Wrap Text
Issue of shares
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")
21 December 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 a first drawdown
under the terms of the forward payment facility provided by Sanderson Capital Partners Limited
("Sanderson") (the "Facility"), the details of which were announced in the Company's RNS
earlier today.
In accordance with the terms of the Facility, the Company has today allotted 8,507,160 Ordinary
Shares in Kibo to Sanderson (the "Facility Shares") following receipt of the first payment of
USD 310,000. The Facility Shares were issued at a price of 6.97p, being Kibo's 30 day VWAP to
20 December 2016.
In addition, Kibo has also allotted 1,024,993 Ordinary Shares in Kibo to its broker, Beaufort
Securities Limited, to the value of GBP 71,442 (the "Advisory Fee Shares"). The Advisory Fee
shares were also issued at Kibo's 30 day VWAP price of 6.97p and have been issued in respect of
advisory services provided by Beaufort in relation to arranging the Facility.
Together the Discount Shares and the Advisory Shares (together the "Share Issue") amount to a
total of 9,532,153 shares.
The Share Issue has been settled from the remaining shares in the Company's treasury account of
1,159,302 ("Treasury Shares") and the issue of 8,372,851 new Kibo shares ("New Shares").
The Treasury Shares have already been admitted to trading on AIM so no further application for
their admission to AIM is now required. An application for the New Shares to be admitted to
trading on AIM ("AIM Admission") and the JSE ("JSE Admission") is required and pending
admission to AIM and the JSE, the New Shares are expected to commence trading on or about
the 29th December 2016.
On completion of AIM and JSE Admission the Company will have 363,976,596 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
Liz Morley / 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 ABSA / Barclays 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
21 December 2016
Corporate and Designated
Adviser River Group
Date: 21/12/2016 04:58:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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