RE: +12.50%28 Oct 2020 13:08
I'm happy to confirm I'm long on this, I've been here a long time!!!!
Ok so I'll give you a clear answer in a vain bid that you give a clear honest answer, rather than just banging out the same positive tosh which we can all see through.
BoD changes.
I did not like what Rufus did to this company. I personally didn't believe he had the right skillset for the role he was in but he took the salary month after month. Rufus going is, in my opinion, a very very good thing. Alistair started well, but announcing a mine hand over, then saying there was a 60 day hand over people was wrong. Tell us the facts upfront, not suggest something and tell us later there's essentially a get out of jail card. With regards Nick Von Schirnding, I think that is very positive addition.
Operational changes
It had to happen, Rufus had spent a small fortune trying to get output up and failed. He paid to have the mine lit up 24 hours a day!!!! Essentially in my opinion Rufus failed to increase output to any acceptable level. I would say that the published output figures show that clearly. So we have bought a partner in to run the mine but the big question is how much do we get per ton for being a backseat driver as it were.
Priced to fail
I've answered this one but will say that all you need to do is look at the share price when Rufus join the company and the share price on Rufus left the company and all that went on while refills was in charge ie consolidation. Ultimately he added no shareholder value to edenville and simply had to go. The market literally has no confidence in edenville at the moment, the old saying about buy on rumour sell on fact just does not apply here People have been burnt so many times. The market needs facts and figures for it's prepared to move this North in a sustained way.we will have spikes for the price will drop down and has dropped down since the last spike. Essentially edenville needs the basics in place.
175 MN tonnes of coal
Yes you are right 175 million tonnes of coal, but surely you're not going to say that every last nugget of coal is usable? Every last nugget of coal can be extracted economically?
Demand for coal
Yes there is demand but I've never said huge demand and I'll stand by by that statement.
No allowance on my own questions because you appeared being incapable of providing an objective answer to the questions
Mine hand over
This is one of the two fundamental things we need to get right. It needs to happen before the 1st of November and certainly before the rainy season arrives.
$580,000 by the end of November
This is the second thing that needs to be put right. We will not go anywhere if the market is unsure if we have the financial viability to be around in 2 months 3-months 6 months a year.
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