Shuka Minerals (SKA)

Sector:

Mining

Index:

FTSE AIM All-Share

11.00p
   
  • Change Today:
    -0.25p
  • 52 Week High: 15.00
  • 52 Week Low: 4.75
  • Currency: UK Pounds
  • Shares Issued: 60.22m
  • Volume: 293,962
  • Market Cap: £6.62m

Edenville Energy signs Rukwa sales and marketing deal

By Sean Farrell

Date: Wednesday 26 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Edenville Energy has signed a sales and marketing agreement for its Rukwa coal project in Tanzania with MarTek Global of Dubai.
Under the four-year deal MarTek will be an anchor tenant of Rukwa responsible for 3,000 tonnes of washed coal per month, increasing to 5,000 tonnes per month over the first year.

The AIM-traded company said the purchase price is the highest it has achieved to date, providing a healthy margin on coal sold. Edenville and MarTek will share marketing and sales responsibilities for sales over the anchor tenancy.

MarTek will have exclusive rights to market Rukwa coal in international markets at the agreed sales price with transport costs added.

Edenville said the deal complements a recent coal mining agreement with Infrastructure and Logistics Tanzania, a sister company of MarTek with the same principal shareholder. ILTL also agreed to lend Edenville $1m (£761,000) in July. Despatches of coal from Rukwa have started after the arrival of trucks, Edenville said.

Chief Executive Alistair Muir said: "We believe these agreements will collectively address the previous challenges, particularly in mining, processing and sales, that Edenville has experienced in recent years. Whilst concluding all three agreements has taken longer than envisaged as a result of the Covid-19 pandemic, we are excited to have now reached this point."

Edenville shares rose sharply in early trading but were down 5% to 0.048p at 09:21 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Shuka Minerals Market Data

Currency UK Pounds
Share Price 11.00p
Change Today -0.25p
% Change -2.22 %
52 Week High 15.00
52 Week Low 4.75
Volume 293,962
Shares Issued 60.22m
Market Cap £6.62m

Shuka Minerals Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
56.91% above the market average56.91% above the market average56.91% above the market average56.91% above the market average56.91% above the market average
70.63% above the sector average70.63% above the sector average70.63% above the sector average70.63% above the sector average70.63% above the sector average
Income Not Available
Growth
56.91% above the market average56.91% above the market average56.91% above the market average56.91% above the market average56.91% above the market average
59.38% above the sector average59.38% above the sector average59.38% above the sector average59.38% above the sector average59.38% above the sector average

Shuka Minerals Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 326 @ 11.00p
16:35 326 @ 11.00p
15:37 12,500 @ 10.00p
15:33 12,500 @ 10.00p
15:24 50,050 @ 10.00p

Shuka Minerals Key Personnel

CEO Noel Lyons

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