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Notice of AGM, posting, proposed name change change of auditors and audited 2017 AFS available on website
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 AIM: KIBO
ISIN: IE00B97C0C31
(“Kibo” or “the Company”)
Notice of AGM including proposed name change and change of auditors and Full Audited Annual
Financial Statements for the year ended 31 December 2017 available on the Company website.
25 June 2018
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and
resource company, is pleased to announce that its full audited financial results for the year ended 31 December 2017
and Notice of Annual General Meeting are now available on its website as part of its 2017 Annual Report and can
be accessed on the following link Kibo Mining Annual Report 2017.
Individual Forms of Proxy for this year’s Annual General Meeting (“AGM”) are being posted to all Shareholders
this week, and those shareholders who have requested hard copy documentation or for which no email addresses
are available will receive the Annual Report (which contains the Notice of AGM) in the post.
The Company’s 2018 AGM will take place at 10 a.m. on Monday 30th of July 2018 at the Conrad Hotel,
Earlsfort Terrace, St Stephen’s Green, Dublin 2, Ireland.
Shareholders should note that among the following resolutions being put before the AGM is a resolution seeking
approval for changing the name of the Company to Kibo Energy Public Limited Company and the appointment of
Crowe, Clarke Whitehill LLP as the Company’s new auditors:
1 To receive the financial statements of the Company for the year ended 31 December 2017
2 Re-election of Tinus Maree as a Director
3 Re-election of Wenzel Kerremans as a Director
4 The appointment of Crowe, Clarke Whitehill LLP as the Company’s new auditors
5 Renewal of authority to fix the remuneration of the Auditors for the year ending 31 December 2018
6 Renewal of general authority to allot and issue shares
7 Dis-application of pre-emption rights
8 Change of Company name to Kibo Energy Public Limited Company
9 Amendments to the Memorandum and Articles of Association
Contacts:
For further information please visit www.kibomining.com or contact:
Louis Coetzee louisc@kibomining.com Kibo Mining Plc Chief Executive Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate and Designated
Adviser on JSE
Ben Tadd / +44 (0) 20 3700 0093 SVS Securities Joint Broker
Tom Curran Limited
Jon Belliss +44 (0) 20 7399 9400 Novum Securities Ltd Joint Broker
Andrew Thomson +61 8 9480 2500 RFC Ambrian NOMAD on AIM
Limited
Isabel de Salis / Investor and Media
+44 (0) 20 7236 1177 St Brides Partners Ltd
Priit Piip Relations Adviser
This announcement contains inside information as stipulated under the Market Abuse
Regulations (EU) no. 596/2014 ("MAR").
Notes to editors
Kibo is a multi-asset resource development and energy company with a long-term goal of becoming a
leading power producer in Sub-Saharan Africa. The Company aims to tackle the acute power deficit
which is severely hindering economic development in the region.
To assist in the execution of its power projects, Kibo has assembled an international team of advisors and
partners including Engineering Procurement and Construction (‘EPC’) contractors and financial teams that
are assisting in the advancement and development of the MCPP. These include ABSA/Barclays as Financial
Advisor, China based EPC contractor SEPCO III, General Electric, Tractebel Engineering (Power), Minxcon
Consulting (Mining) and legal advisors Norton Rose Fulbright.
Kibo’s flagship asset is the Mbeya Coal to Power Project (‘MCPP’) in Tanzania, which comprises the Mbeya
Coal Mine, a 1.5Mt p/a mining operation, and the Mbeya Power Plant, a 300MW mine-mouth thermal power
station. The Mbeya Coal Mine has a defined 120.8 Mt NI 43 101 thermal coal resource. A Definitive Feasibility
Study has been conducted on the project which underpinned its value and confirmed an initial rate of return
of 69.2%. The 300MW mouth-of-mine thermal power station has long term scalability with the potential to
become a 1000MW plant. The completed full Power Feasibility Study highlighted a power output target of
1,800 GWh/a based on annual average coal consumption of 1.5Mt. An Integrated Bankable Feasibility Study
report for the entire project indicated total potential revenues of US$ 7.5-8.5 billion over an initial 25-year
mine life, post tax equity IRR between 21-22%, debt pay-back period of 11-12 years and a construction period
of 36 months.
Kibo also has an 85% interest in the Mabesekwa Coal Independent Power Project (‘MCIPP’), a nearly identical
power project in Botswana. The project consists of 300Mt subset of the current in-situ 777Mt Coal Resource
and has water and land use permits and environmental certification in place. A Pre- Feasibility Study on the
coal mine has been completed, as has a Scoping Study, which highlight the power plant having a maximum
capacity of 600MW (4x150MW) based on a coal delivery rate of 3.2Mtpa and a Life of Mine of over 30
years.
Furthermore Kibo also has a Joint Venture agreement with Mozambique energy company Termoeléctrica de
Benga S.A. ('Termoeléctrica') to participate in the further assessment and potential development of the Benga
Independent Power Project ('BIPP'), including the right to construct and operate a 150-300MW coal fired
power station. Kibo and Termoeléctrica shall hold initial Participation Interests in the unincorporated joint
venture of 65% and 35% respectively.
Johannesburg
25th June 2018
Corporate and Designated Adviser
River Group
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