Member Info for Sausageonstick

The timescales that output us measured over has changed, sometimes quarterly then an annual figure given. All probably true, but very difficult to compare apples with apples, or output with output if the timescales change.

A lot of things haven't added up for me for a long time, and I'm still flabbergasted that only when the share price hit nominal value did Rufus decide to take shares instead of cash for salary.

Rufus mentioned early June

The next RNS will be the results, in my opinion.

....be the full results?

It's not 1p because there's very little trust in the BoD. They heavily suggested outcomes over the years that haven't happened, principally 10,000 tonnes a month output.

We are averaging 1,100 tonnes a month if my memory serves me right. That's a long way to 10,000 tonnes. Now their sedition of 10,000 will if course be different to ours. They will spin in, they will redefine it, but some how based on experience 10,000 tonnes a month will be world's away from what we think it should be.

I think it should be 10,000 tonnes of washed saleable coal to meet the 8,000 contractual orders, but I'm pretty sure they will include the fines as output

They've given themselves a year, a years worth of salary, to hit 10,000 tonnes a month. Output isn't going to change tomorrow or next week.

Time and time again, year after year, people put pressure on them to take shares instead of salary, they resisted, told us they couldn't because they were negotiating over coal deal, and yes I still have that email from Jeff. Then when the share price hits nominal value they 'cave in' and take shares for salary, can you see where I'm coming from?

....and all was ok. I think there's a bit of a drop to go, but I'd say there's a bounce coming early-ish next week

Why will Monday be interesting?

Nothing has changed. I've said time and time again the strip away the jam tomorrow and look at the facts. They raised money, diluted.

They have promised for years, and I mean years plural, to get to 10,000 tonnes, and now they have given themselves another YEAR to do it. Don't expect 10,000 tonnes a month to be announced any time soon, why would they, they have money for another year's salary, they've just given themselves shares @0.02p and the sit on 400% 'profit' already.

They worked it down to 0.02p, people screamed take shares for salary, so they did then pulled of a funding and massive dilution. And a massive bounce, and they will say they did exactly what we asked of them.

But still, work it out, nothing has changed other than funding for salary and dilution.

You've given shares at 0.02p, how long before you sell out? Tempting eh? 0.08p, four times what you are owed, but you know if you sell you'll be slagged off for losing faith in the company.

Quandary?

RNS with all the jam tomorrow in it;

all upgrades are expected to be completed by the end of June 2019.

Company's Directors believe this investment should enhance the future performance of the Project.

 the Company intends to open up this new pit and commence extracting coal from it before the end of Q3 2019. 

Here's the facts of the matter.....
In recent times Edenville has only achieved modest levels of production and as such the inventory of washed coal has been exhausted. 

As the stockpiles build following the restart of operations.

...have to strip away the conjecture and look at the facts.

They are raising money.
Output is about 1,100 tonnes a month
Cannot fulfill contractual obligations
No northern coal pit open
No 24 hour mining
Reduced fuel purchased

This is what we have been told, so until a RNS tells us differently, this is what is true.

There was nothing to substantiate the dramatic rise, a classic pump and dump

Nothing has changed, Rufus had one job to do, spend the £5m raised to get output up to meet contractual obligations. He has do far failed.

....very uncomfortable come the market opening.

....only needs to drop 50% and we are back where we started!!!

....the massive rise was underpinned by no more than a RNS on funding. Rufus has failed to increase output to meet contractual obligations after raising over £5m, it will be interesting to see what he can do with this money

The next output figures have to be 10,000 a month, they have to be enough to fulfill the contractual obligations.

Time will tell if Rufus has spent our money wisely

500,000,000 shares come to the market at 0.02p, current price 0.08p, 300% profit, who wouldn't dump at 300% profit?

...have to issue a RNS if it's up more than 50%? i.e. yesterday's 400%