Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
417k...
Has to be said, that the update was positive news, albeit not groundbreaking. The new COVID delay is a shame, albeit double shifts.
No mention of silver at all in the RNS, though... should we have seen something in the data?
Well no trades yet, so clearly the RNS didn't wake anyone up...
End of the summary...
WHI View: Europa continue s 04 August 2022 to deliver positive results for Toral, which remains severely undervalued against its many base metal peers in Europe and agai nst our risked DCF analysis using only 20% of the NAV for stage risk. Toral itself is one of the largest, undeveloped lead + zinc resources (total resource) in Europe and we expect it only executable p to grow from the current drilling programme. With an lan to upgrade the ore and recover most of the zinc and lead in clean concentrates and with options on permitting to develop the project to high ESG standards we do not understand why the project appears overlooked by the investment community. We still se e fair value at 12p/sh but see many more upsides as Europa continue o r ebody.
Where's TONY?!?!?!
The one thing keeping me in this share today is NvS being onboard. Would expect things to improve from now on. Even with a raise for more equipment... can't be worse than the last 2 years, that's for sure.
3 August 2022
Edenville Energy Plc
("Edenville" or the "Company")
Corporate Update
Following a period of previously announced disappointing performance at Rukwa Coal Project ("Rukwa"), Edenville is pleased to announce that a new experienced on-site management team has been mobilised to run its mine at Rukwa in Western Tanzania, with the local team expected to be in place as of today, 3 August 2022. This follows a visit to the site by CEO Noel Lyons and Paul Ryan the Company's recently appointed executive Board members.
The Company is also pleased to announce that it has offtake requests for an aggregate 5,000 tonnes of washed coal in August 2022, comprising a 4,000 tonne international export order to a new customer in Mombasa, Kenya, and 1,000 tonnes to a longstanding Tanzanian customer. Furthermore, the new customer has indicated a potential requirement of up to 12,000 tonnes per month which the Company will endeavour to fulfil over the coming months, although this will require a significant ramping up of production at Rukwa under the supervision of the new on-site management team and a formal offtake agreement has yet to be signed with this customer. All of the production targets above far exceed previous and recent production levels at the mine and as a result there may be challenges initially getting production up to these levels but the new on-site management will endeavour to achieve the above target.
In addition, the Company continues to make progress on the reversal of the transfer of Upendo Group Ltd.'s 10% economic interest in the joint venture, which holds the licences governing the Rukwa project, to a 10% direct holding on the principal production licence. A further update will be provided in due course.
Noel Lyons, Chief Executive Officer of Edenville, commented: "Following a period of poor production and lack of progress at Rukwa, the Company regained operational control at Rukwa. We are now putting in place a strategy to expand operations at Rukwa to deliver on both growth and shareholder value."
well.... that does actually sound promising! Let's see what the market thinks....
Someone didn't like the update... down we go.