CIC Energy defers some work at Mmamabula

In a statement released this week, president Greg Kinross says that CIC Energy has deferred certain financial, legal and engineering activities related to the Mmamabula energy project, in Botswana, with the company's decision driven by the South African government's development time-line for its energy sector integrated resource plan.

Kinross referred to the "slow pace of the regulatory process in South Africa" as "frustrating" but however said that the "spending deferrals and our C$41-million treasury give us the flexibility to weather this delay".