14th Oct 2014 07:11
LONDON (Alliance News) - Kibo Mining PLC Tuesday said the definitive feasibility study for the Imweru gold project in Tanzania has been started after it concluded an internal optimization study of the project.
In a statement, the gold, nickel, coal and uranium explorer and developer in Tanzania said the study for Imweru will run concurrently with the definitive mining feasibility study it is conducting at its Rukwa project, meaning both its main projects will be in early development.
It said the internal optimization study for Imweru had indicated that resource data gathered from previous exploration work is sufficiently robust to support viable gold production from Imweru in the near- to medium-term, subject to necessary feasibility work and mine planning.
Kibo has appointed Minxcon Projects to conduct the Imweru study. It estimates it will be completed within 12 months.
Kibo Mining shares were up 1.9% at 1.35 pence early Tuesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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