Kibo Energy PLC (LON:KIBO) has power generation assets in the UK and Africa
Company is expecting to publish DFS on Benga project in Mozambique shortly
Building a presence in UK intervention market
What it is developing
Two thermal coal power projects in Botswana (Mabesekwa) and Mozambique (Benga).
A UK focused flexible energy portfolio (MAST)
Advanced coal-to-power project in Tanzania (Mbeya).
Katoro Gold (57.6%), separately listed on AIM and a gold explorer with two gold projects in Tanzania
How is it doing
At Benga (Kibo 65%) the company is now working on finalising the coal supply agreement and power purchase agreement with private off-takers.
Mabesekwa (85%) is at the feasibility stage, following the completion of a mining scoping study, which highlighted a 30-year life of mine, and a power pre-feasibility study indicating maximum power capacity of 600 megawatts (MW) based on a coal delivery rate of 3.2mln tonnes a year.
Mast (60%) has identified various "shovel ready" sites capable of sustaining gas-fired power generators and ancillary structures from 20Mw upwards with the acquisition of first sites expected shortly.
In Tanzania, Mbeya has been knocked by the decision by state electricity group TANESCO not to buy any power produced at the power station. Kibo is now looking to private off-takers and export markets for Mbeya.
What the boss says
“We have four key projects which we are developing in parallel: two thermal coal power projects in Botswana and Mozambique, a UK focused flexible energy portfolio and an advanced coal-to-power project in Tanzania.
"Each holds significant value, which I don't believe is reflected in the current share price”
The definitive feasibility study at Benga to be published after the company received a report earlier than expected in March
Power purchase agreements signed for Benga
First sites acquired for MAST generators
Off-takers for Mbeya signed
Progress at Katoro Gold’s two main licences
Designs for Mbeya and Benga chosen as a blueprint for other thermal power station developments in southern Africa
Intervention business in UK to grow substantially
At 0.75p, company is valued at £5.8mln