20 January 2016
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company, is pleased to announce the results from Phase 1 of Stage 2 of the Mbeya Definitive Mining Feasibility Study (MDMFS). This is a critical work stream of the final stage of the broader Mbeya Coal to Power Project (MCPP), Mining Feasibility Study.
Key highlights
- 820 meter geotechnical diamond core drill programme confirmed slope angles of pit design to be well within safety requirements;
- Programme results provided unexpected opportunity to further improve and optimize pit design;
- Programme results confirmed decision not to do any river diversion as viable and prudent; and
- Restatement of Mbeya Coal Resource
Louis Coetzee, CEO of Kibo Mining, said: “We are very pleased with the latest results and also with the overall progress of the MDMFS. Since announcing the very first set of results from the concept study and with every announcement since, the MCPP has consistently demonstrated that it is a project with considerable financial and technical substance. This will stand us in good stead during the coming weeks when we work on finalizing the power purchase agreement and other commercial agreements associated with the MCPP.”
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[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https://kibo.energy/wp-content/uploads/Final-RNS-MCPP-DMFS-2nd-Update-pdf.pdf” btn_target=”_blank”]Mbeya Definitive Mining Feasibility Study: Results from Geotechnical Drill Programme Received[/ott_teaser]