Dated: 01 April 2015
Kibo Mining Plc (“Kibo” or the “Company”) (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to update the market with regard to the latest operational developments at the Company’s flagship project, the Rukwa Coal to Power Project (“RCPP”).
Highlights
- Commencement of Phase 2, Stage 1, Definitive Mining Feasibility Study, (Mining Pre – Feasibility Study) of the RCPP;
- Site visit by Qualified Persons (“QP”) to the Rukwa Coal mine site confirms conclusions and assumptions published in Phase 1, Stage 1, Definitive Mining Feasibility Study results;
- Continuing rapid progress in the commercialisation of the RCPP through Feasibility Study progress and development partner negotiations.
Louis Coetzee, Chief Executive Officer of Kibo Mining plc, commented: “It is pleasing to confirm to market the continuation of Feasibility Study work at the RCPP, particularly as successful completion of this work is a vital step prior to mine construction and power generation.
The Kibo team is keen to maintain the rapid progress we have achieved recently, and this proactive approach to completion of the Feasibility work is welcomed by all the current and prospective RCPP stakeholders. This includes the Tanzanian government, who has been of great assistance in achieving the progress to date, and also the potential development partners with whom we are finalising negotiations.
On the development partner front, the intensity of discussions and negotiations has continued since our last update and the company has secured a number of final proposals from potential partners. We hope to have a further detailed update for the market shortly.”
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[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https://kibo.energy/wp-content/uploads/Final-RNS-MPFS-First-Update.pdf” btn_target=”_blank”]RCPP – Operational Update[/ott_teaser]