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KIBO MINING PLC - Share Issue

Release Date: 12/11/2015 15:00
Code(s): KBO     PDF:  
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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