05 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 today received proof of payment for the amount of USD1, 800, 000.00 from SEPCO III.
This payment was received in settlement of the first fixed payment due under the new Agreement (the “Agreement”) with major international China based EPC contractor, SEPCO III, announced on 25 August 2016.
Louis Coetzee, CEO of Kibo Mining, said: “SEPCO III’s prompt and diligent performance with regard to the first payment due under the Agreement demonstrates great enthusiasm for and belief in the MCPP as well as in the Company. We believe that all the remaining conditions in the Agreement will be met with the same diligence and that the Kibo/SEPCO III relationship will play a pivotal role in the further development and ultimate delivery of the MCPP.”
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[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https://kibo.energy/wp-content/uploads/Final-RNS_MCPP-17th-Update-SEPCO-III_V3.0_050916.pdf” btn_target=”_blank”]Kibo Receives First Payment Under Newly Signed SEPCO III Agreement[/ott_teaser]