Sharenet Sites 
Sharenet Sites
Kibo Completes Integrated Financial Model for Mbeya Coal to Power Project
Kibo Mining Plc (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN:IE00B97C0C31
(“Kibo” or “the Company”)
30 November 2016
Kibo Completes Integrated Financial Model for Mbeya Coal to Power Project
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development Company, is pleased to announce that it has received
an advanced draft of the integrated financial model for the Mbeya Coal to Power Project
(“MCPP”) from its financial advisors ABSA / Barclays. The model will now be the subject
of extensive review and further adjustment, based on the results from the final
negotiations with SEPCO III and General Electric (“GE”) on the EPC and OEM bids for the
MCPP.
Final negotiations related to the MCPP EPC and OEM contracts are currently under way in
Qingdao, China. The Company remains confident that these negotiations will be concluded
by 02 December 2016, after which legal counsel will be instructed to convert the terms
and conditions agreed upon by the parties into an appropriate EPC / OEM agreement, which
is scheduled for signature by the end of December 2016.
Louis Coetzee, CEO of Kibo Mining, said: “Initial results from the MCPP integrated
financial model reconfirm the MCPP as a very robust project with strong economic,
operational and technical integrity. We have seen a significant improvement on the
results from the internal integrated financial model that was prepared after completion
of the prefeasibility studies for the MCPP power plant and coal mine respectively.”
NOTE: The Company’s latest updated corporate presentation can be viewed at
www.kibomining.com and includes an updated perspective on the MCPP work streams
currently underway.
Contacts
Louis Coetzee
+27 (0) 83 2606126
Kibo Mining plc
Chief Executive Officer
Andreas Lianos
+27 (0) 83 4408365
River Group
Corporate Adviser and Designated Adviser on JSE
Jon Belliss
+44 (0) 207 3828300
Beaufort Securities Limited
Broker
Oliver Morse
+61 8 9480 2500
RFC Ambrian Limited
Nominated Adviser on AIM
Liz Morley / Anna Legge
+44 (0) 203 772 2500
Bell Pottinger
Investor and Media Relations
Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The
Company is focused on exploration and development of mineral projects in Tanzania, and
controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure
and stable operating environment for the mineral resource industry and Kibo Mining
therein.
Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101
compliant defined resource, and is developing a 250-350 MW mouth-of-mine thermal power
station, the Mbeya Coal to Power Project (“MCPP”), previously called Rukwa Coal to Power
Project (“RCPP”), with an established management team that includes ABSA / Barclays as
Financial Advisor. Kibo is undertaking a Coal Mining Definitive Feasibility Study and a
Power Pre- Feasibility Study for the Mbeya project with an integrated Bankable
Feasibility Study report for the MCPP to be released in the near term. On 25 August 2016,
Kibo signed an Agreement with China based EPC contractor SEPCO III granting it the right
to become the sole bidder for the EPC contract to build the power plant component of the
MCPP in exchange for SEPCO III refunding 50% of the development costs incurred by Kibo to
date on the project. Kibo has already received the first tranche of this funding in the
amount of US$1.8 million on the 5th September 2016.
The Company also has extensive gold focused interests including Lake Victoria Goldfields
and Morogoro projects. At Lake Victoria, the Company has 100% owned projects with a
550,000 oz. JORC compliant gold Mineral Resource at the Imweru Project and a 168,000 oz.
NI 43-101 compliant gold Mineral Resource at the Lubando Project. The Company is currently
undertaking a Definitive Feasibility Study on its Imweru Project.
Kibo also holds the Haneti Project on which the latest technical report confirms
prospectivity for nickel, PGMs, gold and strategic metals including lithium.
Kibo Mining further holds the Pinewood (coal & uranium) project where the company has
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
Finally, the Company also holds the Morogoro (gold) project where the company has also
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
The Company's projects are located in the established and gold prolific Lake Victoria
Goldfields, the emerging goldfields of eastern Tanzania and the Mtwara Corridor in
southern Tanzania where the Government has prioritized infrastructural development
attracting significant recent investment in coal and uranium. The Company has a positive
working relationship with the Tanzanian government at local, regional and national levels
and works hard to maintain positive relationships with all communities where company
interests are held. The Company recognizes the potential to enhance the quality of life
and opportunity for Tanzanian citizens through careful development of its projects.
Updates on the Company's activities are regularly posted on its website www.kibomining.com
Johannesburg
30 November 2016
Corporate and Designated Adviser
River Group
Date: 30/11/2016 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
