LONDON (ShareCast) - (ShareCast News) - Edenville Energy posted a narrower loss for the first half as it announced positive results from a surface test-pit programme in January.
For the six months ended 30 June, the company, which is developing a coal-to-power project in south western Tanzania, posted a pre-tax loss of £421,819, slightly narrower than last year's loss of £533,265.

Edenville, which does not generate any revenue, said it had net assets of £7.97m compared with £8.80m in the first half of last year.

In addition, the company announced positive results from a surface test-pit programme in January, demonstrating a significant quantity of high quality near surface coal.

Non-executive chairman Sally Schofield said: "We are pleased with the level of progress that the company has made over the last six months, continuing along our path of developing the Rukwa coal-to-power project.

At 1050 BST, Edenville shares were down 2.7% at 0.05p.

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