Source - SMW
Edenville Energy (LON:EDL) was one of the sector's biggest fallers after posting a loss after taxation of £446,801 for  for the six-month period ended 30 June compared with £421,819 a year ago.   The total comprehensive profit for the period was £100,732, which included a gain of £547,533 arising from the translation of the Tanzanian subsidiary company accounts from US dollars to sterling.

Chief executive Rufus Short said: "The first half of 2016 further built the foundations for the future development of the Company's Rukwa coal to power project.  

"Significantly, in March 2016 the award of the mining licence over the Mkomolo deposit provided the cornerstone to move forward and crucially demonstrated the Tanzanian government's commitment to development of the coal industry in Tanzania.

"Since the national elections of October 2015 the government has been working to develop its policy and approach to coal and energy in the country.  Recently this has significantly moved forward with the government's directive to ban coal imports from the end of August 2016.  Additionally, the newly formed board of Tanesco has been working to define and implement an updated energy development policy.  

"With the above in mind, Edenville is continuing to complete the technical and environmental requirements for the development of its coal to power project.  The Company is awaiting the roll out of further policy initiatives by the government and Tanesco which will lead to completion of agreements and development timeframes.  Importantly we are also actively evaluating all opportunities that are arising due to the recent coal ban by the government." 

* * *

Horizonte Minerals (LON:HZM) has appointed Simon Retter as company secretary and chief financial officer (non-board) with immediate effect.  

Retter replaces the current company secretary and CFO Jeffrey Karoly, who is stepping down from the role to pursue new opportunities.

Retter has extensive experience in the public markets and mining sector, specifically, reverse takeovers, IPOs and secondary fundraising.  Starting his career at Deloitte and Touche LLP where he qualified as a chartered accountant, moving on to work for a number of London listed exploration and mining companies with overseas operations.  

The company thanked Karoly for his valued guidance and support during his time at Horizonte and wished him the best in his future endeavours.

* * *

Kibo Mining (LON:KIBO) has signed a memorandum of understanding with General Electric International Inc for the development of the Mbeya coal to power project. 

The MOU provides for GE and its affiliate companies to supply equipment, technology and services to the MCPP power plant, in addition to exploring opportunities where it can assist Kibo in bringing the Project to successful financial close. 

Kibo and GE are in discussions to set out in detail the terms and conditions of their collaboration into a binding agreement.

Kibo Mining chief executive Louis Coetzee said: "We are extremely pleased that we have established this relationship with GE, one of the largest and technologically advanced companies in the World. We are looking forward to working with GE and benefiting from its expertise and reputation in the power sector."

* * * 

The sector's biggest riser was Central Rand Gold (LON:CRND) -up by more than 34.7% in late trading. The biggest faller was Thor Mining (LON:THOR) - down by over 9%.

At 4:11pm:

(LON:BEM) Beowulf Mining PLC share price was 0p at 4.25p

(LON:BKY) Berkeley Energia Ltd share price was +1p at 46p

(LON:CEY) Centamin PLC share price was -5.7p at 136.1p

(LON:CHL) Churchill Mining PLC share price was +1.13p at 27.75p

(LON:CRND) Central Rand Gold Ltd share price was +0.38p at 1.53p

(LON:CZA) Coal of Africa Ltd share price was +0.04p at 3.29p

(LON:EDL) Edenville Energy PLC share price was -0.05p at 0.53p

(LON:FDI) Firestone Diamonds PLC share price was -0.25p at 45p

(LON:FRES) Fresnillo PLC share price was -31p at 1615p

(LON:GEMD) Gem Diamonds Ltd share price was +2p at 123.25p

(LON:HOC) Hochschild Mining PLC share price was -1.95p at 253.25p

(LON:HZM) Horizonte Minerals PLC share price was 0p at 2.33p

(LON:KIBO) Kibo Mining share price was +0.63p at 8.88p

(LON:KMR) Kenmare Resources PLC share price was -2.37p at 272.63p

(LON:THR) Thor Mining PLC share price was -0p at 0.03p

(LON:VED) Vedanta Resources PLC share price was -0.6p at 499.9p

Related Charts

Central Rand Gold (CRND)

-0.10p (-6.23%)
delayed 14:22PM

Edenville Energy (EDL)

-0.01p (-0.87%)
delayed 14:04PM

Horizonte Minerals (HZM)

0.00p (0.00%)
delayed 11:11AM

Kibo Mining (KIBO)

-0.13p (-1.67%)
delayed 14:42PM

Thor Mining (THR)

+0.00p (+10.00%)
delayed 15:10PM