Share Name Share Symbol Market Type Share ISIN Share Description
Edenville Energy Plc LSE:EDL London Ordinary Share GB00BN47NP32 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 19.50 19.00 20.00 19.50 19.50 19.50 1,350 07:43:36
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.3 -1.8 -0.1 - 4

Edenville Energy PLC Rukwa Update

05/11/2021 7:00am

UK Regulatory (RNS & others)

Edenville Energy (LSE:EDL)
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From May 2021 to May 2022

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RNS Number : 4280R

Edenville Energy PLC

05 November 2021

5 November 2021

Edenville Energy Plc

("Edenville" or the "Company")

Rukwa Update

Edenville Energy Plc (AIM: EDL) is pleased to provide an update regarding the Company's Rukwa Coal Project ("Rukwa" or the "Project") in southwest Tanzania for the month of October 2021, as it continues to ramp up production and sales to a targeted output of 3,000 tonnes per month of washed coal later this year.

In October 2021, the Company mined 2,240 tonnes of Run of Mine (ROM) coal and produced 1,024 tonnes of washed coal through its wash plant, representing an increase of over 150% on the September 2021 figures. A further 7,680 tonnes of waste was also moved, thereby opening up greater access to the coal deposit.

1,069 tonnes of washed coal was sold domestically in October 2021, which included all of the month's production and part of the existing stockpile. The Company has received orders from its existing customers for 3,600 tonnes of washed coal for November 2021 and is pleased to report it has now expanded operations to a 12-hour per day shift to meet this increasing demand. The team on site are looking to reach and then maintain a daily production rate of 160 tonnes of washed coal, with production on 3 November 2021 being 140 tonnes and continuing to increase day by day. Discussions remain ongoing with additional customers and updates will be provided as appropriate.

Edenville's CEO, Alistair Muir, visited the Project in Tanzania in October 2021 to inspect the site and plan with the Tanzanian staff the continuing expansion of production into 2022, as the Company continues to see a healthy interest in supply from the Tanzanian domestic market.

Alistair Muir, CEO of Edenville, commented: "I am pleased to report further progress last month, with a significant increase in production, processing and sales following upgrades to the site in Q3 2021. I believe the Company remains on track to meet its stated objective of selling at a rate of 3,000 tonnes per month of washed coal by the end of the year."

For further information please contact:

 Edenville Energy Plc 
  Jeff Malaihollo - Chairman 
  Alistair Muir - CEO                   +44 (0) 20 3934 6630 
  Strand Hanson Limited 
   (Financial and Nominated Adviser) 
   James Harris 
   Rory Murphy                           +44 (0) 02 7409 3494 
 Brandon Hill Capital Ltd 
  Oliver Stansfield 
  Jonathan Evans                        +44 (0) 20 7936 5200 
 IFC Advisory Limited 
  (Financial PR and IR) 
  Tim Metcalfe 
  Florence Chandler                     +44 (0) 20 3934 6630 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018.

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(END) Dow Jones Newswires

November 05, 2021 03:00 ET (07:00 GMT)

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