Member Info for Sausageonstick

Seany, I agree

Doesn't, I agree. No news then they come cap in hand with thinly veiled threats.

PI, you've got it, it's so obvious. Keep the news until the low offer price is set, then give them the news they want before offer closes.

I have to agree with whoever said it, if they can get this mine working properly fulfilling orders, why are they going out buying something else. Does a bit like they are looking for their next gravy train, buy a coalfield somewhere in Africa and repeat the same, taking money out all the time.

It has to be a NO from me

So I'm expecting some good news RNSs before the offer closes.

....unless they can tell me the current saleable output figures, rather than average them over the whole of 2018, I'll be voting NO.

I'm firmly of the opinion that news had been sparse so that the offer price is low. Issue a few positive RNSs following today's and get the price above 0.12p to make the offer look inviting.

Failed miserably as we can see through the offer, and see the thinly veiled back us or it's over approach they've adopted.

Rufus and Jeff are backed in a corner and are now reliant on the very people they have alienated to get this offer through.

I can't see any value in the offer. Can anyone see value in the offer? Open to bring convinced.

...we all know, based on published figures, an approximate amount you pull out this company month in month out. Unless you put some money in, I won't be buying in.

There you go Rufus / Jeff, thats what the market think of your offer, a stinker.

Why would I take up this offer....
1) when it's cheaper to buy on open market.
2) you refuse to tell the market saleable output figures
3) I have no idea if you are going to dilute further to pay back the Lund loan.
4) I have no idea if you can fulfill contractual coal contracts
5) Rufus and Jeff have continually failed to buy shares in Edenville, so why should I buy anymore?
6) Edenville have access to $2million via Lund, so go use that loan facility, that's what it designed for.

Could someone tell me why Rufus has come up with this 'offer' rather than use the $2million loan facility????

....when Rufus has done a placing in the past to his 'mates' it's been massively discounted. Now he's forced to go cap in hand because he doesn't have the authority to do another placing we get offered 0.12p. No discount. I imagine there will be done buys going through today at sub 0.12p.

Why would I take up this offer? When I can just buy the shares on the open market.

Take note Rufus and Jeff, you have taken a lot of money out of this company (another pay day tomorrow), the shares are there to be bought. It will be interesting, ney, defining, how much you invest in your company through this offer.

and as for "allow the Company to expand its coal mining operations in Tanzania and potentially seek other cash-flow generating, coal focused, opportunities in Africa", really, does anyone believe this when they say 'potentially', carrot dangling, jam tomorrow statement?? I don't, and I won't be taking up this awful offer.

Are we now at the historic low?

....the large chunky sells are indeed Lind forward selling the first loan repayment, which would thus be made in shares,
adding to dilution, then we probably have our answer in terms output figures and being able to fulfill the 8000 tonnes a month.

Why can't Rufus be honest with us / face the truth, and tell the market what the output figures are?

My email to Rufus and Tim has gone, asking for these figures to be published. Tim has stopped replying to my emails (again). It's up to you if you want to demand the output figures now, if you do ,you know the email addresses.

...if everything was hunky dory regarding the Lind financing why Edenville haven't issued a RNS wit the General Meeting details yet? There can't be that many days left between now and the 16th February, surely there's a minimum period of notice?

With the lack of output RNS and lack of General Meeting RNS, my suspicions are building.

* end of January 2019

There's no interest here because, in my opinion, Rufus has let shareholders down by not releasing saleable output figures that were due approx a month ago. What valid reason could there be for not releasing figures, either they have reached the 8000 tonnes a month needed to fulfill orders or they haven't. It's pretty binary to me. 8000 tonnes of saleable output, yes or no. But Rufus fails to release such data, the only natural conclusion is that they have missed this target. Which means they don't have the revenue to pay the first loan installment in cash, which has the knock on effect of dilution to pay the loan installment.

Anyone buying in at the moment, is at risk of having their holding diluted within weeks.

The only thing to shift this north and keep it north is 8000 tonnes of saleable output and/ or positive Tender news.

The tender news is out of the hands of Rufus, the coal import ban was out of Rufus control. The World Bank funding was out of Rufus's control, the location of the transmission line was out of Rufus's control. What is in Rufus's power is to increase saleable output, and the assumption is that Edenville missed its target at the end of 2018. We await news Thursday or Friday to see if preprocessor is actually adding benefit.

We have contracts, lots of good news from outside Edenville, but Rufus had one job to do, output, and he continues to fail to let the market know if he's achieved that one job.

My confidence in Rufus is zero, I think Edenville will succeed but more because Tanzania is desperate for electricity rather than Rufus's ability to move this forward. If anyone wishes to convince me of Rufus's ability otherwise please post, but when Rufus fails to achieve a 2017 output target, shifts it to end of 2018, and still does not disclose output as we approach end of 2019, then my only conclusion is that he's not the right geologist to move this business forward.

Any thoughts?

...re Nomad. Hopefully the same RNS will confirm preprocessor now FULLY functional. No more just one more thing to do

Over to you Rufus to deliver.

How much lower do you think it's going??!?!?!

......that Rufus treats this with such contempt. Why why why the lack of output figures?

Still no General Meeting info.
Still no saleable output figures which are now approaching a month over due (they were due at the end of 2018).
I'm expecting a RNS by close of market on Friday regarding the preprocessor being FULLY functional . Rufus set the expectation of the end of January, so he needs to be held accountable.

As said before output figures than can fulfill contracts or positive tender news are the only things to shift price north in my opinion.

On the RNS !!!!

Wow, just looked at the trades, a lot of red today. Some people are nervous

Has Rufus led us to a new all time low share price?