Edenville Energy PLC Project Update (9479A)
30 March 2017 - 5:00PM
UK Regulatory
TIDMEDL
RNS Number : 9479A
Edenville Energy PLC
30 March 2017
30 March 2017
EDENVILLE ENERGY PLC
("Edenville" or the "Company")
Project Update
Edenville Energy plc (AIM:EDL) is pleased to provide an update
on its Rukwa Coal Project in western Tanzania.
Key Points
-- Mining has commenced at the Rukwa Project
site;
-- Mining and crushing of several hundred
tonnes of coal already completed;
-- Wash plant and crusher purchase completed;
and
-- Generators, spares package and other
equipment in process of being acquired
and packed.
The Company is pleased to announce that mining has commenced at
the Rukwa Project site and the crushing of several hundred tonnes
of coal has already been completed. The majority of the coal
produced so far has been crushed using a temporary crushing
facility the Company has refurbished alongside our partner, Upendo.
The resulting product has subsequently been sold to a customer with
the intention of providing larger scale, long term sales once the
main wash plant facility is operational.
The Company also announces that the purchase of the wash plant
is now complete. The wash plant was purchased at a competitive
price and the Company is pleased with the outcome. This along with
a spares inventory, generators for the plant and site, and a
crusher optimised for coal, is being packed for shipment from the
UK to Tanzania, which is expected to take place in mid April. The
Company has engaged a specialist logistics company to oversee the
containerisation of the plant, its shipping to Tanzania and
subsequent road transport to the Rukwa Project site. The precise
timing of the arrival of the plant on site will be influenced by
factors outside our control, but further updates will be provided
as appropriate.
In parallel with the shipping of the plant further earthworks
are being initiated for the plant site and to provide additional
access roads for coal trucks. The increase in equipment on site
will also allow a Run of Mine coal stockpile to be established in
order to provide feed for the wash plant and crusher when installed
on site.
Rufus Short, CEO of Edenville, commented: "I am extremely
pleased that at this early stage in its development the project has
been able to produce a crushed coal product that has subsequently
been purchased by a customer. With the wash plant approaching a
point where it can be shipped to site, I am confident that in Q2
2017 we will move towards being able to provide to the market a
fully processed coal product. Now that the capital raise is
completed we can commit to the completion of tasks to make this
happen."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Edenville Energy Plc
Jeff Malaihollo - Chairman +44 (0) 20 7652
Rufus Short - CEO 9788
Northland Capital Partners Limited
(Nominated Adviser)
Gerry Beaney +44 (0) 20 3861
David Hignell 6625
Optiva Securities Limited
(Broker)
Jeremy King +44 (0) 20 3137
Graeme Dickson 1902
IFC Advisory
(Financial PR and IR)
Tim Metcalfe
Graham Herring
Heather Armstrong +44 (0) 20 3053
Miles Nolan 8671
This information is provided by RNS
The company news service from the London Stock Exchange
END
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