News blog

Edenville Energy

• BY: Andrew Hore |
• POSTED: 17/09/2012 |

Coal explorer Edenville Energy is awaiting the full assays from its drilling in the Rukwa coalfield.

Edenville has a resource of 39mt at an average calorific value of 17MJ/kg at Mkomolo in the Rukwa coalfield project in Tanzania. The coal is suitable for use in power generation.

There was a £382,000 cash outflow in the six months to June 2012. On top of that there was capital investment of £252,000. There was still £2.28m in the bank at the end of June 2012, following a £2.5m placing at 0.25p a share earlier in the year.

The first drill targets have been identified at Muze Basin and drilling will start in the fourth quarter.

At 0.16p a share, Edenville is valued at £7.11m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2012_36.pdf