Aim-listed Edenville Energy has raised £300 000 by placing 600-million new ordinary shares of 0.02p each in the company at a placing price of 0.05p an ordinary share, through Brandon Hill Capital.
The gross proceeds will be used to supplement the company’s working capital following the decision to accelerate mining and processing at the Rukwa coal project, in Tanzania, by acquiring new trucks, as well as increasing shifts at the wash plant to increase overall productivity.