Kibo Energy (KIBO) Flash Note Fleet of Foot ACF Equity Research 13012023
Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) a renewable, reserve energy, long duration energy storage (LDES) and biofuel company. As a fast kick off to its strategic review execution process Kibo stated on Wed 11 Jan 22 that it had appointed a new NED, changed NomAd, returned to trading on AiM, renegotiated and extended its bridge loan facility and will shortly update the market on its USE spinout and other strategic initiatives. The NED appointment of Ajay Saldanha is very supportive and the change of NomAd appears a better strategic fit.
Kibo Energy PLC Formerly known as Kibo Mining PLC. Kibo Energy PLC, formerly Kibo Mining PLC, is engaged in exploration for and development of coal and other minerals in Tanzania. The Company operates through two segments: mining and corporate. The mining segment operates in Tanzania. The corporate segment operates in Ireland, Cyprus, South Africa, Canada and the United Kingdom. Its projects include Mbeya Coal to Power Project, which is located in southern Tanzania, over 70 kilometers north of the regional town of Mbeya; Lake Victoria Project, which Imweru Mineral Resource located in northern Tanzania at the western side of the Geita Greenstone Belt within the Lake Victoria gold field, and Morogoro Gold and Pinewood Uranium Projects, which are located in central and southern Tanzania. It also holds a portfolio of earlier stage gold licenses and applications located within gold productive greenstone belts in the Lake Victoria Gold project. Through its subsidiary, Mast Energy Developments Ltd, it constructs power and communication line.
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