Edenville Energy Share Discussion Threads

[smackeraim] 31/5/2022 08:10

Means they can get full value for the coal now, instead of $10 per tonne from contractor right?

[blue59] 20/5/2022 07:29

Yup, and they did!

[scoots] 19/5/2022 08:55

I think we all know how they will go

[bad gateway] 19/5/2022 07:37

Rising coal price is making the difference imo and the poison pill they put in place with the contractors re maintaining growth has given them leeway to take production back inhouse to take advantage of same.
Took a few yesterday to see how they go.

[rich2006] 18/5/2022 23:26

Company is a shambles, switching one way then another.
Edenville had ample opportunity to increase production when they had direct control, it never happened and they never achieved targets.
Why should it be different this time.
BOD should be sacked imo.

[profit7] 18/5/2022 14:22

Huge heads up from the company,
Next news of confirmation and it does 100% rise.
Unless investors get in before the next Rns.
Plan is to get in before the herds arrives, seen how vast Went from 0.22 to 2.5p

[bad gateway] 18/5/2022 13:38

Better news today imo. may actually become investable in the near term.

[nasarsaddique] 18/5/2022 13:37

Operational Update Rukwa Coal ProjectEDENVILLE ENERGY PLCReleased 13:15:03 18 May 2022RNS Number : 9770LEdenville Energy PLC18 May 2022 18 May 2022Edenville Energy Plc("Edenville" or the "Company")Operational Update Rukwa Coal ProjectEdenville Energy Plc (AIM: EDL) is pleased to provide an update on operations at its Rukwa coal project in Tanzania ("Rukwa").Since entering into a contract arrangement with NextGen Coalmine Ltd ("NextGen") in early 2022, both the international and domestic coal price has increased significantly. This has coincided with heightened interest from potential customers to enter into an offtake agreement for coal from Rukwa. At the same time, as announced on 4 May 2022, Edenville has yet to enjoy any material benefit from the contract mining arrangement due to operational issues, which it is seeking to have addressed. Accordingly, the Company are currently in discussions with NextGen to vary the existing contract mining agreement and are also assessing the viability of bringing operations directly back under the Company's control. Should this be enacted, it is expected to enable Edenville to capture a larger percentage of future sales, either on a contract or direct operation basis. Any changes are likely to be accompanied by a reconfiguration of the Board. In the meantime, Edenville is assisting NextGen on the ground and providing limited funding to allow operations at Rukwa to be increased on a timely basis.The Company has also been advised that Upendo Group Ltd.'s current 10% economic interest in the joint venture which holds the licences governing the Rukwa Project has been transferred to a 10% direct holding on the principal production licence (the "Licence"). The Company believes this transaction may require Upendo Group Ltd to make contributions to operations going forward. The Company is seeking formal clarification of the transfer and is in discussion with its Tanzanian legal advisers to understand its implications. The Company will provide a further update once these are received.Alistair Muir, CEO of Edenville, commented: "Since entering into the agreement with NextGen a number of things have changed on a macro level that have made the economics of Rukwa considerably more attractive. The Company is determined to maximise cash returns in the current global coal environment, especially given the attractive pricing forecast over the coming years. Given its current financial position Edenville now has capacity to expand operations organically and to meet this heightened demand. I expect to be able to further update the market in the near term.

[blue59] 05/5/2022 09:57

A disgrace!

[nasarsaddique] 04/5/2022 15:56

Operational Update Rukwa Coal ProjectEDENVILLE ENERGY PLCReleased 15:52:01 04 May 2022RNS Number : 3416KEdenville Energy PLC04 May 2022 4 May 2022Edenville Energy Plc("Edenville" or the "Company")Operational Update Rukwa Coal ProjectEdenville Energy Plc (AIM: EDL) wishes to provide an update on operations at its 100% owned Rukwa coal project in Tanzania ("Rukwa").From 1 February 2022 to 30 April 2022, 610 tonnes of washed coal was sold and 453 tonnes of fines were sold ex-stockpile. Little Run of Mine ("ROM") coal was mined given the period covered the end of the rainy season and delays in the full operational handover to the new contract miner. The Company believes the operational issues impacting production are being addressed, or will be so in the near term, enabling the Company to focus on achieving its targeted production rates. The Company continues to see growing demand for its coal, at increasingly favourable prices, with a number of buyers keen to enter into offtake agreements upon confirmation of stable production and surety of supply from operations.The contract mining agreement announced on 3 February 2022 placed the production and operational costs on the contractor and accordingly whilst the Company has not to-date benefited from material revenue generation, its existing cash resources have largely been maintained. This has ensured the Company remains in a healthy financial position as it continues to review additional investment and operational opportunities. At the same time, the Company is in discussions with its contract mining partner to ensure that the Company's operations at Rukwa are progressed on a timely basis.Alistair Muir, CEO of Edenville, commented: "Rukwa has the potential to produce significant free-cash to Edenville from its operations, particularly in the global coal pricing environment. Whilst we are yet to witness the economic benefits in a material way, by entering into a contracting arrangement we have largely mitigated the direct financial liabilities during this period of transition, enabling us to conserve our cash and focus on future transactions. As we move into a long dry season, we are focused on materially increasing production and believe we will be successful in delivering on this objective."

[iceagefarmer] 18/4/2022 17:27

so million tonnes= $10,000,000...in our dreams

[scoots] 18/4/2022 16:23

Let,s hope so

[letmepass] 17/4/2022 00:19

The takeover by Nextgen looks like a real smart move for them, a rising coal price high demand and paying EDL $10 per tonne

[scoots] 11/4/2022 13:26

Dint fly far did we

[iceagefarmer] 08/4/2022 11:55

looks like it..no smoke without coal

[yaki] 08/4/2022 11:05

Some sudden buying this morning. Coal is hot but has finally EDL managed to find how to make money out of it?

[scoots] 08/4/2022 09:17

Wake up folks, we're flying.

[blue59] 16/2/2022 15:21

Yes as of a minute ago.

[scoots] 16/2/2022 09:15

Can you buy?

[blue59] 16/2/2022 08:32

Can’t even get a price to sell 10000.

[blue59] 14/2/2022 08:41

Tragically yes!
I have mentally written this off as a 100% loss!

[scoots] 11/2/2022 14:52

Anyone still in?

[tesyr72] 04/2/2022 22:19

I do wonder wtf they have been doing. Open coal face... diggers... people...Maybe it was just down to marketing.

[blue59] 04/2/2022 14:50

All the while the snouts are in the trough and without having to break sweat!

[scoots] 04/2/2022 10:19

........but then again, 10% of something might be better than 100% of nowt.