23 Feb 2017 07:00
23 February 2017
EDENVILLE ENERGY PLC
("Edenville" or the "Company")
Wash Plant Secured
Edenville Energy plc (AIM: EDL) is pleased to announce it has secured a coal washing plant and crusher in the anticipation of starting coal production at its Rukwa Coal Project in western Tanzania.
Key Points
· | Coal washing plant secured;
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· | Crusher secured; and
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· | Wash plant engineer appointed.
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The wash plant is based on a dense medium separation system, a well known and trusted method to wash and beneficiate coal. This will enable several different product specifications to be produced to allow the maximum flexibility in providing a suitable product for customers.
The wash plant has been inspected and reviewed by an independent process engineering consultant and was selected after extensive evaluation of alternative options. It is modular in structure and can be transported to site in containerised form and will be assembled at a suitable location close to the Rukwa coal deposit.
Assuming the resolutions are passed at the Company's forthcoming General Meeting on 17 March 2017, we expect to complete the purchase of the wash plant as soon as possible thereafter, at which point the shipping and assembly processes can start.
In addition to the wash plant, the Company has secured a suitable coal crusher plant to prepare and size the Run of Mine coal. It is planned that this crusher will be shipped to site at the same time as the wash plant.
The Company recognises it needs expert professional input into the construction and operation of the wash plant and has therefore appointed a qualified engineer with significant experience of both construction and operation of these types of plants. The engineer has already begun work on the necessary requirements for shipment and construction.
Rufus Short CEO of Edenville Energy commented: "We are very pleased to announce this next phase in the development of the mining operations. The wash plant is an integral part of the process to maximise the Rukwa coal deposit's potential and we are confident we have selected a suitable system. Additionally, having an engineer who has extensive experience with these types of plants give us the added confidence that the construction and commissioning can be well managed.
"We believe our coal wash plant will be the only such facility operating commercially in Tanzania and will place us in a strong position. We have significant interest in our coal from several different parties and the wash plant will enable the operation to deliver a consistent specified product to the local and regional market."
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
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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 |