EDENVILLE ENERGY PLC 11 January 2016
("Edenville" or the "Company")
Edenville Energy plc (AIM: EDL) the company developing a coal to power project in south western Tanzania, is pleased to update shareholders and provide an overview of the work programme for Q1, 2016. This builds upon the considerable progress made during 2015.
Following on from our recent Collaboration Agreement, Edenville and Runh Power have agreed on a work programme for Q1 2016. The initial phase of the work programme comprises of multiple meetings with Tanzanian Government Organisations and technical analysis at the Rukwa site, to progress the Rukwa Coal to Power Project in accordance with Tanzania's Power Development Plan.
Edenville and Runh Power will work closely to action the remaining bankable feasibility work, expanding the Lahmeyer Rukwa Power Plant Feasibility Study (2015) to generate a definitive technical study and financial model which will underpin Power Purchase Agreement ('PPA') negotiations with the Tanzanian Government and advance financing options with suitable institutions.
Mining Licence Update
The mining licence application process is ongoing. The application has reached the stage of being placed on the MEM Cadastre system with the status of "Application Recommended". It is now awaiting the input of senior officials in the Ministry of Energy and Minerals (MEM) to complete the process.
Geophysics
The geophysical survey (ground magnetics) initiated in early 2015 aims to better delineate the boundaries of the coal basins and possible extensions outside the existing resource has been completed over the Namwele - Mkomolo region. A total of 116 survey lines at a spacing of 250m over the entire 16kms of Karoo basin was completed. This work totalled over 400 line km of survey work.
This data base will be forwarded to a geophysical consultant for final analysis and interpretation during 2016.
Outlook
The Company sees 2016 as a transformational year for the Rukwa Coal to Power Project, and continues to focus on securing a Power Purchase Agreement and project level finance prior to commencement of construction.
Contact | |
Edenville Energy Plc Rufus Short - CEO | +44 (0) 203 053 8671 |
Cantor Fitzgerald Europe (Nominated Advisor and Corporate Broker) Stewart Dickson Jeremy Stephenson Phil Davies | +44 (0) 20 7894 7000 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong | +44 (0) 203 053 8671 |
Edenville Energy plc issued this content on 2016-01-11 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-11 10:02:10 UTC
Original Document: http://www.edenville-energy.com/pdf_news/news_11January_2016.pdf
