Member Info for Sausageonstick

The general public will see the red -3.13%

The price is down, if you want to spin it and discuss the ask and bid you do that.

I'm talking about the red -3.13%.

...yesterday's rise wouldn't last long.

.....the silence. We still have no idea when the handover is expected or why it continues to be delayed for close to 7 months.

Come on Edenville wake up.

Sandal,

I bit late with that one but if there is a RNS it because people have been pushing Edenville to be provide a comprehensive update.

I sure Edenville will thank it's shareholders for their ongoing support when it does next RNS.

....?

£1200 for you car, the wife is certainly not going to be happy

Edenville might be cheaper by mid-week if they remain tight lipped.

Has Alistair final listened, are we about to get a RNS in the next couple of days?

...Alistair Muir can be contacted directly using LinkedIn. Alway be polite when contacting anyone, but hopefully Tim (who reads this board I believe) can add pressure on Edenville to RNS or if Alistair reads this he will know directly the sentiment felt or is people connect on LinkedIn they can express a view that Edenville need to provides at the very least a revised timescale for handover

Aerial

If that is the case, then all Edenville need to do is say that although they had hoped the hand over would happened in the last 6-months, Edenville now do not know when the handover will take place in the future.

But instead they try to pull the wool over our eyes, just not say anything and hope that investors will just accept, well this investor does not accept silence from a company that I've invested in.

I have my opinion that they did not provide a reason or a date for handover in the last Tanzania update RNS, but they bolted on a few lines that they thought we're good news in order to distract investors from the fact that they had not put a date for the handover or reason for not handing over.

Edenville need to issue a RNS this week giving a comprehensive update, no ifs, no buts. No hiding away from telling us the good and the bad facts.

If they run the mine like they run their communications, no wonder they are handing the mine over to ITIL!!!

THURSDAY NOVEMBER 26 2020
"A statement by the implementers, Tanzania Electric Supply Company (Tanesco) Managing Director Tito Mwinuka seen by The East African last week laid out preliminary priority areas before it fully takes off next year.

This includes ensuring gender balance in all job opportunities in the World Bank-funded project.

“The consulting services aiming to develop Gender Action Plan for Tanzania-Zambia Interconnector (TAZA) project"

Yep, looks like the project has started writing it's Gender Action Plan. Let's hope they find gender equality in all opportunities, then get on with actually building it soon.

Maybe not today, but I am hopeful Edenville will see sense and let the market know.

We need to know the following

Why is the hand over now delayed?
What are the revised timescales for hand over
Is the mobilisation period still 60 days, if not what is it?
What is the monthly burn rate? Are we still able to buy fuel!!!!
Are the new contract that have been talked about still on the table?
What is the current monthly production/output of saleable coal?
What is the total monthly tonnage of the currently signed contracts?
And....
Whatever happened to the Scottish engineer they employed?????

No one puts money in looking to loose it, but who knew the Tanzanian president would end up allegedly being flown out of the country for covid treatment.

On the 15th January they raised £900,000

- The company will pay Lind US$116,000 in cash, being 20% of the outstanding debt, by 31 January 2021; (£84,000)

- The remainder, being US$464,000, will be repaid in monthly instalments of US$50,000 starting from the end of April 2021; (£36,000)

Historically Edenville burn £100,000 a month.

£300,000 for January, February and March + £84,000 = 43% of placing spent.

April will see another £136,000 spent = 58% of placing.

In May will have spent 72% of the placing.

We are selling coal, but I doubt whether we are selling £100,000 a month to cover costs.

Why am I talking about April and May, remember to 60 day mobilisation. We have two months after handover for ITIL to get people and equipment on site. So if handover happens in April it will be June before ITIL are fully operational.

This is why it is so important to know the revised timescales for handover.

"Open to speculation", and we all know the market hates speculation especially negative speculation.

If covid is the reason, and I believe it is, that the hand over is delayed, and Tanzania are not vaccinating, we may have to wait for covid to wash through the country and rely on those who survive to have the antibodies that will ultimately suppress to covid in Tanzania. How long that will take is anyone's guess.

And that is what we need to know from Edenville, the revised timescales. Not this 'we are still working on it' diatribe, but a 'we now anticipate handover being' response. I know it's only a guess, but that is more than the market has right now.

We need that clarity, and we need it this week.

And if people still haven't been given visas, when they eventually do there is a 60 day mobilisation period. So it is handover+60 days before ITIL are in full control of output

"In addition, the Company has received new East African enquiries regarding power generation capacity and is continuing discussions with the Tanzanian Government regarding a future power plant development at Rukwa”

I'm afraid we can all see this was bolted on the RNS to take the edge off the bad news re the handover. Edenville have been talking for years about electricity, and they continue to do just that, talk. The RNS states exactly what is happening, they are talking, no more, no less.

I do believe covid wave 1 and the elections were valid reasons up to November 2020 (i.e. after elections). I think covid wave 2 or 3 has impacted January February proposed hand over and will continue to impact through March and April. I also think covid in UAE is impacting Edenville.

We may not be told why handover is delayed, we don't want to p1ss the Tanzanian government off, but we should be given a more comrehensive answer on the timescales that Edenville/ ITIL are now working too. I (we) will continue to nudge Edenville for a more informed RNS on timescales. Edenville can't stay silent forever. Good news or bad news my opinion is it needs to be aired and the sooner the better. If it's bad news we build again, if it's good news we'll probably never see these prices again.

"That coincided with a raft of senior politicians struggling with respiratory problems, including the finance minister, Philip Mpango. "

Still feel the Tanzania government is in some form/ degree of paralysis.

"Meanwhile, the government has warned local media of consequences for “spreading rumours” about the president’s whereabouts – with the latest speculation being that he’s now in India."

Edenville won't want to fall foul of the government. Can they revoke a mining licence?

Have a great weekend everyone, my jibberty jab jab tomorrow!!!