Rukwa Operations Update

RNS Number : 6370W

Edenville Energy PLC

20 August 2020

 

20 August 2020

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Rukwa Operations Update

Edenville Energy Plc (AIM: EDL), is pleased to provide a short update on operations at its Rukwa Coal Project in southwest Tanzania (the "Project" or "Rukwa").

The Company is pleased to advise the wash plant at Rukwa recommenced operations on 19 August 2020, following on from the recommencement of mining activities in the Northern Pit on 3 August 2020.

Edenville can also confirm that the required repairs and upgrades to both the main access road and also the road from the northern pit to the wash plant have now been completed following the damage caused by the unusually heavy rainy season earlier this year.

Finally, as previously announced, Edenville recently received pre-payment for coal from an existing customer. This order has been satisfied with Edenville meeting its obligations. The coal is ready for collection, pending the arrival of the client's trucks at site.

Commenting, CEO of Edenville Alistair Muir, said:

"With the wash plant being reactivated, the site is now operational for the ongoing mining and processing of Rukwa coal, ahead of the upcoming handover of operations to our strategic partner Infrastructure Logistics Tanzania Limited ("ILTL") on 1 September 2020.

"Prior to this the Company expects to finalise and enter into the previously outlined Sales & Marketing Agreement, which will see ILTL take on an anchor tenancy of up to 5,000 tonnes per month of washed coal, whilst also using its logistics and distribution network to complement Edenville's existing efforts to expand its sales.

"I look forward to providing shareholders with further updates 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 Alistair Muir - CEO	[phone]
SP Angel Corporate Finance LLP (Nominated Adviser) David Hignell Charlie Bouverat Abigail Wayne	[phone]
Brandon Hill Capital Ltd (Broker) Oliver Stansfield, Jonathan Evans	[phone]
IFC Advisory Limited (Financial PR and IR) Tim Metcalfe Florence Chandler	[phone]

 

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