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Edenville loss widens after challenging year

Fri, 21st Jun 2019 09:15

(Sharecast News) - Edenville Energy's annual loss widened as costs vastly outstripped revenue in what the mining company described as a challenging year.The AIM-traded company's pre-tax loss for the year to the end of December was £1.79m compared with £1.19m a year earlier. Revenue at £337,125 was less than a third of Edenville's £1.19m cost of sales.There were no year-earlier figures for these items. Edenville shares fell 25% to 0.047p at 09:38 BST.The developer of Tanzania's brownfield Rukwa coalfields said it was hit by heavy rain, lack of transport and a high percentage of fine coal from its production. It also had to make changes to increase capacity and buy extra mining equipment and had to take over construction of a plant because the contractor's work was not good enough.Edenville said operations got off to a good start in 2019 but a share offer that closed in February was poorly subscribed, leaving it short of funds to fulfil order and expand its operation. In April it succeeded in raising £510,000.Jeffrey Malaihollo, Edenville's chairman, said: "2018 was a significant but very challenging year for the company. We made substantial progress, becoming a revenue producing commercial coal producer for the first time, although it has taken longer than we had hoped to overcome the challenges we faced and reach the positive position we are now in."Malaihollo said the company was now generating revenue and had a wide range of customers and enough equipment to develop its current plant.

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20 Dec 2018 11:25

Edenville Energy installs water purifier at Rukwa

(Sharecast News) - Tanzania coal project developer Edenville Energy said on Thursday that, further to the announcement it made on 17 December, the Lamella clarifier water treatment plant that had been installed at its Rukwa Coal Project was now fully operational.

7 Dec 2018 14:37

Edenville Energy Re-Submits Tender For Coal Power Projects In Tanzania

LONDON (Alliance News) - Edenville Energy PLC on Friday said it resubmitted the documentation for the request for qualification for coal fired power generation projects in Tanzania.The Co,

6 Nov 2018 12:49

Edenville Energy Secures USD3 Million Loan To Develop Coal Project

LONDON (Alliance News) - Edenville Energy PLC on Tuesday said it entered into a conditional convertible funding agreement with an entity managed by the Lind Partners LLC to make up to USD2.8 for a

2 Nov 2018 16:18

Edenville Energy Notes Tanesco Cancelling Power Supply Tenders

LONDON (Alliance News) - Edenville Energy PLC on Friday noted Tanesco's decision to cancel specific tenders in relation to power supply project.Tanesco is Tanzania's state-owned and

22 Oct 2018 14:41

Edenville Energy submits documents to supply power to Tanzanian grid

(Sharecast News) - Tanzania coal project developer Edenville Energy said on Monday that, on 19 October, the documentation for the request for qualification (RFQ) for coal-fired power generation projects was submitted to Tanzania Electricity Supply Company (Tanesco) at their Dar es Salaam headquarters.

22 Oct 2018 11:21

Edenville Energy Submits Request For Qualification To Tanesco

LONDON (Alliance News) - Edenville Energy PLC said Monday it submitted a request for qualification to Tanzania Electricity Supply Co, known as Tanesco, for coal-fired power generation projects in

9 Oct 2018 13:45

Edenville inks largest single coal contract to date

(Sharecast News) - Edenville Energy has inked a "significant contract" for the supply of a specialised coal product with an unnamed East African industrial outfit.

24 Sep 2018 10:56

Edenville Energy Shares Surge As Reports Maiden Revenue In First Half

LONDON (Alliance News) - Edenville Energy PLC on Monday said its loss narrowed in the first half of 2018 as it delivered revenue for the first time.The stock was trading 14% higher on at is

22 Aug 2018 09:03

Edenville Energy scores East African supply conract

(Sharecast News) - AIM-listed firm Edenville Energy has inked a two-year coal supply contract with an East African industrial group.

14 Aug 2018 13:10

Edenville Energy At Advance Stage Of Negotiating Coal Supply Contracts

LONDON (Alliance News) - Edenville Energy PLC said Tuesday it is in "advanced stage" of negotiations for several long-term contracts for coal supply.Shares were trading 5.3% the

27 Apr 2018 15:45

Edenville Energy Looks To Up Production As It Raises GBP740,000 (ALLISS)

LONDON (Alliance News) - Edenville Energy PLC on Friday said it plans to raise GBP740,000 through a discounted share placing to fund its mining activity in Tanzania.Coal miner Edenville is

23 Jan 2017 10:41

WINNERS & LOSERS SUMMARY: Paradise For Eden Research, Edenville Energy

18 Jan 2017 16:41

Edenville makes good reguatory progress in Tanzania

(ShareCast News) - Edenville Energy announced on Wednesday that the second stage of the Environmental and Social Impact Assessment for its integrated coal-to-power project in western Tanzania - the Scoping Study - had now been completed with the relevant documents being approved by the Tanzanian Nat

12 Jan 2017 14:23

Edenville Energy begins trial mining at Rukwa Project

(ShareCast News) - Tanzania integrated coal to power project developer Edenville Energy announced on Thursday that it has started trial mining at the Rukwa Coal Project near Sumbawanga in the west of the country. The AIM-traded firm said that over the past several months, it has received significant

5 Dec 2016 10:13

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