RE: Rns18 Jul 2019 08:37
RNS 21st June 2019
Looking ahead in 2019, our short-term goal is to open the Northern Mining Area, increase our production to reach break-even point in Q3 2019 and be cash flow positive within the next 10 months.
RNS - 18th July
Islandgirl - statements like the following
- in the Northern Area are collectively approximately 20m thick (in certain areas coal measures up to 40m thick)
- coal measures appear consistent with only moderate amounts of material such as mudstone
- Directors believe that a portion of this coal has the potential to be screened and sold unwashed-
- Directors expect the wash plant to move back to a double shift basis
- Directors believe the recent upgrades to the plant will result in less plant downtime
- we believe that significant quantities of coal can be extracted from the Northern Area with our current mining fleet
- should enable Edenville to become cashflow positive within the next 9 months
- as we target an initial washed coal production of 6,000 tonnes per month, which we consider to be a breakeven level