Edenville Energy Share Discussion Threads

[therealtonythetiger] 27/2/2020 14:04

I would sell up then guys..

[glasswala] 27/2/2020 10:16

Didn't they say they had spares when they raised funds about the time of the sorter a round 6 monthsback. So why do they need more spare in such short time when the machine has hardly been used??This company will never make any money for its shareholders. It's a cash cow for directors.The best thing for it is to go bankrupt

[therealtonythetiger] 27/2/2020 08:41

EDENVILLE ENERGY PLC

Operational Update

Edenville Energy Plc (AIM: EDL), t he AIM quoted company developing the Rukwa coal project in southwest Tanzania ("Rukwa" or the "Project'), is pleased to provide an update regarding mining operations at Rukwa and the status of discussions with a potential strategic partner (the "Strategic Partner") for the Project.


Following the receipt of gross proceeds from the £700,000 capital raise, announced on 23 January 2020, progress has been made at the Project site, including:



- Reinstatement of an on-site operational advisor with extensive coal experience and historic involvement in the Project;

- A detailed review and assessment of the wash plant has been completed with minor plant modifications being made. The wash plant is now operating again and continuous production is targeted for early March 2020;

- Critical spares including new belts have been ordered which are expected to reduce any future downtime;

- A stockpile of approximately 6,000 tonnes of unwashed run of mine ("ROM") coal, which was mined from the southern pit at Rukwa,has been established adjacent to the wash plant; and

- The region is experiencing one of its wettest "rainy" seasons in many years. Accordingly, as the Directors believe that all economic coal has now been recovered from the southern pit, equipment will shortly be relocated to the northern pit and mining and hauling activities will be undertaken during periods of dryer weather. Based on the Company's previous experiences, the rainy season is expected to end in late April.



Update Re Potential Strategic Partner

On the 11 December 2019 the Company announced it was in discussions with a potential strategic partner for the Project (the "Strategic Partner"). The Company confirms that these discussions are progressing and a non-binding heads of terms has been agreed with the Strategic Partner covering a potential asset-level loan, a potential coal mining agreement and a potential coal marketing agreement. The Strategic Partner recently visited the Project and is now conducting due diligence on Edenville's operations. Whilst there is no guarantee that this period of due diligence will lead to a successful outcome for the Company, the Board is encouraged by the progress that has been made to date and looks forward to providing further updates regarding the Strategic Partner as appropriate.

Alistair Muir, CEO of Edenville, commented: "We are encouraged by the progress we have made since the receipt of funds, focusing firstly on re-establishing the workforce and secondly making essential modifications to the wash plant, including the delivery of a critical spares inventory and establishing the interim ROM coal stockpile. We intend to re-establish continuous production at Rukwa, as the weather conditions allow, and look forward to providing further updates regarding progress as appropriate."

[telbap] 26/2/2020 10:48

Waiting for the new CEO to confirm that he is actually real and alive. Zero stock traded for almost a week now, never seen this company so dead.....

[iamgreat1] 14/2/2020 15:51

Wonder when the pumpers will attack this next

[trjones2] 07/2/2020 14:45

he needs to buy some shares say 20 to 30 million

[telbap] 05/2/2020 13:14

Maybe the new ceo will actually do something?

[johncasey] 05/2/2020 12:45

yeah of course...king coal!

[iamgreat1] 05/2/2020 10:56

Casey u still in this dog

[johncasey] 05/2/2020 09:20

no wonder you cant buy spread bet on line..spreadex just increased holding massively

[rocket26] 28/1/2020 14:09

So how is your add going? you complete and utter anker

[therealtonythetiger] 27/1/2020 12:50

30% spread, MMs not playing today..

[rich2006] 24/1/2020 16:37

Don’t believe ya

[therealtonythetiger] 24/1/2020 16:26

Added some more

[therealtonythetiger] 24/1/2020 16:25

Thanks for your advice Rocket...

[rocket26] 24/1/2020 14:21

Avoid this share like the plague , so much dilution, time after time