14th Aug 2018 13:10
LONDON (Alliance News) - Edenville Energy PLC said Tuesday it is in "advanced stage" of negotiations for several long-term contracts for coal supply.
Shares were trading 5.3% higher following the news at 0.30 pence each on Tuesday.
The company is focused on developing the Rukwa coal project in south west Tanzania where in the period from May 25 to Thursday last week it has produced 17,530 tonnes of run of mine coal, equivalent to 230 tonnes per day.
The company, which is at the stage of upgrading the coal plant, said it expects the tasks to be completed by the end of September.
"Although no guarantees can be given that these long term contracts will be secured, the plant upgrade will allow this future production to be guaranteed to customers and we will update the market on progress in this area as it occurs," Edenville said.
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