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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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