Member Info for Stuiegee

I maintain that going through the NOMAD is better pressure. They're acutely aware of AIM rules, if there is anything worth notifying they will make sure they do it.

I did speak to them last month actually. I can't say it made any difference, but we each have our own concerns. I did learn that they have a duty to inform the board of who has called and why.

NOMAD should I say

Anyone phoned the broker recently?

Sorry mate, not sure I see the link between that and TZ tenders

Aerial stated that the rejection of tenders is all down to the tarrifs, as far as some people on the KIBO board are concerned.

We need to have enough funding to survive 3 months. If the rumours are true and it's down to tarrifs, when the next tender is announced it will be 1 month to submit and an absolute minimum of 2 months to announce (If the last was anything to go by)

Aerial - I doubt wages would be as much of an issue if we knew that the CLN was covered and we were turning a decent profit on top. It's an annoyance and a shame that the board have shown nothing to suggest that this is even something that is achievable in the short term.

I've read the RNS from KIBO, I've also asked the board why we haven't had something similar as an update. If tariffs are the crux of the failing then it would certainly fill me with some confidence that another round will be held soon. Again though, it seems odd that, if that is the case, it hasn't been announced.

The board have to fight the issue that most people thought the tender was a done deal. I don't think they are making things easy on themselves by clamming up though

Aerial, the only way I can see but I doubt it has any merit is the idea that they (Tanesco) were after some envelopes to magically appear on their desks.
I find it difficult to believe that it has any political motivation to it either. So for me the tender failing comes down to just a few possibilities;
The company is too green in the horn for the undertaking. Probably the most likely outcome, but one that may be resolved if someone more experienced came on board. The flaw I find with this is, I'd imagine that Tanesco would come out fairly soon after and tell both KIBO and EDL that, that was the case. (To be honest I'm not entirely certain that I haven't posted that before, CBA to scroll to find out)
Or
The news from contract to build the infrastructure that had been posted the other day, has forced Tanesco to postpone the tenders. This is for me the most worrying as I'm not convinced that the company can survive for more than 6 months without good news and more permanent funding. If I remember not even 10% of the connections had been made in the 18m since contract inception. Again, CBA to check details, been up too long to care lol
Or
Someone has made a massive balls up with the tender details and have withdrawn in an attempt to save embarrassment.
Or
It is political and someone hitting out against the Chinese and TZ are taking a more Pro-EU stance.
Anything outside of those would probably shock me.

Had to cut it shorter than expected, was due out to drive at the time of writing. So my point is, these entrepreneurial (or whatever adjective has been used previously) on what basis are they investing? I haven't corroborated but I'm fairly certain there was no ROI on the last placing that was held?
Seems odd to me that anyone would put their hands in their pockets without knowing the full picture.

I'll keep this short, I'm getting round to replying to Aerial lol written the message 3 times. The problem with funding and the OO as I see it, is and it's crude: Dragons Den. If they turned up and said, we have a plan to produce 10k a month, we have 2 coal fields ready to use and a loan outstanding for $900k. Wages outstrip current profits and we want £1m for 10% of the business.
First question would be how are you going to boost profits?
How are you going to reach 10k/m?
What are profits?

I'm sure there would be more questions, now reply to those questions using info from the RNS's.

Aerial, the result of the tender is 100% out of their control, what happens next however is partially within their control. As mentioned, there is a framework to contest decisions made by Tanesco within Tanzanian Law. If Tanesco aren't opening up then at least hire a lawyer for a couple of grand who might at least get a response from them or the PPRA and let us know where we all stand.

Next RNS:

Edenville Energy is pleased to announce, that the proceeds accrued from the Open Offer have been used to invest in two giant Brollies. The first to be used over the wash plant to stabilise water flow rates and the second over the first one, just in case.
As a result production is up 500% to 7,500T/m

I've sent maybe 4-5 emails since the news on the tender of which I've had one reply. I have also spoken to everyone involved that will answer my calls.
My issue mainly (aside from the tender which to an extent is out of the company's control) is that the Lamella plant is nearing 3 months since installation, production increase must be evident by now, from a layman's perspective.
Aside from that, we have had nothing from the board as to whether they have any recourse from PPRA regulations, or whether there is another process (including legal intervention) that they could follow.
As much as 'RNS's are expensive' there needs to be a change in communication and soon

History certainly repeated during this drill.

Timeline as I see it:
Friday - oil shows, not commercial quantities
Sunday/Monday - oil pay intersected
Nothing yesterday
Today - Total depth was Sunday and 'multiple' pay areas identified...

TD was reached Sunday!?! Yet Mondays RNS wasn't the TD one. Multiple pays 'identified'. Best of luck

Dance around your handbags, im going to leave this question in the air: why haven't EDL suggested what KIBO have today, build the plant and sell the energy to the power export market. I'm sure there are some ways of getting the power to some form of grid for sale to Zambia.

I've emailed asking why we don't know if Lamella was a waste of money, no reply.

Is stirring at KIBO