SECTOR – MINING
RATING – CORP*
MARKET CAP – £8.5m
CURRENT PRICE – 0.77p#
Coal Marketing Agreement Signed
NORTHLAND VIEW
Edenville Energy has entered into a marketing agreement with a UK company with links to African energy and commodities trading. For commercial reasons the agent’s identity remains confidential.
The agent will be working non-exclusively alongside Edenville to advance negotiations with parties interested in coal from Rukwa. The agent will be responsible for introduction, liaison and where appropriate, management of coal sales and delivery. The agent will be remunerated on a commission basis on completed sales.
The agreement has an initial timeframe of two years and can be renewed by mutual consent.
On site the coal screen has now been tested and is operational and the wash plant frame drum and launder are now assembled and work is advancing on the assembly of the conveyor infrastructure.
A positive update from Edenville Energy, which is expecting production imminently at its Rukwa Coal Project, located in Tanzania. Increasing the number of routes to market for Edenville’s coal will improve the Company’s monetisation of its coal, so it makes sense in our view for the company to hire an agent to work on a commission basis.
COMPANY DESCRIPTION
Edenville Energy is moving the Rukwa Coal Project towards near-term production alongside advancing its Coal to Power Project.
SECTOR – MINING
RATING – CORP*
MARKET CAP – £8.2m
CURRENT PRICE – 0.38p#
Calidus Commences Diamond Drilling
NORTHLAND VIEW
Calidus Resources, a company that Keras Resources owns a 30% interest in, has commenced a diamond drill programme that will run in-parallel with the continuing reverse circulation drill programme at the Warrawoona Gold Project, located in Australia.
The programme will consist of nine holes in the main Klondyke Shear, Copenhagen, Coronation and Fieldings Gully deposits and is designed to provide information on structural geology and metallurgy. This diamond drill programme has been planned to assist in the generation of a revised Mineral Resource Estimate before the end of the year. Once Calidus defines an Indicated Mineral Resource Estimate of 500,000oz Au, Keras will be awarded 241.25m shares in Calidus increasing Keras’ holding to 50% of Calidus.
COMPANY DESCRIPTION
Keras Resources is an exploration company with interests in gold projects, located in Australia, a manganese project and a cobalt-nickel project, located in Togo.