KIBO MINING PLC - Update on Proceeds of Placing

Update on Proceeds of Placing

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")

Dated: 25 March  2015

Update on Proceeds of Placing

Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral 
exploration and development company, provides the following update to the announcement it made on 17 
March 2015 regarding the delayed receipt of the proceeds of its recent placing due to the fact that Hume 
Capital Securities plc ("Hume Capital") had appointed administrators.

Kibo believes that, of the outstanding placing proceeds, £526,000 (representing the consideration for 
10,520,000 Kibo shares which were to be issued to third party investors) which had been paid into Hume 
Capital's client money account, will be released to Kibo, as soon as practically possible under the 
procedures established by the FCA for such circumstances.

However Kibo understands that the balance of the placing consideration of approximately £204,000 
(representing the consideration for 4,080,000 Kibo shares which were to be issued to Hume Capital's 
discretionary clients) is unlikely to be released to the Company. The shares which were issued by Kibo in 
relation to this portion of the placing will likely be declared forfeit and cancelled by the Company, as 
provided for by the Company's Articles of Association.

Further information will be provided to investors as it becomes available to the Company.

Louis Coetzee, CEO of the Company, commented today: "The latest developments in relation to the 
Company's February placing with Hume, does not affect the Company's on-going business activities. 
Sufficient pre-cautionary measures are in place and have subsequently been introduced, to ensure that the 
Company can carry on with its business as usual, without any undue disruption. Shareholders can expect 
further updates on the various activities the Company has been reporting on over the past months, shortly." 

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

Elliot Hance
+44 (0) 207 382 8300
Beaufort Securities Limited
Broker

Oliver Morse
+61 8 9480 2500
RFC Ambrian Limited
Nominated Adviser on AIM

Daniel Thšle
Lucinda Alderson
+44 (0) 203 772 2500
Bell Pottinger
Investor and Media Relations


Johannesburg
25 March 2015
Corporate and Designated Adviser
River Group



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