Kibo Mining Plc Share Issue (4232R)
December 09 2016 - 2:30AM
UK Regulatory
TIDMKIBO
RNS Number : 4232R
Kibo Mining Plc
09 December 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")
9(th) December 2016
Issue of Kibo Shares to Geological Service Provider from
Treasury Account
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX:
KBO), the Tanzania focused mineral exploration and development
Company has today issued 218,221 Ordinary Shares (the "Fee Shares")
in the capital of the Company to G&T Exploration Services Ltd
("G&T") from a Company held forfeited share treasury account
("Treasury Account"). The Fee Shares were issued in settlement of
invoices from G&T for geological services to the Company during
the period March to September 2016 and comprise a total amount of
GBP 13,638.80. The Fee Shares were issued to G&T at a price of
6.25 pence per share.
The Fee Shares were issued to G&T from the 1,377,523
forfeited shares ("Forfeited Shares") remaining in a Company
Treasury Account arising from the placing of the Company's former
broker, Hume Capital, in administration in March 2015. The
Forfeited Shares have already been admitted to trading on AIM so no
further application for the Fee Shares to be admitted to AIM is now
required. An application for the Fee Shares to be admitted to
trading on the JSE AltX markets is required ("JSE Admission"), and
pending approval for JSE Admission, trading on the JSE will
commence on or around 14(th) December 2016. On completion of JSE
Admission the Company's shares in issue will remain at 355,603,745
with a reduction in the number of Forfeited Shares in the Company's
Treasury Account to 1,159,302.
Contacts
Louis Coetzee +27 (0) 83 Kibo Mining Chief Executive
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 Securities
Limited
8300
--------------------- -------------- ------------------- -----------------------
Oliver Morse +61 8 9480 RFC Ambrian Nominated Adviser
2500 Limited on AIM
--------------------- -------------- ------------------- -----------------------
Investor and Media
Relations
Daniel Thöle +44 (0) 203 Bell Pottinger
/ 772
Anna Legge 2500
--------------------- -------------- ------------------- -----------------------
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
ABSA / Barclays 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 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
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
9(th) December 2016
Corporate and Designated Adviser
River Group
This information is provided by RNS
The company news service from the London Stock Exchange
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