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Kibo Mining assures investors Mbeya project is ‘on track’

A ‘process clarification and timeline’ will soon be shared with investors, and it will give more insight into the complexities and workflow interdependencies of the project.
Kibo Mining assures investors Mbeya project is ‘on track’
Kibo shares rallied 7.4%.

Kibo Mining (LON:KIBO) has issued a stock market statement to reassure investors that the Mbeya Coal to Power Project (MCPP) remains ‘on track’.

“The company would like to reassure shareholders that timelines related to the project remain on track, specifically in relation to the timely delivery of the definitive feasibility studies (DFS) on the power and mining elements of the MCPP and the MCPP Integrated Bankable Feasibility that will follow completion of the DFS,” it said.

The AIM quoted mine developer said it is currently working on a process clarification and timeline, to be shared via its website, which will give investors ‘clear understanding and outline of the current and future status of the MCPP’.

It added: “This will provide more insight into the complexity and various workflow interdependencies within the process and the timeline will enable shareholders to visualise and follow progress at the project.”

On AIM, Kibo Mining shares advanced 7.4% to 3.62p.

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