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KIBO MINING PLC - Share Issue

Release Date: 12/04/2016 17:00
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 April 2016

Share Issue

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania 
focused mineral exploration and development Company has today elected to make 
the second drawdown of the loan facility (the “Facility”) provided to the 
Company by Sanderson Capital Partners Limited (“Sanderson”), the details of 
which were announced on the Company’s RNS of 03 March 2016. 

In accordance with the terms of the Facility the Company has today allotted 
1,360,000 Ordinary Shares (the “Sanderson Shares”) of €0.015 par value each 
in the capital of the Company to Sanderson. The Sanderson Shares will be 
issued as a drawdown fee upon receipt of £300,000 from Sanderson, representing 
the second drawdown on the Facility of up to £1,500,000 provided by Sanderson 
to the Company. The Sanderson Shares comprise 1,186,046 shares to be issued in 
relation to the second drawdown and a further issue of 173,954 shares in 
relation to the first drawdown (announced on 3 March 2016). The mid-price for 
Kibo shares on 3 March 2016 of 3.75 pence per share was outside the 4 pence to 
5 pence per share range in which the standard drawdown fee is fixed at 1,186,046 
Ordinary Shares in Kibo. This gave rise to a shortfall in the shares issued to 
Sanderson in respect of the first drawdown fee of £51,000, which was calculated 
on an effective price of 4.3 pence per share.

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 15th April 2016 (“Admission”). On completion of Admission the 
Company will have 351,424,760 shares in issue. 


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 Thöle / 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 Mbeya, which has a significant JORC 
compliant defined resource, and is developing a 250-350MW mouth-of-mine thermal 
power station, the Mbeya Coal to Power Project (“MCPP”), with an established 
management team that includes Standard Bank as Financial Advisor. Kibo is 
undertaking a Coal Mining Definitive Feasibility Study and a Power Definitive 
Feasibility Study for the Mbeya project with an integrated Bankable Feasibility 
Report for the MCPP 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 and a 168,000oz 
NI 43-101 compliant gold Mineral Resource at the Lubando Project 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 
Victoria Goldfields, 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 April 2016
Corporate and Designated Adviser
River Group













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