AMN - TANZANIA: Funds to keep Kibo study on schedule

Kibo Mining, the Tanzania focused mineral exploration and development company, has now received £522,800 from the delayed receipt of final proceeds from its February 2015 placing with Hume Capital Securities.

Kibo Mining CEO Louis Coetzee noted the significant enhancing of Kibo’s cash position and said it “will allow the company to continue to fund ongoing operations and in particular stay on schedule with the integrated Mbeya Coal to Power Project (MCPP) definitive feasibility study. It will also allow us to keep all the company’s strategic resources diligently focused and deployed in this regard.

http://kibomining.com

News courtesy of International Mining