Business
Results for the Year Ended 31 December 2013
Results for the Year Ended 31 December 2013.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 6447I Edenville Energy PLC 03 June 2014 \n \n\n \n3 June 2014\nEDENVILLE ENERGY PLC (\"Edenville\" or the \"Company\") (AIM:EDL),\nResults for the Year Ended 31 December 2013\nEdenville Energy plc, the African coal exploration and development company, today announces its Results for the year ended 31 December 2013. \nHighlights for the period \n· Upgraded, JORC-compliant Mineral Resource Estimate for the Rukwa Coal Project published March 2013.\n· Equity Financing Facility agreement with Darwin Strategic Limited March 2013.\n· Rukwa Coal Project Scoping Study confirming viability of small scale, mine mouth power station, published September 2013.\n· Submission of final Environmental Impact Assessment ('EIA') for starter pit at Rukwa Coal Project, September 2013.\n· Appointment of Rufus Short as CEO, September 2013, Mark Pryor retained as NED and Technical Advisor.\n· Strategic shift to focus on larger scale power station (100MW+) to capitalise on proposed roll out of new power grid in line with the Government of Tanzania's stated strategy. \nFinancial\n· Net Assets £8,336,192 \n· Current Cash £850,000\n· Drawdown of £106,895 in April 2013 and a further drawdown of £390,000 in September 2013 under the Darwin Equity Financing Facility. \nPost period Highlights\n· Continuing discussions with potential development partners.\n· Placing completed of 1,428,571,428 new ordinary shares raising £1million, January 2014.\n· Continued focus on cost management; relinquishment of four non-core Prospecting licenses, March 2014, producing estimated savings of approximately $1 million over the next 12 months. \n· Moving the Rukwa coal-to-power project into feasibility stage.\n\n\n \nEnquires\n\n\n\n\nEdenville Energy plc \nSally Schofield - Chairman\n  ...