Edenville Energy Share Discussion Threads

[scoots] 30/10/2020 14:11

Not at the moment

[therealtonythetiger] 30/10/2020 13:40

Are you short EDL ??

[scoots] 30/10/2020 13:17

Do you have to be snidey with everyone TRTTT. I don't think I've ever seen a post of yours in which you interact with people whereby you don't come out with vicious diatribe or foul language, or both.

[therealtonythetiger] 30/10/2020 13:04

Because you are not that bright..

[scoots] 30/10/2020 11:46

What makes you think I'm not.

[therealtonythetiger] 30/10/2020 10:10

To be perfectly honest i wasnt expecting too much in the way of massive changes. Until we get out of this period in the companies life we will get much of the same. They need to draw a line under the Lind situation and also the ILTL agreement needs finalising. I cant see this going anywhere til Q1 next year.

[scoots] 30/10/2020 09:22

A bit gloomy, to say the least.

[therealtonythetiger] 30/10/2020 08:51

Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, announces the Company's unaudited interim results for the six months ended 30 June 2020.

The reporting period has been characterised by:



- A complete restructuring of the operation of the Rukwa Project ("Rukwa") and finalisation of two agreements with the Company's new strategic partner, Infrastructure and Logistics Tanzania Ltd ("ILTL"). A third agreement was signed in August 2020;

- The impact of the Covid-19 pandemic on Rukwa and Tanzania as a whole;

- Two fundraisings in January and June to raise in aggregate £1.2 million (before expenses) via the issue of new equity, predominantly to existing shareholders;

- Adverse weather events that impacted production until April 2020; and

- The appointment of Nick von Schirnding to the Board to coincide with the departure of Rufus Short.

Post Period End Developments



- Recommencement of mining operations at Rukwa in early August 2020;

- Ongoing discussions with Lind Partners LLC regarding the status of the Funding Agreement; and

- Proposed hand over of day to day operations to ILTL under the conditions of the Coal Mining Agreement expected during November 2020.



Jeff Malaihollo, Chairman of Edenville, commented : "2020 has been dominated by the Covid-19 pandemic throughout the world. During the second quarter, a Tanzania-wide lockdown forced the Company to suspend operations at Rukwa.



However, the third quarter saw a recommencement of mining, processing and sales of coal from Rukwa and also the completion of three related agreements with our strategic partner ILTL, designed to address mining, sales and the Company's capital position. These three agreements form a new business model which we expect to improve the fortunes of the Company by freeing up the capital need for operations.



In June 2020, the Board also welcome the appointment of Nick von Schirnding as an Independent Non-Executive Director who replaced Rufus Short. Nick has 25 years of experience in coal mining and natural resources including strategic development, M&A, driving operational change.



Looking ahead, we believe the three agreements with ILT, the new business model, the renegotiation of the Company's debts and the Board changes have put the Company in a stronger position to achieve its goals."

[zxie] 30/10/2020 07:10

Rns Proposed hand over of day to day operations to ILTL under the conditions of the Coal Mining Agreement expected during November 2020.

[therealtonythetiger] 23/10/2020 11:26

They have to release one when certain thresholds are crossed whever they want to or not.

We are still awaiting interims plus hopefully loose ends with ITIL tied up.

[nasarsaddique] 23/10/2020 11:08

Oh, TR1's are at the buyer or sellers discretion, could still get one hopefully.

[therealtonythetiger] 23/10/2020 10:45

Nas i was expecting a TR1 but read it wrong..

[nasarsaddique] 22/10/2020 14:36

Really, when?

[therealtonythetiger] 22/10/2020 14:32

News INCOMING

[therealtonythetiger] 20/10/2020 18:18

ITL now down to 8%

[nasarsaddique] 20/10/2020 08:21

But struggling to break the 55

[bmwman3] 20/10/2020 08:20

Some nice buying