Source - SMW
Kibo Mining posts a pre-tax loss of £2.3m for the six months to the end of June compared with £913,891 a year ago.

Highlights:

- Key feasibility studies on the Mbeya Coal to Power project completed with strongly positive results

- Agreement reached with SEPCO III granting it sole bidder status for the MCPP EPC contract for refund of 50% of development costs incurred by the Company to date

- Agreement reached to convert Sanderson loan of £1.5m into a 2.5% equity interest in the MCPP project company demonstrates confidence in the project

- Recent appointments of reputable advisors and agreement with GE International has given renewed momentum to MCPP as it approaches financial close

- Plans well advanced to spin-out Imweru gold project into a new AIM & JSE listed company, Katoro Gold Mining Limited, raise funds and commence mine development




At 9:21am: (LON:KIBO) Kibo Mining share price was -0.13p at 8.13p



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