Member Info for john_z_doe

Hi Bannor,

I would just say there are a few points I do not like :-

The Initial Loan amount of US$750,000 is expected to be received by the Company in mid-November and any further drawdowns on the Further Loan will require mutual agreement;

· The Initial Loan and any amounts drawn under the Further Loan are secured against the assets of the Company by a debenture which ranks in priority over other debts which may exist within the Company. Further, subject to the Company obtaining in due course the necessary Share allotment authorities, the aggregate value of both the Initial Loan and the Further Loan will be secured against 36,000,000 ordinary shares of 0.02 pence each in the Company ("Shares"), which will be transferred or credited to the Company at the end of the term;

The Face Value of the Initial Loan is US$900,000. Commencing on 16 February 2019 the Company will repay the Face Value in monthly instalments equal to 1/20 of the Face Value (US$45,000) ("Repayments"). At the Company's option every month the Repayments may be made in: cash (at a 3% premium to Face Value); or in Shares (priced at 90% of the average five day VWAP chosen by Lind during the 20 days before issuance ("Repayment Price")); or a combination of both;

At its sole discretion the Company has the right to buy-back the entire outstanding Face Value at any time at a 5% premium. Should the Company exercise this right, Lind will have the option to convert, subject to the Company having the necessary Share allotment authorities, up to 25% of the Face Value into Shares at the lesser of the Repayment Price or 0.29p per Share ("Conversion Price") (being 130% of the 10 day VWAP immediately prior to the Company entering into the Convertible Agreement);

November - Short rains.

December - from mid month more rain

December last week - thundery periods of rain

The chance of wet days in Sumbawanga varies very significantly throughout the year. The wetter season lasts 5.1 months, from November 11 to April 16, with a greater than 37% chance of a given day being a wet day.

Bannor - DO the BOD have the authority to action the loan without a vote from the SH's? Does anyone know?

Or are they only doing this so that they can be paid their monthly salary?

Point taken..

But how much would EDL be worth to someone ?????

I am sure there would be a few bidders...

Aerial, I know Lind are party yo privilege info, BUT they see a miner with 173M tons of coal, so if EDL default they get the mine and resources.

Would you not have given the loan to EDL on the grounds stipulated????

Until the BOD can confirm VIA RNS that EDL can pay the $45K each month.

Aerial,

I am talking about the man himself and how he has very little interaction with the SH's and about his lack of managerial skills. I have said, he is not up to the job and EDL need someone who is NOT just a miner but an executive who knows their way round running a company and dealing with SH's.

BB/Aerial, I do not think RS is the person to take EDL any further. A dynamic person is required and that is something you cannot say about RS. EDL needs SOMEONE at the top who plays the SH's and keeps therm in the loop.

Aerial - I would say it was a buy, as the previous 300K trades were sells for less that the 2.3M.

Aerial - I would say it was a but, as the previous 300K trades were sells for less that the 2.3M.

and not even a wobble on the SP????

Aerial, I am sure ANYTHING would be nice, but at the back of my mind I keep thinking about the rainy seasons and the impact it had on the coal production.

I would like to know they learned their lesson the last time, BUT.....

Aerial, I would have said "there is much which has SUPPOSEDLY" come together BUT for some reason the EDL BOD are UNwilling to inform SH's about.

If you have 1,000,000 shares at 0.25p each worth in total of £2,500

After consolidation- say of 100 to 1 shares, you would end up with

10,000 shares at 25p each worth a total of £2,500 (STILL)

Down 0.005p???

BUYs outnumber SELLs by 4 : 1

MM just increasing the SPREAD...

P25 - RS NEEDS to prove that this is the correct strategy and that it will benefit EDL, not only in the long term but that EDL will be able to pay the $45K per month????

Also I still am of the opinion that the BoD need to show they are in it with the EDL share holders and give up there options and share holding to prove this.

As it has always been on the share holders who suffer, this time the Bod can help by supplying nearly 50% of the 100M shares Lind Partners are asking for.

I wonder who it was that put Atomicrain W A Y U P T H E R E ?

Institutions are the ones who buy large number of shares an push the price up.

No one looses on a consolidation, all that happens is you have x times less shares and the new share is worth X times more than the old share.

Morning LG.