Kibo Mining Plc Share Issue (8173G)
August 10 2016 - 8:00AM
UK Regulatory
TIDMKIBO
RNS Number : 8173G
Kibo Mining Plc
10 August 2016
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")
10 August 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 the fifth drawdown of the loan
facility (the "Facility") provided to the Company by Sanderson
Capital Partners Limited ("Sanderson"), the details of which were
announced in the Company's RNS of 03 March 2016.
In accordance with the terms of the Facility the Company has
today allotted 971,429 Ordinary Shares (the "Shares") of EUR0.015
par value each in the capital of the Company to Sanderson. The
Shares will be issued as a drawdown fee upon receipt of GBP300,000
from Sanderson, representing the fifth drawdown on the Facility of
up to GBP1,500,000 provided by Sanderson to the Company and will be
issued at a price of 5.25 pence per share.
Application will be made for the 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 16 August 2016
("Admission"). On completion of Admission the Company will have
355,603,745 shares in issue.
Contacts
+27 (0) 83 Kibo Mining Chief Executive
Louis Coetzee 2606126 plc Officer
-------------------- ------------- ------------------- -------------------------
Andreas Lianos +27 (0) 83 River Group Corporate Adviser
4408365 and Designated
Adviser on JSE
-------------------- ------------- ------------------- -------------------------
Jon Belliss +44 (0) 207 Beaufort Broker
382 8300 Securities
Limited
-------------------- ------------- ------------------- -------------------------
Oliver Morse +61 8 9480 RFC Ambrian Nominated Adviser
2500 Limited on AIM
-------------------- ------------- ------------------- -------------------------
Daniel Thöle +44 (0) 203
/ Anna Legge 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
Standard Bank 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 20th
April 2015, Kibo signed a Joint Development Agreement for the
completion of the Definitive Feasibility Studies and development of
the MCPP with China based EPC contractor SEPCO III.
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
10 August 2016
Corporate and Designated Adviser
River Group
This information is provided by RNS
The company news service from the London Stock Exchange
END
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