the ILTL handover? It cannot possibly take this long to sort out visas.
If the right news flows, we'll see a rise. Once we demonstrate we're a sustainable business, we'll hold that rise. If we can't convince the market, we'll languish and simply fall from our new consolidated value again. GLA

Agree, probably just a careless tweet :-)

Teaye - the wash plant recommenced operations on 19 Aug, so they're a bit behind the times on Twitter....

Esquimo - I have directly mentioned my averaging down on here at least twice over the past months alone (Sept, Jul...) I don't really see how that comes as any surprise or is secretive.

Just because I am averaging down does not mean I am also increasing my medium to long term capital holding - I'm reducing my overall financial exposure to the risk. As an example our share price more or less doubled between April and September? That's 100% if you bought near the bottom. There was another easy 25% profit in October over a few days. The more you trade like this the more you reduce the financial impact of any historic holding. Eventually the hope is you end up with a free ride, because you have made back on trading a value equal to or more than your previous higher investments.

Looking back through my posting history will demonstrate exactly when I changed my view on Edenville - when the CLF came in. Why? There is a reason it's known as death spiral financing. Four years ago we consolidated by 20 times - today we are now at more or less the same share price we were then.

There are very clear reasons our share price is where it is and is one twentieth of what it was four years ago, whatever progress we think we've made. The fundamentals to support an operational company are not yet in place - they need to be there to convince the market, not anyone on here. Look at our operational results – a loss on every single tonne of coal we sold.

But that doesn't mean it couldn't change. And it certainly means given the historic movement in our share price, there will be opportunities to sell on some more peaks, particularly if you’re hoovering up towards the nominal value. Whether we can sustain the share price is a question of whether we can get the fundamentals all sorted and a mis-trusting market more confident in us as an investment.

I'm not sure what the purpose of your posting about me is to be honest.

I was just ignoring you

Aerial - I find it quite interesting that I haven't posted once on here in six days, yet there have still been the disagreements, to use a polite word. I'm wondering where the common denominator is. Similarly I see the name calling continues by some.

Like you said last week, nothing posted on this or any other bb can possibly have any affect on a company's share price.

And what I am doing with my money and my investments is my business. You can call that secret if you want but that's my own risk versus reward strategy. I don't broadcast my top ups and sells.

aerial - the inherent danger of consolidation is we end up in a rinse and repeat scenario.

We consolidated x20 back in Aug/Sept 2016 when the share price was, if I recall, about 0.025 ish (?) so not dissimilar to today. Four years later those same share holdings are therefore worth roughly one twentieth of the value they were just over four years ago. That's really not a good medium term investment return.

But, we did enjoy some huge volatility in the following four or so months - my preference as somebody still chasing their average down is a low ball placing and an opportunity to de-risk with some decent spikes in the weeks/months afterwards. IIs have had that opportunity before - PIs deserve a chance now.

It's really whether they can raise sufficient funds above 0.02p, as we can't raise below our nominal value. If they can't get sufficient uptake they would need to consolidate. I'm fairly certain under the Companies Act it requires shareholder approval and it's not something you can remove via the Articles of Association.

In principle, we may be forced into an equity raise anyway, because if Lind do need to be paid back and this $1m loan from ILTL isn't going to materialise quick enough, there's nowhere else to go.

As long as it is handled better than the debacle early last year - what was it - an open offer to the market at 0.12p and then eventually a mates rate of 0.02p to IIs. That won't have been forgotten.