Edenville Energy (#EDL) - raises 200k at 0.04p, update on feasability study
- 2014-11-05 00:47:01
On January 17th, Edenville Energy (EDL) caused outrage among its shareholders when it placed £1.4million at 0.07p. This was a greater than 50% discount and illustrates exactly the problem, which faces cash strapped junior would-be miners. Without sufficient backing, the “assets” these companies own are, to all intents and purpose, worthless. Today, Edenville has hardly helped any attempts at making a value case for this stock, as it placed again. This time it raised £250,000 at 0.06p. Further dilution, for such a small amount and at this awful price further calls into question Edenville’s viability. Oh, but hang on moment, I heard its shareholders cry, what about the Expression of Interest the company signed only nine days ago? Well...
I met up with sally Schofield the chairman of Edenville Energy (EDL) the other day for a catch up quiz session on how her company is going.
AIM listed Kibo Mining (KIBO) has today announced that it has appointed Standard Bank to arrange funding for its Rukwa coal project in Tanzania. But this is only half the story – our contacts suggest that is far bigger news on the way by January which will see shares in both Kibo and Edenville Energy (EDL) move sharply higher. Both are buys, at 4.75p and at 0.19p respectively.
I met up today with Sally Schofield, the executive chairman of AIM listed Edenville Energy (EDL), and Rufus Short, NED, in the wake of today’s publication of a scoping study on the Rukwa coal project in Tanzania.


