Kibo Mining PLC (LON:KIBO) has received an advanced draft of the integrated financial model for the Mbeya thermal power station project from its financial advisors ABSA/Barclays.
The review will now be adjusted to reflect the final quotes from SEPCO III and General Electric for the engineering and equipment supply parts of contract.
Final negotiations on these two elements are currently underway in Qingdao, China and Kibo expects a conclusion by 2 December, with a signed deal by the end of the month.
Louis Coetzee, Kibo‘s chief executive, said: "Initial results from the MCPP integrated financial model reconfirm the MCPP as a very robust project with strong economic, operational and technical integrity.”