Shuka Minerals (SKA)

Sector:

Mining

Index:

FTSE AIM All-Share

 7.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 12.25p
  • 52 Week Low: 4.10p
  • Currency: UK Pounds
  • Shares Issued: 60.22m
  • Volume: 3
  • Market Cap: £4.37m
  • Beta: 0.38

Edenville Energy adds two new trucks for Rukwa coal project

By Iain Gilbert

Date: Wednesday 21 Aug 2019

LONDON (ShareCast) - (Sharecast News) - Coal mine developer Edenville Energy has taken delivery of two recently acquired 30-tonne trucks to be used in mining load and haul at its Rukwa coal project in southwest Tanzania.
Bought with proceeds from its May fundraising, the new trucks will provide the backbone of load and haul operations at the project.

The AIM-listed company had previously relied on trucks supplied by contractors, which in the past had proved to be both an "expensive and inefficient option".

Edenville's two new trucks, which it said may eventually be supplemented with additional units as the project expands, will operate on a two-shift per day basis, compared to the single shift for the previous contractor's trucks, increasing the amount of coal that can be delivered to the company's wash plant.

As a result, Edenville's wash plant was expected to move to a double shift basis, boosting productivity at the project as a result.

Chief executive Rufus Short said: "Adding these new trucks to the company's fleet should reduce the project's mining costs and enable greater flexibility and extended usage in operations.

"As the Northern Mining area continues to yield encouraging results, our reliance on contractors is diminishing and our overall efficiency improving."

As of 0845 BST, Edenville shares had dropped 4.76% to 0.050p.

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Shuka Minerals Market Data

Currency UK Pounds
Share Price 7.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 12.25p
52 Week Low 4.10p
Volume 3
Shares Issued 60.22m
Market Cap £4.37m
Beta 0.38

Shuka Minerals Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
26.32% above the market average26.32% above the market average26.32% above the market average26.32% above the market average26.32% above the market average
59.06% below the sector average59.06% below the sector average59.06% below the sector average59.06% below the sector average59.06% below the sector average
Price Trend
58.31% below the market average58.31% below the market average58.31% below the market average58.31% below the market average58.31% below the market average
12.41% below the sector average12.41% below the sector average12.41% below the sector average12.41% below the sector average12.41% below the sector average
Income Not Available
Growth
36.63% above the market average36.63% above the market average36.63% above the market average36.63% above the market average36.63% above the market average
42.37% above the sector average42.37% above the sector average42.37% above the sector average42.37% above the sector average42.37% above the sector average

Shuka Minerals Dividends

No dividends found

Trades for 21-Nov-2024

Time Volume / Share Price
12:05 2 @ 6.63p
09:44 1 @ 6.63p

Shuka Minerals Key Personnel

CEO Noel Lyons

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