KIBO MINING: Promising projects
[Financial Mail 12 Feb 2015 – Johannesburg http://www.financialmail.co.za/]
DIVERSIFIED Tanzanian minerals explorer Kibo Mining has not yet decided whether it will retain stakes in its various projects as they mature. But it is most likely to keep an interest in its Rukwa coal mine to power station project, says CE Louis Coetzee.
Author: Patrick Cairns
[Moneyweb – 19 January 2015 – http://www.moneyweb.co.za/]
CAPE TOWN – One of the dominant stories on the JSE over the last year has been the poor performance of listed miners. Their share prices have taken a hiding almost across the board.
Kibo shares lift on prospect of study spawning early gold production
JOHANNESBURG (miningweekly.com) – The share price of Kibo Mining rose by more than 11% in Johannesburg on Tuesday on the prospect of a commenced definitive feasibility study opening the way for early gold production at the company’s Imweru prospect, in Tanzania.
Kibo attracting believers
Shares in Kibo Mining made an extraordinary leap in one day in mid-September gaining 133% an improvement of such scale as to suggest the London- and Johannesburg-listed gold and energy company has attracted some believers within the investment parish.
On a 12-month return basis, the gains in the company’s shares have been ever better, appreciating more than 300%, which is another positive signal that the share is not responding to short-term zealous enthusiasm. But why the improvement?
For all the problems attached to Eskom these days, thermal coal supply to the utility is still considered a good business proposition. That’s a view partly based on the fact that Eskom is willing to pay better prices than in the past for thermal coal supplied to it owing to the competition provided by offshore buyers, such as the Indian utilities.
The Tanzanian Ministry of Energy and Minerals has included Kibo Mining’s Rukwa coal-to-power project as a strategic component of the Tanzanian government’s National Energy Strategy.