Member Info for Sausageonstick

I agree islandgirl, Rufus has had millions ££, ship machinery across the ocean, suggested good things and now we sit

Producing on average 1,100 tonnes of washed coal a month.
Share price bouncing around nominal value
Restricted purchasing of fuel
Reduction in overburden being cleared

And to top it off, apparently it's because us shareholders didn't take up the oo!!! What about the £5,300,000 you raised since the last consolidation Rufus?????

And all you could do was tell us how bad it I'd on April Fools Day

Kibo are a small mining type company operating in Tanzania, with a low share price. They don't have a mining licence. They can get funding, surely Rufus can sort something out before the money runs out here at Edenville.

....funding, surely Rufus can extract his finger and do the same.

......quiet until the placing/ consolidation takes place or RNS put it to bed. All the time there is a threat of placing this isn't going anywhere

...years I'm afraid. I've banged on about it but still can't get my head around where £5.3m has gone since the last consolidation. And having spent millions of £££ the best Rufus can do is 1,100 tonnes of washed coal a month on average.

Still can't belive after £5.3m raised, Rufus has the audacity to say because investors didn't support the oo they reduced the purchase of fuel and removal of overburden!!!!

Still feel we will get an RNS before the market closes for 4 days

The only way out I'd to consolidate, then place

....is going to be interesting. TR1? Will today's sudden interest to continued?

..... Rufus releases a RNS on Thursday, just as the market closes for 4 days??!!!!

.....can't be far off if Edenville is to survive. Even as close as 3.25pm today as history has shown, Rufus isn't shy of handing out bad news just before the market closes. With this in mind is anyone expecting a RNS on Maundy Thursday afternoon, just as the markets close for 4 days? He also issued a RNS with no time specific information, such as a contract just signed, but he issued a general update RNS on April Fools Day. Still feel that was a massive two fingers up from Rufus to all of us trying to hold him to account.

Surely consolidation is coming down the track rapidly???

Could someone explain why someone is trading 25pence worth of shares????

If Rufus rinses and repeats, who would trust him when he does eventually move on??

..fuel they are buying the the placing / funding will come soon, maybe even as early as 3.25pm on a Friday afternoon!!!!

With Rufus anything could happen, it's just usually not very positive.

To think Rufus has 173 million tonnes of coal in a nation that banned the import of coal + £5.3m, and he can only produce 1,100 tonnes of washed coal a month

Just stop and think about that for a moment. What type of individual can clutch defeat from the jaws of victory in such style.

"The Convertible Agreement splits the potential funds to be received by the Company into two amounts: an initial US$750,000 loan (the "Initial Loan") that is to be provided immediately; and a further loan of up to US$2,000,000 that may be drawn with mutual agreement between the Company and Lind (the "Further Loan")."

Can they not draw down up to US$2M?

..... I'm pretty sure they have to do a placing. I still want to know where the £5.3 million has gone, with only 1,100 t/m being produced. Some serious questions need to be asked of Rufus.

Shocking after £5m since August 2016, Rufus can only produce around a 1100 tonnes a month, with 8000 tonnes a month contracts. Then he has the audacity so say because the open offer wasn't that we'll supported output has been limited.

Over £5m Rufus!!!!, It's got fuck all to do with failing to raise £600,000, what happened to the £5m and why didn't the £5m take us through to full production??

Rufus must never be permitted to draw another penny from this company

That should read 0.0003p

The story starts, 12Aug16 RNS, stating
The ordinary shares of £0.0002 have in recent months frequently been trading on AIM at a price close to their nominal value of £0.0002 per share. The issue of new shares by a company incorporated in England and Wales at a price below their nominal value is prohibited by the Companies Act 2006 and so in order to continue the mine and power plant development process by way of the issue of further equity, a capital reorganisation is recommended. In addition, the share price volumes at which the Existing Ordinary Shares are currently trading mean that a small value transaction can significantly affect the Company's market capitalisation. One or two relatively small trades in a day can result in increased share price volatility that does not reflect the Company's underlying performance. The Directors also note that, at 12,427,060,094, the number of Existing Ordinary Shares currently in issue is an excessive number for a company of the size of Edenville
Consolidated 30th August 2016.
Since then..
29Sept16 £500,000 total share 746,353,005
The net proceeds used for the advancement of commercial mining operations
3Nov16 £8,654
Exercise of warrants
20Feb17 £2,000,000
Acquire mining equipment for an initial planned production of up to 10,000 t/m
20Mar17 £60,000
29Mar17 £16,666.67
13Jun17 £88,334.65
19Jun17 £23,076.93
21Sept17 £118,390.42
5 Exercise of warrants
4Oct17 £1,250,000
The plan is for initial production of 5,000 tonnes of washed coal in October, ramping up to at least 10,000 tonnes per month by January 2018
27Apr18 £740,000
The Company is currently operating at up to 4,000 tonnes of coal per month and will used these funds to increase production rates in order to fulfil current and potential orders
6Nov18 US$750,000 (£573,540) Loan
15Feb19 Total share 1,648,261,562
Total raised £ 5,378,662.67

1Apr19 RNS
Between 1Jan19 and 26Mar19, Edenville processed approximately 17,760 tonnes of ROM coal, producing approximately 3,116 tonnes of washed coal to customer's specifications and approximately 7,992 tonnes of fine coal. In 2019 to date, approximately 3,510 tonnes of coal have been sold and shipped, the majority being washed coal. Share price 0.03p
2 years 8 months between 30Aug16 and 1Apr19, having raised over £5.3million, Rufus has been paid handsomely and again the share price has “been trading on AIM at a price close to their nominal value of £0.0002 per share.” Those words taken from the 12Aug16 RNS. £5.3 million and Rufus has overseen the production of, on average, 1,170 tonnes a month over the first 3 months of 2019.

Doesn't make good reading does it Rufus?