Kibo Mining raises £1.5m
JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining has raised £1.5-million through the placing of 25-million new ordinary shares at 6p apiece.
"We are very pleased to undertake this placing primarily because of the strategic advantage of bolstering our cash position at this key time in the company's development.
“This funding provides the company with a robust working capital position and will allow us to accelerate work on the company's exciting Imweru gold project, where a prefeasibility study is under way, as well as our Haneti nickel project, where we are keen to follow up on the
exciting geochemical results we received during February this year,” commented CEO Louis Coetzee.
He added that the company was determined to sustain parallel momentum on all of its projects, while it continued to advance its Rukwa coal-to-power project (RCPP), in Tanzania, up the value curve.
Kibo announced on Monday that it had entered into a deal with China-headquartered engineering, procurement and construction group Sepco III, which would earn a 15% stake in the RCPP in exchange for the provision of $3-million in funding to be used on the completion of a definitive feasibility study and other activities.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation