Member Info for Sausageonstick

Come on pawn, did Edenville spent that money between 1st Jan 2022 and end of June 2022 on upgrading the mine, so simple. Is that what you are saying?

Pawn, I'll give you a clue

It's either

Yes

Or

No

You swerved the question Pawn

The upgrades and machines cost money Pawn, they are not free.

I've answered your question now answer my question

Just to be clear, are you saying that between January and June 2022 Edenville spent £714,373 on the Rukwa coal mine to improve production at the mine?

Pawn, I'll give you a clue

It's either

Yes

Or

No

Pawn you do make me larf.

Just to be clear, are you saying that between January and June 2022 Edenville spent £714,373 on the Rules coal mine to improve production at the mine?

End of year account Pawn, as stated by Edenville, not me not we not you.

With cash resources as at 31 December 2021 of £1,229,801

27 June 2022 the Company had cash balances of approximately £515,428.

So let's do the simple maths Pawn

£1,229,801 - £515,428 = £714,373

31 December to the 27 June is circa 6 months, give or take 3 days

So £714,373 divided by 6 = £119,062.16

So their burn rate, based on their own published figures is on average £119,062.16 a MONTH in the six months January - June 2022 inclusive.

FACT

no bull s h I t made up figures, no opinions, no jam tomorrow, just cold hard FACTS Pawn.

What ever they are spending it on wages, toffee apples or whatever they spent £714,373 in 6 months Pawn mate.

Any comments on that or are you just going to swerve it?

Bull,

You are looking the wrong question.

Taking on a new company you don't ask how do I get my warrants, you ask yourself what do I do to get this company on a stable footing from which we build success from and thus out of that comes the warrants.

Raising funds is all part of getting them on that stable footing. Having enough money in the bank to continue until profitability. My own belief, not we but my own, is that they will dilute to get funds in to pay for what they need to do to get themselves into a position to achieve the out figures, that may include another washer crusher as the current one is a single point of failure.

Stable footing then success then warrants, but one step at a time

Pawn,

If you read the RNSs as I do, then you and I and thus we would know that "Edenville has yet to enjoy any material benefit from the contract mining arrangement due to operational issues"

I'll say it again, we know revenue is minimal (or at least those of us that read the RNSs)

Lol mate, they could have a wash plant capacity of 100,000 tonnes a month, if they can't dig it, shift it process it and sell it at a price that covers costs the wash plant capacity is meaningless.

I hear what everyone is wishing for, but the reality is very much different from the dreams in your head right now.

From what we know revenue is minimal at the moment, and with the lack of output figures in today's corporate update suggests output is still below a level they are happy to publicly make available.

Please correct me if I'm wrong but wasn't their burn rate around £100k a month. Someone worked it out from the accounts.

They have now mobilised a team to sort this out, so I'm guessing their burn rate just went up.

I'm a realist, you know that, they are burning through Tony's money at a rapid rate with minimal revenue. Tony's money can't last forever, either a placing is needed for they find the end of a rainbow.

I speak for myself thank you, every one has a voice on here and a right to post what they want.

I don't see any positive facts in today's RNS, just further jam tomorrow. I would have liked to see the true output figures good or bad.

Bull,

Tell us how much is left in the bank?

They had cash, tell me again their monthly burn rate, and now they are paying for an increased on site team to mobilise.

The money will run out soon.

The bigger question is when they raise,what will be the price they raise at? 10-12p?

Market capitalisation when they deliver, that will depends on how many rounds of dilution they have to do to get us to that position.

I see dilution coming in the next few months, to us money can't last forever and with them not did losing output figures u don't believe we are getting much, if any, revenue currently.

Let's see if anyone takes their 15% + profit later

Still think funding will be needed to buy a second washer crusher

Bull

If being on honest is them sharing their hopes and dreams then the RNS was very honest.

Why no output figures? They could at least say, here are the output figures, this is our baseline from month 1 after take over, we grow from here. But no, they just kept quiet. So to me being honest is telling the facts, good or bad, not sharing ones hopes and dreams.

Bull

Ask yourself why they didn't use this RNS to give us current output figures after a month of being in care. My opinion is output figures are on the floor currently so massive challenge to get them anywhere near what they have had requests for (not contracts)

I've said it before, it is my view that they will need a second washer crusher to get anywhere near where they want output to be. Once they accept what is glaring the obvious to a lot of us then I think they will move forward quickly. However identifying a washer crusher shipping it moving it building it settling it tweaking it will take the best part of 9 months to achieve.

Lap

Don't mistake realism for bitterness.

When you've been in Edenville over 10 years as I have, you will understand the need to keep feet on the ground until facts are known