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RESULTS OF EXTRAORDINARY GENERAL MEETING
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: IE00B61XQX41
("Kibo" or "the Company")
RESULTS OF EXTRAORDINARY GENERAL MEETING, AND ACHIEVEMENT OF 100% REVERSE TAKEOVER OFFER ACCEPTANCES
Dated: 6 September 2012
Kibo Extraordinary General Meeting Approves RTO
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration
and development company, is pleased to report that its all share acquisitions of Mzuri Energy Limited ("Mzuri
Energy") and Mayborn Resource Investments (Pty) Ltd ("Mayborn") have been approved by its shareholders in
an Extraordinary General Meeting held in Dublin on 6 September 2012. Mzuri Energy and Mayborn hold coal
and uranium exploration projects in Tanzania that have significant potential and will complement and enhance
Kibo's portfolio of mineral projects in Tanzania.
100% Acceptances by Shareholders of Mzuri Energy and Mayborn
The Company is also pleased to report that 100% of the shareholders of both Mzuri Energy and Mayborn have
now accepted its offer to acquire their Mzuri Energy and Mayborn shares.
Closing of RTO and Listing of Enlarged Share Capital
All the conditions precedent governing the Mzuri Energy acquisition agreement have now been met, and closing
of the transaction has occurred by means of the allotment and issue of the 706,964,400 consideration shares at
an issue price of GBP0.03 per share. The consideration shares rank pari passu with the Company's existing
issued ordinary shares. Application has been made for the admission of the enlarged share capital of Kibo,
being 1,122,093,911 ordinary shares of 0.01 each, to trading on AIM and the JSE, with trading in the enlarged
share capital expected to commence at the open of the markets on 7 September 2012.
Continued Support Based On A Culture of Performance and Delivery
Commenting on the closing, Kibo CEO Louis Coetzee said:
"We are grateful that the Company has so far been able to deliver on every aspect of this transaction. It
concludes the first step in transforming the new Kibo group into a meaningful and multi-faceted participant in
the swiftly developing East African resources- and infrastructure industries with our partners and other
stakeholders. We will work hard every day to maintain this culture of performance and delivery as one of the
primary principles that drive and motivate the growing Kibo group. We are equally grateful for the continued
support of our shareholders, both old and new. The integration of the enlarged group's projects in Tanzania is
already well advanced, and we are beginning to see the positive effects of economies of scale and the
optimization of operational capacity on the ground.
We are looking forward to working with our partners as well as the Tanzanian government and its agencies to
advance the group's projects at optimal speed over the next exploration season."
Enquiries:
Louis Coetzee +27 (0)83 2606126 Kibo Mining plc Chief Executive Officer
Stuart Laing +61 8 94802500 RFC Corporate Nominated Adviser on AIM
Finance Limited
Andreas Lianos +27 (0)83 4408365 River Group Corporate Adviser and
Designated Adviser on JSE
Nick Bealer +44 (0)207 7109612 Cornhill Capital Ltd Joint Broker
Matthew Johnson +44 (0) 207 9768800 Northland Capital
Partners Limited Joint Broker
Matt Beale +44 (0)7966 389196 Fortbridge Public Relations
Updates on the Company's activities are regularly posted on its website www.kibomining.com
General Background & Strategy
Kibo is a public company registered in Ireland (company number 451931). Its registered office is Kibo Mining
plc, Suite 3, One Earlsfort Centre, Lower Hatch Street, Dublin 2, Ireland. Kibo was established in early 2008 to
explore and develop mineral deposits in Tanzania, East Africa and was admitted to AIM on 27 April 2010 and
AltX in South Africa on 30 May 2011.
The Board of Kibo is composed of professionals whose experience include mineral exploration, mine
development, mining finance, tax, law, mergers and acquisitions, and financial control of public companies. It is
supported by a competent and motivated Tanzanian staff that operates from Kibo's operations office in Dar es
Salaam.
The mineral assets of the Company comprise three existing and two newly acquired projects in Tanzania -
Haneti (nickel, PGE and gold), Morogoro (Gold) and Lake Victoria (Gold) which give Kibo access to over 18,000
km2 of early stage exploration licences in Tanzania's premier gold mining region, the Lake Victoria Goldfield and
within the newly emerging gold exploration regions in eastern Tanzania.
The proposed acquisitions of Mzuri Energy and Mayborn will add the advanced Rukwa thermal coal project and
the Pinewood uranium exploration project to Kibo's portfolio of mineral projects in Tanzania.
The Rukwa and Pinewood projects will provide Kibo shareholders with exposure to an attractive portfolio of
strategic energy assets in Tanzania. Importantly, they are situated within and close to the Mtwara Corridor, an
area where the Tanzanian Government has committed to significant infrastructure development and which has
seen recent multi-million dollar investment in coal and coal-fired power stations and uranium exploration.
The Rukwa project is substantially more advanced than Kibo's existing exploration projects, with a significant
Mineral Resource of thermal coal already defined. This provides nearer term development and
commercialisation potential, complementing the earlier stage existing projects held by Kibo. This is further
supported by the memorandum of understanding that has already been entered into with a major Asian
conglomerate for the development of a coal mine and mine-mouth coal-fired power plant based on the Rukwa
project.
In addition, the Pinewood project encompasses a significant ground holding of prospective Karoo sequence
sedimentary rocks. These sediments are attracting considerable interest from international companies
exploring for uranium and coal mineralisation following some notable discoveries in recent years.
Kibo's objective is to build shareholder value in a sustainable manner. This objective will be pursued primarily
through active exploration of its own projects and by using the Company's experience in Tanzania to acquire
attractive exploration and development assets on competitive terms that can be moved swiftly up the value
curve by using the company's own skills base whilst also seeking to benefit from strategic collaborative
relationships with industry leaders who have special skills and competencies within their chosen fields of focus.
Kibo will undertake continual risk assessment of its projects and take whatever actions it believes are necessary
to ensure that these risks are mitigated.
Johannesburg
6 September 2012
Corporate and designated advisor
River Group
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