Edenville Energy PLC Option Exercised on Rukwa Coalfield Project (3108K)
August 20 2012 - 2:00AM
UK Regulatory
TIDMEDL
RNS Number : 3108K
Edenville Energy PLC
20 August 2012
20(th) August 2012
EDENVILLE ENERGY PLC ("Edenville" or the "Company")
Option Exercised on Rukwa Coalfield Project, Tanzania
Edenville Energy plc (AIM:EDL), the coal focused African energy
exploration and development company, today announces that it
exercised its second option on the Rukwa Coalfield project in south
western Tanzania, as per the agreement dated 16(th) August
2010.
This now takes the Company's interest in two prospecting
licences ("PL") and 66 primary mining licences ("PML") to 90% with
the remaining 10% held by the local partner on the project. The
second option payment was for a total of US$100,000.
Simon Rollason, Chairman of Edenville, commented today; "I am
delighted to announce that we have exercised our second option to
increase our interest in the Rukwa coalfield project. This clearly
demonstrates our belief that this exciting project has scope to
increase in size. To date we have identified a Maiden inferred
resource of 39 million tonnes which we expect to be expanded with
the resource category upgraded in parts, providing increased
confidence to the quantity and quality of Edenville's existing
resource at the Mkomolo coal project. Additional diamond core
drilling will be completed at Namwele and Muze during the current
field season."
Contact:
Edenville Energy plc
Simon Rollason - Chairman
Rakesh Patel - Finance Director
www.edenville-energy.com +44 (0) 20 7099 1940
ZAI Corporate Finance Ltd
Ray Zimmerman/ Marc Cramsie +44 (0) 20 7060 2220
Newgate Threadneedle
Grahame Herring/Richard Gotla +44 (0) 20 7653 9855
This information is provided by RNS
The company news service from the London Stock Exchange
END
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