# Edenville Energy PLC Focused on development of Rukwa Coal to Power Project

- Link: https://www.directorstalkinterviews.com/edenville-energy-plc-focused-development-rukwa-coal-power-project/412724462
- Published: 2017-02-24T07:05:50+00:00
- Author: Giles Arbor

**Edenville Energy plc** (LON:EDL) announced today that as the Company is now concentrating
on advancing activities at its Rukwa coal deposit, the Company’s exploration prospecting
licence for uranium has been relinquished. This Matiri South licence (PL6147/2009)
covers 28.5 sq km and was originally acquired for shares at the time of the Company’s
admission to AIM in 2010. After initial investigation the licence area appears to
contain little indication of economic mineralisation and no further work has subsequently
been undertaken in connection with this licence.

Relinquishment of this licence will reduce Edenville Energy PLC work and licence
fee commitments over the next 12 months by approximately US$32,000 and allow technical
and financial resources to be focused on the development of the Rukwa Coal to Power
Project and the commencement of mining operations. As a result of the decision to
relinquish this licence, an impairment charge, in accordance with the Company’s 
accounting policies and IFRS, is expected to be made to the statement of comprehensive
income in the Company’s financial statements for the year ended 31 December 2016.
The Company will announce its annual financial results for the year ended 31 December
2016 at the end of May 2017.

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