Member Info for jazbo

Irrespective of the low COS which could be holding back the farmout, the interest this week has moved the sp and who is to say how far this has still to go based on previous experience. Namibia has certainly moved up the popularity league in recent times.

Nice picture of Blackwoods

Fair point Brightspark but the company still have to get the coal production upped.

RNS 27.2.18 said
Since the Company Update announcement of 31 January 2018, Edenville has continued to supply coal on a commercial basis and has received further orders. The Company has now signed a one year contract with an East African industrial user for a minimum 2,000 tonnes per month with favourable payment terms.

In addition, the Company is pleased to have commenced production on a new order for 4,000 tonnes of coal for use by a Tanzanian customer. Â If the coal is deemed suitable for the customer's needs having utilised this initial order, the customer has requested another 60,000 tonnes over a period of 6 months (an average of 10,000 tonnes per month)
In parallel, trials are underway with a third customer, which if successful is expected to result in future orders on an ongoing basis.

RNS 14.8.18
From 25 May 2018 (the date of the previous update) to 9 August 2018 approximate numbers show that Edenville has processed 17,530 tonnes of Run of Mine ("ROM coal"), producing 5,259 tonnes of washed coal and 7,639 tonnes of fine coal. Of the 5,259 tonnes of washed coal, 3,231 tonnes have been sold and shipped.

The data room in Brazil has been open for 3 years since the Azilat farm in was terminated. News first in Namibia then a double whammy with a Brazilian farm in ! We can but dream.

Putting your quote into context-
Chairman's note in June 2018 said - The intention is to break even and achieve a cash flow positive position on the receipt of additional orders. Our target is a regularised 8,000 to 10,000 tonnes of production per month by the end of 2018 and although no guarantees can be given that our intended production target will be met in the desired timeframe, with the implementation of the plant upgrade, the Company's Directors believe this is achievable.

the trouble is with this management team it is always 1 step forward 2 steps back. T o say they have "cracked the code" they do seem to be very unlucky!

Processing plant The Company's wash plant and associated equipment is currently running at a throughput of 30 to 40 tonnes per hour, operating six days a week for 8 to 10 hours a day. Edenville is therefore in a position to process 8,000 to 10,000 tonnes of mined material per month. During the ramp up of operations higher than expected amounts of mudstone and fines were encountered, which reduced throughput in the processing plant. As a result, unit processing costs were marginally higher than management expected, however, this was offset by lower than expected unit mining costs. Subsequently the Company intends to install both a Lamella water treatment system and pre-screen technology to improve the overall efficiency of the plant. The Lamella water treatment system will remove mudstone and coal fines from the water, providing the plant with cleaner water and the pre-screen technology will pre-screen the mined material, removing coal fines before they reach the wash plant. Once implemented, hourly production rates should increase to 80 to 100 tonnes per hour, thereby bringing operational costs per tonne back in line with management expectations, in parallel with the plant reaching its full production capacity.

I think that is how most PIs read it and it is why they are left feeling mislead.

Stellar Energy Advisors have had recent success in recent Namibian farmouts for Tullow but I suspect GBP could be a little harder for them.

Like with BPC, when this moves, it should move fast. Not sure how soon that will be though. Will need to move more than this to cause suspicion of leaky news.

PIs are not too enamoured with Amerisur's bosses but at least they have assets churning out lots of oil and cash.

there must be a heck of a stockpile then

What info are they providing to the placement subscribers to get them to invest, whilst further diluting PIs

Be interesting to see if we get any nibbles on a farm in soon or whether it will drag on until the Tullow and Chariot drills this summer.

they can't even get the dates correct in the RNS

no. another foul up. retirement delayed again .

"We are less than a year away from the proposed start of mining" Won't the company need an Environmental Assessment before mining? How long will an EA take?

2A preliminary permitting study suggests that the project could be permitted with an Environmental Assessment (EA) rather than a lengthier Environmental Impact Statement (EIS). The time period from submission of a completed Plan of Operations to the receipt of all regulatory permits and consents is estimated at 9 months."

Surely with all our recent discussions with Bp, the issue of a farm in for Namibia must have been covered.