Just received this email BUT...9 Apr 2018 12:31
Dear John
Good to hear from you again.
Edenville have obviously been releasing very regular updates through RNS, the last being on 27 February. We are conscious that shareholders like to see regular updates and further updates via RNS will be provided as appropriate.
As detailed in the 27 February RNS Edenville is supplying coal at commercial rates to a number of customers. Whilst the majority of this is not under long term contracts coal it is being sold at commercial market rates, similar to those rates we expect for longer-term deals. This announcement also detailed the one year contract for 2,000 tonnes per month and other large single orders.
I would hope that the following paragraph from the 27 February announcement gives a good summary with regard to where the company is with coal production, which remains the case.
With significant demand for the Company's coal and long-term order indications in excess of the amount of coal that the Company can supply in the short to medium-term, the focus is on entering into long-term contracts with those groups that can provide attractive payment terms, maximising the price per tonne and minimising credit terms. Whilst these longer-term contractual negotiations continue, with the goal of ensuring the best long-term economic outcome for the Company, Edenville will continue to supply and be paid commercial rates for significant bulk and trial orders. For the avoidance of doubt the coal subject to these current individual bulk and trial orders is being supplied at a similar price per tonne as is envisaged for longer-term contracts.
Please do not hesitate to contact me directly should you have any further questions.
Best regards
Tim
Tim Metcalfe
IFC Advisory
Managing Director
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