Edenville Energy plc (AIM: EDL), the company developing a coal project in southwest Tanzania, is pleased to announce that it has signed a contract with an industrial customer operating in East Africa (the “Customer”), who is part of a global manufacturing group, for the supply of coal on the terms set out below:
· the contract duration is for an initial period of two years; · coal will be supplied with a gross calorific value between 5,300 – 5,700 kCal/kg; · pricing has been agreed and is based on local commercial rates; and · tonnage is variable, but is expected to initially be between 300 to 500 tonnes per month.
Edenville has been working with the Customer through 2018 to create a product specifically suited to the Customer’s operations and has been supplying test batches of coal. The upgrades currently being undertaken at the Company’s Rukwa project site will ensure this contract, along with our other customer deliveries, can be met.
Commenting, Rufus Short, CEO of Edenville said, “After several months refining and testing our product we are pleased to move forward with this Customer on a formal supply contract basis. The Customer is part of a global group supplying products to various industries worldwide. We will continue to work with the Customer to ensure their needs are met and that the Company can look forward to supplying the Customer coal for at least the next two years. We are also examining ways Edenville can further assist this group in mining related tasks. I look forward to providing further updates on the progress of the operation as we look to expand and secure further contracts.”
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Edenville Energy Plc Jeff Malaihollo – Chairman Rufus Short – CEO +44 (0) 20 3934 6630
Northland Capital Partners Limited (Nominated Adviser and Broker) David Hignell Gerry Beaney Jamie Spotswood +44 (0) 20 3861 6625
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong +44 (0) 20 3934 6630
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