great news14 May 2019 11:22
Edenville Energy PLC's (LON:EDL) shares were also deemed hot stuff after the Rukwa coal project developer issued an operation update.
The company has now received the funds from its recent placing and has recommenced development of the project, which is located in south-west Tanzania.
Of late, Edenville has only achieved modest levels of production and as such the inventory of washed coal has been exhausted. The company has been able to sell all the washed coal it has produced to date and believes the current contracts that are in place for circa 8,000 tonnes per month in aggregate will be able to be satisfied from opening up the northern mining area.
The shares were the top performers in early trading, up 38% at 0.0725p, valuing the company at just over £1mln.