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Edenville sees increase in orders

By BFN News | 08:20 AM | Monday 08 January, 2018


Edenville Energy - which is developing a coal project in southwest Tanzania - said orders from clients in the East Africa region had now increased to several thousand tonnes and the company was busy fulfilling this demand. It said that it was also in detailed discussions on contractual terms with several of these groups and others on potential orders that total over 10,000 tonnes of coal per month. It said one group is requesting a regular order of 5,000 tonnes per month, whilst two others are requesting 3,000 tonnes each per month. It said if these discussions resulted in firm orders then monthly revenue to the company was projected to be in excess of US$300,000, depending on the calorific value of the product taken, although there could be no guarantee that individual preliminary orders would result in long term contracts being put in place. It said that in anticipation of the company's planned increase in production, and as heavy wet season rains were affecting both production and transport logistics, the decision had been taken to initiate two shifts on the plant to help ensure production could be maximised. It said that in addition, adjustments to the process and access to better, less weathered, coal in the mine had resulted in the finished coal product containing consistently high energy values. It said washed coal values were averaging above 5,500GCV (Gross Calorific Value in Kcal/Kg) on an air-dried basis. It added: 'We are confident as the pit expands and treatment techniques are further refined, that this coal quality can be built on and sustained. 'Meanwhile, infrastructure continues to be developed on site, with, amongst other things, the test laboratory now installed and functioning.' At 8:20am: (LON:EDL) Edenville Energy PLC share price was +0.05p at 0.54p Story provided by StockMarketWire.com

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