Member Info for GreenWolf

Aerial - perhaps we would be "ok" if we had reached breakeven in January 2018 for a start.

Perhaps there are one or two of us significantly down on our investments on paper and are locked in and disgruntled at continued BoD words about it will all be ok. People do not invest money based on what is posted on public forums, so whatever is said on here has naff all to do with influencing, supporting or undermining the share price. What is jarring is all the positivity given our P&L is struggling (we're losing money every month - of course we are on a knife edge), the BoD continue to miss their own deadlines and we mined stupidly small amounts again over the last few months. The real danger is we never get to break even or are here long enough to see things such as the transmission lines in place. GLA

aerial - I don't disagree with the sentiment around the transmission lines but a power plant is not yet on the implementation horizon which feeds into the difficulty we continue to have that we're losing money on our revenue. We could do with a really positive update on the Sinohydro work. There must be discussions going on as the MoU comes up for renewal again in December (I think it's Christmas day!) Despite the accusation from some of my continual moaning I actually posted a positive from our interims regarding margin improvement. But it's not enough and like I continue to say, if we can't get to break even quick enough, we won't be here for any coal to power project. The danger of the CLF is we have pawned the family silver, which means it puts Edenville at much greater risk and, of course, us as shareholders. The risk to our holdings as PIs is increasing every day here. Aerial - it's all about time with AIM stocks like ours of first finding / proving our resource, then finding the way of extracting it and then being able to get to a position of operational breakeven quick enough. The first two of those do indeed require patience, but we're now at the last of those stages and time really isn't on our side. The figures yesterday suggest we are indeed starting to run out of time after c21months of mining operations. It is truly on a knife edge - I hope it turns out well for us. GLA

aerial - yes, it's a high level policy document that originated in 2017 to "set out guidelines and principles to be followed during the land acquisition process and to prepare Resettlement Action Plan(s) (RAP) once the exact design and feasibility study are finalized for that stretch of the transmission line". It's not an implementation plan - the financing agreement I have already talked about gives the current plan to 2024 in terms of Phases 1 to 3 of the project. There are some really interesting documents on the World Bank site under project P163752 for those interested in the facts. GLA

aerial - is this something you have been sent then? There are bucket loads of documents attached to the project on the World Bank site (25 plus). The policy you refer to was first put together at the back end of 2017 and is a high level strategy, so talks more about possible impacts as opposed to what is definitely happening. It's also clearly been superseded by subsequent events including the cancelling of the tenders at the back end of 2018. The signed credit agreement between Tanzania and the IDA is worth a read as it is quite an objective list of what the £465m finance is for. I'm just keen for us to post the most recent facts on things as opposed to muddying waters. Has Rufus texted you back yet? GW

aerial - the credit finance agreement document signed on 7th September 2018 only talks about parts 1 to 3 of the project getting financed, which includes the transmission lines and substations. It doesn't include for any coal plants

aerial - which of the documents is that?

aerial - fair play to you - it needs clarifying as I suspect the powers that be might have a view on whether it's misleading as opposed to simply ambiguous. I'm happy to be corrected but the World Bank PAD on the transmission lines doesn't mention anything around coal fired power stations. GW

But then a lot of our RNSs have elements in them that are open to interpretation and which our BoD "believe" may have positive impacts on us as a company. That's fine, but I simply don't subscribe to the noise in RNSs anymore which is why I fall out with one or two on here - I just like to understand the hard facts. The power transmission lines are for bringing power across the region - nowhere have I read in the World Bank's Project appraisal document that it means they will need a coal to power project at Rukwa but nowhere does it say they don't. You can infer what you like from that. GLA

If you start to pull the figures apart, you can see a very minor improvement in the cost of sales versus the revenue ratio - that's a very broad brush measure of a simple margin. So last year it was c28% and for the first six months it's c31% - 100% would be break even. That's 10% better which is a positive. But there, again as I keep saying, lies the challenge. We need to get production up to drive economies of scale very quickly to even think about breaking even. At the risk of being accused of everything under the sun, that figure suggests to me that it's going to take a lot more than even 12months from the end date of these results to get anywhere near to break even. That's the challenge, because we'll simply keep burning through cash in the interim. I'm not convinced that £300k we recently raised is going to go far even with the CLF on top, but only time will tell. Clearly the market has already factored in what some of us already suspected. Genuinely GLA but there is still a whole lot of hard work for our BoD to do (and quickly). GW

Bigeye - why would I filter you? But why do you keep bringing up other shares on here? The simple fact is you're 90% plus down on your Edl investment and keep going on about patience - we've found our pot of gold - it's 170m plus tonnes of coal. We're mining it and have been for nearly 2yrs. That's all great, except were losing money extracting our pot of gold, our BoD continually fail to give us numbers and our share price is on its backside. We should have been at break even in January 2018! I do see the point about "potential" as that's why we're here but like I keep saying, the facts we have at the moment aren't good and we're not prospecting any more we're actually making revenue. But it's costing us more than the revenue were earning. All you seem to do on here is call people names and verge on bullying them as you think you're right and either can't or don't want to accept facts, facts which are there in black and white in our company info . You may well be proved to be correct, but that's subjective. The objective hard facts don't yet point to that. And as for trying to be nice, I'll leave others to form their own opinion of you based upon your words to some posters on here. I see aerial has recommended your post. GW

bigeye - What IS your point? Your posts on share analogies are beyond puzzling - I made a statement - let's put it another way - if you gave someone £50k to invest for you and 18months later it was worth £7.5k and they continued to say to you "don't worry, you'll get a return on your money - be patient" would you continue to sit there and accept those comments? And just because you feel a sense of such importance on this board you expect a response from someone to one of your posts? Wow - isn't that called delusions of grandeur - or perhaps I should apologise for posting on your board. GW

bigeye - why comment on a post that says more about its poster than I could possibly say in a response? GW

aerial - you're sounding like Rufus - "but not as big an if as might be thought hopefully" - in all seriousness though, I hope so too. We're nearly two years into mining so we need some solid and somewhat transformational figures in the interims. GLA

bright - it was a Friday if I remember correctly in June. GLA

Backtothegrime - I'm interested in what your charting says - why do you think the charts point to a short term uptrend? GW

aerial - noted, although I look at this quite simply. If you had given £50k to an investor eighteen momths ago and now it was worth £7.5k and that investor continued to tell you not to worry as it will all come good, would you not be disgruntled? It's all about us having balanced debates, as you said last week. You and Bigeye think everything is fine, I don't and we should be accepting of other's views. Let's see what the next week brings. GW

aerial - not really the right board, but TCG shareholders will probably end up with nothing whatever happens - seen far too much in Flybe and Debenhams. £900m debt is a serious figure. GW

aerial - that sounds suspiciously like the info I keep moaning about - "solid unambiguous statement with figures and conformation of their on track belief to break-even". Technically they can go to Monday 30th September under AIM rules, but I agree with you and I expect something this week. GLA

Bigeye - it's quite simple - the information I want to see regularly is how we are doing operationally. This info informs the balance sheet etc - the info required for the interims. If the BoD isn't pulling this info together regularly as they should, the interims can't get published in time. GW