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Kibo concludes sale of Kibo Nickel

27th November 2018

By: Creamer Media Reporter

     

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Aim- and AltX-listed Kibo Energy's Kibo Mining subsidiary has concluded the sale of Kibo Nickel to Katoro Gold.

Kibo Energy announced in June that it would sell Kibo Nickel to Katoro for 15.39-million shares valued at about £200 000 as part of its strategy to focus on its energy projects.

"While we recognise the potential of the Haneti nickel project, the board believes that it is better placed within Katoro’s portfolio as Kibo progresses towards becoming a leading regional energy company. This sale enables us to focus exclusively on the advancement of our portfolio of energy projects in Tanzania, Botswana and Mozambique," Kibo CEO Louis Coetzee commented this week.

Kibo Mining last year spun out its Tanzania-based gold assets into Katoro Gold.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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