29 April 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 review of the Mbeya Coal to Power Project’s (“MCPP”) Power Definitive Feasibility Study (“PDFS”) has been completed. The final and official PDFS report will be delivered to the Company’s CEO on Monday 2 May 2016, during a scheduled project meeting with Tractebel Engineering.
- Kibo has also today issued 180,778 new Ordinary Kibo shares of €0.015 par value each in the capital of the Company at 4.88p per share (“Settlement Shares”) in settlement of recent invoices from service providers for geological and investor relations services to the Company. These Settlement Shares are in respect of invoices totalling £8,822. 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 3rd May 2016 (“Admission”). On completion of Admission the Company will have 351,605,538 shares in issue.
Louis Coetzee, CEO of the Company, commented today: “We are extremely pleased to have completed the PDFS on schedule and within budget. The PDFS constitutes the most important component of the MCPP and is the foundation for the MCPP’s entire business case. This milestone in the development of the MCPP is a critical achievement in advance of the financial close.
We look forward to updating the market on the PDFS results upon receipt of the official PDFS report next week.”
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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-PDFS_7th-Update-and-Share-Issue_V3-0_2904161.pdf” btn_target=”_blank”]Mbeya Coal to Power Project: Power Definitive Feasibility Study – Review Completed and Share Issue[/ott_teaser]