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I believe they want to prove they can generate 3,000 tonnes a month (over a number of months) and sign as many contracts as they can.

At the point when the handover is reviewed Edenville will be hoping Edenville's mining operations is very attractive. That's why I think there's now a big push for coal contracts. More contracts more likely they are to get to 3000 tonnes of coal. At that point a decision will be made at the review

1) they will hand over the mine to ITIL, keep the mining licence and take a percentage.

2) sell the entire setup lock stock and barrel (or bucket of coal!!)

They are looking at acquisitions in the RNS today they stated that. I'm guessing it will depend on what ££ they need for acquisition and/or how much they can get for Edenville. There is of course the possibility of another placing for the acquisition.

Pi,

Because they don't want to be in coal!!! They have implicitly stated this in the NvS interview. Coal is not the future for many reasons. Even in today's RNS they said "On the acquisition front we have recently spent time with our new strategic investor, Tony Buckingham, and we look forward to exploring opportunities with him and his team, alongside those provided by other parties."

I've said it before I'll say it again, they are looking to buy a small company with extraction licences in place and reverse into them, change the name and we will be off. The RNS states "On the acquisition front we"

All the old RNSs can be quoted, but have you seen a reason why anyone should believe they have changed their style of Comms? They suggest things may happen and usually have a caveat in there.

That's 4000 tonnes in total not 4000 tonnes a month. 4000 tonnes over what time scales, 4000 over 4 months or 2 months? I'm sure ITIL will want proof Edenville can hit 3000 tones a month for a number of months not just one month. I bet that comes out at some point, that they say they can get 3000 now they have to do it for X months.

I'm sure we still don't know the whole story

Aerial, I'm sure this will come good, but it will only come good when Edenville tell us what they have actually done rather than keep telling us what they plan to do. I'm not sure how many people still believe them when they roll out projected output figures. Clearly the market response has been limited and I'm expecting the results tomorrow which I feel today's RNS was meant to warm the market to the results which my own view is that they won't read very well, especially after the year Edenville have had.

We now have to sit and wait for Edenville to go get to 3,000 tonnes a month before ITIL review whether they take over.

Rather than what date the next RNS comes out why don't you guess the share price at 0830 on the day the results are finally released?

6th Mar 2017
Letters of intent and expressions of interest have been received from several parties who intend to purchase coal from the operating mine on a long-term basis….the Company is conservatively planning for firm orders that will result in initial sales in the region of 5,000 to 8,000 tonnes per month
19th May 2017
signed a Letter of Intent with a customer to supply coal. Initially this is expected to be 1,000 tonnes per month rising to a potential 7,000 tonnes per month supply to this customer as the operation expands….In addition to the above, the Company is working on several other agreements that would provide significantly more additional sales.
12th Jul 2017
substantial interest has been shown from prospective purchasers of our coal. Detailed discussions have been held with several groups wishing to take delivery of washed coal once produced.
1st Aug 2017
currently processing orders for coal and limited deliveries of raw coal are scheduled to be dispatched to customers from the second week of August.
25th Aug 2017
In addition to the Company marketing the coal, we have an agent actively exploring new client possibilities in the region, including in Kenya, Rwanda and Uganda.
29th Aug 2017
has entered into a marketing agreement with a UK company with links to African energy and commodities trading. The Agent, which has been sourcing possible customers for Edenville’s coal, wishes its identity to remain confidential at this time for commercial reasons.
10th Oct 2017
recently started treating coal through its wash plant and once up to full production, currently anticipated to be in January 2018, and utilising the current plant and equipment levels, the Company anticipates production volumes of at least 10,000 tonnes of coal per month.
23rd Nov 2017
These initial, “test shipments”, currently totalling over 1,000 tonnes, are to parties that have expressed interest in placing long-term coal orders with the Company, subject to finalising pricing and quality, that in total could exceed the initial planned output of 10,000 tonnes per month, which is targeted to be achieved by the end of January 2018.
31st Jan 2018
remain in detailed discussions regarding contractual terms with several of these groups and others regarding potential long-term orders that total over 10,000 tonnes of coal per month.
27th Feb 2018
pleased to have commenced production on a new order for 4,000 tonnes of coal for use by a Tanzanian customer. 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)

Today's RNS joins a long list of jam tomorrow RNSs about output figures

I have a feeling today's RNS is supposed to be good news story before the results come out tomorrow.

Friday RNSs are historically a way for Edenville to bury bad news, you remember the 3.25pm placing RNS right?

So it seems, seems ITIL don't want to take on a stationary coal mine. They want Edenville to prove the mine can produce 3,000 tonnes a month before they even think about touching it.

And even then the status of the agreement will be reviewed, certainly sounds as if ITIL have their doubts. If they were confident it would say hand will take when 3,000 tonnes a month is produced. Remember, if ITIL ever do get to take it on there's a 60 day mobilisation period Edenville sprung on us in one RNS.

Can anyone confirm, but to my knowledge Edenville have never been actually able to produce 3,000 tonnes a month.

Mine hand over approaching 10 months delay, and now we have to wait for Edenville to produce a level of I believe they historically have never produced.

How do you think it will take them to go from 0 output to 3,000 tonnes a month?

"The status of the agreement with Infrastructure and Logistics Tanzania Limited ("ILTL"), as announced on 8 June 2020, will be reviewed once production rates at Rukwa exceed 3000 tonnes per month."

So now there is a condition on the ITIL hand over? Why did we not know about this? I still have my concerns over this handover.

"On the acquisition front we have recently spent time with our new strategic investor, Tony Buckingham, and we look forward to exploring opportunities with him and his team,"

So they haven't started exploring opportunities yet, but they are looking forward to.

Good news on the jam tomorrow coal contracts though

.

I guess the thought maybe that if they took shares they would then believe the price would go up, by taking cash they don't see the value

Does taking the cash over shares tell you anything????

Certainly a chewed tasteless bone, but, hey jam tomorrow folks.

Anyone still believe that jam will be here 'tomorrow'?

To be fair pretty much every operational update ends with a, we are looking forward to updating you as soon as possible statement, but here we sit 10 months down the line with Edenville probably not wanting to say covid is having a huge impact on operations for fear of annoying the Tz government.

So they were writing a RNS. Was it too much trouble to throw in another 20 to 30 words on the handover??? Or 30 words on the new strategic direction, or 20 words on coal deals, output etc etc?

Why, just tell me why Edenville think it's acceptable to not provide an operational update? If I understood the reason I would be half the way there to understanding wtf is going on with the BoD.

My opinion, now reinforced by this lack of update in today's RNS that something more is going on than just handing over the mine. The sooner they tell us the sooner the market can work through any bad news.

Today's RNS is either a missed opportunity or an attempt to only give us a briefest of updates followed by a, we'll give you more teaser.

....it is suggested by Edenville's BoD this will come good, and here we sit looking at sub 30p by Friday if we don't get any news before the end of the week.

And another week or so and another months worth of salary lands in their accounts.

12th Jan 2017
past several months Edenville has received significant formal interest from several companies for long-term coal supply..It is planned that initial mining will commence in Q1 2017.
6th Mar 2017
Letters of intent and expressions of interest have been received from several parties who intend to purchase coal from the operating mine on a long-term basis….the Company is conservatively planning for firm orders that will result in initial sales in the region of 5,000 to 8,000 tonnes per month
19th May 2017
signed a Letter of Intent with a customer to supply coal. Initially this is expected to be 1,000 tonnes per month rising to a potential 7,000 tonnes per month supply to this customer as the operation expands….In addition to the above, the Company is working on several other agreements that would provide significantly more additional sales.
12th Jul 2017
substantial interest has been shown from prospective purchasers of our coal. Detailed discussions have been held with several groups wishing to take delivery of washed coal once produced.
1st Aug 2017
currently processing orders for coal and limited deliveries of raw coal are scheduled to be dispatched to customers from the second week of August.
25th Aug 2017
In addition to the Company marketing the coal, we have an agent actively exploring new client possibilities in the region, including in Kenya, Rwanda and Uganda.
29th Aug 2017
has entered into a marketing agreement with a UK company with links to African energy and commodities trading. The Agent, which has been sourcing possible customers for Edenville’s coal, wishes its identity to remain confidential at this time for commercial reasons.
10th Oct 2017
recently started treating coal through its wash plant and once up to full production, currently anticipated to be in January 2018, and utilising the current plant and equipment levels, the Company anticipates production volumes of at least 10,000 tonnes of coal per month.
23rd Nov 2017
These initial, “test shipments”, currently totalling over 1,000 tonnes, are to parties that have expressed interest in placing long-term coal orders with the Company, subject to finalising pricing and quality, that in total could exceed the initial planned output of 10,000 tonnes per month, which is targeted to be achieved by the end of January 2018.
31st Jan 2018
remain in detailed discussions regarding contractual terms with several of these groups and others regarding potential long-term orders that total over 10,000 tonnes of coal per month.
27th Feb 2018
pleased to have commenced production on a new order for 4,000 tonnes of coal for use by a Tanzanian customer. 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)

So where are all these customers and output?

Following aerials logic from the other week when he was discussing tight spread suggests low risk, Edenville just got a lot riskier!!! 10% spread.

We need to know if hand over is still taking place.

Or if Edenville are looking to sell up and move on

Coal is not the future for many reasons, wasn't that NvS comment.

We need that news desperately now. Can see this dropping through 30p this week if the silence continues.

More shares dumped and posted after hours, let's see what the price does tomorrow.

Will the BoD be brave enough to communicate with the market?