29th Apr 2016 09:31
LONDON (Alliance News) - Kibo Mining PLC on Friday said the review of the Mbeya Coal to Power Project's power definitive feasibility study has been completed.
The Tanzania-focused mineral exploration and development company said the final and official PDFS report will be delivered on Monday.
Kibo also said it has issued 180,778 shares at 4.88 pence each in settlement of invoices from service providers for geological and investor relations services totalling GBP8,822.
"We are extremely pleased to have completed the PDFS on schedule and within budget. The PDFS constitutes the most important component of the MCPP and is the foundation for the MCPP's entire business case. This milestone in the development of the MCPP is a critical achievement in advance of the financial close," Chief Executive Louis Coetzee said in a statement.
Shares in Kibo were trading up 0.9% at 5.17 pence on Friday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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