Kibo Mining PLC (LON:KIBO) is confident it will find investors for its Mbeya (MCPP) thermal power station in Tanzania after a new study showed higher potential returns.
The bankable feasibility study pulled together all elements of the project from the coal mine through to the power station.
Kibo said the integrated bankable study (IBFS) reduced the capital costs by 21% while returns on the project were between 14.7% and 16% after tax.
Elsewhere, Alliance Pharma PLC (LON:APH) said revenues had more than doubled and trading profits for the year were in line with City forecasts as it provided investors with a progress report.
The specialty pharma company said it expects sales to be £97.5mln for the 12 months ended December 31, up from £48.3mln a year earlier.
The boost was provided by the acquisition of Sinclair Pharma’s healthcare products business in late 2015 for £132mln.
Providence Resources PLC (LON:PVR) has told investors that it expects to start drilling the potentially high impact Druid exploration well in June.
The Druid prospect is one of two big exploration targets located within Frontier Exploration Licence 2/14, in the Atlantic Margin off Ireland’s west coast – the other is called Drombeg.
In other news, MySQUAR Limited’s (LON:MYSQ) busy run of product releases continued on Monday after the Myanmar-focused social media and entertainment group soft launched its new gaming platform, Lucky Wingabar.
The platform will initially have five games casual games included when users download the app, with more games added periodically.
An official launch is expected within three weeks.
Shares in Rex Bionics PLC (LON:RXB) strode higher in early deals as the robotic exoskeleton specialist announced the impending start of a new clinical trial.
The pioneer of the REX Robot technology, which enhances the mobility of wheelchair users, said the ethics committee of the UK National Health Services' National Institute for Health Research has approved the start of a clinical trial to evaluate the use of the REX robotic mobility device in patients with multiple sclerosis (MS).
And finally, Landore Resources Ltd. (LON:LND) hailed the results of metallurgical testing on samples taken from its BAM East gold prospect at Junior Lake, Ontario.
Drill core material, in the form of two composites of 28 samples weighing a total of 67 kilograms, was submitted for analysis.
Combined gold recovery by gravity concentration followed by cyanidation leach extraction of the gravity tail averaged about 98% for both composites tested, Landore said.