Annual Results for the year ended 31 December 2017
Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, is pleased to announce its audited results for the year ended 31 December 2017.
· Infrastructure purchased and commissioned to allow mining operations to commence and coal to be processed
· Mining licence enlargement completed
· Commencement of mining at the Company’s Rukwa site
· Trial shipments to commercial customers made
· Further progress on Power Plant Project
Post Period Highlights
· Operation of the mine and wash plant developed following the construction phase and a variety of sized coal products are being produced
· From 1 January 2018 to 24 May 2018 approximate numbers show 20,634 tonnes of Run of Mine coal processed, producing 5,665 tonnes of washed coal and 9,285 tonnes of fine coal
· Of the 5,665 tonnes of washed coal, 3,101 tonnes has been shipped and the Company is in receipt of orders that in aggregate total more than the currently stockpiled washed coal
Commenting, Jeffrey Malaihollo, Chairman of Edenville, said: “2017 was a pivotal year for Edenville as we moved from being an exploration company through to producing coal. It is a significant achievement to construct and operate a modern coal mine within approximately eight months and I believe the Company is now well positioned for the future.
“As we move through 2018 we intend to increase production levels from our Rukwa Mine and report further sales and contracts in the coming months, whilst continuing to progress our Power Plant Project.”