Kibo Energy PLC (LON:KIBO) has power generation assets in the UK and Africa
Company is expecting to publish DFS on Benga project in Mozambique shortly
Building a presence in UK intervention market
What it is developing
Two thermal coal power projects in Botswana (Mabesekwa) and Mozambique (Benga).
A UK focused flexible energy portfolio (MAST)
Advanced coal-to-power project in Tanzania (Mbeya).
Katoro Gold (57.6%), separately listed on AIM and a nickel eplorer in Tanzania
How is it doing
At Benga ( Mozambique, Kibo 65%) the company is now working on finalising the coal supply agreement and power purchase agreement with private off-takers.
Mabesekwa (Botswana, 85%) is at the feasibility stage, following the completion of a mining scoping study, which highlighted a 30-year life of mine, and a power pre-feasibility study indicating maximum power capacity of 600 megawatts (MW) based on a coal delivery rate of 3.2mln tonnes a year.
At Mbeya in Tanzania, Kibo has received seven new mining rights subject to it remitting all required statutory payments.and it is makinag progress securing offtake deals for any power from the plant.
Kibo also has a collaboration deal with STEAG which envisages a co-operation to develop the AIM-firm’s energy portfolio.
The company said that the partnership with the STEAG Energy Service (SES) group, as independent power producer, brings "world class operating and engineering expertise, experience and capability to Kibo's strategic development capacity".
Mast (60%) has identified various "shovel ready" sites capable of sustaining gas-fired power generators and ancillary structures from 20Mw upwards.
Kibo recently took 100% ownerhsip of 5Mw Bordersley reserve power generation project.
Commercial production scheduled to begin at the end of the first quarter next year (2020).
What the boss says
“We have four key projects which we are developing in parallel: two thermal coal power projects in Botswana and Mozambique, a UK focused flexible energy portfolio and an advanced coal-to-power project in Tanzania.
"Each holds significant value, which I don't believe is reflected in the current share price”
The definitive feasibility study at Benga to be published after the company received a report earlier than expected in March
Power purchase agreements signed for Benga
Off-takers for Mbeya signed
Bordersley comes onstream in early 2020
Designs for Mbeya and Benga chosen as a blueprint for other thermal power station developments in southern Africa
Intervention business in UK to grow substantially
At 0.78p, company is valued at £6.6mln