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KIBO MINING PLC - Change in UK Broking Arrangements

Release Date: 01/08/2013 08:00
Code(s): KBO     PDF:  
Wrap Text
Change in UK Broking Arrangements

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”)


1August 2013

Change in UK Broking Arrangements

Kibo Mining Plc (the "Company") wishes to advise that Northland Capital Partners Limited
(“Northland”) will no longer act as joint broker to the Company effective immediately.
XCAP Securities plc is now the Company’s sole corporate broker under AIM Rules. The
Company wishes to thank Northland for the assistance it has provided the Company over the
last 14 months.



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) 20 3216 2630          Hume                   Broker

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

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
1 August 2013

River Group

Corporate and Designated Adviser
River Group

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