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,
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 9.75p |
Change Today | -0.25p |
% Change | -2.50 % |
52 Week High | 15.00 |
52 Week Low | 5.50 |
Volume | 17,905 |
Shares Issued | 60.22m |
Market Cap | £5.87m |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
13:38 | 8,035 @ 9.66p |
12:10 | 9,633 @ 10.38p |
10:28 | 237 @ 9.62p |
You are here: research