Stock Market News
Edenville in a 'strong position' searching for long term contracts
Edenville Energy shares jumped more than 10% after the company provided an update on several new contracts at its Rukwa coal development project in Tanzania on Tuesday.
The coal mining and power company has secured a one year contract to supply a minimum of 2,000 tonnes of coal per month to an East African industrial user, along with a slew of trial orders with other potential customers for a further several thousand tonnes per month.
One such trial order, for 4,000 tonnes, will result in a further contract for 60,000 tonnes over a six month period if the initial batch is deemed suitable.
Edenville Energy chief executive Rufus Short said: "We believe we are in a strong position as a coal producer in Tanzania. Whilst our current production is mainly under one off contracts with potential longer-term customers, we are confident that a sufficient number of these orders will lead to longer-term contracts. This coal is being sold at commercial market rates, similar to those rates we expect for longer-term deals."
After commencing production at the project back in October, Edenville is now receiving payments for shipments made in late 2017.
Edenville Energy's shares were up 12.84% to 0.46p at 1003 GMT,
The coal mining and power company has secured a one year contract to supply a minimum of 2,000 tonnes of coal per month to an East African industrial user, along with a slew of trial orders with other potential customers for a further several thousand tonnes per month.
One such trial order, for 4,000 tonnes, will result in a further contract for 60,000 tonnes over a six month period if the initial batch is deemed suitable.
Edenville Energy chief executive Rufus Short said: "We believe we are in a strong position as a coal producer in Tanzania. Whilst our current production is mainly under one off contracts with potential longer-term customers, we are confident that a sufficient number of these orders will lead to longer-term contracts. This coal is being sold at commercial market rates, similar to those rates we expect for longer-term deals."
After commencing production at the project back in October, Edenville is now receiving payments for shipments made in late 2017.
Edenville Energy's shares were up 12.84% to 0.46p at 1003 GMT,
Related share prices |
---|
Edenville Energy (EDL) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price