5 Nov 2021 07:00
5 November 2021
Edenville Energy Plc
("Edenville" or the "Company")
Rukwa Update
Edenville Energy Plc (AIM: EDL) is pleased to provide an update regarding the Company's Rukwa Coal Project ("Rukwa" or the "Project") in southwest Tanzania for the month of October 2021, as it continues to ramp up production and sales to a targeted output of 3,000 tonnes per month of washed coal later this year.
In October 2021, the Company mined 2,240 tonnes of Run of Mine (ROM) coal and produced 1,024 tonnes of washed coal through its wash plant, representing an increase of over 150% on the September 2021 figures. A further 7,680 tonnes of waste was also moved, thereby opening up greater access to the coal deposit.
1,069 tonnes of washed coal was sold domestically in October 2021, which included all of the month's production and part of the existing stockpile. The Company has received orders from its existing customers for 3,600 tonnes of washed coal for November 2021 and is pleased to report it has now expanded operations to a 12-hour per day shift to meet this increasing demand. The team on site are looking to reach and then maintain a daily production rate of 160 tonnes of washed coal, with production on 3 November 2021 being 140 tonnes and continuing to increase day by day. Discussions remain ongoing with additional customers and updates will be provided as appropriate.
Edenville's CEO, Alistair Muir, visited the Project in Tanzania in October 2021 to inspect the site and plan with the Tanzanian staff the continuing expansion of production into 2022, as the Company continues to see a healthy interest in supply from the Tanzanian domestic market.
Alistair Muir, CEO of Edenville, commented: "I am pleased to report further progress last month, with a significant increase in production, processing and sales following upgrades to the site in Q3 2021. I believe the Company remains on track to meet its stated objective of selling at a rate of 3,000 tonnes per month of washed coal by the end of the year."
For further information please contact:
Edenville Energy Plc Jeff Malaihollo - Chairman Alistair Muir - CEO | +44 (0) 20 3934 6630 |
Strand Hanson Limited (Financial and Nominated Adviser) James Harris Rory Murphy
|
+44 (0) 02 7409 3494 |
Brandon Hill Capital Ltd (Broker) Oliver Stansfield Jonathan Evans
| +44 (0) 20 7936 5200 |
IFC Advisory Limited (Financial PR and IR) Tim Metcalfe Florence Chandler | +44 (0) 20 3934 6630 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.