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Edenville operating losses narrow

By BFN News | 08:12 AM | Wednesday 27 May, 2015


Edenville Energy posts a pre-tax loss of £2.3m for the year to the end of December compared with £2.4m last time. Net assets totalled £8.23m (2013: £8.34m) and operating losses narrowed to £1.3m from £1.7m. The company also Edenville Energy issued an update concerning the its Rukwa coal project. It said that further to the announcement on 18 May, Shandong Electric Power Construction No.2 Company (SEPCO2), having had meetings with the Edenville management team and undertaken their review of information provided by the company, will be carrying out a site visit to project in July to further evaluate partnership opportunities with Edenville. The visit is also planned to include meetings with Tanzanian government organisations relevant to the project, such as Tanesco and MEM, along with other project suppliers and contractors. The company says it is working closely with SEPCO2 to ensure the visit provides the information they require and that meaningful progress can be made. Further announcements will be made as appropriate. Chief executive Rufus Short said: "We are very encouraged by SEPCO2's continued involvement and rapid movement forward to a site visit and detailed talks in Tanzania. After extensive access to our dataroom, SEPCO2 continue to approach the project in a professional manner and it is a pleasure to work alongside them. We will continue to update our shareholders as appropriate." At 8:12am: (LON:EDL) Edenville Energy PLC share price was +0.01p at 0.08p Story provided by StockMarketWire.com

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