Edenville Energy PLC Project Update (6906J)
August 21 2019 - 2:00AM
UK Regulatory
TIDMEDL
RNS Number : 6906J
Edenville Energy PLC
21 August 2019
21 August 2019
EDENVILLE ENERGY PLC
("Edenville" or the "Company")
Project Update
Edenville Energy Plc (AIM: EDL), the AIM quoted company
developing the Rukwa coal project in southwest Tanzania, is pleased
to announce it has taken delivery of two recently acquired 30 tonne
trucks to be used in mining load and haul at its Rukwa Coal Project
(the "Project") site.
Utilising a modest part of the proceeds from the fund raising
undertaken in May 2019, the trucks will provide the backbone of
load and haul operations at the Project. As the Project expands the
trucks may be supplemented with additional units. The Company has
previously been relying on trucks supplied by contractors, which in
the past have sometimes proved to be both an expensive and
inefficient option. The two new trucks will operate on a two shift
per day basis, compared to the single shift for the previous
contractor's trucks, increasing the amount of coal that can be
delivered to the Company's wash plant. As a result, the wash plant
is expected to move to a double shift basis in the coming weeks,
thereby boosting productivity at the Project.
Rufus Short, CEO of Edenville, commented: "Adding these new
trucks to the Company's fleet should reduce the Project's mining
costs and enable greater flexibility and extended usage in
operations. As the Northern Mining area continues to yield
encouraging results, our reliance on contractors is diminishing and
our overall efficiency improving. I look forward to providing our
shareholders with further updates regarding overall progress at the
Project in due course."
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 3934 6630
SP Angel Corporate Finance LLP
(Nominated Adviser and Joint
Broker)
David Hignell
Jamie Spotswood
Abigail Wayne +44 (0) 20 3470 0470
Brandon Hill Capital Ltd
(Joint Broker)
Oliver Stansfield, Jonathan Evans +44 20 7936 5200
IFC Advisory Limited
(Financial PR and IR)
Tim Metcalfe
Graham Herring
Heather Armstrong +44 (0) 20 3934 6630
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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