JOHANNESBURG (miningweekly.com) – Aim-listed Edenville Energy placed 500-million new ordinary shares of 0.02p apiece to raise funds to complete the mining licence application process for its Rukwa coal project, in Tanzania, as well as moving discussions with interested partnership groups forward.
The company also placed 500-million warrants exercisable at 0.07p a warrant.
It raised £250 000.
The parties who participated in the raising were experienced in building large-scale coal-to-power projects and some of the groups were already active in the East Africa region, the company said on Monday.
Application would be made for the shares to be admitted to trading on Aim, effective August 14. Following the placing, the issued share capital of the company will be 8.42-billion.