Kibo Mining (GB:KIBO) has released an update.
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Kibo Energy PLC’s subsidiary, MAST Energy Developments (MED), has announced a significant improvement in gross profit margins due to operational optimizations at its Pyebridge facility, including income from its first Capacity Market contract. MED has successfully pre-qualified for additional Capacity Market contracts and has signed a finance agreement with RiverFort Global Opportunities for further development. The company has completed a major refurbishment on its first genset at Pyebridge, leading to a substantial revenue increase and is currently overhauling the second genset.
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