Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the diversified mineral exploration and development company, developing an advanced stage coal resource and coal fired power plant in Tanzania, alongside fully owned gold, nickel, and uranium projects, is pleased to provide the comprehensive Shareholder Update below.

Louis Coetzee, C.E.O. of Kibo Mining commented:

“We are pleased to provide shareholders with an update on Kibo’s progress during 2013 and planned objectives for 2014, specifically focused on advancing the Company’s current key coal and gold projects as well as opportunistically considering new low entry price project opportunities in Tanzania. Kibo had a successful 2013, and we achieved the following key milestones:

  • Complete restructuring of board and executive management team
  • The Rukwa coal fired power project received Tanzanian government support, included in the Tanzanian Strategic National Energy Plan and attracted serious interest from various international development partners
  • The company signed an MOU on Rukwa with EWP
  • 800,000oz of gold resource added with acquisition of Imweru and Lubando
  • The successful completion of three equity placements
  • Kibo now debt free and with enhanced financial flexibility following innovative settlement of all debts
  • Initiate the RCPP Project Development Stage
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[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”” btn_target=”_blank”]Kibo Mining plc – Shareholder Update Financial Year 2013/14[/ott_teaser]