Member Info for GreenWolf

Cahus - what is also common sense is how long a company can operate as a going concern without making profit. You can't simply keep losing money. GLA

Aerial - it cost us c£1.2m to generate revenue of £350k and our loss has increased this year. The figures look poor, but it's a question of how quickly we can ramp up mining and try to get economies of scale. It's all whether we will have enough time and money to get to the point where we are making profit on our coal. GLA

markdods - I'd do a bit of research on Edl if I were you. Yesterdays RNS was yet another jam tomorrow message, to add to similar ones we've been getting for the last however many years. Annual report is due by end of June and will probably tell us all we need to know. Ignore the noise on LSE boards and DYOR. GLA

Clazas - so what positive figures are you expecting from our 2018 annual report?

Pi - well the facts we all need have to be published in the next two weeks or we go into suspension. Yesterday was interesting - some usual names from across the LSE over enthusiastic brigade and therefore I shut myself off from the noise. The RNS was actually typical Edl - little real substance and a bit more guff from the BoD. And the market has reacted as expected. GLA

jzd - agree - my more pressing point is that we can't mine for a profit and worry that we could be mining 20,000 tonnes a month and still not making margin. The current business model is clearly not working and if we can't get economies of scale, we're finished as a going concern. I'm interested in what Teabiscuit has seen in his due diligence that I haven't but nobody has yet persuaded me over the last few years that our mining operations are or can be successful - and that means returning a profit. There may well be a valid commercial reason why our c170m tonnes of coal has been sitting there in the ground for so long without anyone bothering to extract it. GLA

Tea - not sure I understand. We're a c200% plus rise off even 0.2. The last attributable updates on operational margin show we are losing c£70k a month, we have loans (debt) and we're quite clearly struggling to get economies of scale off our coal mining. How do you value us at 0.2 to 0.3 or even 0.5? I just cant see it as things stand but I am keen to understand what I might be missing? GLA

Tea - what are your thoughts on share price / Mcap valuation? GLA

Matt - fortune favours the brave....ITV next for me given their new appointment.

Yes for some time - the subtle signs of a takeover have been there for a while - AB Traction's holdings (they have form on such takeovers in the past), withholding of dividend etc. Well done all holders. GLA

Larry - I hope they haven't forward sold those shares. In essence we still have c50% dilution still to come which, amazingly, would take us back down to c0.03. I have to say the rise has come across as one of the biggest Ps and Ds of certainly my tenure in share dealing. I will say though that I did trade and recovered some of my losses here. Perhaps I somewhat stupidly kept my original holding. GLA

Well, we've had worse days here. GLA and hope suffering LTHs have made a little back on paper.

aerial - my response was very tongue in cheek.....what's another few years here ?!!

aerial - "what's another few years" - LOL!

Always interesting to read some of the posts on this board. We have 1.6billion shares currently in issue and another 2.5billion to be issued - that's, what, a 60% ish dilution? That will give us c£500k which is probably enough to keep the lights on for 9months max. We're losing c£75k per month operationally and the BoD continue to give us the jam tomorrow line that soon we'll be profitable. I'd like to know where the good news is in that for long term holders??

noadvice4u - I would take Pi's advice if I were you. Your RNS snippets are the best of a bad bunch of statements - the "big ticket" items in the April RNS for me were these classics "Due to constrained working capital, the supply of consumables such as fuel and magnetite have been adversely affected, resulting in falling production rates over Q1 2019. In addition, access to the northern mining area and 24 hour operation has been put on hold until capital is available to open up this additional supply of coal. Until additional capital can be applied to these and other parts of the Project, management do not expect production to increase from current levels." and "Due to the shortfall in the proceeds of the Open Offer the Company will need to raise additional capital in the near term in order to meet its Project and corporate commitments and is currently exploring several options at both a Company and Project level. A further update regarding financing will be made as soon as practicable." Like I said, there is indeed a few positive technical charting bits and bobs at the minute, but you need to really understand the utter mess we are in both operationally and financially to go along with the bullish chart. It's been jam tomorrow here for a long time.....GLA

noadvice - I don't disagree with your chart technicals, but for me personally that is simply one piece of the jigsaw. Why would anyone invest in our company as things stand - we're losing money each month on our operations, we have a CLF with Lind that gives them first call on our main asset if we default etc etc - unless you're after a risky trade, Edl makes no sense at all and the 1 April RNS was the icing on the cake. If I wasn't locked in, I wouldn't touch it with a barge pole and given our current share price, the rest of the market shares those sentiments. GLA

noadvice - we're going to need one heck of a sustained trend reversal here. We were at 0.15 at the start of January - that's a c80% fall in just three months - if anyone is still shorting this given we are so near to our nominal value needs their head reading as they should be long gone. The charts may be one thing (I agree with your reading BTW) but the company fundamentals is something completely different. I'm not sure it's a rabbit Rufus needs to pull out of the hat, more like a whole colony of the things. GLA

jzd - I don't recall that - there are definitely covenants around Lind not holding more than 29.9% and also not short selling during the lifetime of the CLF. Is there something saying they must hold the shares? I didn't think Lind were that naïve.....! GLA

aerial - I personally don't read it like that - it's not the trading that gets people's back up - it's the clear ramping and lack of understanding of the company's fundamentals. I'm sure there are one or two of us on here that might have taken a few yesterday and sold them this morning, but that doesn't help the 99% loss we have on our core holding. GLA