Edenville Energy PLC Rukwa Update (4280R)
November 05 2021 - 2:00AM
UK Regulatory
TIDMEDL
RNS Number : 4280R
Edenville Energy PLC
05 November 2021
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDDKQBDCBDDODK
(END) Dow Jones Newswires
November 05, 2021 03:00 ET (07:00 GMT)
Edenville Energy (LSE:EDL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Edenville Energy (LSE:EDL)
Historical Stock Chart
From Apr 2023 to Apr 2024