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Sustained Progress on Rukwa Coal to Power Project’s (“RCPP”) and Definitive Mining Feasibility Study (“DMFS”)
Kibo Mining Plc
(Incorporated in Ireland)
Registration Number: 451931
(External registration number: 2011/007371/10)
Share code on the JSE: KBO
Share code on the AIM: KIBO
ISIN: IE00B61XQX41
("Kibo" or the "Company")
18 September 2014
Sustained Progress on Rukwa Coal to Power Project's ("RCPP")
Definitive Mining Feasibility Study ("DMFS")
Highlights
* Conceptual Mine Design and Schedule completed;
* Conceptual Framework for Coal Infrastructure and Logistics completed;
* Conceptual Plant design completed;
Kibo Mining plc ("Kibo" or the "Company"), the mineral exploration and development company focused
on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce further progress made in the
development of Phase 1, Stage 1, of the Rukwa DMFS. After confirmation of initial assumptions, the
establishment of a mining base case and mine design criteria, the study focused on assessing and
confirming a conceptual mine plan. The most important results from this work were confirmation of:
* Run of Mine (ROM) at 120 Ktpm;
* Stripping ratio at 4.0 (BCM/t);
Confirmation of these critical factors therefore demonstrates that Rukwa can be mined efficiently and
within previously reported cost parameters. This will be achieved by mining the pit from two starter pits
(or box cuts), allowing advances on four benches (faces) and four directions along strike simultaneously.
This arrangement will provide considerable flexibility in the mine plan and setup and also allow for mine
waste to be deposited in the pit, significantly cutting down on hauling cost and eventual rehabilitation cost.
Louis Coetzee, C.E.O. of Kibo Mining, commented: "We continue to rapidly de-risk the mining portion of
the Rukwa Coal to Power Project, with further detailed work delivered in these early stages of the
feasibility process. The technical fundamentals and planning considerations are already well developed,
which should allow a quicker than expected advance into Phase 2, Stage 1 of the DMFS."
Kibo Mining - Notes to editors
Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania. The Company was
admitted to AIM in London on 27 April 2010 and the AltX in Johannesburg on 30 May 2011. The Company
is developing the Rukwa mouth-of-mine thermal power station and controls one of Tanzania's largest
mineral right portfolios, including the Haneti (nickel, PGE and gold), Morogoro (gold), Lake Victoria
(gold), and Pinewood (coal & uranium) projects.
Kibo's projects are located both 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
prioritised infrastructural development, attracting significant recent investment in coal and uranium.
Kibo's objective is to build shareholder value sustainably. This will be achieved primarily through
exploration of its own projects and leveraging the Company's experience in Tanzania to acquire exploration
and development assets on competitive terms. The focus is on assets that can be moved swiftly up the value
curve whilst benefitting from strategic relationships with industry leaders with special skills and
competencies within their chosen fields.
Updates on the Company's activities are regularly posted on its website www.kibomining.com
Technical Data
RUKWA COAL RESOURCE SUMMARY- GEMECS (Pty) Ltd
SEAM NI 43-101 IN SITU
SEAM THICKNESS CLASS MILLION TONS
S4 1.14 Indicated 2.17
S3U 2.04 Indicated 6.92
S3L 2.30 Indicated 12.63
S2 3.45 Indicated 23.43
S1U 2.48 Indicated 7.34
S1L 2.92 Indicated 17.40
S0 1.08 Indicated 1.44
Total Indicated Resources 71.34
S4 1.31 Inferred 1.38
S3U 2.24 Inferred 2.94
S3L 2.27 Inferred 3.86
S2 3.42 Inferred 7.94
S1U 2.05 Inferred 6.50
S1L 3.15 Inferred 12.83
S0 1.06 Inferred 2.60
Total Inferred Resources 38.05
TOTAL RESOURCES 109.39
Review by Qualified Person
The information in this announcement that relates to the Rukwa coal resource is taken from a report
titled "Independent Technical Report for the Rukwa Coal Project, Mbeya Region, United Republic of
Tanzania" dated 19th April 2012 by CD van Niekerk Director and Principal Geologist with the firm
GEMECS (Pty) Ltd. Mr van Niekerk is a Professional Natural Scientist with the South African
Council for Natural Scientific Professions (SACNASP), Registration No. 400066/98 and a Fellow
Member of the Geological Society of South Africa. He has relevant experience and technical
qualifications to be a "Qualified Person" for reporting coal resources to the NI 43-101 Standard. The
Company's Exploration Director, Noel O'Keeffe has also reviewed the technical reports and the
references to them in this announcement.
Contacts
Louis Coetzee
+27 (0) 83 2606126
Kibo Mining plc
Chief Executive Officer
Andreas Lianos
+27 (0) 83 4408365
River Group
Corporate and Designated
Adviser on JSE
Jon Belliss
Abigail Wayne
+44 (0) 20 3693 1470
Hume Capital Securities Plc
Broker
Oliver Morse
Trinity McIntyre
+61 8 94802500
+61 8 94802500
RFC Ambrian Limited
Nominated Adviser on AIM
Daniel Thšle
Lydia Eades
+44 (0) 203 772 2500
+44 (0) 203 772 2500
Bell Pottinger
Investor and Media Relations
Johannesburg
18 September 2014
Corporate and Designated Adviser
River Group
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