King Coal!
Well as foretold the much awaited news has dropped.
The shareprice is rising so it must be good news.
Have a good read of the rns. A copy of which is posted below.
10 January 2011
EDENVILLE ENERGY PLC (“Edenville” or the “Company”)
Coal Exploration Update, Tanzania
Edenville Energy plc (AIM:EDL), the coal focused African solid energy exploration and development company, today announces the results from samples collected on the Rukwa Coalfields project in Southern Tanzania. The Rukwa Coalfields have previously been subject to small-scale coal mining operations, with the primary areas located at Namwele, Mkomolo and Muze.
Highlights
Ground surface investigations at Rukwa:
· Grab samples continue to demonstrate thermal quality coal
· Additional coal outcrop identified 3km west of known deposits
· Geological mapping and pitting reveal extensive strike at Mkomolo with coal observed over at least 2.5km
Revised drilling programme planned for Q2 2011
· Current percussion drilling only able to penetrate the top of coal seams
· Replacement drill rigs with greater depth and sample collection capability planned for resources delineation
· Drill targets will test both historic and newly identified coal seams during Q2 and Q3 2011
A total of 32 grab samples were collected from coal outcrops at the Rukwa Coalfield project during regional scale geological mapping in the area covered by the Namwele and Mkomolo deposits. The samples were analysed at the accredited Inspectorate Laboratory, Middleburg, South Africa. In addition to the known deposits and the exploration of potential strike extensions, two further areas of coal outcrops were identified and sampled approximately 3km to the west of the known occurrences. A summary of the results is tabled below;
| Location | Number of samples | Moisture | Ash | Volatile | Fixed Carbon | Sulphur | Gross Caloric Value | Geological Description | ||
| % | % | % | % | % | MJ/kg | kcal/kg | ||||
| Mkomolo | 8 | 9.99 | 24.24 | 28.26 | 37.51 | 2.10 | 19.28 | 4603 | Coal | |
| 2 | 8.60 | 52.27 | 19.10 | 20.03 | 0.44 | 8.89 | 2123 | Mudstone parting | ||
| 1 | 4.45 | 74.20 | 10.75 | 10.60 | 0.16 | 2.57 | 613 | Mudstone | ||
| Namwele | 11 | 7.26 | 26.76 | 27.68 | 38.29 | 3.98 | 20.00 | 4776 | Coal | |
| 3 | 6.63 | 52.92 | 19.77 | 20.68 | 0.49 | 9.79 | 2337 | Mudstone parting | ||
| 2 | 2.10 | 87.15 | 8.95 | 1.80 | 0.13 | 1.00 | 239 | Mudstone | ||
| Outcrop (3.5km west of Namwele) | 1 | 11.10 | 17.05 | 31.50 | 40.35 | 2.57 | 21.62 | 5163 | Coal | |
| 3 | 3.00 | 83.05 | 10.17 | 3.78 | 0.44 | 1.00 | 239 | Mudstone | ||
| Outcrop (3km NW of Namwele) | 1 | 9.60 | 23.95 | 27.30 | 39.15 | 2.33 | 19.81 | 4731 | Coal | |
Following these positive results from the outcrop sampling the Board of Edenville have taken the decision to replace the current shallow, percussion drill programme with a more extensive deeper drill programme using diamond and reverse circulation drilling. Such a programme will produce geological information and coal quality analysis data that can be used in a mineral resource estimation. The current shallow drilling is technically restricted to shallow depths, only penetrating the upper areas of the coal seams and cannot adequately test the down dip and lateral extensions of these deposits.
The Company continues to collected data from its programme of geological mapping, pitting and trenching to expose sub-cropping coal and the collection of representative samples. The work is focused along the strike of the Mkomolo deposit with additional detailed mapping of the Namwele pit currently in progress.
Simon Rollason, Chairman of Edenville, commented:-
“The current geological surface programme confirms the thermal quality of the surface coal at Namwele and Mkomolo in addition to identifying additional coal outcrop west of Namwele.
Following the examination of these surface results and the results from the shallow percussion drillholes, the Board believe it is appropriate to undertake a programme of deeper drilling, whereby results can be developed into a future resource estimate. In addition to Namwele, the Mkomolo deposit is a primary target for Edenville due to coal already being traced over a 2.5km strike length. Edenville will continue to further outline the extent of the coal mineralisation at Namwele and Mkomolo. Our objective is to generate maiden resource estimate at Namwele for an open pit coal mine by the end of 2011. Edenville’s strategy is to rapidly add value to our portfolio of assets through exploration and development. I look forward to announcing further results in the future, as work continues on the Edenville coal portfolio.”
Remember that AIM stock usually rises on good news then trends gentley back it’s known as a yoyo .
I never ACTUALLY wrote this piece/RNS I cut and pasted it from the London Stock Exchange. Hope that clarification helps our mis-guided friends the FTalphamorons.
Hola!
Daniel
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- EDENVILLE ENERGY PLC. Alert. News being sought. (brokermandaniel.com)
Good Morning Dan,
Thanks for updating us.
Share price seems like going down instead?
Any idea…
Kind Regards,
ABZ
Have a look at this video:
I reckon this could be a 50 bagger – yes a 50 bagger!! They have only drilled 3% of the total feild and found 15omt of good quality coal. Amazing potential this share!
Dan, have you heard of Vane Minerals (VML). Cheep as chips at the moment, few shares available, seriously undervalued with low market cap. Fantastic prospects. Chart looking extremely promising short term. Any info you could provide would be much appreciated by all holders.
Many thanks.
Dan,
Have you got any knowledge about the follwing stocks:
(NVTA.L) Noventa Ltd
(TYM.L) Tertiary Minerals
People are giving diff opinion about these two stocks. I would really appreciate your opinion about the above stocks.
Kind Regards,
ABZ
Dan give us a comment on the 2 rns’s,whys this taking such a beatin?
i follow you but am i trapped in here now i bought this morn at 2.55
EDL are a penny stock that have risen dramatically on expectation. Like all AIM stock they rise on news then fall as profit takers and day-traders close positions. It’s a classic trend and often gets repeated. It’s a yoyo penny share. More dilution doesn’t help. With the amount of stock in issue there’ll probably be a consolidation some time this year. Only my opinion of course. But there you go.
Dan
To be fair RNS has been due about 2 weeks as stated in the Times. This was always going to drop as punters didnt understand there would be no resource estimate on this report, that will come later in year.
I would buy in after placing is done which they will need to do to fund Q2 drilling.
Massive trade at 16.16pm………..41,500,000 shares
@ £892,250
Now that is what I call confidence in this share !
Hmmm yeah I think we all saw that?
Any ideas what that means? Seems like alot of people got played by the MMs?
hi bmd
leave it out with the foretold bit. if you want to help the small investor, why not try and find out for us what is going on with the MASSIVE trades in the last 2 days, that would be much appreciated by the many.
regards,
w.