11 Sep 2013 07:00
Edenville Energy plc
("Edenville" or "the Company")
Engagement of East African Mining & Energy Specialist, EIA Update
Rukwa Coal Project
Edenville Energy plc (AIM:EDL), the coal focused African energy exploration and development company, is pleased to announce the engagement of RAFCOGROUP ('RAFCO'), a privately owned Investment and Management Consulting Company, specialising in the East African Mining and Energy markets.
RAFCO has been engaged to work alongside Edenville to identify strategic partners and investors including, potentially, both government and private stakeholders. It is envisaged RAFCO will help recognise and deliver suitable investment opportunities to the business.
Environmental Impact Assessment ('EIA') Update
Following the recent completion of the Scoping Study by Sound Mining Solutions (SMS), Tansheq, Edenville's environmental consultants, will now include this report into the EIA submission document for presentation to the Ministry in Q4 of this year. The EIA will cover the Namwele and Mkomolo deposits, collectively known as the Rukwa Coal Project. On approval of the EIA, Tansheq will complete the Feasibility Study report required for final approval of the Mining Licence.
Sally Schofield, Chairman of Edenville Energy, commented: "We view the engagement of RAFCO as a very positive step as we progress our Rukwa coal projects towards a development decision. The recent findings of the Scoping Study,which we published on September 9th, give us a framework on which to build a model for a small scale coal-to-power business and we welcome the opportunity to work alongside such an experienced and well-connected consulting group.
"With the assessment of the commercial viability of the Rukwa Coal Project (comprising the Namwele and Mkomolo deposits) now further advanced we hope that RAFCO will be able to identify like-minded co-investors and partners to take advantage of this next phase in our development".
Dr Tatyana Magarshak, Managing Director and co-founder of RAFCOGROUP, added: "Our core capability lies in identifying and structuring investment opportunities in East Africa, predominantly in the Energy, Mining, Infrastructure and Real Estate sectors. We look forward to working closely with Edenville and other identified partners to deliver the best possible strategy and appropriate investment solution."
For further information please contact:
Edenville Energy plc +44 (0)20 7653 9850
Sally Schofield - Chairman
FinnCap +44 (0)20 7220 0500
Geoff Nash / Charlotte Stranner
Newgate Threadneedle +44 (0)20 7653 9850
Graham Herring