Advertisement

Edenville Energy delivers positive results from Rukwa

Edenville Energy, the coal focused African energy exploration and development company, on Thursday released results from five Muze drill holes on the Rukwa Coalfield project in south western Tanzania.

Edenville Energy, the coal focused African energy exploration and development company, on Thursday released results from five Muze drill holes on the Rukwa Coalfield project in south western Tanzania.

The results confirm both thermal coal grades and the continuity of coal measures within the area.

All drill holes are located within the known outline of the Muze deposit with holes covering a strike length of 1,100m.

Advertisement - Article continues below

Simon Rollason, Chairman of Edenville, said: "I am pleased to announce these very encouraging initial results from Muze. The results will have a positive impact on the resource statement when it is updated and emphasise the highly prospective nature of the project. Our intention in 2013, alongside the continued drilling at Muze, is to evaluate the feasibility of initiating small scale mining of the Namwele deposit; this has the potential of generating near-term revenues.

"Additionally, discussions continue with a number of parties who have shown interest in partnering with Edenville to build a mine-mouth power station on the project, utilising the Mkomolo and Muze coal via an off-take agreement. Our previously stated objective of increasing the confidence in the quantity and quality of Edenville's existing resource at the Rukwa coal project remains firmly in place."

The share price rose 6.35% to 0.34p by 13:30.

NR

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/property/601606/house-prices-crash-uk-property-prices-falling-where-next
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020
Visit/investments/commodities/gold/601587/bullish-gold-price-cup-and-handle-chart-pattern
Gold

This chart pattern could be extraordinarily bullish for gold

The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that invest…
1 Jul 2020