Edenville Energy pledges to review Tanzania mine if talks fail

Edenville Energy warned that it may have to review its plans to revive coalfields in Tanzania if it fails to do a deal with potential partners, hitting its shares.Edenville said negotiations with possible partners in its Rukwa coal project had moved forward and were continuing to make good progress.It said it had enough information on the Rukwa deposit to avoid more drilling in the coming year and believed the coal there would be suitable to supply a 100 megawatt power station.But the group said it had been unable to tell shareholders more about its talks because of confidentiality constraints around the discussions.It also said raising capital for the company was and remains a significant challenge.Chairman Sally Schofield said: "The board commits to a full strategic review in six months' time should these discussions fail to provide an outcome for the Rukwa coal project which represents best value for our shareholders."Shares in Edenville closed 0.01p down at 0.05p in London.PW