Kibo Mining Acquires Survey Data For Haneti Nickel Project

LONDON (Alliance News) - Kibo Mining PLC shares were trading higher on Friday morning after the company said it has started an airborne geophysical data review for its Haneti nickel project in Tanzania.

Kibo has acquired the data from a recently-flown aerial geophysical survey conducted for the Geological Survey of Tanzania.

The data acquisition will provide a boost to exploration plans at the site, Kibo said, as it represents a big cost saving relative to Kibo independently commissioning the flight survey.

"We are pleased to advance the Haneti project in parallel to our work with prospective development partners at our Rukwa Coal to Power Project and our Imweru Gold Project. Further updates across the company's portfolio are expected to follow shortly," said Kibo Chief Executive Louis Coetzee.

Kibo shares were up 3.8% to 5.19 pence on Friday morning.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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