Kibo Mining plc announced completion of the integrated bankable feasibility study, or IBFS, with the delivery of the Integrated Financial Model for the Mbeya Coal to Power Project, or MCPP. The IBFS comprises an integration of the Definitive Mining Feasibility Study, the Definitive Power Feasibility Study, the Integrated Financial Model for the MCPP and all other relevant technical studies on the MCPP done to date, inclusive of the financial outcomes from the power EPC agreement. The IBFS concluded that the MCPP is financially, technically and operationally a very robust project. Total capital requirement for the integrated project reduced 21.1% from the original integrated prefeasibility study figure. Indicative MCPP total revenue over an assumed 25-year life of project (Note: the final life of project will be fixed by the final Power Purchase Agreement ("PPA")) of approximately $7.5 to $8.5 billion. Indicative post tax Equity IRR between 21% and 22%, an increase of 11% on the indicative IPFS post-tax Equity IRR, based on the following conservative debt assumptions: Debt tenor: 12 years; All in interest rate: 10%; and DSRA facility: 6 months. Post tax Project IRR ranging between 14.7% and 16%. Indicative post-tax payback: Equity Payback period: 4 to 5 years; and Debt Payback Period: 11 to 12 years. Sufficient additional coal resources available from the Mbeya Coal Mine to expand the power station to more than double the current design size and plant life.