Business
Final Results
Final Results.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 0452E Edenville Energy PLC 07 May 2013 \n \n\n \n7 May 2013\n \nEdenville Energy Plc\n (\"Edenville\" or the \"Company\")\n \nFull Year Results\n \nEdenville Energy plc (AIM:EDL), the coal focused African energy exploration and development company, today announces its audited results for the year end 31 December 2012\n \nHighlights\n \nOperational\n· Maiden JORC Compliant Resource Estimate for Mkomolo announced in April 2012\no Resource of 39 million tonnes (39Mt) at an average calorific value of 17 MJ/kg (float density - 2.0 and Yield - 26%)\no Quality of the coal confirmed as suitable, with appropriate processing, for coal fired power generation\n· Maiden drilling programme at Muze confirmed coal with similar characteristics to that defined in the Mkomolo JORC compliant resource\n \nCorporate\n· Second option exercised on the Rukwa Coalfield project in south western Tanzania \no Interest in two prospecting licences and 66 primary mining licences increased to 90% with the remaining 10% held by the local partner on the project\n· Rufus Short appointed Non-Executive Director\n \nFinancial\n· £10,094,602 net assets\n· £784,072 cash \n \nPost period\n· Upgraded resource of 173 million total tonnes in-situ at Mkomolo, Namwele and Muze combined, of which 57.5 million tonnes Measured and Indicated at 17.42 MJ/kg (float density = 2.0, yield = 34.4%)\n· Commencement of Scoping Study at the Namwele coal deposit\n· Access to discretionary £5million Equity Financing Facility entered into with Darwin Strategic Limited\no Initial tranche of £106,895 raised for working capital purposes in April\n· Sally Schofield appointed Chairman\n \nSally Schofield, Edenville Chairman, commented: \"We have made significant progress this year which has allowed the company to outline a strategy targeted at delivering value to shareholders. Establish...