Member Info for GreenWolf

Browns - likewise.
Reasonably positive update this morning, albeit limited. Some definite green shoots in terms of production numbers.
Onwards and upwards? GLA

Esquimo - there probably is good demand for our coal but this is the big issue we face (4 May 2022 RNS) -

"The Company continues to see growing demand for its coal, at increasingly favourable prices, with a number of buyers keen to enter into offtake agreements upon confirmation of stable production and surety of supply from operations"

Upon confirmation of.....surety of supply. We can't give that the way things are.

So all this bluster from the BoD about new contacts, possible sale agreements etc etc is all, well, nonsense. If we cant guarantee supply, then interest is limited. And that leads to stockpiling of ROM or fines which then, when it rains, become too wet to wash.

"Have I missed anything?" - Thursday's positivity....!
Only joking Sausage, you know that.

No, you've covered off a fair few things there.

In just under 4months, our BoD has singlehandedly managed to halve our MCap. That is one heck of an achievement.

There are no other TR1s post 6th December except for Spreadex, Cantor and RAB.
So where is his holding post 6th December acquisition?
Where's John Story's TR1? Tony Buckingham?

I've said several times that there is no reason to have any confidence in so called major shareholders in these AIM stocks. None. And I wouldn't advocate buying, selling or holding based upon information which is sketchy at best.

Absolutely Bullish - I have my Edenville shares in different places. I've never quite got to a reporting threshold but I have been close on a couple of, potentially stupid, occasions in the past.

But I dont recall seeing TR1s against all these major shareholders. Maybe I missed them?

I was genuinely interested in your views given your background as a market maker at two brokers and a city man with forty plus years experience. It seems very cloak and daggers to me.

So why is it missing from our website Bullish? That's my question. I know it was in the RNS - I quoted that RNS in my post.

So why isn't it shown here.....
https://edenville-energy.com/share-structure/

The major shareholders list on the AIM Rule 26 part of our website suggests all are nominee holding accounts. They probably have next to no commercial exposure and it's predominantly on behalf of PIs.

And there's interesting discrepancies between our RNS of 6 Dec 2022 and the Shareholder list on the website. I've also found it quite difficult to reconcile our actual numbers with the annual CS01 filed at Companies House (last one in November) which has a list of all shareholders in section D2.

It's why I always take the talk of major shareholders in AIM Shares with a pinch of salt, because it can be very misleading.

Yesterday's RNS was really poor - look how the market has reacted.

No progress - none - and if anything we seem to be going backwards. It is truly shocking.

Talk of a second washer is pie in the sky - why do we need it until we get to 10,000t per month? Why has the BoD suddenly dropped the bombshell about anomalies between our operations and the requisite requirements in the licence?
Or are they simply warming us up for another placing......

I've been here a very long time, since the start. Yes, I may have sold out a few times and bought back in, but I've been part of that whole journey.

And at the moment it stinks.

A really, really poor RNS.
The second item about our mining licence concerns me - where has that massive risk just appeared from?

Perhaps there is life in the old dog yet. GLA

Placing more like - how long will that £400k from December last us? Four months? The £180k from Environ (if we ever get that paid back....) covers us for a couple of months tops. And then there's a few '000 of legal costs bolted into our P&L at the moment. I suspect cash is very, very tight.

We're due some sort of update on Upendo shortly
"Edenville is advised that the courts in Tanzania will address at a hearing in February 2023 the Company's claim for the reversal of the transfer of Upendo Group Ltd.'s 10% economic interest in the local joint venture, which holds the licences governing the Rukwa project, to a 10% direct holding on the principal production licence. A further update will be provided in due course. Based on legal advice received, the Company confirms that the claim is being robustly defended."

I default back to my views a few weeks back - the talk of a second wash plant is either coming from a BoD out of their depth or a BoD taking investors for fools.
GLA

Que sera, sera Sausage.
But what worries me more is the Bid price of that sell this morning - 6.30p?!!

Why talk about a second wash plant when we have been told the one we have will allow us to get to c10,000t per month? We can't even get to 2,000t. The current net profit suggests we would break even as operators at c4,000t per month. Why don't we just concentrate on getting to 5,000t before we even look at considering a second wash plant.

There are a lot of things starting to make no sense now. That worries me, as it either means the new BoD are out of their depth (again) or they are taking us for fools.

We actually need some honest statements from the BoD around what is really constraining our mining tonnage, because all we're getting is excuse after excuse after excuse. And they know it, as does the market. GLA

Sausage - we've all been telling ourselves that the next RNS would be a game changer for years.

There has to be an underlying problem with the mining that they simply aren't telling us. We have struggled to get to any level of economies of scale since 9th October 2017.

Perhaps there's a reason 270+ million tonnes of coal has simply been left in the ground since the 1920's and 30's.....

The fundamental issue for me is what is actually stopping them getting to upwards of 5,000t per month.

If you believe their talk and our RNSs, we have the equipment and resources in place to do it.

So, why can't we achieve it? We've changed BoD, management personnel etc etc etc and still pretty much the same.

What is actually going wrong, or is that a question too far that they really don't want to answer while they're taking their salaries?

It is continued smoke and mirrors - that's how it comes across - and that's why the market has little confidence in us as a company.

The EDL annual Confirmation Statement, that all Limited companies have to submit to Companies House, has a comprehensive list of all our shareholders.

T72 - yes, it's an update but it doesn't really suggest any significant progress. We've had RNSs like this for years. Disappointing, again.

Hopefully they have found something similar to the Cullinan diamond in amongst all our coal.....

I think a good start would be to get the Zambia - Tanzania interconnector built.....

In all honesty Esquimo, there is no funding for a CFPP and we would be 5yrs plus away even if we were at the point of kicking it off in earnest again. And then there is the small issue of how we continually feed a CFPP with enough coal to ensure it is on grid all the time. That is possibly a bigger challenge as things stand. I genuinely don't think there is much hope left on that avenue of our journey.

The key for me here was diversification, which seems to have stalled somewhat since the fund raise and a potentially very interesting associated RNS of 5 May 2021.

It's been another pretty wasted year, more shares issued, minimal real progress, contract mining on then off etc and a further decimated share price.

We were 25p a share exactly 12months ago....

All that aside, hope everyone has a restful Xmas. I was going to say "and a prosperous New Year" but not sure that's quite the right phrase for us share holders. GLA

Interesting RNS from Kibo, even more interesting that there is no move in the share price. Probably says a lot of what the market thinks of CPP MOUs actually turning into reality.
The other slight moot point is the need for large and consistent supplies of ready coal to feed a power plant. We have neither, yet. GLA