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Edenville Energy shares rise on coal sales contract

"I am very pleased our team have been able to work alongside this customer to ensure their needs are met"
coal
Edenville will supply 4,000 tonnes of coal per month

Edenville Energy Plc (LON:EDL) shares shot up 18% in early trading on Wednesday after the African coal group landed a supply contract.

A new two-year contract sees Edenville supply 4,000 tonnes of coal per month.

READ: Edenville shares soar on US$455mln World Bank funding

The contract’s pricing is based on calorific content, and, the company said the coal is expected to have a gross calorific value greater than 4,800 kCal/kg.

"I am very pleased our team have been able to work alongside this customer to ensure their needs are met and that the company can look forward to supplying the customer coal for at least the next two years,” said Rufus Short, Edenville chief executive.

“I look forward to providing further updates on the progress of the operation as we expand and enter into further contracts."

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