Edenville Energy plc (LON:EDL), the company developing a coal to power project in south western Tanzania, announced today its unaudited Interim Results for the six months ended 30 June 2017.
Period Highlights
· £2 million (gross) raised to start coal production;
· Mining commenced at Rukwa project site;
· Wash plant and crusher purchase complete;
· Critical mining equipment purchased;
· Improvements made to Rukwa site infrastructure;
· Tanzanian mining contractor appointed, together with additional Edenville staff;
· Enlarged Mining Licence granted, now covering 9.88km2 with additional Prospecting Licence of 29.62Km2;
· Strategic partnership with Sinohydro Corporation of China (“Sinohydro”) in relation to the Company’s Rukwa Coal to Power Project established; and
· Formal request from the Ministry of Energy and Minerals of Tanzania to proceed with the development of the Rukwa Coal to Power Project.
Post period Highlights
· Wash plant and crusher delivered to site and are being commissioned;
· Supply of unwashed coal and coal stockpiling ready for wash plant operation;
· 16km mine haul road constructed;
· Marketing Agreement entered into with an agent to source coal customers; and
· Interest from potential customers to purchase Company’s coal.
Rufus Short, CEO of Edenville Energy Plc commented: “The first half of 2017 was an extremely busy and transformational period for the Company. Having raised funds in February to start production, we have been able to rapidly put in place the required infrastructure and are seeing strong demand for our coal.
We look forward to the wash plant being operational shortly and commencing sales of washed coal, whilst continuing to advance our Coal to Power Project in conjunction with our partner Sinohydro.
The remainder of 2017 is expected to be equally busy and we look forward to providing updates as matters progress.”
