8th Apr 2015 08:08
LONDON (Alliance News) - Kibo Mining PLC on Wednesday said it has started a new study at the Imweru gold project in Tanzania.
Kibo said it has started a stage-one, phase-two pre-feasibility study on the Imweru project. It said a site visit by a qualified person confirms the conclusions and assumptions made in the preliminary economic assessment for the site.
"We continue to make rapid advances in the development of the company's flagship projects and it is therefore very pleasing to confirm to market the continuation of feasibility study work at Imweru, particularly as successful completion of this work is a vital step prior to mine construction and early production in the near term, but also towards securing development funding for the project," said Louis Coetzee, Kibo's chief executive.
Shares in Kibo were down 1.5% to 5.05 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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