Edenville Energy Share Discussion Threads

[tidy 2] 23/1/2017 19:30

It's so big and this is besides imminent contract news to produce cash positively THIS QUARTER Director TalkEdenville Energy PLC Partnership with Sinohydro Corporation Posted by: giles.arbor 23rd January 2017 Edenville Energy plc (LON:EDL) has today announced that the Company has established a strategic partnership with Sinohydro Corporation of China ("Sinohydro") in relation to the Company's Rukwa Coal to Power Project (the "Project"). This strategic partnership is underpinned by a Memorandum of Understanding ("MOU") which Edenville and Sinohydro have signed regarding the codevelopment of the Project. Currently, Sinohydro has 486 international projects under construction in more than 72 countries, with a total contract value of nearly US$ 43 billion. Key Points · Edenville and Sinohydro establish strategic partnership and sign MOU to codevelop Rukwa Coal to Power Project; · Sinohydro to complete Bankable Feasibility Study for the Power Plant Project; and · Edenville to continue responsibility for the coal mine and fuel supply The MOU sets out the basic terms to build a strategic partnership between Edenville and Sinohydro, with the aim of then proceeding to a formal Joint Development or Joint Venture Contract, where Sinohydro will have the role of EPC (Engineering, Procurement and Construction) contractor for the Project. The MOU is valid for 18 months until 19 July 2018 and gives both companies exclusive rights to work with each other on the project during this time. The tasks to complete pre-development will be shared by the two companies, depending on the relevant experience and specialisation of each of Edenville and Sinohydro. Sinohydro has previously committed considerable time and resources to the Project. In H2 2016, prior to signing the MOU, it carried out extensive review work on site along with completing a technical proposal and an independent financial model. As part of its commitment pursuant to this MOU, Sinohydro will complete a Bankable Feasibility Study ("BFS") for the proposed Rukwa Power Plant. It is estimated that Sinohydro will incur costs of approximately US$1 million on BFS related work. Sinohydro's project team will also use their considerable experience of working with Chinese and other financial institutions to assist in exploring appropriate funding options available for development capital to be used for construction. Edenville will be responsible for the continued development of the coal mine portion of the project along with the permitting and legal aspects to advance the power plant to its construction phase. Throughout the MOU period Edenville will retain all its ownership rights, shareholdings and control of its coal deposit along with control and ownership of its two Tanzanian companies, Edenville International Tanzania Ltd and Edenville Power Tanzania Ltd. Certain other key terms of the MOU are set out below: – The MOU is not legally binding but is governed and construed in accordance with the laws of England and Wales;Should the MOU not proceed to a legally binding development agreement between Edenville and Sinohydro and if the BFS is subsequently used by Edenville with another strategic partner, Edenville will return the cost incurred for the BFS back to Sinohydro; and – No assurances can be given at this stage that the MOU will lead to a successful outcome for the Company and either party may issue a termination notice, giving the other party 2 months' notice. Rufus Short CEO of Edenville Energy Plc commented: "I am extremely pleased that we have been able to develop our working relationship with Sinohydro over the later part of 2016 when they carried out extensive feasibility work, culminating in the signing of the MOU. We can now advance together and move the Project to the stage where the goal is a formal EPC contract and the subsequent development of the Project. "In the last year, there has been great interest from groups that have shown the technical competency to complete the Project. Sinohydro's broad experience in Africa and its presence in Tanzania for over a decade give us the confidence that we have joined with a group that can bring many positive benefits to the Project and execute the construction process efficiently and cost effectively. "This MOU and the planned development of the mining operation at Rukwa both represent significant and exciting steps forward for the Company. I look forward to providing further updates regarding the Project as we move forward together with Sinohydro."

[effiert] 23/1/2017 17:00

haha. nice one teacup

[effiert] 23/1/2017 16:24

going strong into close. expect a big gap up in the morning

[tidy 2] 23/1/2017 15:17

Edl now mixing with the big boys I'd expect the production contracts to mirror this which probably gives an explanation as to how they expect to be cash positive Q1.

[grabers] 23/1/2017 15:03

Light .... you are angry today. Is your de ramping not working. Poor you. Maybe you should have bought and held like the rest of us

[tidy 2] 23/1/2017 14:28

Sinohydro (Chinese: is a Chinese state-owned hydropower engineering and construction company. In the 2012 Engineering News-Record Top 225 Global Contractors, a ranking by annual revenue, the company is 14th by overall position, and 6th among Chinese construction companies.[1] As of June 2015 it ranks 4th among Chinese companies for disposal of fixed assets.[2]

[tidy 2] 23/1/2017 14:28

In Malaysia, the company worked on a joint venture with Sime Engineering to build the largest dam in the country. The Sarawak Report, alleged that Sinohydro had widely used a technique involving adding excessive water to cement, making the construction unsafe. Sinohydro responded that the dam was safe but some work like the cleaning of silos wasn't done "following instructions".[3] The webpage of the Sarawak Report was hacked after it published the story.

[derano1] 23/1/2017 13:26

This has the potential of racing up to 4p before the fab news. Fingers crossed

[tidy 2] 23/1/2017 13:23

MMS moving to 1.4.

[telbap] 23/1/2017 13:00

I still stick by my 1 to 2 years to reach potential. I would be amazed if we made 4 to 5p in the current situation. The rns this am was pretty explicit that the report of the evaluation will not be ready until late FEB, and that's just an evaluation, agreeing terms and building a whole new power station is completely another story.The social and economic outlook in Tanzania is good, the have 6.5% inflation, a credible standing with the world bank, and excellent growth, also at 6.5% over the last decade (all figures - worldbank. Org )Happy to hold and add when milestones are reached as far as the power station is concerned.

[tidy 2] 23/1/2017 12:52

Expect several production contracts for Q1

[effiert] 23/1/2017 12:50

to smash through 1.2p.. can see 2p+ tomm

[wolfcub] 23/1/2017 12:49

Ticking up again. All aboard before the next news :)