26th Feb 2015 09:52
LONDON (Alliance News) - Metal Tiger PLC and Kibo Mining PLC on Thursday said their uranium joint venture in Tanzania has now started operation.
The two said the first funds under the joint venture agreement have been paid.
"Metal Tiger is pleased to report that its uranium joint venture with Kibo Mining has now commenced. The Pinewood portfolio provides an exciting opportunity for the company's direct project investment division, and we are pleased to be extending our working relationship with Kibo on an ongoing basis," said Metal Tiger Chief Executive Officer Cameron Parry.
Metal Tiger shares were up 6.3% to 0.85 pence on Thursday, one of the best performers in the AIM All-Share. Kibo shares were down 2.5% to 5.61p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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MTR.LKibo Energy