Report

Kibo Energy (KIBO) Flash Note Tanzania MoU ACF Equity Research 23112022

Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) has changed to a renewable, reserve energy, long duration energy storage (LDES) and biofuel company. Kibo’s RNS of 23 Nov 2022 announces MoU signed defining the negotiation framework Mbeya Tanzania 300MW power station project PPA. Once a PPA is signed Mbeya 300MW is funding ready. We expect Kibo to reopen discussions with 2018 funders. We expect market and tech availability drivers will mean this project will use renewable feedstock, which ought to make it more attractive to funders and may deliver...

Underlying
Kibo Energy

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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ACF Equity Research
ACF Equity Research

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ACF Mining

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