KIBO MINING PLC - Kibo Mining Plc appointment of new broker and update on placement proceeds

Kibo Mining Plc appointment of new broker and update on placement proceeds

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: 5th March 2018


                         Kibo Mining Plc (‘Kibo’ or the ‘Company’)
              Appointment of new Broker and Update on Placement Proceeds
Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource
company, is pleased to announce a further update regarding Beaufort Securities Limited (“Beaufort”)
and the Company placement for gross proceeds of £750,000 announced on 27 February 2018 (the
“Placement”).

Kibo has today appointed SVS Securities Limited (“SVS”) as its new broker pursuant to AIM Rule 35
to replace Beaufort. Beaufort were placed into insolvency on 2 March 2018 and were ordered to cease
all regulatory activity by the Financial Conduct Authority. SVS, as exclusive placee in the above
referred placement, has subsequently agreed to complete the Placement with the Company on the same
terms as the Company had agreed with Beaufort as the company’s agent and without delay. Under the
new arrangement with SVS the Company expects the aggregate expenses associated with the
Placement to be £37,500.

Kibo’s CEO Louis Coetzee said: “We are pleased to appoint SVS as the Company’s new broker and to
have reached agreement with them to complete the placement announced on 27 February 2018 at such
short notice. This will ensure that the Company will receive the placement proceeds without any delay.”

Trading in the New Ordinary Shares is now expected to commence on AIM and the JSE on or around
6 March 2018 (‘Admission’) as initially advised. 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

 Ben Tadd /             +44 (0) 203 7000 093        SVS Securities Limited    Broker
 Tom Curran

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

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

5 March 2018

Corporate and Designated Adviser
River Group

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