Member Info for GreenWolf

aerial - and your point? I changed my tune very close to when we got caught up in the CLF - check my post history. That's what changed my view somewhat.

I'm a realist aerial - I see the facts and that drives my sentiment towards all the shares I own. Those facts can change and they have here.

Becoming an active mining company as opposed to being a prospector changes the landscape of Edenville massively - and we've never been able to make it work. Perhaps my proper understanding of what our accounts mean puts a different perspective on things for me. You clearly have a narrow view of what the word "profit" means for an operating company.

That's your prerogative - but it's wrong.

And where exactly are the facts that we are breaking even? Nowhere.

We're in a much better position now but we've still a way to go. Perhaps accept that fact - even AM has talked about what we need to demonstrate to the market. I suppose you haven't even listened to that podcast.

You show utter contempt for people on here sometimes - demonstrated quite succinctly by your posting on Monday around the weather - five posts in 15 minutes taking the **** out of my post.....and your facts were completely and utterly wrong. You even said AM made a mistake

And not even a whiff of an apology - that sums you up I'm afraid – you’re never wrong. Did you actually click on my link?
I’ll post it again so everyone can see what a fool you made with those five posts - you might want to understand first how big a country Tanzania actually is and where it is in the World - and you think it's covered by one climatic zone?!
https://weatherspark.com/y/96844/Average-Weather-in-Sumbawanga-Tanzania-Year-Round

aerial - I'm not sure why we keep going over this. The difference between gross and net is fundamental to understanding a company's P&L.

The annual report is 100% clear in my view and is no different to what AM has already said in previous RNSs:
"These agreements ensure that operational costs will now be borne by the strategic partner and that the partner will purchase a minimum of 3,000 tonnes of washed coal per month, at a healthy profit margin to the Group."

It even uses the word operational - this is gross profit - it is about cost of sales vs revenue.
Yes, we will make a gross profit on every tonne of coal that is sold via a commission payment - but that is not our net profit for the company as a whole.

It's been explained in numerous posts today, John Z and myself included - we will make a profit (gross) on every tonne of coal we sell. Nowhere does it say that level of gross profit will be enough to cover our admin expenses and therefore realise a net profit for the company.

And that is what will move our share price onwards, as per AM's comments in the podcast.

Perhaps embrace the fact that plenty of people on here are actually knowledgeable in what they are talking about as opposed to looking for a quick pop at someone. How many times did you post about the weather in response to my post and talking about your so called facts, that were wrong – you even said AM had made a mistake - five times in 15minutes?
I was sharing facts and you took a pretty low swipe at me. What was the point of that?

We're here to share that knowledge aren't we?

JohnZ - yes, agreed - it's fairly straightforward stuff and just about how you carve up the cake but our income needs to cover all our costs to make a real profit.
More figures needed from AM.

JohnZ - simply put

What AM has done is half a master stroke, potentially (I'll come to that bit). We simply couldn't make the economies of scale thing work on our operations as a miner, so we've subbed it out to a partner. And they pay us commission.

So, that gives us a gross margin / commission on every tonne - that's our gross profit. And there's minimal risk to Edl as someone else is taking that risk.

We then have the simple task of paying for everything else that costs us as a PLC - salaries, BoD expenses, AIM fees etc etc.

The secret is making enough commission to cover all those administrative expenses...and then you get a nice net profit dropping out the other side.

But it's that commission that is critical now - how much are we getting per tonne, how much do we really need to sell etc to cover our admin costs - they are the quite large missing pieces of the jigsaw. And those are the figures AM was referring to in his podcast in terms of the need to demonstrate to the market and move our share price upwards.

Simple really!

It's the old gross profit vs net profit thing again. I've been on about it for 2 years and simply get accused by some of deramping, not being a holder etc etc and all that ******. I do this for a living ffs.

Attaining a gross profit is unquestionable from the change in business model driven by AM, which is a great start - you can't not make a gross profit from subbing out your operations and taking a commission unless something is catastrophically wrong, but that is not the issue.

It's the net profit that makes us tick as a business.

Esquimo - a healthy profit - but that's gross profit ie revenue vs cost of sales. And we've been having teasers for many years....
Don't get me wrong it's nothing more than expected really in the annual report and potentially most of it is already in our share price.
But it's not going to get us moving on with our MCap, yet.
Yes, Interims by end of October, but there's not going to be much in those either that we don't already know about - we didn't do a lot in Q1 and Q2 really.
It's a tangible Operational Update that will get us going, possibly. It's a question of when we get that. GLA

JohnZ - potentially but its all talk from the BoD - they have signed an agreement with ILTL. Nowhere do we have the facts to back up how much commission we make and therefore how much tonnage we actually need to sell to cover our non operational administrative costs. We're all guessing.

AM said figures will move this on - there's nothing yet, except aspirational numbers. That's not going to be good enough for the market.

And I'm unsure if the interim are going to give us the answers but there's another month yet to update on post period highlights.

And to cap it all we have the rainy season just around the corner. That's not in the company's control at all.

Jax - yes, not that I've mentioned anything to that effect on here before over the last two years.....gross margin is shocking, but changes with the IlTl handover changes that business model. That's the point of subbing it all out.

But, the big number to consider is our administrative expenses and whether the commission from our coal sales going forward is enough to cover our costs there. That is where our net profit figure comes from.

And those are the figures AM was talking about in the podcast, not that I would know what I'm talking about.

Sausage - there's nothing unexpected after a quick read of the numbers. All about how the market reacts. GW

I'm fully expecting a 7am RNS.

"Shorters are getting burnt with this share...." have you inadvertently disclosed your position Tom?!

"An understandable mistake" aerial - you owe AM an apology there - lol
15 minutes left in an exciting premier league match - quick pint before I get ejected from the pub.

Johnz - there are four climate zones in Tanzania; Sumbawanga is in a climatic zone that has uni-modal rainfall - one long rainy season. Click on my link in my last post - it will tell you all about the weather in Sumbawanga throughout the year.

You're right aerial - actual facts are very important.
https://weatherspark.com/y/96844/Average-Weather-in-Sumbawanga-Tanzania-Year-Round

aerial - we had a RNS in February this year saying that the region is experiencing one of its wettest “rainy” seasons in many years?

bacardi - it's a passing shower - the thing we need to be conscious of though is we're only just over four weeks from November.....that's when things start to become a little more slippery under foot over there.
We're then squarely in the lap of the gods until the back end of April.

aerial / esquimo - the question to ask is how many of our major shareholders hold some or all of their shares through Spreadex / Intertrader.......there's c22% of the company there and c1.8b shares......and how many of them have the ability to be able to influence the share price if they wanted to.

Teaye - our annual results are due before the end of Wednesday (delayed from end June) and our Interims before the end of October.
If we don't report our annual results by 4.30pm on Wednesday, we are suspended - but that won't happen.
But, far more important is the post period updates.......

Teaye - in all seriousness your email sums up what has been wrong with us as a company for years. I've no doubt everyone holding on here hoped that it would be all different under AM and, to some extent, it has been.

But, radio silence around one of the "potentially" transformational events in the recent history of this company doesn't support market confidence.

As does running the annual report down to the wire, despite having a further three months to audit, review and sign off.

Come on AM

I agree it's a hold at these levels. But I'm not convinced anybody on here knows anything.
We're all guessing and there is no doubt that MMs are trying to flush out the weak.
GLA and good weekend