To view the PDF file, sign up for a MySharenet subscription.

KIBO MINING PLC - Update on Katoro Gold PLC: Imweru Gold Project

Release Date: 31/05/2017 08:00
Code(s): KBO     PDF:  
Wrap Text
Update on Katoro Gold PLC: Imweru Gold Project

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:  IE00B97C031
("Kibo" or "the Company")


31 May 2017

Update on Katoro Gold PLC: Imweru Gold Project
Kibo Mining plc ("Kibo Mining") (AIM: KIBO; AltX: KBO), the Tanzania focused mineral 
exploration and development company, would like to draw shareholders' attention to the 
announcement released by Katoro Gold plc ("Katoro") at 7am today, regarding progress at the 
Imweru Gold project in Tanzania.
The body of the announcement released by Katoro is reproduced below:

Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")



31 May 2017

Work on Imweru Gold Project Commences

Katoro Gold plc ("Katoro" or the "Company") (AIM: KAT), the Tanzania focused gold 
exploration and development company, is pleased to announce that development work on the 
Imweru gold project in Tanzania has officially commenced. Operational teams were deployed to 
site over the past week and the first drill rig is expected to arrive on 1 June 2017. With the site and 
drill pad preparation already complete, drilling will commence immediately once the rig arrives on 
site.

Louis Coetzee, Executive Chairman of Katoro commented: "We are extremely pleased with the 
successful and rapid start of work on the Imweru project. As a result, we are now two months 
ahead of our previous work programme schedule which initially indicated that drilling would 
commence in Q3 2017. With this, the capability and capacity of the project team who are 
responsible for executing the Imweru work program, is also clearly demonstrated."



-ENDS-


Kibo Mining 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
Andrew 
Thomson
+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.  Kibo Mining 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 43-101compliant 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.

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's projects are located in central Tanzania and in the Mtwara Corridor in southern Tanzania 
where the Government has prioritized infrastructural development attracting significant recent 
investment in coal and uranium. Kibo Mining 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. Kibo Mining recognizes the potential to enhance the 
quality of life and opportunity for Tanzanian citizens through careful development of its projects.

Updates on the Kibo Mining'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
31 May 2017
Corporate and Designated Adviser 
River Group



Date: 31/05/2017 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story