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Edenville Energy Acquires Second Excavator For Rukwa Coal Project

Mon, 14th Jan 2019 11:49

LONDON (Alliance News) - Edenville Energy PLC said Monday it has purchased a second excavator for its Rukwa coal project to begin mining at an additional site.

Shares in Edenville Energy were down 12% Monday at 0.13 pence each.

The second excavator is expected to "open up" a new mining area to the north of the current excavations in Tanzania, Edenville said, adding that the second excavator is already in operation at the project site.

Edenville said four additional haul trucks have been hired to increase the amount of material being mined from the existing pit. The new excavator and the additional trucks are expected to move to the new northern mining area shortly.

The Tanzanian authorities have approved the additional site and Edenville said land compensation payments are now being made.

An in-pit lighting system has been installed, allowing 24 hour operations in the existing pit. Edenville believes this "further increases" its mining capacity.

Edenville said: "Management believe that these developments, when complete, will increase that amount of washed can that can be produced from the project and the company looks forward to providing further updates as matters progress."

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17 Jan 2014 13:48

Edenville Energy completes fundraising for Rukwa coal-to-power project

Edenville Energy's shares tumbled after the African coal exploration and development company announced it had raised one million pounds through the placement of shares. The company sold more than 1.4m new ordinary shares at a price of 0.07p to fund the Rukwa coal-to-power project. The project incl

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17 Jan 2014 13:22

UK MIDDAY BRIEFING: Royal Dutch Shell Shocks With Profit Warning

LONDON (Alliance News) - Oil giant Royal Dutch Shell shocked the market Friday by warning that its profits will be well below expectations after nearly every part of its business performed below its expectations in the fourth quarter.

The profit warning has sent its

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17 Jan 2014 10:55

UK WINNERS & LOSERS: Shell And William Hill Lead FTSE 100 Fallers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.

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FTSE 100 - WINNERS

Aviva, up 1.5%. The insurer has revealed that it has entered into a 50-50

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17 Jan 2014 09:47

Edenville Energy Slides As It Completes GBP1 Million Placing

LONDON (Alliance News) - Edenville Energy PLC Friday said it has completed a placing of more than 1.4 million shares, raising gross proceeds of GBP1 million for accelerating the development and strategic partnership plans for its Rukwa coal-to-power project, a proposed 100 mega watt plus power st

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26 Nov 2013 12:17

UK WINNERS & LOSERS: BTG Leads FTSE 350 Risers On Treatment Approval

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26 Nov 2013 11:36

Edenville Energy To Raises Its Tanzania Power Plant Ambitions

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20 Sep 2013 07:44

Edenville Energy's Rukwa Coal project moves towards production

Edenville Energy narrowed its first-half losses as it made progress on its Rukwa Coal project in south-west Tanzania. The African coal explorer upgraded its mineral resource estimate of the project, which includes the Namwele, Mkomolo and Muze coal deposits, to 57.5m tonnes of coal measured and in

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20 Sep 2013 06:53

Edenville Appoints New CEO, Says Well Funded For Near-Term Needs

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17 Sep 2013 09:45

Edenville Energy Draws GBP390,000 From Equity Finance Facility

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11 Sep 2013 07:16

Edenville Energy To Look For Investors With Consultant RAFCO

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7 May 2013 11:21

Edenville Energy narrows annual losses

Edenville Energy narrowed its annual losses as its cash reserves and net assets grew. The group reported an operating loss of £0.64m for the year ended December 31st 2012, compared to £1.2m the previous year. Net assets rose to £10m from £8.6m while cash reserves increased to £0.78m from £0.51m.

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22 Apr 2013 08:57

Edenville commences scoping study in South West Tanzania

AIM-listed Edenville Energy has commenced a scoping study at the Namwele coal deposit in South West Tanzania. In an update issued on Monday, the coal-focused African energy exploration and development company provided details of its operations at the Rukwa Coalfield. It said that a revised Enviro

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26 Mar 2013 08:36

Edenville Energy shares surge on upgrade at Tanzania coal project

Edenville Energy, the coal exploration and development company, announced on Tuesday a significant upgrade of the Rukwa Coalfield project in South Western Tanzania. The group reported 173m total tonnes in-situ at Mkomolo, Namwele and Muze combined at the prospect. Most of the resource tonnage (9

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5 Mar 2013 13:48

Schofield succeeds Rollason as Chairperson of Edenville Energy

Sally Schofield has been appointed Chairperson of Edenville Energy, the coal-focused African energy exploration and development company, succeeding Simon Rollason. A statement issued by the company on Tuesday said that Rollason had stepped down as Chairman of the company to concentrate on other com

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