Directorate Change

RNS Number : 0536O

Edenville Energy PLC

02 November 2016

 

2 November 2016

EDENVILLE ENERGY PLC

("Edenville" or the "Company")

Directorate change

Edenville Energy plc (AIM:EDL), the Company developing an integrated coal to power project in western Tanzania, announces the resignation of Mark Pryor, Chief Operations Officer of the Company.

With the recent banning of import coal, the Rukwa Project is moving its focus from exploration and licence acquisition to resource exploitation.  This is being carried out in parallel with feasibility studies and development of the proposed coal to power project.  As such, the Company is increasingly taking on an operational and engineering focus and will therefore need the services of an experienced open pit mining engineer.

Mark has tendered his resignation in the knowledge that his primary skills are on the geology side of the business rather than engineering. He recognises that the Company needs to find a person with the appropriate skills and experience to assume the changing role of Chief Operations Officer.  Mark has stepped down from the Board of the Company with immediate effect, but will remain with the Company for as long as is required to ensure an orderly transfer of responsibilities to an incoming COO, and other Edenville staff, over the next few months.

In the meantime, the Company's CEO, Rufus Short, will assume the formal responsibilities of COO whilst candidates for a new permanent COO or similar position are considered.

Jeff Malaihollo, Chairman of Edenville commented: "On behalf of the Company and the Board, I would sincerely like to thank Mark for his important contribution to the advancement of the Company and its assets in Tanzania during his time with Edenville.  Mark has been with the Company since late 2009 when the Rukwa deposit was largely unexplored.  Prior to becoming COO, Mark held several roles in the Company including Managing Director and Non-Executive Director.  He was instrumental in the development of the resource from a largely unexplored group of deposits to the 173 million tonnes of JORC compliant resources that currently exists.  He has also provided critical guidance and training to our team of geologists in Tanzania."

"Mark leaves the Company as it enters an exciting time moving its mining operation towards commercial operations in parallel with progression of the coal to power project alongside the Tanzanian authorities.  The Company will continue to ensure it has the key personnel and consultants in place to work towards the successful development of its assets in Tanzania."

"We wish Mark the best in his future where he is concentrating on his chosen profession of geology."

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	[phone]
Northland Capital Partners Limited (Nominated Adviser) Gerry Beaney David Hignell	[phone]
Optiva Securities Limited (Broker) Jeremy King Graeme Dickson	[phone]
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong	[phone]

 

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