Kibaran shares surge as financier circles

The share price of graphite developer Kibaran Resources soared by 33% on Friday after the company announced significant interest in debt funding of its Epanko project, in Tanzania. Kibaran announced at the end of the week that it had received an expression of interest from a development finance institution (DFI), which is a member of a large banking group and rated as one of the 50 safest banks in the world. The DFI is also considered to be one of the largest European DFIs, and has a strong record in the African mining sector.