Member Info for GreenWolf

Best of luck with that - I've been asking about Sinohydro since October, sent four emails and not even had an acknowledgement to any of them. Good job I'm not looking to invest in the company...oh, hang on, I already have. Chat with Aerial - he has a hotline to Rufus, I believe. GW

Mounting Debt
Cost of sales greater than revenue
Pandemic blamed for non-resolution of discussions with strategic investor
No market confidence - open offer for c£600k raises c£60k
etc
etc
etc
But that's all drivel!!!

Aerial - I dont think I am. Look at the pair of you this morning - you're like the Chuckle brothers posting - to you, to me....

Aerial - we dont have debates on here anymore. As demonstrated yet again this morning, you and bigeye simply gang up on people whose opinion you dont like. No wonder we've lost so many posters.

Bigeye - as per usual, the only thing you seemingly bring to this board is rudeness towards other posters. Perhaps once in a while you should give us your wisdom on how well we're doing as a company - why are you still holding then? (I've told you in my previous posts full of drivel why I'm still here).

Teaye - my feeling is nothing has changed even with Alastair coming on board. Rufus has been chirping on about the card in his back pocket for many years - it's called jam tomorrow. The reality is we can't get sufficient economies of scale from the mining operation to break even and there isn't anything in our current publicly available figures that suggests otherwise. How many times has the company moved its stance on the timescales for breaking even, with an appropriately worded excuse? We're now living off debt, with us quite clearly looking for more money. It told us all we needed to know last Spring when we raised c£60k from an open offer intended to raise ten times that amount. The strategic investor is probably the last roll of the dice, and it wouldn't surprise me if it was some way linked into another open offer or further dilution. We've been trying to agree binding terms since November and then the last RNS puts the blame for the slow pace on the pandemic and resultant travel restrictions. Really? I thought most travel restrictions came in over the second and third weeks of March 2020. The RNS in February said they had visited the site - any other due diligence legal work can be done remotely so I don't quite understand what the issue is, or is it simply another excuse to buy more time. I've maintained my position for a while now here based upon the P&L figures that we are losing money operationally on our mining - if I can, by some miracle of a bit of trading and a lot of luck, get back to my average, I'll be out but I suspect I'm going to have to swallow my pride on this one at some point in the future. Genuinely GLA.

Aerial - but Diggerman doesn't have all the answers - Rufus always has...

Aerial - you could ask your mate Rufus when you next call him!

aerial - but the RCPP hasn't proceeded and therefore there are huge question marks over the commercial model now. We can't live on the past. The company is surviving on debt - we're losing money operationally and not only owe c£0.5m to Lind but are looking at another £300k loan etc - all the P&L figures and RNSs tell us that. We raised £700k in January and in 10weeks we have £60k left. There is no evidence to suggest we can actually get to breakeven because we don't appear to be able to get anywhere near the tonnage we need with the existing plant - the whole of 2019 was a litany of excuses as to why we couldn't manage it, including the belter of them all which was the blame over the Open Offer. Alistair keeps talking about our order book - if we can't mine the stuff efficiently enough to make a profit, we can't pay off our mounting debt. I just have no confidence in the business model - and the share price tends to suggest that the market agrees. GLA

aerial - perhaps through the mist of trying to educate me in the wonders of our English language, you might find the phrase "sense of humour". Or perhaps not. Like you say, I'm free to interpret it how I like. That aside, I'd really like to know from our esteemed Board of Directors where £640k of our January placing money has gone in a little over 10 weeks...…..that's clearly a very big issue.

Lol - surely if it's posted on the Edenville message board it relates to this share. I see you wavering, aerial.....

Sausage - I was referring to aerial's unabated support for the strengths of our company and BoD!!! Let's face it, that's a dire RNS this morning. No other word for it.

aerial - is the worm turning, perhaps??!!

aerial - that was exactly my point....

bigeye - yes, loads of large value trades going through.....the reality is that the share price can't actually go much lower, as our nominal value is 0.02p. Our share price reflects the problems we have. Big problems. GLA

esquimo - there is always going to be a need for coal, at least in our lifetime and particularly in developing nations. But, just because you have a proven c170+m tonnes, it doesn't mean that you're going to be able to dig it out, process it and then sell it for a profit. Mining of low value minerals is generally about economies of scale. That's the difficult part. I've said on here a number of times before that in terms of financial backers, you have to take that with a bit of a pinch of salt. IIs get wind of things far quicker than PIs and react accordingly to cover their positions. It's simply how the market works. What has really turned here over the last 18months or so since we agreed the CLF in November 2018 is we are now building up a debt pile. That means we need to make a profit just to service that debt, which we are clearly struggling to do. If you can't service your debt, at some point the plug gets pulled - and Lind have security on all our assets. You can only carry on making an operational loss as a company for so long. GW

I'm not convinced there are any real positives in there. We're in debt and still unable to produce saleable coal quick enough. And there is the small matter that we appear to have burnt through £640k of a fund raise in two and a half months. That's the bit that worries me the most. GLA

As much as it pains me to say it, I agree with aerial - if you're going to do any form of trading you need Level2, which is never free. It's worth every penny. GW

I thought HL's data was based on the last trade value?

Oh, it's going to be one of those days is it? Sorry, I know this board "belongs" to you two - I'll leave you to it. GW