KIBO MINING PLC - Update on Proceeds of Hume Placing

Update on Proceeds of Hume 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")

03 December 2015


Update on Proceeds of Hume Placing


Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania focused 
mineral exploration and development company, is pleased to provide a further update, regarding 
the delayed receipt of final proceeds from its February 2015 placing with Hume Capital Securities 
plc ("Hume Capital").

Pursuant to the terms of a previous notice dated 20 August 2015 and reported to the market on 26 
August 2015, the Joint Special Administrators of Hume Capital had informed the Company that 
client monies would be distributed by the  earliest on 2 October 2015, but no later than within two 
months from 2 October 2015.

The Company has now received a further Notice from the Joint Special Administrators, dated 02 
December 2015, advising the first and final distribution of client monies shall be postponed for a 
further period, no longer than two months from 27 November 2015.

As announced on previous updates to shareholders, the Joint Special Administrators has 
confirmed to Kibo that all of the £526,000 (representing the consideration for 10,520,000 shares 
which were to be issued to third party investors) that had been paid into Hume Capital's client 
money account, will be released to Kibo, less a small proportion representing costs of the 
administration, which can now be confirmed to be in the range of £5,000 to £7,000. The Joint 
Special Administrators have also confirmed that no further delays / postponements are expected 
with regard to payment of the £526,000.

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

Louis Coetzee, CEO of Kibo Mining, said: "A further delay in the receipt of Company funds from 
Hume was always expected as a very real possibility but will not impact on the Company's cash 
and / or cash flow position. As announced during November the Company has already made 
alternative financial provision to provide short term cash flow stability in anticipation of this 
delay and we are pleased to note that substantially all the funds will be released to Kibo before the 
end of January 2016."


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) 207 382 8300
Beaufort 
Securities Limited

Broker
Oliver Morse
+61 8 9480 2500
RFC Ambrian 
Limited

Nominated Adviser on AIM
Daniel Thšle
Anna Legge
+44 (0) 203 772 2500

Bell Pottinger
Investor and Media Relations

Johannesburg
03 August 2015
Corporate and Designated 
Adviser River Group



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