Wrap Text
Share Issue
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")
12 November 2015
Share Issue
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focussed
mineral exploration and development Company has today issued 1,666,667 Ordinary Shares (the
"Shares") of Û0.015 each in the capital of the Company at a price of 6p to Sanderson Capital
Partners Limited ("Sanderson"). The Shares were issued upon receipt of £500,000 from
Sanderson, representing the full drawdown amount of the loan facility provided by Sanderson to
the Company, the details of which were announced on the Company's RNS of the 4th November
2015.
Application will be made for the Shares to be admitted to trading on AIM and the JSE AltX
markets. Trading in the Shares is expected to commence on AIM and the JSE on or around 17
November 2015 ("Admission"). On completion of Admission the Company will have 330,928,714
shares in issue.
Louis Coetzee, CEO of the Company, commented today: "Whilst confirming that the £526,000
placing proceeds due to the Company, which have been retained in the Hume client money account
since March 2015, will be released to Kibo in due course, the administrators of Hume Capital have
not been able to provide Kibo with a definitive timeline for the distribution. Accordingly Kibo has
elected to draw down the loan facility from Sanderson in order to prevent the delay in the receipt of
these funds from holding up work on the Mbeya Coal to Power Project ("MCPP") and Kibo's
other projects."
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
Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The
Company is focused on exploration and development of mineral projects in Tanzania, and
controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable
operating environment for the mineral resource industry and Kibo Mining therein.
Kibo Mining holds a thermal coal deposit at Rukwa, which has a significant JORC compliant
defined resource (See Table 1 below), and is developing a 250-350MW mouth-of-mine thermal
power station, the Mbeya Coal to Power Project ("MCPP"), previously called Rukwa Coal to
Power Project ("RCPP"), with an established management team that includes Standard Bank as
Financial Advisor. Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power
Pre-Feasibility Study for the Mbeya project with an integrated Coal-Power interim study report
to be released in the near term. On 20th April 2015, Kibo signed a Joint Development Agreement
for the completion of the Definitive Feasibility Studies and development of the MCPP with
China based EPC contractor SEPCO III.
The Company also has extensive gold focused interests including Lake Victoria Goldfields and
Morogoro projects. At Lake Victoria, the Company has projects with a 550,000oz JORC
compliant gold Mineral Resource at Imweru Project (See Table 2 below) and a 168,000oz NI
43-101 compliant gold Mineral Resource at the Lubando Project (See Table 3 below) in which
the Company holds a 90% attributable interest. The Company is currently undertaking a
Definitive Feasibility Study on its Imweru Project.
Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for
nickel, PGMs, gold and strategic metals including lithium.
Kibo Mining further holds the Pinewood (coal & uranium) project where the company has
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
Finally the Company also holds the Morogoro (gold) project where the company has also
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
The Company's projects are located in the established and gold prolific Lake VictoriaGoldfields,
the emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania
where the Government has prioritised infrastructural development attracting significant recent
investment in coal and uranium. The Company has a positive working relationship with the
Tanzanian government at local, regional and national levels and works hard to maintain positive
relationships with all communities where company interests are held. The Company recognises
the potential to enhance the quality of life and opportunity for Tanzanian citizens through
careful development of its projects.
Updates on the Company's activities are regularly posted on its website www.kibomining.com
Johannesburg
12 November2015
Corporate and Designated Adviser
River Group
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