Project Update

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	[phone]
SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) David Hignell Jamie Spotswood Abigail Wayne	[phone]
Brandon Hill Capital Ltd (Joint Broker) Oliver Stansfield, Jonathan Evans	[phone]
IFC Advisory Limited (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong	[phone]

 

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