KIBO MINING PLC - Kibo Mining Plc placing to Raise 750,000

Kibo Mining Plc placing to Raise £750,000

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’)

Dated: 27 February 2018

                           Kibo Mining Plc (‘Kibo’ or the ‘Company’)

                                     Placing to Raise £750,000

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource
company, is pleased to announce that it has received commitments to raise £750,000 before expenses
via a placing of 17,647,060 ordinary shares of par value Eur. 0.015 each (‘New Ordinary Shares’) at a
placing price of 4.25p per New Ordinary Share (the ‘Placing). The Placing has been arranged by Kibo’s
UK Broker, Beaufort Securities Limited and the Company expects to pay an aggregate of £75,000
expenses associated with the placement.

Kibo’s CEO Louis Coetzee said: “The funds raised today enable us to build on our strategy to create a
strategic regional electricity supplier. Our portfolio of power projects, including our flagship 300MW
Mbeya Coal to Power Project (‘MCPP’), is rapidly advancing and I look forward to updating both new
and existing shareholders on progress soon.”

Application will be made for the New Ordinary Shares to be admitted to trading on AIM and the JSE
AltX markets. Trading in the New Ordinary Shares is expected to commence on AIM and the JSE on
or around Monday 5th March 2018 (‘Admission’). Following Admission, the Company will have
412,901,424 shares in issue.

                                             **ENDS**

For further information please visit www.kibomining.com or contact:

 Louis Coetzee          louisc@kibomining.com      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) 20 7382 8300       Beaufort                   Securities Broker
                                                   Limited

 Andrew Thomson          +61 8 9480 2500           RFC Ambrian Limited        NOMAD on AIM

 Isabel de Salis / Priit +44 (0) 20 7236 1177      St Brides Partners Ltd     Investor  and Media
 Piip                                                                           Relations Adviser

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

Notes to editors
The Mbeya Coal to Power Project (‘MCPP’), comprises the development of the Mbeya Coal Mine, a
1.5Mt p/a mining operation and the Mbeya Power Plant, a 300 MW mine-mouth thermal power station.

The Mbeya Coal Mine has a defined 120.8 Mt NI 43 101 thermal coal resource. A Definitive Feasibility
Study has been conducted on the project which underpins its value with an indicated IRR of 69.2%.
The 300 MW mouth-of-mine thermal power station has long term scalability to 1000MW, with a full
Power Feasibility Study that has been completed, highlighting an annual power output target of 1.8 GW
based on annual average coal consumption of 1.5 Mt. An Integrated Bankable Feasibility Study report
for the entire project indicated total potential revenues of US$ 7.5-8.5 billion over an initial 25-year
mine life, post tax equity IRR between 21-22%, debt pay-back period of 11-12 years and a construction
period of 36 months.

To assist in the execution of this critical power project of the MCPP, Kibo has assembled an
international team of advisors and partners including Engineering Procurement and Construction
(‘EPC’) contractors and financial teams that are assisting in the advancement and development of the
MCPP. These include ABSA/Barclays as Financial Advisor, China based EPC contractor SEPCO III,
General Electric, Tractebel Engineering (Power), Minxcon Consulting (Mining) and legal advisors
Norton Rose Fulbright.


Johannesburg
27 February 2018
Corporate and Designated Adviser
River Group

Date: 27/02/2018 11:00:00 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.