(EDL) Edenville Energy

For the last week iii have shone EDL as % risers when all we have done is go down, get your act together iii, and come on EDL , BOD get your hands in your pockets and show some comitment.

Thank you tillywolves. You are right. This an issue, but is hardly fatal to the plan to exploit the identified reserves.

As to price movement, I suspect that as you indicated it will drift lower as a result of the overall malaise of the market until there is some news event which again puts Edenville on the radar screen for speculative value investors. If this is the case, will add a bit more to my position. Depressing to think how quickly I have joined the average down club, but hopefully our collective faith and above all our patience will be appropriately rewarded.

Plenty of mines operating in Tanzania. They dont have any problems. Im sure EDL have calculated this in their extraction running costs.

Google "blackwater" and there is plenty of material to digest.

Do I think the price will go lower, yes is has, and if the Euro crisis gets worse, it may fall further on no news from EDL. I still think its a good buy at these levels.

Cheers Demoman - not too concerning then, hopefully.

Not really a problem as the water is recycled and reused, the solid waste once allowed to harden is usually dug out the settling ponds and moved by dump truck to tip area. Not all the coal will require washing.

http://www.investegate.co.uk/Article.aspx?id=201205150856063481D

I think we could be next.

They will want as much coal as they can get there hands on in the future. Meanwhile if EDL can get an open pit mine going they can be selling the coal while plans to build this power station is ongoing.

Someone mentioned a seller???

No seller round here mate at all.

I seen a buyer yesterday and last week and the week before that. Considering EDL has no interest blah blah blah the volumes have still been pretty decent and some days 100m shares have been traded. Someone has been picking these up on the cheap. I think we could be in for a nice ride up once MOU details and deals are announced.

It is time to stock up at these crazy prices. I have added another 2.5m. Fully loaded and ready and waiting.

BOM

http://www.investegate.co.uk/Article.aspx?id=201205150856063481D

I think we could be next.

They will want as much coal as they can get there hands on in the future. Meanwhile if EDL can get an open pit mine going they can be selling the coal while plans to build this power station is ongoing.

Someone mentioned a seller???

No seller round here mate at all.

I seen a buyer yesterday and last week and the week before that. Considering EDL has no interest blah blah blah the volumes have still been pretty decent and some days 100m shares have been traded. Someone has been picking these up on the cheap. I think we could be in for a nice ride up once MOU details and deals are announced.

It is time to stock up at these crazy prices. I have added another 2.5m. Fully loaded and ready and waiting.

BOM

A water availability issue would seem absurd in a country where 50% of current power generation is hydroelectric (as someone pointed out here a few weeks back), but it's an important one about which I know very little. Could overburden be removed mechanically at a cost that wouldn't be prohibitive if this were to prove necessary? Can anyone prvide any insight?

Looks like we have a seller now selling into the weak rises. Not taking much to keep this down.

Seems no one's responded to Loki's original question about water availability - is this a real concern? I've no knowldge on the washing process so forgive my ill informed questions.
Without water is the coal of little value? Even if water is not an issue, there seems to be an element of concern about the waste products from the washing process - has this been considered?

TW, you don't see this going lower then?

Great buy at that price....

Short to medium term, this was always going to slide on no news... General market sentiment at the moment, Euro crisis, etc etc is dragging everything down.

If I had spare funds, I'd be averaging down..

Yes and no. How was anyone to know that the fall was going to be so long? Market in freefall and scared investors. Im locked in at 1.95 p but still feel this will happen. The coal is there. It will be needed. S whether EDL is taken over or goes into production imo this is now a long term hold. After all for those that bought into Rockhopper all those years ago at 20pish are sitting on a lowly sp of £2.73 at the mo but when the market calms down etc Greece bla bla bla. The SP will climb back.
My point is is that this imo is not a short or even mid term investment. Its not like me to talk/ think like this but I feel this will eventualy give a good return.

At that point where the company's plant is worth more than the company! Can't believe this...

No point selling now though.

With the benefit of hindsight (and I don't mean the falling price) I can see that this was an appalling investment decision by me (break-even point about 0.85p) but I can't help feeling that I have been caught up in something more sinister than just poor judgement.

Anyone else feel that way?

As the proud owner of a 2.5 million shares in Edenville Energy (at a bit over .25 each) with all the rights and priviliiges attached thereto (i.e.none), I thought I would ask my fellow lottery ticket holders a couple of questions.

The Edenville deposit seems interleaved with overburden (there are multiple seams, in plain English). This requires a washing facility before the coal can be used in a power generation facility. The water used in this fashion ends up polluted and can not be used for other purposes without (expensive) reprocessing. Tanzania has been suffering from drought for the last several years. Has the management of Edenville explained where this is to come from and how confident that the riparian issue has been addressed? Also, is the interleaving common to the deposits which have attracted interest from potential power station investors?

Some of you seem to be following this closely and may know the answers, but I can not find the information.

PS: Am in hoping to recoup some of the money I have dropped on Centamin. I need a BIG price jump to even put a dent in performance to date from that puppy.

there seems to be something blue at the of the page, hmm I think I like it a little better then the red lets keep the blue colour scheme

Helix22

"Nice to see a nice rise during hard times :-)"

Thats just what the wife said to me last night!!!!!!!!!!!

It certainly would be!

Nice to see a nice rise during hard times :-)

Well, we've got a 2% rise, so only 158% more to go !!!

Now all we need to is the SP to move up something like PMK 160% and we can all feel a lot happier. Come on EDL

..... 33 seconds. Someone just joined the party !!!!

Jogonson

Good luck, in Char as well and truly believe it will do really well. All shares have been hammered by the Euro problem and so lots of good value shares to be had, including EDL. EDL has a good asset base which it is proving up over the next year so it is at least a year hold and watch the price rise for me.

MM

Jogonson,

Firstly, the best of luck to you in your current and future investments.

However, i can't help but think you're making a mistake here. We, like the rest of the market are being hammered. But looking forward 7 1/2 months to the end of the year, we wil have upgraded our inferred resource of 39m tonnes and begun drilling at Namwele and Muze.

Even if you don't the see the overall long-term value of EDL, then surely you must see the possibility of a relatively short term appreciation in the SP. I say this becuase i suspect you are nursing considerable losses, even if you can't break even, you could minimise those losses, surely.

Just as your instinct tells you to get out, mine tells me to buy and hold long term. I'm here til we reach production - well, that's the plan.

BFA 316

Jogonson gl . might do the same but waiting 'till end of next week - might see this bounce back up cheers ws

I have sat myself many times questioning the morality of my brain thinking 'GO ON EDL'. Luckily I don't say it out loud in public places.

The whole conflicting RNS thing really grinds my gears, because I can't make logical sense of it. I can't imagine a way it would have happened in an 'honest mistake' kind of way - perhaps I'm just cynical. I even emailed them about it, to which I received no reply.

I've got no choice but staying in, I'm still down a fair chunk. But I'm optimistic that I will have broke even closer to the end of 2012.

Sad to see someone else leave, but good luck with Chariot.

Good luck Jogonson, I'll continue to hold........mainly because I don't have a choice !

Dour.

Good luck to you all, especially Dezza the Flash & jbtrend (who I know is long in here) and one of the sanest people on these boards.

I have been killed over the last year, most recently on Chariot.
Few funds left but sticking with Chariot as I see massive potential multi bagging upside there as they go elephant hunting. Worth the risk at these prices.

Just can't see EDL SP going too far north in the near future and .20p looms large; too many ifs and buts, not least the costs of the power station, the levels of sulfur in the coal and the company's seeming naiveté to business in Africa and more delays.

I am not deramping here, just saying all that I have not said in the last year. I am gutted.
A lesson to be learned here - believe your gut instinct.
I believe that the directors have virtually no shares in this company.

The board IMO, although they have seemed to step up a gear in the latest RNS are extremely suspect IMHO, even if only in their levels of competence and honesty IMO.

The icing on the cake for me was releasing an RNS to say JORC would be delayed, sparking a drop in share price of approx 20% and then releasing the JORC a day later on the first trading day of Q2. That is suspect but will anyone pursue it? I cannot be bothered; it would eat my insides up and I'd rather walk away.

Although I hate to admit it, I feel I am the victim of a monumental P&D and am finally admitting that to myself. Should have got out at xmas when there was a spike to .49p rather than buying more. Hindsight - ah.

I still believe in EDL but I have to ask myself what board of directors would choose a ticker symbol with the same initials as the English Defence League?

Good luck to you all.

Kibo Mining Plc

(Incorporated in Ireland)

(Registration Number: 451931)

(External registration number: 2011/007371/10)

Share code on the JSE Limited: KBO

Share code on the AIM: KIBO

ISIN: IE00B61XQX41

("Kibo" or "the Company")

Memorandum of Understanding for Tanzanian Mine Mouth Power Station signed by Mzuri Coal

Shareholders are advised that the Company has been informed by Mzuri Energy Limited ("MZURI") that MZURI has entered into material negotiations in relation to its main asset, the Rukwa coal project, as more fully explained below.

* Mzuri Coal Limited signs Memorandum of Understanding to pursue the development of a mine mouth power station at its Rukwa Project with large Asian global conglomerate.

Dated: 15 May 2012

As set out in its announcement on 2 April 2012, Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, has, subject to various required statutory and shareholder approvals, agreed to acquire control of MZURI. Kibo is now pleased to report that Mzuri Coal Limited ("MCL"), a wholly owned subsidiary of MZURI, has agreed to record a Memorandum of Understanding (the "MOU") with a large Asian Conglomerate (AC), to pursue negotiations forthwith with a view to entering into definitive agreements providing for the development of a mine and a 250-350 MW mine mouth coal fired power station on MCL's Rukwa Coal Project ("Rukwa Power Project") near Mbeya as soon as practicable (the "Development Agreements").

Proposed Transaction Framework

The Development Agreements, if concluded and implemented, would provide for the the following salient elements:

* MCL would provide the AC with all available technical data and expertise to enable the AC to conduct a comprehensive feasibility study on the development of a Rukwa Power Project. If found feasible, MCL would develop a thermal coal mine and enter into a long term off-take agreement with the AC or its nominee to supply the Rukwa Power Project with coal sufficient for its requirements.

* The AC would undertake comprehensive technical, financial and commercial feasibility studies in respect of the Rukwa Power Project. If found to be feasible, The AC would procure all required approvals and permits for the construction, commissioning and operation thereof and design, build and operate a mine mouth coal fired power plant on the Rukwa Power Project.

* The AC would procure an Independent Power Producer ("IPP") license from the Electricity and Water Utility Regulatory Agency of Tanzania ("EWURA") and a Power Purchase Agreement ("PPA") from the Tanzanian National Electricity Supply Company ("TANESCO").

* The parties would have the opportunity to co-invest reciprocally in the equity of the

Jogonson

Maybe they just wanted to manage expectations. They said we would ge a JORC and we eventually got one which was OK. If they had said we would have got a JORC with "Measured and Indicated" resource figures then I think that they would have got slated for not providing them. Or even worse, they had to delay the issue of the JORC even more. I'm no expert on how they do mineral JORCs but maybe the expert explained that Geophyics may be needed later and so they acted prudently.

I think that this is all looking good for the medium term.

MM

Thanks for your comment Tilly wolves.

Following the disappointing news that preliminary logging results showed no commercial hydrocarbons in the first well they explored - and that it will consequently be plugged and abandoned - and the halving of the share price, “Chariot Oil & Gas Limited (AIM:CHAR), the Africa focused oil and gas exploration company, announces that Paul Welch, Chief Executive Officer, today bought 50,000 ordinary shares in the Company at a price of 77.64 pence per share”. Wonder if SR read this?!

First results from the geophysical retesting could be very soon - starting this week...

Hopefully this will change our inferred resource (i.e. worth diddly squat to a fund manager) into actual indicated resource as per last RNS...

"The objective of the drilling programme is to upgrade and expand the current maiden Inferred Resource at Mkomolo of 39 Million tonnes to a JORC compliant Measured and Indicated resource."

"upgrade" is the important one for me - we have nothing at the moment - only inferred.
Once we get our 39MT (or more) to "Measured and Indicated" then we're talking...

And I think we are very near - in fact I think they probably wanted this from the first JORC but for some reason they fell short.

The only thing that puzzles me is why they couldn't spell this out more clearly in the RNS.

in this market ws

Coal of this quality isnt for the export market. EDL have stated its for the internal market. It needs processing through wash plants to separate the mudstone from the coal to be commercially viable.

Tanzania is a net importer of coal remember..

Front page of moneyweek,article says china's miners dig up 3 billion tonnes a year and still have to import. Japan needs an alternative to nuclear as none of it's 50 nuclear plants were operating for the first time in four decades. Coal's main strength - it's cheap- cheaper per unit of energy produced than any other fuel apart from US Shale gas. India's coal use doubled in the last 12 years not to mention the other emerging economies of Asia and Americas.

dezza you wanna try WTI if u think this is bad

regards k

Come on all......its a very long and generaly disapointing experience but lets keep the banter and spirits going....Have a good w/ e all

Jorgonson

Agree. "Measured & Indicated" cariies a higher $/tonne in the ground value.

I note that the holds drilled are 500m apart as per previous RNS:

Layne Drilling Tanzania has been contracted to initiate a PQ/HQ size diamond drill core campaign across the Namwele and Mkomolo Deposits of the Rukwa coalfield. Drilling commenced on the 21st July at the Mkomolo Deposit of the Coalfield where geological mapping, supported by pitting and trenching undertaken by Edenville, has defined a strike length of over 7km of the potential coal measures strata. Coal measures are those strata known to host coal seam mineralisation. Drilling will be completed on a grid pattern with north-south line spacing at 500m intervals. All holes are being drilled vertically to intersect the coal measures at successively deeper depths up to a maximum of 200m. Once the Mkomolo area drilling is completed the drill rig will move south on to the Namwele Deposit.

which is on the limit according to the JORC standard, Aussy link below section 4.5.3

http://www.jorc.org/pdf/coalguidelines.pdf

Therefore I think with the geophysics then they could update the JORC with "Measured & Indicated" values but they may want to wait until they have drilled the additional holes to increase the tonnage as well.

MM