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KIBO MINING PLC - Transfer of Kibo Shares to Sanderson from Companys Treasury Account

Release Date: 08/09/2016 11:00
Code(s): KBO     PDF:  
Wrap Text
Transfer of Kibo Shares to Sanderson from Company’s Treasury Account

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”)

8 September 2016

Transfer of Kibo Shares to Sanderson from Company’s Treasury Account

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused 
mineral exploration and development Company has today issued 2,712,477 Ordinary Shares 
(the “Conversion Shares”) in the capital of the Company to Sanderson Capital Partners 
Limited (“Sanderson”) from a Company held forfeited share treasury account (“Treasury 
Account”). The Conversion Shares were issued as part of the settlement under the 
re-negotiated terms for payback of the loan facility (the “Facility”) from Sanderson, 
the full details of which were recently announced in the Company’s RNS of 01 September 
2016. The Conversion Shares will be issued to Sanderson at a price of 5.53p per share, 
being the Kibo closing price on 1 September 2016 (the “Conversion Date”) for a value of 
£150,000. As notified in the Company’s announcement on 1 September 2016, the Facility 
amount of £1,500,000 converted to a 2.5% equity interest in the MCPP project Company on 
the Conversion Date.

The Conversion Shares were issued to Sanderson from the 4,090,000 forfeited shares 
(“Forfeited Shares”) held by the Company in the Treasury Account since 23rd June 2015 
and have already been admitted to trading on AIM.  An application for the Conversion 
Shares to be admitted to trading on the JSE AltX markets is required (“JSE Admission”), 
and pending approval for JSE Admission, trading on the JSE will commence on or around 
9th September 2016. On completion of JSE Admission the Company’s shares in issue will 
remain at 355,603,745 with a reduction in the number of Forfeited Shares in the 
Company’s Treasury Account to 1,377,523.


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 NI 43-101 
compliant defined resource, and is developing a 250-350 MW 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 Bankable 
Feasibility Study report for the MCPP to be released in the near term. On 25 August 2016, 
Kibo signed an Agreement with China based EPC contractor SEPCO III granting it the right 
to become the sole bidder for the EPC contract to build the power plant component of the 
MCPP in exchange for SEPCO III refunding 50% of the development costs incurred by Kibo 
to date on the project. Kibo has already received the first tranche of this funding in 
the amount of US$1.8 million on the 5th September 2016.

The Company also has extensive gold focused interests including Lake Victoria Goldfields 
and Morogoro projects. At Lake Victoria, the Company has 100% owned projects with a 
550,000 oz. JORC compliant gold Mineral Resource at the Imweru Project and a 168,000 oz. 
NI 43-101 compliant gold Mineral Resource at the Lubando Project. 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 prioritized 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 recognizes 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
8 September 2016
Corporate and Designated Adviser 
River Group





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