By Duncan Ferris
Date: Tuesday 27 Feb 2018
LONDON (ShareCast) - (ShareCast News) - Edenville Energy shares jumped more than 10% after the company provided an update on several new contracts at its Rukwa coal development project in Tanzania on Tuesday.
The coal mining and power company has secured a one year contract to supply a minimum of 2,000 tonnes of coal per month to an East African industrial user, along with a slew of trial orders with other potential customers for a further several thousand tonnes per month.
One such trial order, for 4,000 tonnes, will result in a further contract for 60,000 tonnes over a six month period if the initial batch is deemed suitable.
Edenville Energy chief executive Rufus Short said: "We believe we are in a strong position as a coal producer in Tanzania. Whilst our current production is mainly under one off contracts with potential longer-term customers, we are confident that a sufficient number of these orders will lead to longer-term contracts. This coal is being sold at commercial market rates, similar to those rates we expect for longer-term deals."
After commencing production at the project back in October, Edenville is now receiving payments for shipments made in late 2017.
Edenville Energy's shares were up 12.84% to 0.46p at 1003 GMT,
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Currency | UK Pounds |
Share Price | 8.50p |
Change Today | -0.25p |
% Change | -2.86 % |
52 Week High | 15.00p |
52 Week Low | 8.00p |
Volume | 162,863 |
Shares Issued | 60.22m |
Market Cap | £5.12m |
Value | ![]() |
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No dividends found |
Time | Volume / Share Price |
09:54 | 8 @ 8.00p |
09:54 | 55 @ 8.00p |
09:54 | 30,000 @ 8.25p |
09:53 | 32,800 @ 8.53p |
09:19 | 25,000 @ 8.55p |
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