Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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JD Also it could be much cheaper as when I spoke to LC he mentioned a few times that any new projects will benefit from the internal expertise Kibo built and also won't need to use expensive external consultants. He was planning to lean on the SEPCO and GE and tap into their knowledge in the space, for free
Yes, that’s how it looks, the BFS on MCIPP will be a damn site quicker than MCPP and I assume that is already in progress in all but name. Considering how well received the MCPP BFS has been then it may well be Tractabel dusting it down and rinse and repeat. I doubt this will do anything for the SP / MCAP on it's own, but still good to see positive progress. JD
Perhaps I am wrong but have we not been here before in a previous exercise. ''Like a circle going round and round in a never ending spiral''. Impressive that we have this power conglomerate of three, count them, three companies in our strategy of becoming a significant energy player in Africa yet not one of them earning a brass farthing. Please RNS us when you have something financially positive to shareholders to report. Still, I suppose it is progress of a sort.
Ok so next objective is to complete the BFS. I wonder what the time frame will be for that as I suspect it is pretty much a copy paste from the MCPP with the new ICPR figures added in. Yeah, I know nothing is so simple.. I would be surprised if the market takes any notice at this stage.
Kibo Mining Plc (Incorporated in Ireland) (Registration Number: 451931) (External registration number: 2011/007371/10) Share code on the JSE Limited: KBO Share code on the AIM: KIBO ISIN: IE00B97C0C31 ('Kibo' or 'the Company') Dated: 21 June 2018 Kibo Mining Plc ('Kibo' or the 'Company') Maiden SAMREC-Compliant Coal Resource Statement for Mabesekwa Coal Resource Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and resource company, is pleased to announce an update on its 85% controlled Mabesekwa Coal Independent Power Project ('MCIPP' or the 'Project') in Botswana, which it is developing with Botswana listed energy company Shumba Energy Limited ("Shumba"). The Project, which is being advanced in tandem with the Company's Mbeya Coal to Power Project ('MCPP') in Tanzania and Benga Independent Power Project ('BIPP') in Mozambique, is a part of Kibo's strategy of building a leading African focused power company. Feasibility studies on the MCIPP and Mabesekwa Coal Resource ("MCR") are advanced, with water and land use permits and environmental certification already in place and a pre-feasibility study ('PFS') on a coal mine and a scoping study on a coal fired thermal power plant completed. The Company has now received a Competent Persons Report ('CPR') on the Project, which includes a SAMREC-compliant Maiden Resource Statement on the excised 300 Mt portion of the MCR ('Kibo Mabesekwa Coal Resource' or 'KMCR'). The CPR was completed by independent geological and mining consultancy company, Gemecs (Pty) Ltd of South Africa. The highlights of the report include: · Maiden Coal Resource Statement for the KMCR indicating total mineable In-situ Coal Resource of 302.9 million tonnes (257.5 Mt attributable to Kibo on an 85% basis) as per the SAMREC categories below (Refer Table 1 below for detailed Coal Resource Statement) Results from simple washability indicate that there is potential to lower the ash content, increase the calorific value and lower the total sulphur content by washing the coal at an appropriate density (de-stoning) to maximize coal yields for use in a thermal power plant; and · Further testing from bulk samples obtained from existing and recently drilled large diameter hotels across the coal deposit (includes MCR and KMCR) by Shumba Energy, has yielded results which demonstrate that favorable coal quality can be achieved through industry standard beneficiation processes. This will provide suitable coal products for coal to power generation with low sulphur content. Kibo CEO, Louis Coetzee, said: "With a SAMREC compliant 303Mt coal Resource and a confirmed coal quality we have a key pillar completed for the BFS for the MCIPP. We are working closely with Shumba and have already made progress in bringing this project to fruition. With water and land use permits and environmental certification in place, as well as a PFS on the coa
Details of coal in Bots
We now have three energy projects and are building our strategy of becoming a significant energy player in Africa, utilising our international network of blue-chip companies with the ability to deliver turnkey projects to address the acute African power deficit."
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