The gain was never going to last today9 Jun 2020 10:48
Did doesn't matter what they say they are going to do, the mine is shut.
And when it opens its the same washer crush that couldn't hit any if the previous targets in output, unless this other company are bringing their own washer crusher which I didn't read in the RNS.
They have signed many deals that just evaporate, wasn't there a marketing company that was supposed to be helping us? Sinohydro never gets mentioned, contracts that never get anywhere near filled although Edenville are very careful to say "up to" so delivering 0.5 tonnes satisfies that criteria.
We are expecting another billion+ shares to come to the market on Thursday from whence we will start a week of churning those shares. My opinion is this will get a lot cheaper before it makes a sustained rise, it looks like the money is covered, but my main worries are
The mine is shut, Alistair refuses to open it in a nation not on lock down. Are there alteria motives at play, are they using covid-19 as an excuse to shut for other reasons?
Even when open, it's the same washer crusher they have ace seemingly tinkered with endlessly that another company are going to come along and magically get thousands of tonnes of coal out of it. I'm still expecting an announcement that they will need a second washer crusher and we know how long it takes Edenville to find a washer crusher, to packet, to ship it and unpack, to build it, to tinker with it, to tinker with it, to tinker with it and then make it operational, a year wasn't it??
We signed agreements before and the ability of Edenville to complete these agreements is some what lacking, what makes this one any different?
Over to you Alistair, but with all the shares coming to market and no sign of the mine opening people might be buying these at nominal value before too long
I'm a realist, I say what I see, I don't get sucked in to jam tomorrow RNSs.