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KIBO MINING PLC - Kibo raises 1,105,000 in Share Placing

Release Date: 30/08/2013 11:10
Code(s): KBO     PDF:  
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Kibo raises £1,105,000 in Share Placing

 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:
 KIBOISIN:
 IE00B61XQX41
 (“Kibo” or “the Company”)


 Dated: 30 August 2013




Kibo raises £1,105,000 in Share Placing

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral
exploration and development company focused on gold, nickel, coal and uranium projects in
Tanzania, is pleased to announce that it has received commitments to a share placing of
22,100,000 new ordinary shares of Eur0.015 in the capital of the Company with clients of
Kibo’s UK Broker, XCAP Securities plc at a placing price of 5p per share (the “Placing
Shares”) to raise gross proceeds of £1,105,000 before expenses (the “Placing”). The funds
raised will be applied towards the Company’s exploration programmes in Tanzania and for
general working capital purposes.

Application will be made for the Placing Shares to be admitted to trading on AIM and the JSE
AltX markets. Trading in the Placing Shares is expected to commence on AIM and the JSE on
or around the 6th September 2013 (“Admission”). On Admission the Company will have
128,760,143 shares in issue.

Louis Coetzee, CEO of the Company, commented today: “Kibo is pleased with the successful
outcome of the latest placing. This will allow the Company to maintain and continue building
on the momentum the Company has been able to generate over the past months on its
promising mineral projects in Tanzania.”
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       XCAP                     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 competent and motivated a 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
30 August 2013

Corporate and Designated Adviser
River Group

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