Member Info for Sausageonstick

...sumising the thoughts.

1) Rufus didn't expect the price to drop as it has, so will need to pull some good news from somewhere to get the price back to an attractive level.

2) Rufus had an idea the price would fall, open offer not taken up fully, and someone gets a shed load of shares on the cheap at a discount to today's price.

I'm still concerned about the £200,000 or so being asked to go off and find something else to develop. How can we be sure it's not another 10 year plaything for Rufus, and associated salary?

My opinion is that there are games being played that will be financially beneficial to a lot of people, and not those of us invested right now.

Is this Rufus's swansong, the get out of jail card, the £200,000 they are asking to go and find something else in Africa. Why do I feel it another coalfield that will take another 10 years and $10,000,000 to develop, and all the time funding the geologists salary.

The coal ban in Tanzania fell into Rufus's lap.

What will save Rufus is if the positive Tender decision comes through, but again that is something that will fall into his lap.

His number 1 job, his focus, had to be getting output up. However, he doesn't announce the output level at the end of 2018, but instead announces figures averaged over the whole of 2018. We can all see through that one Rufus, please don't think we are stupid.

Having access to $2 million from Lind, why do an open offer?? I just can't get my head around it. Has anyone said yes to the offer?

Not voted yet

...RNS anyone?

....Rufus will announce something that gets the price above 0.12p either just before or just after the offer closes. We can all see what he's trying to do. Laughable but obvious.

Nope.

...had to change sentiment before the OO closes, but will it be RNS'd

.... Is open until mid February. Lots can be announced, but will it

Rufus needs to announce something that gets the price over 0.12p before the offer closes or I can see a rush to take it up

....a full update today in the bottom part of the RNS and we are down 20%.

Where do people see this going, lower as people dump? Or higher on the prospect of a take over?

......any company buying this will offer a chair on the Board to Rufus and Jeff, if the price is right.

If you take the 15,000 + 32,000 to get 47,000.

Average over 2018

To get 3,916 tonnes of output a month, nowhere near 10,000 a month that was supposed to be here by end of 2018.

RNS stated
"Between 1 January 2018 and 31 December 2018 Edenville processed approximately 75,000 tonnes of Run of Mine ("ROM") coal, producing approximately 15,000 tonnes of washed coal to customer's specifications and approximately 32,000 tonnes of fine coal. Approximately 14,000 tonnes of coal have been sold and shipped, the vast majority being washed coal."

Hence the 15,000 figure

They've averaged it over a full 12 months. So early on in the year they were likely to be producing next to nothing, by the end of the year hopefully higher output, but by averaging it and averaging it over a year it hides the detail. Another great trick that we've seen through.

Just tell us December 2018 output of saleable coal. How difficult can being honest be?

...how they feel now they know that we strip away the jam tomorrow and see the facts for what they are. Down 21%

Yep, he's taken enough out of the pot to put £30,000 back in today, easy done, just phone your broker Rufus.

We are at such a low share price any price change or spread will appear large.

I'm going to email Jeff too, and ask him to convince me to take up the offer. Should be an interesting reply, if he's man enough to respond.

Since January 2017 when Rufus first said Edenville were talking with potential customers the BoD have said they can't buy in because they are talking contracts. I have an email from Jeff saying this, but now surprise surprise they can buy in. Do I take it from that they are no longer in a closed period, I also note that having taken a salary for many years Rufus is putting £10,000, is that correct? Gesh, I've invested more than him!!!!!

Now they can buy, and the price so low why not stick another £10000 in Rufus and buy on the open market. After all you appear not to be in a closed period anymore.

...there were three 1 trades yesterday, we've had one RNS today, two more to follow?

My opinion is that they will now have to do / issue RNS that is so amazing it lifts the price above 0.12p before the offer closes, otherwise there will be nothing to convince people to take up the shares. As it stands 21% down, the open offer is looking like an unmitigated disaster.

Anyone taking up the open offer is now looking at an over 20% instant loss.