Edenville Energy PLC - operates Rukwa coal project in southwest Tanzania - Revenue for 2020 slumps to GBP33,852 from GBP233,414 in 2019, but loss for year narrows to GBP1.2 million from GBP1.8 million. "The Covid-19 pandemic dominated 2020 across the globe and unsurprisingly impacted the company's expected operations at Rukwa. Despite this strong headwind, the company was still able to make progress, albeit not as fast as we would have liked," firm notes. Says business environment in Tanzania is improving, and it is seeing inquiries from former and new customers for coal. "We believe that as business conditions improve further the company is well-placed to take a major step forward through the adoption of this new operational structure that will ensure Edenville draws revenue from every tonne of washed coal sold," it says.
Current stock price: 33.00 pence
Year-to-date change: up 32%
By Lucy Heming;Â lucyheming@alliancenews.com
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