{"id":5773,"date":"2016-06-02T06:03:19","date_gmt":"2016-06-02T06:03:19","guid":{"rendered":"https:\/\/kibo.energy\/?p=5773"},"modified":"2016-06-02T06:03:19","modified_gmt":"2016-06-02T06:03:19","slug":"kibo-signs-mou-lake-victoria-gold-ltd-fast-track-development-imweru-gold-project","status":"publish","type":"post","link":"https:\/\/kibo.energy\/index.php\/kibo-signs-mou-lake-victoria-gold-ltd-fast-track-development-imweru-gold-project\/","title":{"rendered":"Kibo Signs MOU with Lake Victoria Gold LTD to Fast Track Development of the Imweru Gold Project"},"content":{"rendered":"<h5><strong>02 June 2016<\/strong><\/h5>\n<p style=\"text-align: justify;\">Kibo Mining plc (\u201cKibo\u201d or the \u201cCompany\u201d) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that it has signed a Memorandum of Understanding (\u201cMOU\u201d) with Lake Victoria Gold LTD (\u201cLake Victoria\u201d) to consolidate the companies\u2019 respective Imweru and Imwelo gold projects.<\/p>\n<p style=\"text-align: justify;\"><!--more--><\/p>\n<p><strong>Highlights<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">Kibo and Lake Victoria Gold LTD (\u201cLVG\u201d) agree MOU to amalgamate Kibo\u2019s Imweru Gold Project and LVG\u2019s directly adjacent Imwelo project into a new company (\u201cNEWCO);<\/li>\n<li style=\"text-align: justify;\">Board of NEWCO to comprise mix of Kibo and Lake Victoria management which will combine significant experience across exploration and mine development;<\/li>\n<li style=\"text-align: justify;\">Total combined JORC compliant stated resources of approximately 755,300 ounces;<\/li>\n<li style=\"text-align: justify;\">Based on upside potential identified in existing Imweru CPR, the combined project will provide NEWCO with the potential to achieve &gt;1 million oz. resource in relative short time frame;<\/li>\n<li style=\"text-align: justify;\">Production target of 50,000 oz. of gold per annum within 12 to 18 months of forming NEWCO, targeting 100,0000 oz. per annum within 24 to 30 months;<\/li>\n<li style=\"text-align: justify;\">Existing LVG mining right will also cover Kibo Imweru project after amalgamation under existing provisions of Tanzanian Mining Act for continuous mineral deposits.<\/li>\n<\/ul>\n<h5><strong>Download Full Report<\/strong><\/h5>\n<p>[ott_teaser btn_text=&#8221;Download&#8221; btn_icon=&#8221;icon-right-big&#8221; btn_url=&#8221;https:\/\/kibo.energy\/wp-content\/uploads\/Final-RNS_Imweru-MOU_V3.0_010616.pdf&#8221; btn_target=&#8221;_blank&#8221;]<strong>Kibo Signs MOU with Lake Victoria Gold LTD to Fast Track Development of the Imweru Gold Project<\/strong>[\/ott_teaser]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>02 June 2016 Kibo Mining plc (\u201cKibo\u201d or the \u201cCompany\u201d) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that it has signed a Memorandum of Understanding (\u201cMOU\u201d) with Lake Victoria Gold LTD (\u201cLake Victoria\u201d) to consolidate the companies\u2019 respective Imweru and Imwelo gold projects.<\/p>\n","protected":false},"author":31,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[47],"tags":[],"class_list":["post-5773","post","type-post","status-publish","format-standard","hentry","category-news"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/comments?post=5773"}],"version-history":[{"count":1,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5773\/revisions"}],"predecessor-version":[{"id":5774,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5773\/revisions\/5774"}],"wp:attachment":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/media?parent=5773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/categories?post=5773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/tags?post=5773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}