Unless KIBO get the mining licence application in by September I can't see them having it by year end.
This really is a tortoise hare scenario, Edenville have been quietly going about their business getting the building blocks in place, KIBO have been shouting about the smallest of achievements.
Expanded coal resource announce before month end. Mining licence approval in September 2015. Already visited Tanzania with EPC SEPCO, where "SEPCO2 and Edenville took part in discussions with Tanzanian government organisations, engineering contractors and construction material suppliers." So basically SEPCO are asking if local material suppliers can get the materials they need, so SEPCO know exactly what the want to build, they just need to know how much coal is there and that they can legally get it out of the ground once mining licence approved.
The timeline for Kibo’s license/permit approval is contained within the shareholder’s presentation as above. It indicates mid Q4 which I would take as Mid November so I would expect communication from their side of application at any time very soon. Kibo, to be fair is one of the best companies I have ever been involved with when it comes to shareholder communication and so far this year have kept to their promised timelines. The mention of 3 licenses was a statement made by EDL in an RNS but forgive me as I am unable to find it right now. I believe it was communicated at some point in March/April? I don’t believe this is a competition between the two parties as FACT: Tanzania need LOTS OF POWER so there is room for a number of power stations IMO…
Kibo recently changed the name of their so-called "Rukwa Coal To Power Project" (exactly the same name as EDLs) because both companies were using the same name. EDL got there first and so my thinking is that Kibo were asked by the Tanzanian authorities to change the name of theirs.
This bodes very well for EDL seeing as they got there first, it appears they might be getting priority in things such as this and potentially much larger issues - such as mining licences... we shall see
JDWAG - Erm - yes it is. Where are you getting your information about Kibo getting their licence by the end of 2015 please? They may have funding but where is the mining licence? They haven't applied for one and EDL's when issued very soon, will be only the 3rd issued in the whole of Tanzania. Am I missing something? What stage is Kibo's licence application at?
My feeling is that Kibo might well have to start being really nice to EDL once EDL have their licence in place - its a wait and see game and it is Africa so until you have the money in the bank, anything can happen. So to be fair to say that Kibo will have their licence by EOY is hoping for rather a lot no?
Thanx Sau for your help. I did look the Kibo recent RNS (12-Aug). It mentioned Rukwa coal deposit, but giving a different name. Never mentioned EDL. I feel a bit discomfort able that both companies are connected with SEPCO. Are both EDL+Kibo planning to built coal power plant? If yes, how Tanzania gov's position? support both or only one?
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.