Member Info for GreenWolf

bigeye - I thought you liked Rufus? Perhaps if you can get the idea out of your head that the people thoroughly hacked off with our BoD and free to air their views and opinions aren't simply Sumbawanga/larry/villagers etc in disguise, you might wake up to the fact that we're all under water with our investment here due to the "foresight" of our trusty BoD. The only people suspect on this board are those that have consistently praised this share for the last decade.

And in amongst all the guff and noise (admittedly some created by me) there is a post so sensible and to the point. Interested to know who has recommended it (and who clearly hasn't...…) - thumbs up from me

bigeye - thanks - can you suggest one from your extensive (non-abusive) vocabulary?

aerial - it's called an opinion. You keep harping on about "foresight" because shareholders were clearly sold that by Rufus at the AGM. That's your opinion. I'm not convinced, because I suspect that Rufus already had a whiff of the embargo to come. That's my opinion. Like I have mentioned several times, I cannot for the life of me understand why you keep bigging up our BoD and Rufus, something that you only seem to support via this "foresight of the BoD" thing, but you're entitled to that view. My opinion, the share price over the last four years and our financial performance, don't seem to support that view. Enough said. GW

Merlin - much more challenging as a cyclist! I used to spend a bit of time up in Cumbria (Greystoke) donkeys years ago. I remember my then girlfriend's dad taking us out for scenic drives in his Lotus. He was a complete petrolhead with nerves of steel. Not sure I ever looked at roads quite the same again.

Aerial - it's you that keeps harping on about the "foresight" of the BoD and how you were having your coffee chats with Rufus et al at the June 2016 AGM talking about possible mining production well in advance of the official August 2016 embargo announcement.

I don't consider it to be foresight at all as I suspect there was already some knowledge about what was coming and the BoD was already discussing it. What great timing after we had our mining license approved in the spring. I suspect it was sold to a number shareholders on the quiet who would probably make some noise as a wonderful opportunity that the BoD had come up with . In reality, it was a rushed, opportunistic, money making thought which because of the lack of experience in the BoD has landed us in a precarious financial position as a company.

Aerial - you're playing with words.

All you've demonstrated is you had a chat at the June 2016 AGM where Rufus talked about potentially starting small scale mining which was before the "official" embargo announcement in August 2016. By June 2016 that embargo policy would have already been going through the motions of getting ratified.

You simply won't accept that Rufus "might" have already known about that embargo given he has such close ties with the Tanzanian government.

I still don't quite understand your continual defence of our BoD given their undoubted success at slowly decimating our shareholder value, getting us into mounting debt and tying up our prize asset against a CLF - is Rufus your brother or something?

bigeye - can't fault your consistency though - nothing but abuse in your posts to me. Now, stick your head back in the sand and see if you can see any long term value in our Edenville shares

Aerial - You've contradicted yourself in the first sentence - you've said you've shown that mining wasn't as a consequence of the embargo, but then say it's conjecture to say they knew. We'll have to agree to disagree, because we also don't know for sure that he didn't know. He couldn't possibly have mentioned it, as it was inside information and any whiff of that coming from him would have destroyed the relationship with the government, and the company. Like I say, policies don't take two months to formulate from the initial discussions to becoming active - it's much longer. Edenville has been very close to the Tanzanian government for a long time - chats like the one you had at the AGM happen everywhere.... The more pertinent issue is as a company we decided to go into coal mining on a bit of a whim with insufficient experience. That's why in financial terms we are up the proverbial creak with a paddle that is getting smaller everyday.

Bigeye - you don't read anything on here that's longer than a sentence anyway, so you were undoubtedly lost after the first paragraph :-)

I see I've set the tag team off again.....

Aerial - but my point is it wasn't foresight from the BoD in June 2016. They clearly already knew that the Tanzanian government was pulling together a policy whereby they would ban coal imports. Policies don't just get made in two months - they are on people's radar far, far in advance of when they become public, especially those either in or close to governments. There was a really pertinent comment earlier on the Kibo board, which I do read occasionally given some of the parallels with Edl - "The BoD don’t have enough experience running these level of projects in the Energy sector. They’re nearly all from mining exploration backgrounds." And there is your foresight (or lack of)

Rufus saw nothing more than the pound signs back in 2016 around an early mining opportunity (only he knows if that was an opportunity seen to primarily continue paying Director salaries) but it was a complete lack of experience that led him to believe open cast mining would be easy. Now look at the mess we are in financially.

Your point about the company eventually being a success is where I really disagree with a number of people on here - we are losing money, lots of it, we clearly have insufficient plant to ramp up to anywhere near break even because we can't get the economies of scale, our debt pile is building and we've usefully agreed a CLF whereby all our assets are linked in to our primary lender. And the litany of excuses since we started mining demonstrates that somebody didn't quite foresee some of these issues......

The only way, and I can't reiterate that enough, that an AIM company with no real tangible income can survive is through raising funds, either via placings or private investor support. That relies on good news, possible opportunities etc etc and keeping the interest of investors. If you don't raise money, you can't operate as a company, or pay salaries. But if your business model has cost of sales so vastly in excess of revenue, your time becomes hugely critical. The loss of RCPP has indeed completely changed the overall 10 year plan, but is was the lack of experience (or indeed lack of foresight) of our BoD in relation to mining operations that has put us in a hugely precarious financial position. GW

Sausage / Aerial - interesting debate. My view is quite simple - the policy on the coal import ban was announced in August 2016. I'm sure a company that had been close to the Tanzanian government for c7+ years since Gemstone days would have got wind of it from someone well before June 2016's AGM....

"I was wondering when the tool would show up......" Took the words right out of my mouth.

Sausage - you sure you've ever been invested here? Are you Sumbawanga/larryygrayson/me (!!) in disguise? All tongue in cheek mate - keep taking the tablets. You'll never be right....!!

I think we have the poor infrastructure destroyed by rain to address first. I do wish AM wouldn't agree to put things like that in press statements. A number of us made the point about Covid-19 being used as an excuse - so what is the excuse now?

Aerial - I'm not convinced it is a mish mash. It's predominantly based on the 7 April RNS and there are numerous paragraphs lifted straight out. I've never read in any of our recent RNSs about "poor infrastructure destroyed by rain" - that is worrying and in my view something that should have been released formally to the market. It clearly has a bearing on our ability to "return to mining as soon as practicable".

Looks like a lot of re-hash from the 7 April RNS. However, the most concerning bit in that press release is at the end of the first para - what's the "poor infrastructure destroyed by rain" bit about?

Teaye - at the risk of being accused of negativity, I find the message on the website a typical diversion tactic from a BoD that quite clearly doesn't have the answers to some very pertinent but somewhat difficult questions from shareholders. It is now six weeks (and a day) since the last RNS. I'm conscious of the weather out there at this time of year, but given the messages coming out of the Tanzania government about the economy and (non) lockdown, what exactly is going on with our operations? GLA

Aerial - although I suspect far more important economic issues have overtaken this in the last two and a half months. All I'll say is dont hold your breath!

Teaye - there is a message on the company homepage so I wouldn't expect anything from Alistair at the moment. GW

Sausage - Nation's quite clearly undertaken his research over the last few days...….that's why he's disappeared from here!!