Kibo Mining’s UK shareholders were crunching numbers to see what their shares could be worth after it signs a power purchase agreement with the Tanzanian government for its Mbeya coal to power station project.Kibo said the agreement would be signed in the first quarter of 2018, allowing for financial close. One shareholder’s calculation posted on the London South East share forum was that the shares could be worth 56p (from 5p at present) when the first phase of Mbeya is delivering, with further upside from future development. Their enthusiasm has not been dimmed by lengthy delays in getting the Tanzanian government to commit. But they may be overoptimistic. In SA, investors in the renewable energy sector have learned to take government promises with a large dose of scepticism. Although the first few rounds of the renewable energy independent power programme (REIPP) progressed smoothly, from 2016 it became obvious there was no alignment between the departments of energy, trade and i...
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