Edenville Energy Share Discussion Threads

[tomboyb] 29/7/2020 08:44

Massive vol -

[daar] 29/7/2020 08:35

Over the course of next few weeks/months

[daar] 29/7/2020 08:10

Expecting few bags here

[therealtonythetiger] 29/7/2020 07:24

Edenville Energy PLC
Update on Recommencement of Operations at Rukwa
RNS Number : 4473U
Edenville Energy PLC
29 July 2020

29 July 2020



EDENVILLE ENERGY PLC

("Edenville" or the "Company")



Early Recommencement of Operations

Coal Mining Agreement and Loan Agreement Effective 1 September 2020

Update re Sales & Marketing Agreement





Edenville Energy Plc (AIM: EDL), the AIM quoted company operating the Rukwa Coal Project in southwest Tanzania (the "Project" or "Rukwa"), is pleased to advise that the recommencement of operations at Rukwa has been brought forward and will now begin on Monday 3 August 2020. The earlier restart follows the request and subsequent prepayment from an existing customer.



As per the Company's announcements of 8 June 2020 and 22 July 2020, Edenville has entered into a Coal Mining Agreement and Loan Agreement with its new strategic partner, Infrastructure Logistics Tanzania Limited ("ILTL"). Both of these agreements were subject to the agreement of a commencement date for operations with ILTL (the "Commencement Date"), which in turn was dictated by the ability of ILTL to relocate key operational personnel to site from international locations. Edenville is pleased to confirm the Commencement Date has now been agreed with ILTL as 1 September 2020. Accordingly, Edenville will handle the initial restart in consultation with ILTL, before handing over operational control to ILTL on 1 September 2020.



The Company also recently stated its intention to enter into a Sales and Marketing Agreement with ILTL to market coal to additional customers beyond Edenville's existing customer base at an agreed rate per tonne of washed coal that will be paid to Edenville, thereby providing additional revenue streams. In addition, ILTL will also provide an anchor tenancy at Rukwa, via the initial purchase of a minimum of 3,000 tonnes of washed coal per month, before increasing to 5,000 tonnes per month over the ensuing 12-month period. With the confirmation of the Commencement Date Edenville expects to finalise and enter into this agreement during August 2020.



Commenting, CEO of Edenville Alistair Muir, said:



"I am delighted to confirm the restart of operations at Rukwa next week. An existing customer is keen to take delivery of Rukwa coal and has now paid in advance to ensure delivery. Prior to the suspension of operations, the Company had built a substantial order book for Rukwa coal. Following the restart Edenville will look to refresh those outstanding orders for a progressive build-up of production towards 10,000 tonnes per month.



"In addition, we are happy to have finalised a Commencement Date with ILTL for 1 September 2020, which triggers our Contract Mining Agreement and Loan Agreement. Ahead of then we expect to have also finalised the Sales and Marketing Agreement, which will further boost our contracted sales figures.



"I thank all shareholders for the patience whilst Rukwa has been offline as a result of COVID-19 and I look forward to updating the market during August."

[canny lass] 29/7/2020 07:13

Good news. Start on Monday.

[therealtonythetiger] 22/7/2020 17:35

Over 20% spread grrrr. MMs arent interested atm..

[canny lass] 22/7/2020 09:23

Great to finally see a bit of positivity.

Look forward to mid-end of August for the resumption of operations.

[therealtonythetiger] 22/7/2020 07:43

Mid August and they start making a profit, lets hope the BOD stick to their word. Could be an interesting Q3..

[cricket mad] 22/7/2020 07:41

This is great news.Hoping great things today for the share price. Expect this to move up least 25%.

[letmepass] 22/7/2020 07:34

Another loan for equity

[johncasey] 22/7/2020 07:14

BOOM TIME!

[therealtonythetiger] 19/7/2020 20:12

INCOMING !!!!

[therealtonythetiger] 22/6/2020 12:56

An 8M buys shows up as a sell.
My 3M buy still sitting there. lol
welcome to AIM

[therealtonythetiger] 19/6/2020 16:45

Not filled, lets see what happens next week..

[therealtonythetiger] 19/6/2020 15:16

Orders in..

[therealtonythetiger] 19/6/2020 11:33

I will be buying a few million later this afternoon.

[therealtonythetiger] 16/6/2020 16:34

another TR1