Member Info for Sausageonstick

....you think there will be more news. They've already updated.

Second loader adding 400 tonnes of washed tonnage.
Second excavator not bought and no idea when it will happen as decision on northern mining area out of Edenvilles control.
No mobile in pit lighting
Spares package not complete so if it breaks down can they get it back up and running?
Lamella water clarifier not in place
Pre-screening plant not in place.
I doubt they will enter into another coal supply contract knowing they cannot fulfill the contracted orders they already have.

What do you think they are going to update on?

The only update I'm looking for before Xmas is Rufus's resignation.

Interesting to know the Lind loan is bigger than the market cap of the whole company

The two contracts were announced in October

Aerial,

For me, today's decline is due to people seeing through yesterday RNS, and just seeing the delay and missed targets, again from Edenville. Very little progress since last update.

.....Jeff asking how low the share price has to go before he considers Rufus Shorts tenure as an abject failure?

I'm not allowed to post the reply, if I ever get one.

My opinion is the share price would bounce the moment the market is notified of Rufus's resignation.
Rufus is a geologist, we need someone with commercial clout to seal the deals.

....but people can see through the jam tomorrow of your RNSs, the 'its not working, it's not our fault, but we'll have it fixed in a few weeks, but we can guarantee it' approach. Your last RNS just told us things are delayed again, doesn't matter if things might be fixed in 2 or 3 week, possibly maybe, activities are delayed again and again.

Resign. Enough is enough.

....should Rufus makes a statement to the market either telling us why or saying he know no reason for drop?

I'm expecting a big sell to turn up soon

....cottoned on to Rufus's BS and stripped away the jam tomorrow from yesterdays RNS, and seen the facts, more delays and missed output targets (a target they hoped to achieve by the end of 2017, yes 2017, is missed again a year later whilst Rufus and the cling ons get paid every month)

I'm a realist, as I've said, and I say it how I see it. Until Rufus actually delivers on those activities that get Edenville to 10,000 tonnes a month, remembering Edenville have contracted orders of 9,000 tonnes a month.
So opening up the northern coal field, currently Rufus would love to open it up, but it's out off his hands #greatintentions
He has stated "Sign off of these is anticipated to be later this month, " So if this happens or doesn't happen I expect a RNS by the 31st December!!!
The lamella water widget thingy, first talked about being needed 11 months ago, "expected to be operational within the next two weeks." So whether it is or isn't shareholder expect a RNS by 31st December 2018!!!
Pre-screening plant, delayed because some external company/ people delayed it, with Rufus being the saviour by taking it in house. #greatintentions "and it is expected to be completed within the next 21 days" So output due to hit 10,000 by end of December 2018 and pre-screening in by the first week of January, so by the 10th January I'm expecting a RNS telling us the truth whether these two things have been achieved.

Advice to Rufus, strip away the jam, the BS, it's always someone else's fault and tell us the facts as they are today. So stop saying, in essence, Edenville stuffed up, it was someone else's fault but it will be alright in X weeks, because all that you are honestly saying is the technology installation date, deadline, target has been missed!!!

A day after Rufus gave an operational update the share price hits an historic all time low, what does that tell you about how well you are doing Rufus, what does it tell you about investors confidence in you? Please for the sake of 0.15p that is left in this share price, resign, or stop taking your salary until you deliver share price value. Take your salary as shares, cash them in each month and pay the bills, you get the same number of shares each month, if you add value, your salary goes up. If you get paid in shares I imagine you'll work a lot harder Rufus to increase the share price. Have a think about it over the Christmas break as another wedge of investors money lands in your account.

Currently down over 6% no buys coming in to support historic low. 0.12p here we come!!!!

Still can't believe it's taken 11 months to get a lamella water clarifier!!!!

...small sell by someone to start the day. Bizarre the frequency of these small sell trades and opening

As is publicly available, the spread is 28%!!!!

Close the spread, even drop the Ask, but make a market!!

....it has taken them around 11 months to get a lamella water clarifier to site and it's still not functioning!!!! First mentioned in the 31st Jan 2018 RNS. Unbelievable!!!

Strip away all the jam and see a lot is promised and not a lot delivered since September update, you can see why this is down, the real question has to be how the heck this is only down 3%. 1.5m shares dumped at 0.14p has to hurt whoever dumped them???

I'm expecting a RNS in first 10 days of 2019, they said 10,000 tonnes by end of 2017, then 10,000 by end of 2018. If they fail to do so two years in a row but have taken salary for the same period serious questions need to be asked of Jeff and Rufus.

Expect this to go lower in the days ahead

...and down we go!!!!

I can't see that they are producing enough to fulfill all the contracted orders.

It's a race against time now to get the technology in and working, up the output, sell it and have the money to pay the loan installment back in cash.

It really is squeaky bin time for Edenville regarding output levels.

...when Edenville use a list constructed by a shareholder as a template for a RNS.

You have to strip away the jam tomorrow that Rufus litters his RNSs with, so statements such as "expected to be operational within the next two weeks" and "expected to be completed within the next 21 days". You remember me saying about Rufus's arm out the car window implies he's turning right when in fact he's just just telling us his window is open. Well the facts of the RNS are as follows.

2nd loader adding just 400 tonnes of washed tonnes a month. FACT. What proportion are fines and how much is saleable isn't disclosed, Rufus hides these facts by saying 400 tonnes of washed tonnes.
There is no new mining area open. FACT.
Edenville don't know when this new mining area will be opened. FACT.
Mobile in pit lighting not operational. FACT.
General spares package not fully in place. FACT.
Lamella water clarifier not operational. FACT.
Pre-order screening plant not fully assembled. FACT.

The key sentence is "At present the Company has long-term contracts in place for 8,000 tonnes of washed coal per month and several additional regular monthly orders (totalling around 1,000 tonnes for a mix of washed and unwashed material). The site improvements and expansion outlined above are essential to fulfil this production" Essentially, in my opinion, they need the site improvements to fulfill the 9,000 tonnes a month orders they have. No site improvement, they can't fulfill all the contractual orders.

No indication is given about repaying the loan in cash or dilution.

What they have done is provide timescales to which investor should hold Rufus to,

Sign off of these is anticipated to be later this month (December 2018)
plant is expected to be operational within the next two weeks (December 2018)
Assembly is taking place on the feed hopper and conveyor and it is expected to be completed within the next 21 days (January 2019)

Strip away the jam tomorrow and all I read is either delayed or not yet happened. Edenville still need to increase production to fulfill orders and I'd agree with whoever posted it, they are nowhere near 10,000 tonnes a month by the end of 2018.

Back to 0.15p, we've seen how the market views Rufus's update already.

....carefully, if not craftily, written. Imagine Rufus was driving down the road, wound his window down, stuck his right arm straight out the window. Most people would think Rufus was telling us /indicating to turn right, but what Rufus is actually saying is, my window is open. And that's the problem with Edenville's RNSs, they imply a lot of good things but you have to strip them back to the facts, and not imply anything. Don't extrapolate figures. If they say output goes from 25, 50, 75, don't extrapolate next month will be 100.

Whenever it comes, strip out the jam tomorrow from the RNS

....have a list of 'activities' that are now well overdue for an update. It's now 17 days until the end of the year, Rufus stated over a year ago

Thu, 23rd Nov 2017 07:00
RNS Number : 2817X
Edenville Energy PLC
23 November 2017
"the initial planned output of 10,000 tonnes per month, which is targeted to be achieved by the end of January 2018."

Then
May 2018 presentation
"The Mine is currently producing up to 4,000t per month of coal for sale and the Company is seeking to increase production
up to 10,000t per month in the near term"

Tue, 5th Jun 2018 07:00
RNS Number : 2519Q
Edenville Energy
" Our target is a regularised 8,000 to 10,000 tonnes of production per month by the end of 2018 "

And still we don't know the output levels 17 days from the end of 2018, and those 17 days include weekends and public holidays.

If Rufus can't get output to 10,000 tonnes a month, 13 months after publicly stating 10,000 tonnes a month, then should it be considered that Rufus has failed?

There lots of the following that now need updating but are not rainy season dependent

Technology installed, commissioned and increasing output?
Output levels in relation to the suggested 10,000 tonnes a month?
Funds received $700,000?
24 hour operation?
Digger loader bought?
Additional on site truck bought?
Additional spares package now on site?
New coal fields opened up?
Helping with mining operations for unnamed company?
Coal contracts?
Revenue, they gave us revenue figures in the interim results, so they can update?
Do they have the revenue to pay the Lind back in cash?

.. I can only conclude there is nothing material to tell us. Which is disappointing, but no surprise.