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KIBO MINING PLC - Results Of The Annual General Meeting

Release Date: 31/07/2013 17:42
Code(s): KBO     PDF:  
Wrap Text
Results Of The Annual 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")

31 July 2013


RESULTS OF THE ANNUAL GENERAL MEETING

Shareholders are advised that the annual general meeting
of Kibo held on 31 July 2013 was attended in person and
by proxy by shareholders holding approximately 36.6%% of
the shares in Kibo.

All the resolutions proposed were approved by the
requisite number of shareholders and will, where
necessary, be registered with the Companies Registration
Office (Ireland).

Enquiries:
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) 20 3216 2630
XCAP
Broker

Stuart Laing +61 8 94802500
RFC Ambrian Limited
Nominated Adviser on AIM

Matt Beale +44 (0)7966 389196
Fortbridge
Investor Relations

Updates on the Company’s activities are regularly posted
on its website www.kibomining.com

General Background & Strategy
Kibo was established in early 2008 to explore and develop
mineral deposits in Tanzania, East Africa and was
admitted to AIM in London on 27 April 2010 and AltX in
Johannesburg 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 five projects areas in Tanzania -
Haneti (nickel, PGE and gold), Morogoro (Gold), Lake
Victoria (Gold), Rukwa (Coal) and Pinewood (Coal &
Uranium). The Haneti project is the subject of a joint
venture with Brazilian Votorantim Metais Participações
Ltda, a member of Votorantim Group. The Rukwa and
Pinewood projects are situated 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. The project enjoys strong support expressed by
the Tanzanian Government for the expedited development of
a coal mine and mine-mouth coal-fired power plant and
which is further enhanced by the now formal relationship
between the Korean Government owned Korean East – West
Power Co. Ltd. (“EWP”) and Kibo. In this relationship the
parties have entered into a formal MOU which states the
parties’ respective commitments towards the joint
development of the Rukwa Coal to Power Project (“RCPP”),
where EWP will be responsible for developing and
operating the power generation side of the RCPP and Kibo
will be responsible for developing and operating the
mining side of the RCPP. 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
31 July 2013

River Group
Corporate and Designated Adviser

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