(Ecofin Agency) - Edenville Energy raised £500,000 to advance exploitation works at its Rukwa coal project, in Tanzania. The operation was conducted through the placement of 125 million new ordinary shares at 0.4p per share, and by issuing 62.5 million warrants at 0.54p a warrant.

“Our primary focus remains developing our Rukwacoal-to-power project, which will be able to fully exploit ourcoal resource, but moving into production will both provide an income stream for the company and demonstrate the quality of ourcoal,” said Edenville CEO, Rufus Short

The Rukwa project includes three deposits knowingly Namwele, Mkomolo and Muze, located at the Rukwa coal field in which the company owns a 90% interest, with remaining 10% owned by a local investor. In June 2014, the AIM-listed company obtained an Environmental Compliance Certificate enabling it to operate Namwele and Mkomolo deposits.

Louis-Nino Kansoun