Member Info for pawnsacrifice

Take it the crypto venture merely needs to break even til the pipelines sorted? Just a way of using the gas due to the no flaring policy so a door opener for the oil production?

I can understand it too just think they should knock the co. for the right reasons is all.
This co. decided early last year to give up on the coal play, bring in new investors with the May raise and look for other plays whilst farming the coal play out being happy just not making a loss on ops.
That now shown to be stupid plan (imho) seems to have changed and they want to earn from the play themselves again in which case holders may make some gains down the road.
Have already emailed to ask them if they're serious with the coal now or just messing around whilst waiting for something better to arrive.
Will continue to hold on that basis unless of course I get an email suggesting they're still not committed to the mine in which case I'll sell and look for a more focused co.

You don't seem to have any understanding of this co. at all jezzac, neither does sausage.
Firstly I didn't say having a placing was a good thing i said the fact they haven't actually had a placing for 13 months was a positive.
A placing which by the way they explained to you and sausage in very small and simple words that wasn't for the development of the coal mine.
Way back 13 months ago when they had their last placing they stipulated that it was for new projects they were hoping to find in the lithium/copper/anything but coal sector as they thought coal was over.
They'd lost interest in the mine and from recent RNS's they've only come back to wanting to operate the mine because of the quite humungous price rise.
Will let you go looking for the video, 1. don't see why I should do your research for you and 2 It would be good for you to research/learn more and post less imo.

Did anything ever come from the visit to their gold play during April? Pretty sure they said they had plenty of interest beforehand.

Wouldn't exactly call it steady. Coal was bottoming out in a bowl shape for several years as you've more or less said then after crawling its way back to $100 last May took off and went almost stratospheric.
Can be seen on the 5yr chart. Must have been horrible trying to invest during the $50-$60 period you do have my sympathies and can understand you all being a little ****ed
https://tradingeconomics.com/commodity/coal
Have noticed after your placings comment they haven't had one since the 25p offer last May as the price hit $100 which I've taken as a positive given the views of the board here.

Agreed, though the video would've been been better with a bit of dancing.

re calorific values am time constrained but you are correct they have reported on calorific value historically. I've found reports between 5300-6000+ online. ie:

We are very pleased to report that coal quality, in terms of both calorific value and ash content, is
exceeding management’s initial expectations when mining commenced. Both the raw mined and
processed coal has been extensively tested at our on-site laboratory and has returned values that
meet our customer’s requirements.
Recent results from our on-site laboratory have given encouraging calorific values for Mkomolo,
including 6,734 GCV (Gross Calorific Value in Kcal/Kg) on an air-dried basis, correlating with previous
results from December 2017. Additionally, and of particular note, is the energy value contained in our
raw coal fines material (material generally less than one sixteenth of an inch in size), recently testing
at 4,753 GCV on an as received basis"

Still say all these 2019 investors and before were flogging a dead horse. Trying to invest in a coal miner when they could only get $7/ton as posted by markettimer below. How was that ever going to work out well?
To be honest think a real market timer would buy for the potential bounce once the price of the commodity has gone through the roof not whilst it was on the floor.

I don't expect them to get $400/ton. Have already read that S.A won't pay the very high prices that are around. However I also think your post proves my point.Whilst there was a glut no one wanted their coal and they couldn't make a profit no matter what they did.
Would be good to have confirmation of what they can sell at today but things have changed considerably re their commodity enough to even effect EDl's prospects imo.

"The price of coal as been rising steadily for the last few years "

Not what the chart shows. Coal didn't break $100 til May last year then jumped to $400 in doublequick time?
https://tradingeconomics.com/commodity/coal

Not been in that long at all.Months only. Bacvk in the days you're pulling up when the price of coal was a quarter of the price it was today and production unprofitable I wasn't interested.

"I don't understand why we are seemingly unable to capitalise on it."

With respect you don't know that. All that's known right now is they couldn't make a profitable/successful business before the coal price rose so they farmed the responsibility out to a contractor to save funds.
The coal price has risen considerably and they have now taken control back and rebuilt their (small) fleet ready to sell themselves.
Agree they're not out the woods reputation wise but am still willing to give them chance to sell in this new environment.
Will happily join the knocking if they still fail.

Any fool can knock a co. thats been selling a commodity which has only recently risen through the roof too.
https://tradingeconomics.com/commodity/coal
The macro has changed considerably for this one. Can see why they wanted production back.

Well get out there and earn us money then. lol
Good to hear they can sell all they can produce though.
The only way is up from here.

Well no bad news and $116 oil. See where these go today.

IGAS have an incredible amount of tax losses though..

"Ring fence tax losses at 31 December 2021 were £268 million."

Not sure how it works for them but from this yrs finals they stated..
"A tax credit of £6.2 million was recognised mainly due to the increase in recognition of deferred tax asset relating to ring-fence tax losses as a result of a significantly improved oil price environment (2020: a tax credit of £2.0 million mainly due to the adjustment to losses brought forward due to Ring Fence Expenditure Supplement claims)."
https://www.igasplc.com/media/48584/IGas-2021-FY-Results-RNS-Master.pdf

So unsure how or when any windfall tax will be applied to them (esp with the hedge)

T'is quite the plunge.Google isn't bringing up anything wildly negative on fracking. Perhaps the new windfall tax?

Watched all these before the police action began would recommend others do the same for some balance on the situation...
This from the BBC..
hTTps://clip-share.net/video/5SBo0akeDMY/neo-nazi-threat-in-new-ukraine-newsnight.html

This ones Time, before the invasion so they could be more honest about the Nazification of Ukraine.
hTTps://www.youtube.com/watch?v=fy910FG46C4

From Oliver Stone-very hard hitting.
UKRAINE ON FIRE.
hTTps://www.*****ute.com/video/l7n6nBoJ6nMS/

The Russians won't stopping backing Putin pasajerodeltoro nor will a great proportion of the Ukrainians who were being slaughtered just for speaking Russian.
may not get an interview on the corrupt western msm for saying so but the Russians are not just fighting off Nazi's in the form of the Azor Battalion but Bolsheviks too in the form of the the AshkeNAZI jewish president of Ukraine.
Its the Bolsheviks who are the biggest danger. They holocausted 70 Million Russians last century and would do so again at the turn of a hat.
They're actually our enemy too but they own our banks, politicians and all our Western media outlets so not only do they have us by the danglies already there's fat chance of the gullible public finding out about ti til its all too late.
Bad times coming for all white westerners esp Christians imo whether Russian or European but hey ho pip and dandy and all that.

Nice to see the lift.
There's a handy little gap from mid April time between 21.7 and 23.5p. On target to attempt the closing of same if this move continues.

Maybe they'll buy chelsea from the next lift?