Member Info for GreenWolf

aerial - the only thing you're missing is the location of your Caps Lock!!! I don't disagree with some of your comments, but don't ever be fooled by institutional holders. There have been some odd, to say the least, share price movements in 2019 and if you look across many AIM shares, including ours, it is quite clear that someone in the background will have made very rich pickings from those movements. How much money could holders have made from buying then selling between 0.02 and 0.12 over very short periods? I very much doubt under the FCA regs you would need a TR1 notification if the selling and buying of same volumes was very quick, or brokered through a third party. Lind have all our assets attached to their loan - they have no commercial worries. With regards to breaking even, yes, if we get there that will be great and the start of a more positive journey, but we're not there yet and given the track record of our BoD, I'll believe it when I can either see it or draw my own conclusions from sufficient information on our mining operations - we still don't get this regularly enough and there is absolutely no excuse for that. It's a business - they know what they're spending and know what their income is each and every month. We have had some great success finding c170m plus tonnes of coal, but that doesn't mean the company can turn prospecting into commercial viability. Everyone in Edl can see the "potential", as can I, but we should all be cautious as PIs. I suspect all those invested at an "institutional" level are well covered. That means if things don't go to plan then it's the PIs who end up holding the baby. It's great to be positive, but let's also be realistic and cautious at the moment. GLA

aerial - Brandon Hill is a broker which means it generally holds and trades shares for it's investors (including individual PIs) as opposed to carrying the financial risk itself, Pitchcroft Capital is a small (under £100k assets from last accounts) holding company for three guys in the Midlands (who also have other holding companies) and Lind don't actually care that much because they have all their equity secured against our assets. I wouldn't quite put any of these in the major II camp myself, but happy for us to disagree on this. There have also been one or two interesting share price rises post placings / share allocations (including the mother of al rises from 0.02), which may simply be a coincidence. I have my views on that. I'm certainly not as positive about our BoD as you, notably due to the almost continuous jam tomorrow message, moving deadlines, lack of updates on production etc etc. It's all about balanced views and personal risk analysis on these shares, but having traded a lot on AIM particularly over the last ten years where the landscape has massively changed for PIs, I have a very risk averse view to AIM and do a lot of research for red flags. Edenville is very, very high risk and if I had managed to make my money back by trading it I would probably be out or at least be looking for a free ride. I have no sentiment anymore for AIM shares, albeit this was one of my first so perhaps there is a hope that it will come good. I am keen for the views to stay balanced on this board as we have some very knowledgeable and longstanding contributors, but in my view the high risk is clearly there and the BoD haven't exactly provided the foresight you intimate. Genuinely good luck everyone, but lots of risk still here for us PIs. GW

aerial - but see my earlier post re the huge share price rise we went through. My experience on AIM is there is significant flipping of shares to either average down or get a free ride etc. We do it as PIs and undoubtedly IIs do it too. The difference is we're normally slower to the knowledge, if you know what I mean. Remember that IIs know far more about what's going on in the background. I never use the %age of II holdings as a marker for my investments anymore - I used to but have learnt the lesson to my cost. We all know companies like Edl are about "potential" but I've been in too many potential millionaire makers that failed in the past so it's about hard facts and fundamentals now. GLA

larry - my reading is Monday's RNS talks about cash payments to Lind, which is the title of the RNS. That's fine with me but we then pay £25k in consultants fees in shares and then raise a further £300k in a placing. It's not stacking up too well in my eyes but the Interims this month might shed some more light on things. GLA

aerial - good cut and paste but what does this actually mean? 21st August RNS said "Utilising a modest part of the proceeds from the fund raising undertaken in May 2019, the trucks will provide the backbone of load and haul operations at the Project"

Talking of looking through previous RNSs, can someone clarify what the £300k is for? GLA

aerial - the MAR is a funny document and like most legal regs is open to interpretation. We wouldn't need lawyers if they weren't. I'd like to get my hands on EDL's Article 18 list.....GLA

aerial - isn't the original post from summer 2015?

NMH - a good post and actually brings up another red flag for me. We experienced one of the biggest short term rises in a share price I have actually seen in over ten years of trading and investing, notably after significant numbers of shares being issued to the BoD. If our institutional investors bought and sold into that short term spike (I certainly did) they would effectively be on a free ride and potentially in substantial profit. You make a great point about PIs not knowing as much of the background story as IIs. There is a lot of risk in EDL, always has been and I do hope for holders that we get to the gold at the end of the rainbow. GLA

Superfly - it's fairly basic economics really. You can live / run a company off debt and loans as long as you can service them at some point. Companies tend to fail because the debt becomes too much of a burden to service and it's called in. Big revenue generating companies fail this way too. It really is time Rufes et al delivered some jam or at the very least gave us something a little more concrete to go on in terms of our future. Yes, we're now a producing company, but its the economies of scale and margins and how quickly we can ramp up to those levels that are all important. GLA

aerial - I don't see my post tearing the RNS apart. My post is my opinion based upon what I see in black and white. As an investor here, as long term as you, I have every right to be concerned about, as NMH19 succinctly puts it, tight cash flow. Paying fees in shares has been a red flag for me before on several AIM shares. We are clearly struggling for cash, but the key is cash flow, production figures, sales etc etc - the same things we keep talking about so that we have confidence as investors that we can get over the debt hump and become a proper going concern. GLA

aerial - placing RNS to raise £300k. What worries me more is we have had to pay £25k on consultancy fees in shares. That tends to suggest we are operating a little hand to mouth in terms of cash. I don't see that as a particularly positive part of the RNS. Fingers staying crossed. GLA

Torre - my question to you is how do you get your high level calculation of margin at $200k per month? One or two will tell you on here that I keep harping on about what profit we might make, as its crucial to us continuing as a going concern. The biggest problem is the BoD is very shy on our P&L figures regarding the mining ops. Our pure admin costs were c£65 to £70k a month last year. Cost of sales is therefore the key and you can then drop out the EBIT, or profit. Just interested. GLA

aerial - in fairness the RNS doesn't actually say a lot. I'd be slightly concerned after the money raised from placings etc (didn't we raise c£500k? in all) if we were paying our loan off in shares this early. "The Company's intention is to satisfy subsequent repayments through cash rather than through the issuance of the Company's ordinary shares to Lind" - I would hope so too. GLA

Bright - heading towards break even on our mining operations would be the best news. We then need a c£750k profit to cover our annual admin expenses. GLA

Billy - we could a see it coming good in the end eight plus years ago!! GLA

Norrab - I believe it's called a trading strategy....GLA

Dallo - $6b is c£5b which would value us at c£1.25 a share - not for me. GLA

Interesting article - I dont take too much notice of these as they're almost like an extension to Broker notes. You either believe in the fundamentals of a business and invest or you dont. A bid has been talked about for many years, but I have one or two in my portfolio that I expect to get hovered up at some point. Brexit uncertainty is the key at the moment I fear. Would you buy a UK plc when our economy is currently on a knife edge? GLA

Nearly always a green flag for me. Doesn't matter how much we think they're both worth as individuals, c£50k is not pocket change. GLA