KIBO MINING PLC - Kibo Receives Proceeds from Hume Placing and Secures New Favorable Settlement Terms in Re-Negotiated Sanderson Loan

Kibo Receives Proceeds from Hume Placing and Secures New Favorable Settlement Terms in Re-Negotiated Sanderson Loan

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")

28 January 2016

Kibo Receives Proceeds from Hume Placing and Secures New Favorable Settlement Terms 
in Re-Negotiated Sanderson Loan Agreement


Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania 
focused mineral exploration and development company, is pleased to announce that the 
Company has now received the amount of £522, 800 from the delayed receipt of final proceeds 
from its February 2015 placing with Hume Capital Securities plc ("Hume Capital").

On 25 January 2016, the Joint Special Administrators paid £522,800 of the total £526,000 
(representing the consideration for 10,520,000 shares which were to be issued to third party 
investors) and that had previously been paid into Hume Capital's client money account during 
the February 2015 placing, to Kibo ("Hume Proceeds"). The amount of £3,200 was deducted 
from the total and represents costs of the administration.

To bolster the Company's cash position further, amidst very difficult market conditions, 
Sanderson Capital Partners Ltd ("Sanderson") was approached in an effort to re-negotiate the 
repayment terms of the unsecured interest free bridge loan facility which it advanced to the 
Company. (Please see RNS of 04 November 2015). In this regard the Company was able to agree 
the following more favorable repayment terms: 

1. A minimum of 60% of the loan amount (i.e. £300,000) will be repaid in Ordinary Shares 
   of the Company and not in cash, at a price equal to the 30 day VWAP of Kibo's share 
   price on the date at which repayment is due, being the earlier of three months from the 
   date of the original loan agreement or the date on which Kibo receives the Hume 
   Proceeds ("Repayment Date");

2. Repayment of no more than 40% of the loan amount (i.e. £200, 000), as well as the £50, 000
   fee component, due in cash at the Repayment Date, will be deferred for another 28 
   calendar days from the Repayment Date; and

3. Any additional costs / fees that may be incurred with the extension, implementation and 
   execution of the re-negotiated loan agreement will be settled in Ordinary Shares of the 
   Company, with the price of such shares to be determined in the same manner as under 
   point 1 above. It is anticipated that the issuance of any Ordinary Shares for such 
   additional costs / fees would occur contemporaneously with those being issued under 
   point 1 above. 

Louis Coetzee, CEO of Kibo Mining, said: "We are delighted that we have now received the 
Hume money and equally so with the outcome on the renegotiated Sunderland facility. The Hume 
money and amended Sunderland facility will significantly enhance Kibo's cash position and will 
allow the Company to continue to fund on-going operations and in particular stay on schedule 
with the integrated Mbeya Coal to Power Project ("MCPP") definitive feasibility study. It will 
also allow us to keep all the Company's strategic resources diligently focused and deployed in 
this regard.
 
Through careful forward planning, prudent financial management and creative use of resources, 
the Company was able to avoid a situation where the delayed receipt of the Hume Proceeds had 
any significant impact on ongoing work on any of the Company's work programs. The current 
position will allow us to continue doing the same, only more effectively and efficiently." 

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
28 January 2016
Corporate and Designated Adviser 
River Group



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