Kibo starts next study on Imweru
JOHANNESBURG (miningweekly.com) – The next phase of a multistage definitive mining feasibility study (DMFS) has started at Tanzania-focused mineral exploration and development company Kibo Mining’s Imweru gold project.
The AltX- and Aim-listed company said the Stage 1, Phase 2 prefeasibility study had started following the completion of the Stage 1, Phase 1 concept preliminary economic assessment (PEA), which established a workable base case for the accelerated development of the project.
The PEA, which formed the first element of the DMFS, had resulted in the development of an initial project plan to establish and implement a mining operation at Imweru Central and East with an initial life-of-mine (LoM) of seven to ten years.
An exploration plan had also been devised to expand the Imweru mineral resource and extend the LoM by a further indicative six-year period.
The study also revealed a financially feasible project based on two options, namely owner-operated and contractor-operated.
Further, the estimated cash flow generation from initial operations would be sufficient to enable Kibo to self-fund a wider resource expansion and the development of the Imweru project, as well as contribute towards development costs of other company assets in the Lake Victoria goldfields region.
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