25 Aug 2017 08:45
This announcement replaces the notification of 7:00am today. It includes a link to a photograph of the screen component referred to in the announcement. The full text of the announcement is set out below.
25 August 2017
EDENVILLE ENERGY PLC
("Edenville" or the "Company")
Project Construction Update
Edenville Energy plc (AIM:EDL), the company developing a coal project in south west Tanzania, is pleased to provide an update on construction at the Company's Rukwa coal project site.
Key Points
· | Plant components delivered to site and construction commenced
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· | Screen undergoing operational tests
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· | Independent assay results returned positive raw coal values of 5,220Kcal / Kg and 15.7% Ash
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· | Several groups expected to take delivery of coal in the coming weeks
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· | Promotion of coal in East Africa region ongoing with assistance of a Marketing Agent
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The majority of the wash plant components are now on site with the last shipment due for delivery next week. Construction has commenced with the concrete foundation pad for the drum section in the finals stages of completion. Emphasis has been placed on establishing the screen component as rapidly as possible and this is now completed and undergoing operational testing (see attached photo
http://www.rns-pdf.londonstockexchange.com/rns/9962O_-2017-8-25.pdf).
This will allow sized coal to be distributed to customers who have requests pending.
Recent independent assay results carried out on the Mkomolo seam currently being exposed have returned raw coal values of 5,220Kcal / Kg ( 21.93Mj) and 15.7% Ash. We are very encouraged by these numbers and consider when this coal is processed through the wash plant a premium product can be obtained.
Stripping of overburden is exposing significant quantities of coal in readiness for the plant. Overburden at this stage is soft and friable which is helping to achieve high digging rates.
The completion of the screen will provide a consistently sized product and four groups are planning to take delivery of screened product shortly. We are in communication with others to take both screened coal and washed coal once the plant construction is completed.
In addition to the Company marketing the coal, we have an agent actively exploring new client possibilities in the region, including in Kenya, Rwanda and Uganda.
In parallel with the plant a laboratory is being built on site that will be able to provide proximate analysis data for quality control. This is scheduled to be operating at the same time as the plant.
We will continue to update the market on the progress of construction in the coming weeks.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
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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
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+44 (0) 20 3137 1902 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong
| +44 (0) 20 3053 8671 |