KIBO MINING PLC - Kibo Initiates Diversified Production Strategy for Mbeya Coal Mine

Kibo Initiates Diversified Production Strategy for Mbeya Coal Mine

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”)


30th March 2017

Kibo Initiates Diversified Production Strategy for Mbeya Coal Mine 

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development Company is pleased to announce that the Company 
has decided, after careful study of the MCPP Integrated Bankable Feasibility Study 
(“IBFS”) results as well as latest policy changes in Tanzania, to implement a 
diversified production strategy for the Mbeya Coal Mine. This strategy will see Mbeya 
Coal LTD develop its coal mine to produce coal for the Mbeya power plant as its primary 
client, with the domestic coal market as a secondary client. The Company has already 
engaged with the domestic market in this regard with very positive response thus far.


Share Issue

The Company has today issued 277,768 new Ordinary Kibo shares of €0.015 par value each 
in the capital of the Company (the “Settlement Shares”) to service providers in 
settlement of invoices for a total amount of £13,194. The Settlement Shares were issued 
in respect of invoices for recent geological and investor relations services to the 
Company and were issued at a price of 4.75p per Kibo share.

Application will be made for the Settlement 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 Wednesday 5th April 2017 (“Admission”). On completion of Admission the 
Company will have 364,254,364 shares in issue.


UK Investor Show

The Company is also pleased to announce that it will be exhibiting and presenting at 
the UK Investor Show being held at the Queen Elizabeth II Conference Centre in London, 
on Saturday 1st April 2017 (9 am to 5 pm). Details on the UK Investor Show can be found 
on the organizer’s website: https://www.UKInvestorshow.com/. Kibo will have a stand at 
Stand 77, Fleming Suite and the Company’s CEO will be giving a presentation in the 
Miers Room (part of Fleming Suite) at 3 p.m. Investors wishing to view the Company’s 
corporate presentation that will be presented at the conference can do so on its 
website: http://www.kibomining.com.

Louis Coetzee, CEO of Kibo Mining, said: "Our decision to adopt a diversified 
production strategy for the Mbeya coal mine follows from the results of the Definitive 
Mining Feasibility Study, where we specifically investigated parallel commercial 
opportunities in addition to producing coal for the Mbeya power plant only, the 
ultimate results from the IBFS, as well as latest policy changes in Tanzania. An 
integrated consideration of all these aspects shows that a diversified production 
strategy is indeed feasible and has potential to significantly enhance the economics 
of the Mbeya coal mine and which could allow the mine to be put into production 
earlier than planned for the MCPP".   


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 the Rukwa Coal to 
Power Project (“RCPP”), with an established management team that includes ABSA / 
Barclays as Financial Advisor. Kibo has completed a Coal Mining Definitive Feasibility 
Study and a Power Pre- Feasibility Study for the Mbeya project and has recently 
announced the completion of an Integrated Bankable Feasibility Study report for the 
project. 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 and signed an EPC contract with SEPCO III on the 19th December 2016.

The Company also has extensive gold focused interests in Lake Victoria Goldfields of 
northern Tanzania, including 100% owned projects with a 515,000 oz. JORC compliant 
gold Mineral Resource at the Imweru Project and a 240,000 oz. JORC 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.

The Company's projects are located in the established and gold prolific Lake Victoria 
Goldfields 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.

This announcement contains inside information as stipulated under the Market Abuse 
Regulations (EU) no. 596/2014 ("MAR").


Johannesburg 
30 March 2017
Corporate and Designated Adviser 
River Group


















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