A Clear Strategy for Value
Kibo Mining plc (“Kibo” or the “Company”) is a Tanzania-based minerals exploration and development company, focused on realising value from the Mbeya Coal to Power Project (MCPP) (formerly known as Rukwa Coal to Power Project) and the Imweru gold project, as well as holding one of the largest exploration land packages in the country with assets spanning coal, gold and and nickel-platinum group metals.
Kibo’s strategy for Mbeya is closely aligned with the interests of the Tanzanian government, which has an urgent requirement for new sources of power to support its rapid growth. We will leverage our expertise and existing stakeholder relationships – technical, financial and governmental – to advance Mbeya through to production and power generation. Important steps on this development path were realised during 2014 with the commencement of a Definitive Feasibility Study (DFS) on the project and the completion of preliminary DFS technical and financial reports, the results from which were very favourable to a successful development.
The Imweru gold project is the most advanced project within the Company’s regional Lake Victoria Project mineral licence portfolio located in this proven gold prospective region of northern Tanzania where a number of operating gold mines are in production. Imweru comprises a 515,110 oz JORC-compliant gold Mineral Resource on which Kibo has begun a Definitive Mining Feasibility Study (DMFS). The first stage of this DMFS, a Preliminary Economic Assessment (“PEA”) was completed in December 2014 by mining consultants, Minxcon of South Africa. The results of the PEA have provided independent preliminary confirmation of the economic feasibility of developing a gold mine at Imweru from the current Mineral Resource and of further extending the base case mine life by delineation of additional gold resources for which excellent potential exists. The Company is now on a development path to put Imweru into production and realize early cash flow for which the results of high level economic modelling to date have been very positive.
Kibo’s diversified asset portfolio gives investors exposure to short-term, medium-term and long-term returns and provides the Company with options in terms of developing assets internally, joint-venturing or realising value through asset disposals on attractive terms.
Please refer to the RNS news releases in the News Section of the website and Webcasts in the Investor Relations Section for the latest updates on progress across all Kibo’s projects.
Total Area: 2,000 sq/km
Resource: 121 Mt
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Total Area: 1,500 sq/km
Resource: ~700,000 oz. Gold (Imweru & Lubando projects)
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