Edenville Energy Share Discussion Threads

[635426383] 28/2/2018 10:42

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[datait] 28/2/2018 10:42

Starting to move back up again folks.

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Edenville Energy Shares Rise As New Coal Orders Won In Tanzania LONDON (Alliance News) - Africa-focused exploration company Edenville Energy PLC said on ...
Alliance News27 February, 2018 | 11:34AM Email Form
LONDON (Alliance News) - Africa-focused exploration company Edenville Energy PLC said on Tuesday it has made substantial progress on its recently established commercial coal project in Tanzania with new orders and contracts.

Shares in Edenville Energy rose 18% at 0.480 pence on Tuesday.

A one-year contract has been signed with an unnamed East African industrial user to supply a minimum of 2,000 tonnes of coal a month with "favourable payment terms".

Also, Edenville has started production on a new order for 4,000 tonnes of coal for use by a Tanzanian customer. If the coal is considered suitable for the customer's needs in the initial order, the customer will request another 60,000 tonnes over a 6-month period, and in parallel Edenville has conducted trials with a potential third customer.

In addition, the company said it has found solutions to its logistical challenges with transporting mined coal, with several transport options available at competitive market prices and no need for capital expenditure by Edenville.

Edenville will start to focus on entering long-term contracts with groups that can give attractive payment terms.

"As we progress our coal to power project we believe we are in a strong position as a coal producer in Tanzania. Whilst our current production is mainly under one off contracts with potential longer-term customers, we are confident that a sufficient number of these orders will lead to longer-term contracts. This coal is being sold at commercial market rates, similar to those rates we expect for longer-term deals," said Chief Executive Officer Rufus Short.

By Dayo Laniyan; [e-mail]

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