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30 Mar 2017 07:00
30 March 2017
EDENVILLE ENERGY PLC
("Edenville" or the "Company")
Project Update
Edenville Energy plc (AIM:EDL) is pleased to provide an update on its Rukwa Coal Project in western Tanzania.
Key Points
· | Mining has commenced at the Rukwa Project site;
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· | Mining and crushing of several hundred tonnes of coal already completed;
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· | Wash plant and crusher purchase completed; and
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· | Generators, spares package and other equipment in process of being acquired and packed.
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The Company is pleased to announce that mining has commenced at the Rukwa Project site and the crushing of several hundred tonnes of coal has already been completed. The majority of the coal produced so far has been crushed using a temporary crushing facility the Company has refurbished alongside our partner, Upendo. The resulting product has subsequently been sold to a customer with the intention of providing larger scale, long term sales once the main wash plant facility is operational.
The Company also announces that the purchase of the wash plant is now complete. The wash plant was purchased at a competitive price and the Company is pleased with the outcome. This along with a spares inventory, generators for the plant and site, and a crusher optimised for coal, is being packed for shipment from the UK to Tanzania, which is expected to take place in mid April. The Company has engaged a specialist logistics company to oversee the containerisation of the plant, its shipping to Tanzania and subsequent road transport to the Rukwa Project site. The precise timing of the arrival of the plant on site will be influenced by factors outside our control, but further updates will be provided as appropriate.
In parallel with the shipping of the plant further earthworks are being initiated for the plant site and to provide additional access roads for coal trucks. The increase in equipment on site will also allow a Run of Mine coal stockpile to be established in order to provide feed for the wash plant and crusher when installed on site.
Rufus Short, CEO of Edenville, commented: "I am extremely pleased that at this early stage in its development the project has been able to produce a crushed coal product that has subsequently been purchased by a customer. With the wash plant approaching a point where it can be shipped to site, I am confident that in Q2 2017 we will move towards being able to provide to the market a fully processed coal product. Now that the capital raise is completed we can commit to the completion of tasks to make this happen."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Edenville Energy Plc Jeff Malaihollo - Chairman Rufus Short - CEO | +44 (0) 20 7652 9788 |
Northland Capital Partners Limited (Nominated Adviser) Gerry Beaney David Hignell
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+44 (0) 20 3861 6625 |
Optiva Securities Limited (Broker) Jeremy King Graeme Dickson
| +44 (0) 20 3137 1902 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong Miles Nolan | +44 (0) 20 3053 8671 |
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