Edenville Energy PLC Rukwa Update (1152U)
01 Diciembre 2021 - 1:00AM
UK Regulatory
TIDMEDL
RNS Number : 1152U
Edenville Energy PLC
01 December 2021
1 December 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 November 2021, as
it continues to ramp up production.
November 2021 highlights
-- 80% Increase in Run of Mine ("ROM") coal production from October 2021 level
-- 10% Increase in washed coal production from October 2021 level
-- Approximately 1,000 tonnes of washed coal sales
-- Orders of 3,600 tonnes of coal for December 2021 delivery
confirmed from two largest customers
In November 2021, the Company mined 4,026 tonnes of ROM coal
versus 2,240 tonnes in October 2021, representing an 80% increase.
Approximately 1,125 tonnes of washed coal was processed through the
Company's wash plant, representing an increase of 10% from the
October 2021 figure of 1,024 tonnes, which had benefited from
historic stockpiles. A further 18,690 tonnes of waste was also
moved, opening up greater access to the coal deposit for future
mining.
November's production would have been significantly higher had
it not been for extended mechanical issues with the main excavator,
which was unable to be used for mining for 15 days whilst initial
repairs were made and it was subsequently used for the installation
of culverts, and the clearing of drainage channels, to prepare the
site for the wet season. These operations have been completed and
the excavator has recommenced full mining operations. Assuming the
excavator is operational throughout December 2021 the Company
believes it should be able to improve substantially on November's
ROM coal production figures.
Approximately 1,000 tonnes of washed coal was sold during
November 2021, with 200 tonnes remaining in stockpile. A combined
order of 3,600 tonnes of washed coal has been reconfirmed by the
Company with its two largest existing clients for December 2021,
with the expectation of ongoing monthly orders of circa 3,600
tonnes per month thereafter. Discussions remain ongoing with
respect to additional contracts with new potential customers.
Further updates will be announced as appropriate.
Alistair Muir, CEO of Edenville, commented:
"November 2021 was both positive and frustrating. On the one
hand ROM production continued to improve, but sadly operations were
hampered by the excavator being offline for half of the month. The
issues have been addressed and we look forward to continuing our
progress on the mining front. As production becomes more stable we
would expect to improve the recoveries from ROM to washed coal
through the plant. Our sales book continues to improve and we are
also now receiving unsolicited approaches from potential
customers."
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
(Broker)
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
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