Member Info for GreenWolf

Page - you should still be able to buy under the EDL ticker

SP7 - they need to offload Rukwa. End of.

We talked about diversification way back in May 2021 but instead wasted £2.5m on shoring up the mining operations. We've lost c£1.5m a year since we started washed coal production in October 2017.

Coal isn't our future - we've wasted too much time and money on it already. Edenville was yesterday. Let's leave it there.

New name and new personnel should be supported by a new strategy - onwards and upwards. GLA

Bullish - it is exactly the same message that's been on the Edenville website for a long time......

https://edenville-energy.com/operations/

I'd like a RNS update on our production figures though.

Looking strong. GLA

Yes, it was this morning at Fasken's offices.

Anyone going?

I'm unfortunately house bound with a dodgy knee, again. I really do need to give up football properly.

To be fair the AGM is a tick box exercise as the BoD don't have the necessary authority under the Articles of Association for the quantum. The investment is already there. Who would not vote in favour of it? They would be mad.

Nick came with massive credibility and fanfare, but that didn't quite work out.

I get what you're saying, but the time for even any hint of excuses is over. It needs to be onwards and upwards. GLA

Bullish - I don't quite get that logic.

If there is positive operational news, they should be telling us. Why do they need to wait?

Historically here no news, or delayed news, is rarely good. Perhaps our revised BoD should quickly learn from the mistakes of Rufus, Alistair et al from the past and start to really grow the market confidence in us as a company.

I'm more bearish than you on the implications of warrants. If we dont get to 25p, they just expire. And if we're less than 25p, they can simply buy them on the open market. It's just an option, not an obligation.

Well, nothing unexpected financially with a c£150k loss per month. Still believe we need to be at about 8k tonnes during the summer season based on those figures.

I'm disappointed there is little on future strategy and diversification though.

Wasn't that the Covid extension esquimo?

The interims will be out tomorrow.

Well, I've had worse days as an Edenville investor!

Nice to see some positive movement in our share price again this week. GLA

Bullish - I've questioned the capacity need for a second washer as the one we have, apparently, has a throughput of 10k tonnes per month.

The info we have from our P&L suggests we need about £150k per month to break even. That's from 2019 which was the last stable production year when we did all the mining, so carried all the costs of sales etc. I suspect the cost of sales will have increased a little since then.

Our income is about £35 per tonne according to the last operational RNS (March) so you're looking at somewhere between 4000t and 5000t per month average to pop over the breakeven threshold. But....with the impact of the rainy season, which can be an unknown, I think we need to be upwards of 8000t a month in the six month dry season to give us a fighting chance of annual breakeven.

That's very rough and ready from the top of my head as I'm on the train.

Time will indeed tell, but like I posted earlier, I'm no fan of spurious investor reports when they don't appesr to pull out the facts we actually have in the public domain.

Interesting article. I'm always wary of these things when clearly the writer has done limited research. "March-May is the long rainy season in the country, so this is a problem for three months in every 12."

Nope, the seasonal rainfall in Tanzania isn't the same across the country. Our wet season is October to April - always has been (we had extensive floods in Jan 2020 due to rainfall..) and it always will be.

https://www.tanzaniatourism.go.tz/post/FACT/17

The best thing to have on these boards is people who have knowledge of the company....

Just for balance, we raised £2.05m in May 2021 in a strategic placing with Tony Buckingham, RAB Capital, Pitchcroft, Brandon Hill and John Story.....

It's all about delivery, as we've delivered the square root of naff all since we started washed coal production in October 2017.

Yoser - only time will tell.

No-one ever said this was going to be a sprint when we paid £7m for Edenville back in March 2010. God only knows what we have spent since then!

We've had lots of empty promises and fed hopes of dreams over the years.

Perhaps this one will actually come to fruition.

GLA

Panman - if, and I mean if, we can get to an average c5000t of coal sold each month, we should be in operational profit.

There are a few of us still left on the board that have been here for an eternity and therefore we have a lot of invested (gambled...?) knowledge of Edenville.

The greatest challenge we have faced here since we started washed coal production in October 2017 has been economies of scale. I would take a read of our RNSs since October 2017 - notably the ones around operations (eg Operational Update in the title) and also our Interim and Annual results. Our 2022 annual results are due over the next four weeks, but they wont be pretty.

We also have the small issue of a long rainy season in Rukwa. Its direct impact on our open cast mining varies year to year but it means that during the long dry season, we probably need to be averaging upwards of 8,000t as a commercial resilience measure.

It doesn't actually matter who comes into our Board, how much money they have or what success they have had in the past, if the issues that have affected our coal operations for approaching 6 years cannot be overcome, it's never going to work.

You know the usual Esquimo - it's the same over on ADFVN - a bit of excitement and a few different posters appear. There have been a lot of sells into that rise today.

Perhaps if one or two did their due diligence they'd realise how many times we've been here before.....

5th May 2021 is an interesting RNS and a fair few similarities.....where's that c£2.5m all gone to? All the bluster when Nick came onboard in June 2020 - he's actually achieved nothing in 3years.

Just need the market to settle a bit before I get too bullish!

I hope he's right but we need to get there before they release our annual results

Yep, no tax......! But as GG says, £20k is the maximum you can invest / add into your share ISA each financial year. Nothing to stop you doing as many trades as you want.

But, if you have a current cash ISA you can transfer as much of that as you want into a Share ISA and it doesn't affect your current tax year allowance of £20k.