Change in UK Broking Arrangements

Change in UK Broking Arrangements

2014-06-18T20:03:13+00:00August 1st, 2013|

Kibo Mining Plc (the “Company”) wishes to advise that Northland Capital Partners Limited (“Northland”)  will  no  longer  act  as  joint  broker  to the  Company  effective  immediately. XCAP  Securities  plc  is now   the  Company’s  sole  corporate  broker  under  AIM  Rules.  The Company wishes to thank Northland for the assistance it has provided the Company over the last 14 months.

Contacts:
Louis Coetzee +27 (0)83 2606126 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 3216 2630 Hume Broker
Stuart Laing +61 8 94802500 RFC Ambrian Limited Nominated Adviser on AIM
Matt Beale +44 (0)7966 389 196 Fortbridge Investor Relations

 

General Background & Strategy

Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania, East Africa and was admitted to AIM in London on 27 April 2010 and AltX in Johannesburg on 30 May 2011. The Board of Kibo is composed of professionals whose experience include mineral exploration, mine development, mining finance, tax, law, mergers and acquisitions, and financial control of public companies. It is supported by a competent and motivated Tanzanian staff that operates from Kibo’s operations office in Dar es Salaam.

The mineral assets of the Company comprise five projects areas in Tanzania – Haneti (nickel, PGE and gold), Morogoro (Gold), Lake Victoria (Gold), Rukwa (Coal) and Pinewood (Coal & Uranium).

The Haneti project is the subject of a joint venture with Brazilian Votorantim Metais Participações Ltda, a member of Votorantim Group. The Rukwa and Pinewood projects are situated close to the Mtwara Corridor, an area where the Tanzanian Government has committed to significant infrastructure development and which has seen recent multi-million dollar investment in coal and coal-fired power stations and uranium exploration.

The Rukwa project is substantially more advanced than Kibo’s existing exploration projects, with  a  significant  Mineral  Resource  of  thermal  coal already  defined.  The  project  enjoys strong support expressed by the Tanzanian Government for the expedited development of a coal mine and mine-mouth coal-fired power plant and which is further enhanced by the now formal relationship between the Korean Government owned Korean East – West Power Co. Ltd.  (“EWP”)   and  Kibo.  In  this  relationship  the  parties  have  entered  into  a  formal  MOU which  states  the  parties’  respective  commitments  towards  the  joint  development  of  the Rukwa Coal to Power Project (“RCPP”), where EWP will be responsible for developing and operating the power generation side of the RCPP and Kibo will be responsible for developing and operating the mining side of the RCPP.

Kibo’s objective is to build shareholder value in a sustainable manner. This objective will be pursued primarily through active exploration of its own projects and by using the Company’s experience in Tanzania to acquire attractive exploration and development assets on competitive terms that can be moved swiftly up the value curve by using the Company’s own skills base whilst also seeking to benefit from strategic collaborative relationships with industry leaders who have special skills and competencies within their chosen fields of focus. Kibo will undertake continual risk assessment of its projects and take whatever actions it believes are necessary to ensure that these risks are mitigated.

Johannesburg
1 August 2013

River Group

Corporate and Designated Adviser
River Group

[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”http://kibo.energy/wp-content/uploads/Kibo-SENS-170713-MOU-Signed-with-Korea-East-West-Power.pdf” btn_target=”_blank”]MOU Signed with Korean East West Power[/ott_teaser]

AIM Share Price
(Ticker: KIBO)
0.40p Change +0.00p
at 08:00 AM on 13 Dec 2019

JSE Share Price
(Ticker: KBO)
8.00c Change +0.00c
at close on 12 Dec 2019

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