- Kibo Energy said it had signed a binding term sheet with Sanderson Capital Partners for the conversion of Sanderson's 2.5% equity interest in a subsidiarry into Kibo shares.

Sanderson currently held the interest in Tanzanian subsidiary Mbeya Development Company.

Mbeya Development was the holder of the company's physical 120.8m tonne coal resource in Tanziania, as well as a power project.

At 1:51pm: [LON:KIBO] Kibo Mining share price was +0.1p at 1.05p

Story provided by