Tlou Energy Limited (DI) (TLOU)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 2.30p
   
  • Change Today:
      0.000p
  • 52 Week High: 2.56
  • 52 Week Low: 1.35
  • Currency: UK Pounds
  • Shares Issued: 1,076.54m
  • Volume: 44,367
  • Market Cap: £24.76m

Tlou progresses funding discussions for Lesedi project

By Josh White

Date: Tuesday 27 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Tlou Energy updated the market on funding for the Lesedi power project on Tuesday, outlining the two phases in which the project would proceed.
The AIM-traded firm said the first phase would involve transmission line construction, transformers, grid connection, electricity generators and potentially the drilling of additional gas wells.

It said the 100 kilometre transmission line would run from the Lesedi project to the town of Serowe, where it would connect to the existing power grid.

Initial generation was proposed to be up to 2MW of electricity, with funding required for that phase being around $10m.

Phase two funding would be for the expansion of electricity generation up to 10MW.

That, the board said, would involve drilling additional gas wells and the purchase of additional electricity generators.

Funding required for the second phase would be about $20m.

"Upon successful completion of phase one and two, the company plans to expand the project beyond 10MW," the board said in its statement.

"This expansion is expected to be completed using project revenues and debt."

Current funding discussions were mainly related to phase one, and had been progressing well, the board said.

The company said it was in discussion with a number of groups, some more advanced than others, including institutions with a focus on infrastructure development within Botswana, and cleaner energy groups looking to see a move away from traditional coal-fired generation.

Discussions with Botswana Development Corporation (BDC) had been ongoing for several months, the directors said.

"The company understands that BDC is seeking internal investment approval and the company continues to work with BDC to successfully conclude a funding proposal that fits within BDC's investment parameters."

In addition, Tlou said it had recently received an indicative term sheet for transmission line and transformer funding from a new potential financier.

"The company will assess this offer alongside other potential financiers to evaluate the best possible option and funding partner going forward."

At 1100 GMT, shares in Tlou Energy were down 2.33% at 4.2p.

Email this article to a friend

or share it with one of these popular networks:


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

 

TLOU Market Data

Currency UK Pounds
Share Price 2.30p
Change Today 0.000p
% Change 0.00 %
52 Week High 2.56
52 Week Low 1.35
Volume 44,367
Shares Issued 1,076.54m
Market Cap £24.76m

TLOU Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.02% above the market average46.02% above the market average46.02% above the market average46.02% above the market average46.02% above the market average
28.95% above the sector average28.95% above the sector average28.95% above the sector average28.95% above the sector average28.95% above the sector average
Price Trend
82.17% above the market average82.17% above the market average82.17% above the market average82.17% above the market average82.17% above the market average
87.80% above the sector average87.80% above the sector average87.80% above the sector average87.80% above the sector average87.80% above the sector average
Income Not Available
Growth
49.22% above the market average49.22% above the market average49.22% above the market average49.22% above the market average49.22% above the market average
54.72% above the sector average54.72% above the sector average54.72% above the sector average54.72% above the sector average54.72% above the sector average

TLOU Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:40 3,525 @ 2.50p
13:21 650 @ 2.20p
12:20 80 @ 2.48p
12:19 91 @ 2.48p
12:19 907 @ 2.48p

TLOU Key Personnel

Finance Director Colm Cloonan

Top of Page