Edenville Energy (LON:EDL) – CORP: Announcement by Tanzanian Ministry
Market Cap: £2.2m; Current Price: 0.02p
Tanzania to ban coal imports
Tanzanian Government expected to ban coal imports into Tanzania.
Possible near-term production and supply opportunities exist for Edenville.
Rukwa Coal Project well positioned to move rapidly into production.
NORTHLAND CAPITAL PARTNERS VIEW: As of 10/08/16 the Tanzanian Ministry of Energy and Minerals (MEM) has banned the import of coal into Tanzania to stimulate the production of coal from within Tanzania. The Government has also indicated that they want to promote increased investment in the Tanzanian coal sector. This ban could prove to be a significant opportunity for Edenville Energy, as the Company has a mining licence over the Mkomolo deposit and it can also extract ore from the Namwele deposit were mining previously occurred. Edenville also has a valid Environmental Impact Assessment Certificate and, as a result, is well placed to investigate early coal production. The Company has now received quotations for mining and infrastructure at the project and is reviewing these, as well as, revising its bulk sampling programme to look for additional areas that may be suitable for near-term coal production.
Sunrise Resources (LON:SRES) – SPECULATIVE BUY: Nevada IM update
Market Cap: £2.4m; Current Price: 0.22p
Evaluation work underway at the County Line Diatomite Project
At the County Line Diatomite Project, which is under lease to EP Minerals, evaluation work is underway with several drill holes and a programme of trenching permitted. EP Minerals has paid the project claim fees for the year starting 1st September 2016.
At the Pozz Ash Project initial concrete tests have shown a relatively high water demand due to high clay content. For the pozzolan to have a commercial potential the clay content will need to be removed or the raw material calcined. Follow-up test work is underway to determine if the clay minerals can be separated from the glass particles or if calcination is required.
NORTHLAND CAPITAL PARTNERS VIEW: Should EP Minerals continue its lease agreement with Sunrise Resources at the County Line Diatomite Project after 02/06/2017 it must make an initial payment of US$450,000 to Sunrise. Should the project be developed Sunrise will receive a royalty, rasing the potential for regular cash flow for Sunrise.
Thor Mining (LON:THR) – CORP: Molyhil update
Market Cap: £1.6m; Current Price: 0.03p
50 hole drill programme to target four anomalies
50 hole aircore drill programme designed to test the bedrock through shallow alluvial cover targeting magnetic anomalies with similar characteristics to Molyhil.
Targets include; Solar Farm, Stock Yard, Think Big and Gap Track areas, all of which are located within 6km of the Molyhil deposit.
Low cost programme expected to cost A$100,000 and will commence in late August.
NORTHLAND CAPITAL PARTNERS VIEW: Thor Mining is upping its work programme at Molyhil following the improvements in the APT price and renewed interest in the sector. This latest drill programme will test four anomalies that have similar characterises to the existing deposit at Molyhil.