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Entrepreneurial mining investment minnow Metal Tiger (MTR) is drawing comfort from one of its investee companies, fellow AIM counter Kibo Mining, which has reported an upbeat pre-feasibility study on its Mbeya coal-to-power project in the East African state of Tanzania. According to Kibo, the study suggests Mbeya could achieve annual revenues of $48 million (£30.8 million), with a profit margin of $24 to $27 million a year, and bring payback in between 2.6 to 3.65 years, for a capital outlay of between $38 and $73 million, according to which development route the company decides to take.
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