Dated: 10 March 2015
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to announce positive findings from the Integrated Pre-Feasibility Study Report ("IPFS") for the Rukwa Coal to Power Project ("RCPP").
Highlights:
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Coal Mining and Power Generation technical reports now consolidated into single project report for the RCPP;
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RCPP demonstrated to be robust at key consolidated financial, technical and operational levels;
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Significant upward scalability in respect of power station size and life as well as additional coal use opportunities;
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The IPFS report completes this key technical stage in the ongoing feasibility work on the RCPP, with confirmation of the indicative commercial value of the project.
Louis Coetzee, CEO of Kibo Mining plc said "Completion of the IPFS marks a significant stage for the RCPP, drawing together the technical findings from the Coal Mining and Power Generation elements, into a consolidated report. The IPFS provides a further, more in-depth technical review stage, with the results once again confirming the robust nature of the RCPP and enabling the project to pass yet another milestone with flying colours.
With the validation of RCPP fundamentals the IPFS substantially increases confidence in the project, to the benefit of the Company and relevant third parties. Completion of this stage of the RCPP feasibility work considerably enhances the inherent value of the RCPP and is an important factor in finalizing commercial partner discussions.
We would reaffirm to investors that our commercial negotiations continue actively. We are managing this process carefully, with our main focus being the conclusion of a joint development agreement at the earliest possible opportunity. In this regard the Company recently held separate project site visits at the RCPP, with prospective partners. Further updates will follow."
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Rukwa Coal to Power Project - Positive Integrated Pre-Feasibility Study Report
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