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Update on MCPP in Tanzania

18 September 2018

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, notes the announcement by the Tanzania Electricity Supply Company (“TANESCO”) regarding the development of Independent Power Projects in Tanzania and the initiation of a tender process for superior coal technology and integrated gasification combined cycle power plants.

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Strategic Collaboration Agreement with General Electric To Develop Energy Projects

29 August 2018

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, is pleased to announce that it has signed a new expanded Collaboration Agreement with USA based General Electric (‘GE’), one of the world’s leading industrial technology companies, to work with Kibo towards the development of its portfolio of energy projects in Tanzania, Botswana and Mozambique as well as enhancing its strategy of delivering power solutions that alleviate Africa’s energy shortage.

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Acquisition of 60% Interest in UK Project Development Company

15 August 2018

Kibo Energy PLC (“Kibo” or the “Company”), the multi-asset, Africa focused, energy company, is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) for the acquisition (“the Acquisition”) of a 60% equity interest in Mast Energy Developments (“MED”), a private UK registered company targeting the development and operation of flexible power plants to service the Reserve Power generation market. Under the terms of the MOU, the Company can acquire a 60% shareholding in MED for a consideration of £300,000 payable to existing MED shareholders (“the Sellers”) in new Kibo shares and a share of future project revenue royalties, which will be reinvested in the Company in the short term to an amount of GBP 2.2 million. The full summary terms of the MOU are described further under the Key Terms section below.

MED’s business strategy is to acquire and develop a portfolio of small scale power generation assets. Various “shovel ready” sites have already been identified in the UK, capable of sustaining gas fired power generators and ancillary structures from 20MW upwards. They have full planning permission and permitting in place, long term lease agreements, grid & gas connection offers and positive feasibility studies, pertaining to technical and commercial viability.

Kibo’s initial review of MED’s business plan indicates that its first asset under acquisition in the UK described above can be up and running within 12 months, thus potentially providing revenue streams to Kibo in the short term. Similar lead time periods from site acquisition to generator installation and power generation are indicated for other projects of similar size in the UK. Financial modelling indicates projected IRRs of 13-16% and NPVs of GBP 16 -19 million for the initial assets described above. MED is exploiting a growth niche market in the UK for small scale Reserve Power generation to balance out the national grid at critical times.

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Change of Name

3 August 2018

Kibo Energy PLC (AIM:KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that the change of name to Kibo Energy PLC has become effective immediately on the AIM and the name change will follow the below timetable on the JSE.

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Results of AGM and Repositioning

30 July 2018

 

Kibo Mining PLC (AIM: KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that all resolutions were duly passed at its Annual General Meeting (“AGM”) held today. The AGM was attended in person and by proxy by shareholders holding approximately 38% of the shares in Kibo (624,792,973 shares  issued and  outstanding at the time of the AGM).

Included amongst the passed resolutions (specifically Resolution 8 – see Table below), the Company is pleased to announce that the change of name to Kibo Energy Public Limited Company (“Kibo Energy PLC” or “Kibo Energy”) has been approved by shareholders and will become effective upon receipt of confirmation of name change from the Registrar of Companies (“Receipt”). Trading in the Company’s shares under the new name is anticipated to take effect from the day following Receipt, with both to be announced in due course. The Company’s TIDM will remain KIBO.

With three power projects in development in Tanzania, Botswana and Mozambique, the Company believes that the new name, Kibo Energy completes the Company’s transformation from a resources company to a full-fledged energy company, positioning itself as a strategic and leading energy provider in sub-Sahara Africa.

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Details of Equity Placing

30 July 2018

Kibo Mining PLC (AIM:KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that it has received commitments from an Irish based Investment Fund to raise £500,000 via a placing of 9,523,810 ordinary shares in Kibo of par value. €0.015 each (‘New Ordinary Shares’) at a placing price of 5.25p per share (the ‘Placing’).

The funds from the Placing will go towards general working capital but more specifically to expedite ongoing advanced feasibility studies at the Mabesekwa Independent Coal to Power Project, Botswana (‘MICPP’, or ‘Mabesekwa’), and at the Benga Independent Power Project (‘BIPP’) following faster than expected progress on both projects over the past two months.

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 03 August 2018 (‘Admission’). Following Admission, the Company will have 634,316,783 shares in issue and this figure may be used by shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

Kibo CEO, Louis Coetzee said: “We are very pleased to see institutional investor interest in Kibo increasing steadily since Kibo announced its energy strategy and after completing the recent MCIPP and BIPP acquisitions. The latest placing at the significant premium of 25% sends a very strong message on what investors believe the value proposition is that Kibo has to offer.”

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Updated Corporate Presentation and Change of Advisor

27 July 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that an updated corporate presentation for the Company is now available to view on Kibo’s website. To access the presentation please copy and paste the following link to your web browser: www.kibo.energy

The Company is also pleased to announce that effective immediately, its new legal advisors for the Mbeya Coal to Power Project (“MCPP”) will be Hogan Lovells International LLP. replacing Norton Rose Fulbright (“NRF”). After the senior partner responsible for the MCPP at NRF recently joined Hogan Lovells the Company decided to follow to ensure continuity and stability in the ongoing sensitive legal work related to the MCPP PPA negotiations. For more information and background on Hogan Lovells please follow:  http://www.hoganlovells.com/.

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Mbeya Special Mining Licence Update

19 July 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that the Mining Commission, a constituent of the Tanzanian Ministry of Mines (“MoM”) responsible for the issuance of new mining licences, is ready to consider Kibo’s application for a Special Mining License (‘SML’) for the Mbeya Coal to Power Project (‘MCPP’) following the inclusion of a Local Content Plan (‘LCP’) and the Integrity Pledge (‘IP’) announced by the MoM on 13 July 2018.

Separately, Kibo anticipates submitting a mining licence application in Q3 2018 for its Mabesekwa Coal Independent Power Project (‘Mabesekwa’) in Botswana, where it is developing a similar project to the MCPP.

Kibo’s CEO, Louis Coetzee, said, “This latest development in relation to finalizing the SML for the mining component of the MCPP is most welcome as we now have a clearly defined procedure to follow under the new mining act in order to finalize our existing SML application. Kibo will prioritise providing the Mining Commission with the LCP and IP within the next two weeks, thereby ensuring that our SML application is fully compliant and ready for review. With the LCP and IP regulations now clearly defined and in place there are no outstanding components to the SML application, however in any event Kibo has always been compliant with almost all of the LCP and IP requirements, even before these became statutory requirements.

 “I’d very much like to extend my gratitude to Kibo’s staff for all the hard work done over the past few months, enabling us to enter the final stages of preparation to submit a mining licence application for the Mabesekwa project as well. We are optimistic that both licences shall be approved expeditiously although it should be noted that following submission the progress of the process is not within Kibo’s control.”

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Strategic Development Agreement with SEPCOIII, To Develop Energy Projects

03 July 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset, Africa-focused, energy company, is pleased to announce that it has signed a Strategic Development Agreement (‘SDA’) with China based SEPCOIII (‘SEPCOIII’), one of the world’s largest power EPC contractors, to work with Kibo towards enhancing its strategy and the development of its portfolio of energy projects. As part of the SDA, SEPCOIII has committed to a two-stage equity investment into Kibo, endorsing the Company’s strategy and its position in the African power market.

Highlights

  • Strategic relationship provides Kibo with one of the world’s largest power EPC contractors to execute its three existing energy projects and any additional future energy projects;
  • Equity investments will provide Kibo with the funds necessary to fulfil its capital requirements over the short to medium term and endorse the Company’s strategy to position the Kibo as a leading regional energy player in Africa;
  • Significant advantages of having an intentional recognised industry leader’s support and resources in both project fulfilment, development and financing negotiations; and
  • Kibo believes SEPCOIII’s involvement in EPC and equity finance endorses and underpins Kibo’s business model.

Kibo’s CEO, Louis Coetzee, said, This is excellent news for Kibo on multiple levels: it is a major endorsement by one of the world’s largest power EPC contractors of both our portfolio and strategy aimed at alleviating the acute energy deficit in Africa; it provides us with short to medium term cash stability; and it further strengthens our network of key partners and institutional investors to support us as we advance our portfolio of energy projects. Crucially, SEPCOIII’s commitment of support significantly strengthens Kibo’s position in project development paths as well as future financing negotiations due to its international reputation and record of delivery of large scale utility energy projects globally.

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MBEYA COAL TO POWER PROJECT POWER PURCHASE AGREEMENT UPDATE

29 June 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset, Africa-focused, energy and resource company, is pleased to announce that, having submitted a reformatted Integrated Bankable Feasibility Study (‘IBFS’), it has, in accordance with the agreed amended PPA-process, reached the final phase of discussions regarding the Power Purchase Agreement (‘PPA’) for the Mbeya Coal to Power Project (‘MCPP’) with the Tanzania Electric Supply Company (‘TANESCO’).

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Press Speculation

29 June 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, announces that, contrary to press speculation, its engagement with the Tanzania Electric Supply Company (‘TANESCO’) with regard to the development of the Mbeya Coal to Power Project (‘MCPP’) remains unchanged and the Company is continuing to advance its discussions with TANESCO regarding the Power Purchase Agreement (‘PPA’) for the 300MW MCPP.

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Benga JV Finalised and Feasibility Study Commences on Mozambique Power Project

28 June 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and resource company, is pleased to announce, further to the RNS of 6 June 2018, that it has finalised the Joint Venture Agreement (‘JV’) with Mozambique energy company Termoeléctrica de Benga S.A. (‘Termoeléctrica’) regarding the development of the Benga Independent Power Project (‘Benga’, ‘BIPP’, or ‘the Project’).

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Notice of AGM including proposed changes and Audited Financial Statements

25 June 2018

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and resource company, is pleased to announce that its full audited financial results for the year ended 31 December 2017 and Notice of Annual General Meeting are now available on its website as part of its 2017 Annual Report and can be accessed on the following link Kibo Mining Annual Report 2017.

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Vox Markets Podcast

22 June 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa focussed energy and resource company is pleased to announce that Kibo’s CEO, Louis Coetzee, is appearing on the Vox Market Podcast today. Mr Coetzee will provide an update about recent developments including the sale of the Haneti Nickel project (announced 22 June 2018) and the implications of the recently announced World Bank’s $455 million loan to the Tanzania-Zambia Transmission Interconnector Project on the Mbeya Coal to Power Project.

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Sale of Haneti Nickel Project

22 June 2018

 

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset Africa focused energy and resource company is pleased to announce that its wholly owned subsidiary Kibo Mining (Cyprus) Ltd (the ‘Seller’) has sold Kibo Nickel Limited (‘Kibo Nickel’) to Katoro Gold Ltd (‘Katoro’) in an all share transaction (‘the Sale’). This is in line with Kibo’s strategy of becoming a major regional power player in Africa as the Sale allows it to focus on its three energy projects currently in development.

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Maiden SAMREC-Compliant Coal Resource Statement for Mabesekwa

21 June 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and resource company, is pleased to announce an update on its 85% controlled Mabesekwa Coal Independent Power Project (‘MCIPP’ or the ‘Project’) in Botswana, which it is developing with Botswana listed energy company Shumba Energy Limited (“Shumba”).

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Power JV in Mozambique Delivers Further on Strategy to Develop Regional Energy Group

06 June 2018

Kibo Mining Plc (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and resource company, is pleased to announce that it has signed a Joint Venture Agreement (the ‘Benga Power Joint Venture’ or ‘JV’) with Mozambique energy company Termoeléctrica de Benga S.A. (‘Termoeléctrica’) to participate in the further assessment and potential development of the Benga Independent Power Project (‘BIPP’), including the right to construct and operate a 150-300MW coal fired power station. Kibo and Termoeléctrica shall hold initial Participation Interests in the unincorporated joint venture of 65% and 35% respectively.

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Final Lot of Engineering, Procurement and Construction Contract Signed on MCPP

21 May 2018

Kibo Mining plc (‘Kibo’ or the ‘Company’) (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, is pleased to announce that the Company has awarded Sepco III, Kibo’s Chinese development partner, the second lot of the Engineering, Procurement and Construction (“EPC”) (Power) contract involving the construction of the Power Line that will evacuate power from the Mbeya Power Plant in the Songwe District to the TANESCO Mbeya sub-station.

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Change of South African Share Registrar

17 May 2018

Kibo Mining plc (‘Kibo’ or the ‘Company’) (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company is pleased to announce that effective from 7 a.m. Friday 1st June 2018, its new Share Registrar (Transfer Secretary) in South Africa will be:

Link Market Services South Africa (Pty) Ltd

13th Floor,

19 Ameshoff Street Braamfontein

Postal Address:

PO Box 4844, Johannesburg, 2000

Telephone: 011 713 0800

Facsimile: 086 674 4381

E-mail info@linkmarketservices.co.za

 

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Partial Settlement of Sanderson Capital Partners Ltd Facility and Board of Directors Change

Dated: 01 May 2018

Kibo Mining plc (‘Kibo’ or the ‘Company’) (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, has today issued 8,370,716 new ordinary Kibo shares (the ‘Conversion Shares’) of par value €0.015 each to Sanderson Capital Partners Limited (‘Sanderson’) as a partial settlement on the balance of funds drawn down under the forward payment facility between Kibo and Sanderson announced on 21 December 2016.   The Conversion Shares, which were issued at a price of 5p per Kibo share, are in respect of a repayment amount of $568,712.

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Update on the UK Investor Show

17 April 2018

Kibo Mining plc (‘Kibo’ or the ‘Company’) (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company remains engaged with Tanzania Electric Supply Company (‘TANESCO’) in the ongoing process for the Power Purchase Agreement (‘PPA’) on the Company’s Mbeya Coal to Power Project (‘MCPP’). Due to the critical importance and extent of these ongoing talks, as well as the immediate mobilization of work at the Mabesekwa project in Botswana, Kibo’s management team is unable to attend the UK Investor show in London on 21 April as planned. The Company will however hold a private shareholder and investor event in the near future and details will be advised once they are finalised.

Louis Coetzee, CEO of Kibo Mining, said: “It is regrettable that Kibo is unable to have a presence at the UK Investor Show, but executive management’s undivided attention is required in Tanzania during these crucial discussions. However, I look forward to meeting shareholders and investors at a private Kibo investors evening in London, where we can engage with and respond to the shareholders questions in a more personal environment.

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Details of Placing, Changes to the Roles of Directors and Appointment of Joint Broker

10 April 2018

Kibo Mining plc (‘Kibo’ or the ‘Company’) (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, is pleased to announce that it has received commitments to raise £1,500,000 before expenses via a placing of 28,571,428 ordinary shares in Kibo of par value. €0.015 each (‘New Ordinary Shares’) at a placing price of 5.25p per share (the ‘Placing’).

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Correction on Broker Information

05 April 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset Africa-focused energy and resource company, wishes to apologize for providing the incorrect broker information in the RNS dated 05 April 2018 released earlier today.

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MCPP Purchase Agreement Update

05 April 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset Africa-focused energy and resource company, is pleased to announce that the Company has received confirmation from the Tanzania Electric Supply Company (‘TANESCO’) today that a work session for the full Power Purchase Agreement (‘PPA’) task team, has been convened for Tuesday 10 April 2018.

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Tanzanian Government Prioritises Private Sector

Dated: 21 March 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Tanzania focused energy and resource company, notes recent comment in the press regarding the Tanzanian President’s pledge to support the private sector at the 11th Tanzania National Business Council (‘TNBC’) meeting at the State House.

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Update on Broker and Placement Proceeds

Dated: 2 March 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, notes the announcement regarding Beaufort Securities Limited (“BSL”) and Beaufort Asset Clearing Services Limited (“BACSL”) being placed into insolvency. Additionally, the Company notes that the Financial Conduct Authority (“FCA”) has also imposed requirements on BSL and BACSL, with immediate effect, requiring them to cease all regulatory activity.

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Correction to Kibo RNS dated 24 February 2017

Dated: 1 March 2018

The Company wishes to inform shareholders that the 10,000,000 warrants at an exercise price of 9p shown as outstanding to Metal Tiger plc in Kibo’s RNS of 24 February 2017 expire on 23 March 2018 and not on 25 February 2018 as stated in the RNS. The Company apologises for this typographical error.

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Press Speculation

Dated: 27 February 2018

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, announces that, contrary to press speculation, the company has not yet signed a PPA with Tanzania Electric Supply Company (‘TANESCO’), however it remains in advanced discussions with TANESCO and the Ministry of Energy (‘the Ministry’) regarding the Power Purchase Agreement (‘PPA’) for the Company’s flagship 300MW Mbeya Coal to Power Project (‘MCPP’). The PPA will enable Kibo to move towards execution and conclusion of the final development phase of the MCPP.

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Placing to Raise £750,000

Dated: 27 February 2018

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.

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KIBO signs MOU with TANESCO on MCPP

14 February 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset Africa-focused energy and resource company, is pleased to announce that the Company signed a Memorandum of Understanding (‘MOU’) with the Tanzania Electric Supply Company (‘TANESCO’) today, for the Power Purchase Agreement (‘PPA’) of the Company’s flagship 300MW Mbeya Coal to Power Project (‘MCPP’). The MOU constitutes the precursor to the finalisation of the PPA with TANESCO which is expected to be finalized as early as the end of Q1 2018, in accordance with the timeline previously agreed with TANESCO and the Ministry of Energy (‘the Ministry’).

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MCPP – MOU Update

05 February 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset African focused energy and resource company, announces that following a month of close interaction and co-operation with the Tanzania Electric Supply Company (‘TANESCO’) and the Ministry of Energy ‘(the Ministry’), at both departmental as well as ministerial level, the Company CEO and COO arrived in Dar es Salaam on 02 February 2018 to conclude final formalities related to the signing of the MCPP Memorandum of Understanding. (Also see RNS dated 10 January 2018 in this regard).

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Mbeya Coal to Power Project MOU and PPA Update

10 January 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset, African focused energy and resource company, is pleased to announce an update on the Memorandum Of Understanding (‘MOU’) and Power Purchase Agreement (‘PPA’) for the Mbeya Coal to Power Project (‘MCPP’) following a productive meeting with the Tanzania Ministry for Energy (‘the Ministry’) and Tanzania Electric Supply Company (‘TANESCO’) on Monday 8 January 2018 during which significant progress was made towards the expedited completion of the PPA process.

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Mbeya Coal to Power Project MOU Update

5 January 2018

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset African focused energy and resource company, is pleased to confirm that further to the meetings held with the Ministry of Energy (‘ME’) in late December 2017, the ME has called a meeting on Monday 8 January with Kibo and the Tanzania Electric Supply Company (‘TANESCO’) to finalise the Mbeya Coal to Power Project (‘MCPP’) MOU; accordingly, the Company remains optimistic that the MOU will be completed as announced on 18 December 2017. It should be noted that the Tanzanian holidays differ from the UK, with fewer ‘working days’ over the Christmas period.

The Company had arranged to present at a Proactive Event in London on 11 January 2018, however, the meeting with the ME has taken precedence and accordingly Kibo has postponed its attendance at the event.

Kibo’s CEO, Louis Coetzee, said: “Given the continued urgency by the ME to fast-track the MCPP as the Tanzanian Government focuses on delivering 5GW installed generation capacity by 2020 with a further 7GW to be added in the following five years, we remain optimistic for 2018. During the year, we anticipate hitting various value trigger points regarding the MCPP including the completion of the MOU and the final Power Purchase Agreement during Q1, and look forward to building Kibo as a strategic regional electricity supplier.”

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Mbeya Coal to Power Project MOU and PPA Update

18 December 2017

Kibo Mining Plc (AIM:KIBO; AltX:KBO), the multi-asset African focused energy and resource company, is pleased to announce that the newly formed Tanzania Ministry for Energy (‘The Ministry’) has committed to an indicative timeline for the completion of the MOU for the fast-tracking of the Mbeya Coal to Power Project (‘MCPP’).

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Shareholder Conference Call

7 December 2017

Kibo Mining Plc (AIM: KIBO; AltX: KBO) is pleased to announce that it shall be hosting a Shareholder conference call on Monday 11 December 2017, at 3pm (GMT) in line with its commitment to maintaining positive engagement with its shareholders.

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Evolving Strategy to Re-Position as an Energy Company With Acquisition of Strategic Botswana Power Project

30 November 2017

Kibo Mining Plc (AIM:KIBO; AltX:KBO) is pleased to announce the agreed acquisition of an 85% interest in the Mabesekwa Coal Independent Power Project in Botswana (‘the Project’ or ‘Mabesekwa’) in an all share transaction (the “Transaction”). This is a major part of Kibo’s strategy focused on re-positioning itself as a strategic regional electricity supplier on the back of its flagship Mbeya Coal to Power Project (‘MCPP’) in Tanzania.

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Monthly Q&A for Investors

17 November 2017

Kibo Mining plc (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company is pleased to announce that its monthly Q&A session for investors, hosted by Vox markets, will be released during the course of the day on Friday 17 November 2017.

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Updated MCPP MOU to fast-track Development and Implementation of PPA

Dated: 16 November 2017

Kibo Mining Plc (AIM: KIBO; AltX: KBO), the multi-asset resource, development and energy company focused on Tanzania, is pleased to announce that, following consultation with the Tanzanian Ministry of Energy and the Tanzania Electric Supply Company (‘TANESCO’), is was agreed to update the existing Memorandum of Understanding (‘MOU’) re a Power Purchase Agreement (‘PPA’) for the development and implementation of the Mbeya Coal to Power Project (‘MCPP’), to provide for a more streamlined process with materially shorter time lines for PPA finalisation.

The Company has been in very constructive engagement with the Tanzanian Government and TANESCO over the past two months (see recent RNS’) to conclude the updated MOU that will govern the process to agree and implement the PPA. All stakeholders have recognised that the development and implementation of a PPA for the MCPP must be expedited quickly given the significant delays over the past year, as well as the strategic importance of the MCPP. As a result, all parties have agreed to replace the original MOU and update it to streamline the process for conclusion of the PPA. This updated MOU has subsequently been approved and confirmed in writing by the board of TANESCO, and authorized for immediate implementation.

Accordingly, the approved updated MOU has now been submitted to all other concerned parties, i.e. Ministry of Energy and the Attorney General, for endorsement before final signing by Kibo and TANESCO.  This remaining administrative process is already underway, and the Kibo Board believes it will be completed imminently. Kibo anticipates providing further information on the material details of the updated MOU and the expedited time lines therein once the updated MOU has been fully executed.

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Visit to China and attendance at OBOR summit in Beijing

31 October 2017

Kibo Mining Plc (AIM: KIBO; AltX: KBO), the multi-asset resource, development and energy company focused on Tanzania, is pleased to announce that CEO Louis Coetzee will be presenting at the One Belt One Road (‘OBOR’) summit in Beijing this week, highlighting the critical energy situation in Southern Africa and the development of the Mbeya Coal to Power Project (‘MCPP’).

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MCPP granted ESIA Certification

27 October 2017

Kibo Mining Plc (AIM: KIBO; AltX: KBO), the multi-asset resource, development and energy company focused on Tanzania, is pleased to announce that an Environmental and Social Impact Assessment (“ESIA”) Certificate has been awarded to both the Mbeya Coal Project and to the Mbeya Power Generation Project by the Tanzanian Government.

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Monthly Q&A for Investors

12 October 2017

Kibo Mining plc (AIM: KIBO; AltX: KBO), the  Tanzania focused mineral exploration and development company is pleased to announce that its monthly Q&A session for investors, hosted by Vox markets, will be released today.

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Conversion of Loan Notes

Dated: 28 September 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that all subscribers (“Subscribers”) to the convertible loan notes (the “Notes”) that it issued on the 27 September 2017 (refer RNS of 27 September 2017) have elected to convert the Notes to Kibo shares under the terms of the Notes (“the Conversion Shares”).

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CONVERTIBLE LOAN NOTES

Dated: 27 September 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company announces it has today (27 September 2017) issued £1,550,000 in convertible loan notes (the “Notes”) in the Company to a new high net worth investor, Directors and management of the Company, and Sanderson Capital Partners Limited (“Sanderson”).

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Kibo Mining Plc Moves Closer to Concluding MOU and Securing Equity Funding for the MCPP

18 September 2017

 

Kibo (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that it has made considerable progress in both securing project financing and progressing the Power Purchase Agreement (‘PPA’) with Tanzania’s sole energy provider, Tanzania Electric Supply Company Ltd (‘TANESCO’) in relation to its advanced Mbeya Coal to Power Project (‘MCPP’).

The MCPP is the Company’s flagship asset, which entails the development of the Mbeya Coal Mine, a 1.5Mtpa operation, based on a defined 120.8Mt coal Mineral Resource, and the Mbeya Power Plant, a 300MW mine-mouth power station. The MCPP is being advanced to capitalise on the acute energy deficit in Tanzania and the wider East African region and has received strong support from both the Government and international corporates. The Company has received formal Letters of Intent from multiple international EPC/power developers and financing conglomerates keen to provide full project level equity funding for the MCPP. Accordingly, advanced negotiations with all potential project level investors to determine the optimal partner(s) are currently underway.

Additionally, the Company’s Memorandum of Understanding (‘MOU’), as a precursor to the final PPA with TANESCO, has passed all the relevant legislative stages and is waiting for final confirmation from the Attorney General. The Company anticipates updating shareholders further on progress in this respect in the near future. The MOU, once signed, will provide a fixed framework within which the fundamental commercial and technical components of the PPA will be negotiated and agreed.

Louis Coetzee, CEO of Kibo mining, said: “Throughout the years we have enjoyed an excellent working relationship with the Tanzanian Government, and we continue to work successfully under the new mining framework. Having so many global powerhouses expressing a keen interest to partner with us is a fantastic validation of Kibo, the work we’ve done at the MCPP (which recently won the General Electric Innovation Award), and the inherent value of the project. Furthermore, and importantly, their interest emphasises that international companies have a continuing belief in Tanzania as an attractive investment destination.  With the final negotiation of the PPA approaching, full Feasibility Studies complete and development finance on its way to being secured, this nationally significant project is reaching a tipping point that I believe will see stakeholders rewarded.”

**ENDS**

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Monthly Q&A for Investors

Dated: 12 September 2017

Kibo Mining plc (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company is pleased to announce that its monthly Q&A session for investors, hosted by Vox markets, will be released today.

Investors who wish to take part in the sessions can send their questions to investors@kibo.energy and register with Vox Markets at www.voxmarkets.co.uk.

Vox Markets is an award-winning service that provides the sophisticated investment community with aggregated information from a variety of sources.  To learn the latest on Kibo follow ‘KIBO’at www.voxmarkets.co.uk/company/KIBO to receive push notifications when Kibo features in the press, releases an RNS or features on a podcast interview.

**ENDS**

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Kibo Mining Plc Wins GE Innovation Award for Power Project

Date: 08 September 2017

Kibo Mining plc (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce the Company has won the Innovative Project Development Deal of the Year 2017 at the General Electric awards held in New York USA, on 7 September 2017.

Louis Coetzee, CEO of Kibo Mining, said: “We are thrilled to receive this recognition from General Electric Africa in relation to the Mbeya Coal to Power Project. With innovation, we have been able to improve the economic viability of the Project, which is crucial to Tanzania’s energy dynamic. We are receiving strong endorsements from the corporate, financial and political arenas as we look to deliver an exceptional project for the benefit of all stakeholders. Furthermore, we welcome the challenge to set the benchmark for innovation in the resource sector, which will not only benefit our Tanzanian power project but the industry more generally.”

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Kibo Mining Plc Appointment of Adviser  

Dated: 05 September 2017

Kibo Mining plc (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that it has appointed St Brides Partners Ltd as its investor and media relations representative.

**ENDS**

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MCPP finalizes Transmission Line Bid

29 August 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that the Company has over the past week concluded the final bid clarification with regard to the construction of the transmission line that will evacuate power from the Mbeya Power Plant in the Songwe District to the TANESCO Mbeya sub-station.

The Engineering, Procurement and Construction (“EPC”) (Power) contractual work was divided into two lots, i.e. Lot 1, the Power Station EPC contract, and Lot 2, the Power Line Construction EPC contract. Lot 1 was awarded conditionally to SEPCO III during December 2016 with Lot 2 to be finalised subject to concluding a comprehensive line study. Following completion of various technical studies related to the transmission line, most notably an in–country line reconnaissance and survey by a combined Tractebel Engineering and SEPCO III team, a final bid was prepared and submitted to the Company by SEPCO III. Kibo Mining and Tractebel Engineering conducted and concluded a clarification workshop regarding the aforementioned final bid with the SEPCO III technical team on 21 and 22 August 2017 in Beijing, China. The purpose of the clarification workshop was to finalise the technical component of the Power Line Construction EPC contract which is to be awarded to SEPCO III as an integral part of the Power Station EPC contract, subject to final technical, financial and operational benchmarking that will be conducted by Tractebel Engineering over the course of the next month.

Louis Coetzee, CEO of Kibo Mining, said: “Finalization of the transmission line bid concludes all technical development work on the MCPP prior to financial close. The Company is also continuing to make significant progress on the remaining work streams it has reported on over the past two months, with further updates to follow in this regard.”

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Mbeya Coal to Power Project (“MCPP”) – Update

22 August 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to provide the following update following the Company’s RNS dated 26 July 2017:

  • An updated MOU, in reply to an official instruction by the Tanzanian Ministry of Energy and Minerals (“MEM”), to the Company and TANESCO to prepare a final Memorandum of Understanding that will govern the further development of the MCPP in general and the Power Purchase Agreement (“PPA”) in particular, has been duly submitted as instructed.  A version of the MOU approved for execution is expected shortly, subject to any further request(s) for clarification that may be received;
  • The Company has progressed discussions with various internationally recognized infrastructure investors that had formally expressed interest in an equity investment in the MCPP.  Formal negotiations with these groups will be undertaken over the coming weeks, with the objective of working towards finalizing a comprehensive funding arrangement that will satisfy the MCPP equity funding requirement; and
  • The Company did not receive any further clarification requests from the Tanzania National Environmental Management Council (“NEMC”) over the past weeks with regard to the MCPP Environmental & Social Impact Assessment (“ESIA”) and final certification is expected shortly.

Louis Coetzee, CEO of Kibo Mining, said: “Over the past two months we have seen a significant increase in momentum in all the MCPP work streams and from the above update it is clear that this trend will continue for the foreseeable future. The Company has an extremely busy and exciting period ahead of it”.

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Comment on Proposed Legislative Changes to Tanzania Mining Act

04 July 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused
mineral exploration and development Company, notes the submission of proposed legislation to
the Tanzanian Parliament which recommends material changes to the legal framework concerning
the natural resources sector in Tanzania.

Kibo is currently reviewing the proposed legislation and will continue to monitor the situation
closely.  The Company will provide an update to the market when appropriate.

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Results of Annual General Meeting

30 June 2017

Shareholders are advised that the Annual General Meeting of Kibo Mining plc (“Kibo”) held today was attended in person and by proxy by shareholders holding approximately 6.53 % of the shares in Kibo (364,254,364 issued and outstanding).

All the resolutions proposed were approved and they will be registered with the Companies Registration Office (Ireland).  The voting details are shown on the table below.

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Kibo at Proactive-Investors One2One evening on 29th June 2017 in London

Dated: 23 June 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to confirm that it will be presenting at the One2One Investors Forum held at the Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB, on Thursday, 29th June 2017.

The event starts at 6:00pm, with the Company presenting from 7:00pm – 7:30pm.

The Company’s latest updated corporate presentation can now also be viewed at  www.kibo.energy

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Accelerated Development of MCPP Gains Significant Momentum from Latest Follow-up Discussions with Tanzanian Stakeholders

14 June 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that a series of meetings, held with the key Tanzanian stakeholders in the MCPP resulted in significant progress for the further development of the Project.

The recent request for an expedited development of the MCPP (See RNS of 01 June 2017) was followed by active interaction between all stakeholders in the MCPP, which culminated in a series of progress meetings held on the 12th and 13th June 2017. The following key points emanated from said meetings:

  1. A clear agenda and associated schedule has been agreed with relevant Government stakeholders to work on those specific development aspects of the MCPP that are dependent on negotiating, agreeing and concluding agreements/approvals with the Tanzanian Government;
  2. The Environmental and Social Impact Assessment (“ESIA”) submissions for the Mbeya coal mine and Mbeya Power station have been duly processed for certification, pending a final review and verification of recommendations, with the final review in an advanced stage of completion;
  3. The special mining licence (“SML”) application for the Mbeya coal mine has been processed in its entirety and is now awaiting final approval, pending environmental certification;
  4. Engagement with the Ministry of Energy and Minerals (“MEM”) on the latest developments in relation to possible further changes in mining policies and the Mining Act has reconfirmed that the Company’s operations are not affected by the current debate on mining policies and the Mining Act.
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Annual Report and Notice of AGM

08 June 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on coal, gold and nickel projects in Tanzania, is pleased to announce that its full audited financial results for the year ended 31 December 2016 and Notice of Annual General Meeting are now available on its website as part of its 2016 Annual Report and can be accessed on the following link Kibo Mining Annual Report 2016. Individual Forms of Proxy for this year’s Annual General Meeting are being posted (e-mailed where requested) to all Shareholders today, and those shareholders who have requested hard copy documentation or for which no email addresses are available will receive the Annual Report (which contains the Notice of AGM) in the post.

The Company’s 2017 AGM will take place at 10 a.m. on Friday, 30th of June 2017 at the Conrad Hotel, Earlsfort Terrace, St Stephen’s Green, Dublin 2, Ireland.

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Kibo Monthly Q&A for Investors

08 June 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company is pleased to announce that its next monthly Q&A session for investors, hosted by Vox markets, will be released on 12 June 2017.

Investors who wish to take part in the sessions can send their questions to investors@kibo.energy and register with Vox Markets at www.voxmarkets.co.uk/

Vox Markets is an award-winning service that provides the sophisticated investment community with aggregated information from a variety of sources.  To learn the latest on Kibo follow ‘KIBO’ at  www.voxmarkets.co.uk/company/KIBO to receive push notifications when Kibo features in the press, releases an RNS or features on a podcast interview.

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Rationalization of Lake Victoria Early Stage Licence Portfolios

02 June 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that following a comprehensive technical and commercial review of its mineral licence portfolio in Tanzania it has relinquished several early stage non-core prospecting licences, licence offers and licence applications (together “the Licences”) in the Lake Victoria Region. This relinquishment (the “Rationalization”) is in line with the Company’s strategy to focus resources on its MCPP development projects (coal mining & coal to power), Haneti project (nickel), and the Imweru & Lubando projects (gold) held by Katoro Gold PLC (“Katoro”) in which Kibo is a 57.1% shareholder.

Lake Victoria Project

The Rationalization was carried out as part of the process of facilitating the spin-out of Kibo’s key gold resource based projects, Imweru and Lubando in the region, to Katoro (admitted to trading on AIM on 23 May 2017). The effect of the Rationalization is that the Company has now surrendered most of its early stage gold Licences in the Lake Victoria Goldfields (“LVG”) of northern Tanzania and its sole remaining gold interests in this region are in the greater Imweru and Lubando licence portfolios through its majority interest in Katoro. Altogether 79 Licences were surrendered constituting a total Licence area of approximately 800 km2. The surrendered Licences cover various non-contiguous single Licence and small Licence blocks scattered throughout the LVG. All the Licences are at a very early stage of exploration and no longer contribute towards the Company’s strategic development objectives.

Maps showing the Company’s updated Licence holdings in the Lake Victoria Region following the Rationalization can be found within the Lake Victoria project page on the Company’s website www.kibo.energy.

Louis Coetzee, CEO of Kibo Mining, said: “Rationalization of our Lake Victoria project is a result of a continuous in-house evaluation of our mineral portfolios to ensure they are aligned with and positively support and contribute towards our corporate development strategy. The significant cost savings and additional availability of resources from this rationalization will be re-assigned to our flagship MCPP and Haneti nickel projects.”

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Mbeya Coal to Power Project (“MCPP”) Receives Formal Reconfirmation to Continue with Accelerated Development of MCPP

01 June 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that following extensive interaction with the Ministry of Energy and Minerals (“MEM”) over the past month, the Company has received written reconfirmation from the MEM calling for expedited development of the MCPP. The letter follows a period during which the MEM has been the subject of in depth policy reviews and management changes.

Louis Coetzee, CEO of Kibo Mining, said: “We are very pleased with the latest response from the MEM, following recent policy and structural changes at the MEM and TANESCO. The process of negotiating and agreeing a final power purchase agreement should now progress at a considerably faster pace than over preceding months, as this remains the key to completing development of the MCPP.

We are particularly encouraged by the MEM’s acknowledgement of the very advanced development status of the MCPP and its key role as a strategic regional power hub able to tackle the unique challenges faced by the Tanzania energy sector at all levels, thereby providing a catalyst for further economic development.”

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Condensed Consolidated Annual Financial Results for the year ended 31 December 2016

26 May 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on coal, gold and nickel, projects in Tanzania is pleased to release its condensed consolidated annual financial results for the year ended 31 December 2016. The Company’s Annual Report, which contains the full financial statements accompanying this announcement, is in the process of being prepared for dispatch to shareholders. A copy of this Annual Report will be available on the Company’s website at www.kibo.energy. Details of the date and venue for this year’s AGM, which will take place towards the end of June, will be announced shortly.

Highlights from the Chairman, Christian Schaffalitzky’s statement:

2016 saw our Company build further on the milestones reached during 2015 with the completion of a number of critical studies in regard to our flagship MCPP project and the spin-off of our key gold assets (Imweru and Lubando) to a new gold focused company, Katoro Gold PLC (“Katoro”). These strategic events were achieved while simultaneously levering the value created in the MCPP to arrange efficient funding mechanisms that minimised shareholder dilution.

Kibo Mining’s key achievements are:

  • The completion of the definitive feasibility studies (DFS) on both the proposed coal mine and its dedicated power plant at our Mbeya Coal to Power Project (MCPP);
  • Signing of a collaboration agreement with the multinational US based GE Electric International in November 2016 which provided for GE to supply equipment, technology and services to the power plant;
  • The negotiation and awarding of the engineering, procurement and construction (“EPC”) contract for the power plant construction to SEPCO III and the OEM contract to GE;
  • The completion of the Integrated Bankable Feasibility Study on the MCPP (announced January 2017); and
  • The completion in May 2017 of a reverse takeover transaction with Opera Investments Plc (renamed Katoro Gold PLC) which saw Katoro acquire the Imweru and Lubando licence portfolios, be admitted to AIM and raise £1.5 m for the advancement of a DFS at Imweru.
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Update on Opera Reverse Take Over Transaction

05 May 2017

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 Opera Investments plc (“Opera”) at 8am today regarding the proposed transaction by Opera to acquire the Imweru and Lubando Gold Projects (the “Assets”) from Kibo Mining (“the Proposed Transaction”).

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Kibo commences monthly Q&A for investors

12 April 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company is pleased to announce that it is commencing a monthly Q&A session for investors, hosted by Vox markets.

To take part in the sessions, send your questions to investors@kibo.energy and register with Vox Markets at www.voxmarkets.co.uk/

Vox Markets is an award-winning service that provides the sophisticated investment community with aggregated information from a variety of sources. To learn the latest on Kibo follow ‘KIBO’ at  www.voxmarkets.co.uk/company/KIBO to receive push notifications when Kibo features in the press, releases an RNS or features on a podcast interview.

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Kibo Initiates Diversified Production Strategy for Mbeya Coal Mine

30th March 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that the Company has decided, after careful study of the MCPP Integrated Bankable Feasibility Study (“IBFS”) results as well as latest policy changes in Tanzania, to implement a diversified production strategy for the Mbeya Coal Mine.

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Kibo Mining meets all its Q1 2017 Strategic Objectives successfully

23 March 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to provide a summary update of progress and activities during Q1 2017.

  • Continued liaison with the Tanzanian Government on the results of its Integrated Bankable Feasibility Study (“IBFS”) confirmed that the Company is well placed to conclude negotiations on a Power Purchase Agreement (“PPA”) following completion of Tanzanian Electric Supply Company (“TANESCO”) restructuring and Minister of Energy and Minerals (“MEM”) policy changes;
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MCPP Delivers First Classrooms as Part of Long Term Education Strategy in Songwe Region

06 March 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that on Friday, 3 March 2017, the CEO of Kibo Mining PLC (“Kibo”), officially unveiled and handed over two newly built classrooms to the Regional Commissioner of Songwe, Tanzania.

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Update on Proposed Acquisition by Opera of the Imweru and Lubando Gold Projects from Kibo Mining plc (“Kibo”)

02 March 2017

Further to the announcements made by Kibo and Opera on 23 September and 2 December 2016, Opera and Kibo are pleased to announce the following update on the proposed transaction by Opera to acquire the Imweru and Lubando Gold Projects from Kibo (“the Proposed Transaction”). Opera and Kibo are pleased to confirm that the transaction documentation in connection to the Proposed Transaction is nearing completion.

Resource Update on Imweru and Lubando Gold Projects

As part of the Proposed Transaction, under applicable regulation and commercial requirements, Opera has commissioned an appropriately qualified expert, Minxcon (Pty) Ltd, to undertake a Competent Person’s Report, an evaluation of the geological assets to be acquired from Kibo by Opera. As part of this review, the directors of Opera and Kibo have received an update to the resources of Imweru and Lubando Gold Projects.

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Notifiable Holding Change

01 March 2017

Kibo Mining plc (the “Company”) announces that it has today received formal notice from Sanderson Capital Partners Ltd (“Sanderson”) that it and related parties currently hold 10 977 994 shares in the Company, representing 3.02% of Kibo’s issued share capital as per the Form RT-1 declaration below.

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Cessation of Metal Tiger Joint Ventures in Tanzania

24 February 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that it has reached agreement with Metal Tiger plc, the Company’s Joint Venture (“JV”) partner in Tanzania to cease JV activities at the Pinewood and Morogoro Joint Ventures with immediate effect and relinquish the licences back to the local authorities.

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Mbeya Coal to Power Project Update

15 February 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that all work for the Environmental and Social Impact Assessment (“ESIA”) has been completed and that the Company is now awaiting certification.

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Change of Share Registrar

27 January 2017

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, announces that, effective from  7 a.m. Monday 30th  January 2017, its new Share Registrars in the UK, Ireland and South Africa are as follows:

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Share Issue

21 December 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, has today elected to make a first drawdown under the terms of the forward payment facility provided by Sanderson Capital Partners Limited (“Sanderson”) (the “Facility”), the details of which were announced in the Company’s RNS earlier today.

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Kibo Mining Agrees Term Sheet with Sanderson Capital Partners

21 December 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce it has entered into a binding term sheet (the “Term Sheet”) with Sanderson Capital Partners Limited (“Sanderson”) for a new USD2,940,000 forward payment facility (the “Facility”).

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Issue of Kibo Shares to Geological Service Provider from Treasury Account

9th December 2016

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”).

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Kibo Signs Collaboration Agreement with GE Electric International Inc.

21 November 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that it has signed a Collaboration Agreement (the “Agreement”) with General Electric International Inc (“GE”), with respect to the development of the Mbeya Coal to Power Project (“MCPP” or “the Project”).

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Kibo Receives Final Commercial Bids for the Mbeya Coal to Power Project

01 November 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that the final commercial bids for the Mbeya Coal to Power Project (“MCPP”) EPC contract and OEM contract were received on 31 October 2016. The Company has also submitted its mining right application for the Mbeya Coal Mine.

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Kibo Extends Date to Finalize Agreement for Balance of Refund Payment due on MCPP Development Costs

23 September 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, has today agreed to extend the deadline on which SEPCO III and Kibo had intended to reach agreement with regard to the final amount still due for payment with regard to the MCPP development cost refund (see RNS dated 25 August 2016). In accordance with the revised agreement (“the Agreement”), SEPCO III was afforded the opportunity to conduct an independent audit of the development costs incurred on the MCPP to date. In spite of a diligent effort made so far to get this done in time, the time allowed for this work proved to be inadequate given that the costs in question cover a period spanning several financial years. A new deadline was set for 14 October 2016, when Kibo and Tractebel Engineering will be meeting with SEPCO III in Qingdao, China, to assess and review SEPCO III’s progress in preparing the EPC bid for the power component of the MCPP.

Louis Coetzee, CEO of Kibo Mining, said: “Kibo is very pleased with SEPCO III’s performance to date under the revised agreement announced on 25 August 2016, with all work streams related to the preparation of the EPC-bid currently on schedule or slightly ahead of schedule.

Both parties however underestimated the amount of work involved in conducting the independent audit referred to above. Kibo and SEPCO III subsequently agreed that a delay in finalizing this particular element of the Agreement was not going to affect either party’s commitment and willingness to continue in parallel with the preparation and finalization of the EPC-bid and it was therefore decided, by mutual agreement, to extend the date for final agreement on this matter.”

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Kibo Signs Heads of Agreement with Opera Investments

23 September 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that it has signed a Heads of Agreement (the “HoA”) with LSE Main Market listed Opera Investment PLC (“Opera”) (Kibo and Opera together the “parties”) for the sale of the entire share capital of its wholly owned UK subsidiary, Sloane Developments Ltd (the “Proposed Transaction”).

The HoA provides for the following to occur contemporaneously or immediately after the Transaction:

  • Subject to commercial, technical and legal due diligence, the consideration to acquire the Imweru and Lubando gold projects will be satisfied by the allotment and issue to Kibo on  completion  of  the Proposed Transaction of 61,000,000 ordinary shares of one pence each in the capital of Opera at a price of 6 pence per ordinary share immediately following completion of the Proposed Transaction (and completion of the fundraising by Opera referred to below) (Consideration Shares).
  • As part of the Proposed Transaction, Opera and Kibo have agreed that there will be a fundraising by way of the issue of new ordinary shares in Opera at a price of 6 pence per ordinary share (the Placing Shares). The Proposed Transaction will be subject to a minimum fundraising of £1,200,000 before expenses.
  • As part of the Proposed Transaction, Opera will delist from the Main Market of the London stock Exchange and the enlarged share capital of Opera following Completion will contemporaneously seek admission to the AIM Market of the London Stock Exchange (AIM).
  • On completion of the Proposed Transaction it is proposed that Opera will be renamed Katoro Gold Mining plc.
  • The Board of Directors following completion of the Proposed Transaction will initially  comprise  3 directors nominated by Kibo and 2 directors nominated by Opera.
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Kibo Signs Financial Advisory Mandate Letter with ABSA / Barclays

22 September 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that it has signed an advisory engagement letter (the “Mandate”) with Absa Bank Limited / Barclays Bank Limited (the “Advisor”) laying out the scope of work and terms under which it will act as new financial advisor to the Company on the Mbeya Coal to Power Project (“MCPP” or the “Project”).

The scope of work in the Mandate requires the Advisor to assist in delivering the Project to a successful Financial Close by completing amongst others, the following:

  • develop a financial model for the Project with the assistance of the Company and its technical advisors and partners;
  • assist the Company in the negotiation, review and finalization of all agreements pertaining to the MCPP including, inter alia, the power purchase agreement, EPC-agreement, O&M agreement and grid connection agreement; and
  • develop a comprehensive and optimum funding structure for the project in cooperation with the Company and its advisors, and to implement it by soliciting and negotiating with potential lenders and/or equity providers sufficient funding on optimal terms to bring the project to successful Financial Close.
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Kibo Signs Memorandum of Understanding with GE International Inc.

16 September 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral
exploration and development Company is pleased to announce that it has signed a Memorandum of
Understanding (“MOU”) with General Electric International Inc (“GE”), with respect to the
development of the Mbeya Coal to Power Project (“MCPP” or “the Project”). The MOU provides for
GE and its affiliate companies (“GE Group”) to supply equipment, technology and services to the
MCPP power plant, in addition to exploring opportunities where it can assist Kibo in bringing the
Project to successful financial close. Kibo and GE are in discussions to set out in detail the terms and
conditions of their collaboration into a binding agreement.

Louis Coetzee, CEO of Kibo Mining, said: “We are extremely pleased that we have established this
relationship with GE, one of the largest and technologically advanced companies in the World. We
are looking forward to working with GE and benefitting from its expertise and reputation in the
power sector.”

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Transfer of Kibo Shares to Sanderson from Company’s Treasury Account

8th September 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company has today issued 2,712,477 Ordinary Shares (the “Conversion Shares”) in the capital of the Company to Sanderson Capital Partners Limited (“Sanderson”) from a Company held forfeited share treasury account (“Treasury Account”).

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Kibo Announces Re-Negotiated Terms for Settling Sanderson Loan Facility

1 September 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that it has re-negotiated terms for the payback of the loan facility (the “Facility”) of GBP1,500,000 provided to the Company by Sanderson Capital Partners Limited (“Sanderson”), the details of which were announced in the Company’s RNS of 3 March 2016. Under the existing terms of the Facility, Kibo was required to pay back the loan in either cash or ordinary shares in Kibo, by 31 August 2016.

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Kibo Signs New Agreement with SEPCO III

25 August 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, is pleased to announce that it has signed a new Agreement (the “Agreement”) with major international China based EPC contractor, SEPCO III.

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Kibo Signs Letter of Engagement with global law firm Norton Rose Fulbright

17 August 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company is pleased to announce that it has signed an Engagement Letter (the “Letter”) with global law firm Norton Rose Fulbright to provide it with legal services in regard to the development of its Mbeya Coal to Power Project in Tanzania.

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Share Issue

10 August 2016

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 €0.015 par value each in the capital of the Company to Sanderson. The Shares will be issued as a drawdown fee upon receipt of £300,000 from Sanderson, representing the fifth drawdown on the Facility of up to £1,500,000 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.

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MCPP and Imweru Gold Project Interim Update

03 August 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company provides an interim update on progress at the Company’s Mbeya Coal to Power Project (“MCPP”) and the Imweru gold project.

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Kibo Reaches Net Smelter Royalty Agreement with Acacia at Imweru and Lubando

22 July 2016

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce it has reached an agreement (“the Agreement”) with Acacia Mining plc, (“Acacia”) for the conversion of Acacia’s residual equity interests in the Imweru and Lubando Projects to a 2% Net Smelter Royalty (“NSR”). The Agreement was signed between Reef Miners Limited, Kibo’s wholly owned Tanzanian subsidiary which holds the Imweru and Lubando project licences, and ABG Exploration Limited, Acacia’s Tanzanian subsidiary which holds the equity interests in the licences.

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Results of Annual General Meeting

21 July 2016

Shareholders are advised that the Annual General Meeting of Kibo Mining plc (“Kibo”) held today was attended in person and by proxy by shareholders holding approximately 6.6% of the shares in Kibo (354,632,316 issued and outstanding).

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AIM Share Price
(Ticker: KIBO)
3.28p Change -0.13p
at close on 25 Sep 2018

JSE Share Price
(Ticker: KBO)
65.00c Change +0.00c
at close on 21 Sep 2018

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