StockMarketWire.com - Edenville Energy said it was confident it can reach terms with Lind on an outstanding $580,000 payment, but warned failure to agree terms would cast material doubt on its financial future.

'Should Edenville be unable to agree mutually agreeable terms with Lind, there may be material uncertainty regarding the company's ability to continue as a going concern,' the company said.

But at this current time it was 'premature to reach any conclusions. There are no assurances that these discussions will result in a favourable outcome for Edenville,' it added.

The company entered talks over the payment last month after Lind initially requested that it repay the total outstanding balance of the funding agreement by 30 November 2020.

The company also said the hand over of operations at its Rukwa mine to strategic partner Infrastructure and Logistics Tanzania, which had been expected to be completed end of November 2020, would be delayed amid administrative issues relating to work permits between the Tanzanian Government and ILTL.

'Both parties expect these administrative issues to be resolved in the short term and a further announcement regarding the new commencement date will be made as soon as it has been confirmed,' it added.




At 8:12am: [LON:EDL] Edenville Energy PLC share price was 0p at 0.03p



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