Kibaran Resources Completes Updated Bankable Feasibility Study

Kibaran Resources (ASX: KNL), is pleased to announce the completion of its updated Bankable Feasibility Study (‘BFS’) and associated Environmental and Social Planning for its 100% owned Epanko Graphite Project (‘Epanko’) in Tanzania.
The BFS, which incorporates conservative design parameters, has been subjected to rigorous due diligence by bank appointed Independent Engineers SRK Consulting (UK) Limited (‘SRK Consulting’) who confirms as follows:

• all technical areas have been significantly advanced to conform with the requirements of international project financing standards;
• and the Environmental and Social Management Planning and supporting impact assessments conform to relevant Tanzanian legislation, International Finance Corporation (‘IFC’) Performance Standards and World Bank Group Environmental Health and Safety Guidelines.

Kibaran Managing Director Andrew Spinks commented:

“The outstanding quality of the deposit underpins the project’s extremely robust economics, demonstrated by the strong alliance the project has managed to secure with a range of German industrial groups.
Passing this milestone was the key catalyst to advance debt financing and allows Kibaran and its sales partners, industry groups and private equity groups that have previously expressed interest, to commence project financing discussions in detail.”

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