Finally..................14 Aug 2018 09:49
I posted this on the 30th June ".......Rufus / Jeff / Edenville deliver something. An RNS stating output has been increased, filtration system installed, excavator purchased, contracts signed, you know the stuff they are getting paid to do" and on the 18th July "Can't see why.......these can't be answered ; as the pre-screening technology been installed? has the excavator been purchased? have the fleet of truck obtained? have new mining areas been opened up?"
Finally after weeks of posting on this board and email Jeff and Tim they issue an RNS answering my questions, I love it how, after me moaning that the last update was February, they sneak in a response to that (Twice) "From 25 May 2018 (the date of the previous update)" and "since the update provided with the release of the annual results for the year ended 31 December 2017 on 5 June 2018" Haha, cheers Tim, I guess that saves you responding to my emails.
OK so let's get the obvious out the way. We've heard since January 2017, that they have been getting closer and closer to signing contracts. I have stated in a post on here that I couldn't see them signing any contracts based on 'up to 4,000 tonnes a month' and again it's jam tomorrow on the contract front I'm afraid to say but they are substantiating the getting closer opinion with an increase in production.
Finally.... production numbers, we are not going to know the price they sell it at, but production numbers are great and increasing, and the amount sold is rising. If they have negotiated favourable credit terms the month should now be flowing into Edenville and I'm keen to see the interims to see the level of sales up to the end of June, because by the sounds of it the figure will be much better come the end of this year. Yes I believe they are on target for the 10,000 tonnes a month by year end, and with it THERE SHOULD BE NO REASON WHY COAL CONTRACTS CAN'T BE SIGNED!!!!!
The excavator has been purchased, working and making a difference "Approximately three thousand tonnes of coal have already been mined or exposed at Namwele" Excellent news. So Edenville have now got the means to get the coal out of the ground and into the washer/crusher.
"A Lamella clarifier water treatment plant is nearing assembly stage completion and will be installed on site for commissioning later this month." So installed later this month, but then it needs commissioning, and commissioning takes longer than building, so by the end of September operational. I expect a RNS by the end of September informing th e market it is working
Pre-screening plant installed latest 8 weeks, so 9th October - put that in your diary folks. I expect a RNS around that date updating the market.
Forgetting the jam tomorrow contract stuff, this is an EXCELLENT RNS that the market has been crying out for.
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