Member Info for GreenWolf

Esquimo - there is no short and long rainy season in Sumbawanga. The area is in a part of Tanzania covered by uni-modal rainfall, not the bimodal (or Vuli) rains.
http://www.wamis.org/countries/tanzania/tanzSCFNov_Apr2020.pdf

That's the question - the Debenture is a public document but the Convertible Security Funding Agreement, which contains the Events of Default, isn't.
So have we defaulted or haven't we?

Like I posted this morning - "The Company's intention is to satisfy subsequent repayments through cash rather than through the issuance of the Company's ordinary shares to Lind."
That is an implied contractual commitment to Lind.

Over to you Alistair for answers.

Who Diggerman is, what he does, who he works for etc is his business. If he wants to keep that to himself, that's his prerogative. Why anyone would want to post personal details onto an open public forum is beyond me. I'll just tell you who I work for, what my business is, who my contacts are etc etc - really?

But he was right about the mine not being handed over and we then had a subsequent RNS which mentioned, for the first time(?), the 60 day handover period.

The Lind issue is a very large elephant in the room - the worst case scenario is if our money is due and we don't pay it they invoke the contractual clause in the Debenture and call in a receiver. I don't expect that, but it's there in the Debenture in black and white (Clause 15).

As CrystalBB states, it needs an update from our Bod to settle the market, pure and simple.

aerial - are they? I
've struggled to find anything tangible on ILTL or MarTek Global FZ-LLC

You have to be very careful what you say in RNSs
"The Company's intention is to satisfy subsequent repayments through cash rather than through the issuance of the Company's ordinary shares to Lind." 2 Sept 2019
That is an implied contractual commitment to Lind. What other discussions had taken place with Lind where this was discussed?

Aerial - what's that got to do with the Sumbawanga region?

Teaye - no, there is only one rainy season in Sumbawanga, whatever others say.
http://www.wamis.org/countries/tanzania/tanzSCFNov_Apr2020.pdf

John Z - it's the AIM casino - only PIs lose, probably because we are last to know anything. But you learn to notice the games, the usual signs etc.....
We just need an update, positive hopefully.
Anyway good weekend all.

Nation - you're having discussions with people who have been here a long time and understand the challenges we face. It's not trolling.
Nobody in their right mind would short Edenville at this level. If anyone was ever going to short it they would have done it well before now, probably even before we consolidated last time.
Shorting AIM stocks is a fools game, especially given how liquid this stock is.

If this ten bags by Xmas as you've said I will bow to your judgement as a master. I've assumed you meant Xmas 2020.....

John Z - "someone who has access to EDL info" - what, like IIs??

aerial - "Edenville plans to monetise the Rukwa coal deposit via the development of a mine-mouth coal-to-power project providing electricity to the Tanzanian power grid"

The unfortunately quite large fly in the ointment is where's the money for the coal fired power plant coming from?
It's "hope" for us shareholders, not "reality" and we've been hanging onto that hope for a long time.

I'm also slightly intrigued as to why you keep mentioning a placing and consolidation. That's twice now.

Aerial - I get that, but I still don't see anywhere where there is any actual commitment to building a coal fired powerplant.

Yes, the interconnector and substation will be built, probably by 2024, although this is Africa. The interconnector is to bring electricity into the region and the sub station will lower the voltage from the overhead lines to a useable voltage for the city.

I agree it "could" offer us the opportunity to feed a power station at that end of the transmission lines, but it's been on our radar as a company for many, many years, so until there is something a bit more concrete, it is still a hope as opposed to reality.

20million traded versus shares in issue of 8billion - it's hardly volume aerial

Sausage - the rains are here, my friend.

So I'll post it again, given it is publicly available information.

Clause 15 of the Debenture document that supports the Convertible Security Funding Agreement is a Receiver clause - this can be invoked if the security (loan) is defaulted.

AM needs to get this issue resolved very quickly.

aerial - I don't disagree with the sentiment, but there are a few ifs and buts in that scenario.
Are you really convinced the handover news is going to give us a decent sustained rise in our share price? I personally think it will spike and then drop back.
It's the operational numbers the market wants.

What, another c1.5billion plus shares at c0.04p to add to our c8billion?

Not sure it's a further opportunity for those invested, unless the BoD had to do a placing a discount to our current share price. There's plenty of current liquidity.

I don't genuinely see that as positive?

We have an outline agreement for a $1m loan from ILTL - surely that's the opportunity to explore if we're confident the new operational model will provide us with sufficient profit to pay off such a loan?

aerial - I'm too stupid to find this myself... I thought I'd help you our given internet research doesn't appear to be one of your strong points - this is last year's bulletin by the way
http://www.wamis.org/countries/tanzania/tanzSCFNov_Apr2020.pdf

esquimo - we only have one rainy season in Sumbawanga - not sure what you're on about?