Mast Energy Developments PLC - developer of reserve power generation plants - Says phase one work programme at its 9-megawatt Pyebridge flexible power generation plant in Derbyshire, England is completed ahead of schedule. Plans to start second phase work programme shortly. Says the phase two will be performed in separate consecutive tranches and is expected to take around six to eight weeks per generator set. Notes the cost of the second phase will be funded under the new funding agreement it recently announced. Mast Energy signed an initial funding facility up to £4.0 million with RiverFort Global Opportunities PCC Ltd, earmarked for Pyebridge.

Mast Energy also says pre-construction work at the 7.5 megawatt Hindlip Lane flexible power generation project in Worcester, England is complete and certificate of lawful commencement is granted. Says Hindlip, plust the 4.5 megawatt Bordesley and 4.5 megawatt Rochdale sites each are construction-ready. Kibo Energy PLC holds a 55% stake in Mast Energy.

Mast stock price in London: 0.53 pence, up 78% early Thursday

12-month change: down 57%

Kibo stock price in London: 0.036p, down 3.7%

12-month change: down 55%

Kibo stock price in Johannesburg: 0.01 rand cent

12-month change: down 67%

Copyright 2024 Alliance News Ltd. All Rights Reserved.