EDL.L Share News (EDL)

(Sharecast News) - Edenville Energy updated the market on its Rukwa Coal Project in southwest Tanzania on Friday, reporting the ongoing ramp-up of production and sales through October, towards a target output of 3,000 tonnes per month of washed coal later in the year.
The AIM-traded fim said it mined 2,240 tonnes of run-of-mine coal during the month, and produced 1,024 tonnes of washed coal through its wash plant, representing an increase of over 150% on the September figures.

A further 7,680 tonnes of waste was also moved, thus opening up greater access to the coal deposit.

Edenville sold a total of 1,069 tonnes of washed coal domestically in October, which included all of the month's production and part of the existing stockpile.

The company said it had received orders from existing customers for 3,600 tonnes of washed coal for November, and had now expanded operations to a 12-hour shift to meet that increasing demand.

It said the team on site was looking to reach and then maintain a daily production rate of 160 tonnes of washed coal, with production on 3 November coming in at 140 tonnes.

Discussions were ongoing with additional customers, the board added.

"I am pleased to report further progress last month, with a significant increase in production, processing and sales following upgrades to the site in the third quarter," said chief executive officer Alistair Muir.

"I believe the company remains on track to meet its stated objective of selling at a rate of 3,000 tonnes per month of washed coal by the end of the year."

At 1013 GMT, shares in Edenville Energy were up 2.04% at 25p.