{"id":4239,"date":"2013-04-26T11:09:26","date_gmt":"2013-04-26T11:09:26","guid":{"rendered":"https:\/\/kibo.energy\/?p=4239"},"modified":"2014-06-18T20:07:07","modified_gmt":"2014-06-18T20:07:07","slug":"kibo-mining-plc-issue-of-shares-for-cash","status":"publish","type":"post","link":"https:\/\/kibo.energy\/index.php\/kibo-mining-plc-issue-of-shares-for-cash\/","title":{"rendered":"Kibo Mining plc – Issue of shares for Cash"},"content":{"rendered":"

Kibo\u00a0 Mining\u00a0 plc\u00a0 (\u201cKibo\u201d\u00a0 or\u00a0 the\u00a0 \u201cCompany\u201d)\u00a0 announces that\u00a0 pursuant\u00a0 to\u00a0 the\u00a0 previously announced standby equity distribution agreement (\u201cSEDA\u201d) dated 14 August 2012 between the\u00a0 Company\u00a0 and\u00a0 YA\u00a0 Global\u00a0 Master\u00a0 SPV\u00a0 Ltd\u00a0 (\u201cYA\u00a0 Global\u201d)\u00a0 the\u00a0 Company\u00a0 has\u00a0 issued 1,067,174 ordinary shares of \u20ac0.015 each in the capital of the Company (the \u201cShares\u201d) at an issue price of 5.073p to YA Global. These Shares are being issued under the terms of a loan and special advance under the SEDA established by aLetter of Agreement dated 2nd April 2013. The Shares have been issued as payment of \u00a354,137.75 to YA Global pursuant to an initial\u00a0 drawdown\u00a0 of\u00a0 \u00a350,000\u00a0 under\u00a0 the\u00a0 SEDA\u00a0 and\u00a0 payment\u00a0 of\u00a0 \u00a34,137.75\u00a0 being\u00a0 the outstanding\u00a0 balance\u00a0 of\u00a0 the\u00a0 implementation\u00a0 fee\u00a0 due\u00a0 under\u00a0 the\u00a0 SEDA.\u00a0 The\u00a0 Shares\u00a0 will\u00a0 rank pari passu with the Company\u2019s existing issued Ordinary Shares.<\/p>\n

Application will be made for the Shares to be admitted to trading on both the AIM and JSE AltX markets with trading in the new Shares expected to commence on AIM on or about 2nd May 2013,<\/p>\n

Following\u00a0 the\u00a0 issue\u00a0 of\u00a0 the\u00a0 Shares\u00a0 the\u00a0 Company\u2019s\u00a0 total\u00a0 issued\u00a0 share\u00a0 capital\u00a0 will\u00a0 be 106,660,143\u00a0 Ordinary\u00a0 Shares\u00a0 of\u00a0 \u20ac0.015\u00a0 each.\u00a0 In\u00a0 accordance\u00a0 with\u00a0 the\u00a0 Financial\u00a0 Services Authority\u00a0 Disclosure\u00a0 and\u00a0 Transparency\u00a0 Rules,\u00a0 the\u00a0 Company\u00a0 has\u00a0 106,660,143\u00a0 Ordinary Shares of \u20ac0.015 each in issue, each share carryingthe right to one vote. The Company does not hold any Ordinary Shares in Treasury.<\/p>\n

The\u00a0 above\u00a0 figure\u00a0 of\u00a0 106,660,143\u00a0 Ordinary\u00a0 Shares\u00a0 may be\u00a0 used\u00a0 by\u00a0 Shareholders\u00a0 in\u00a0 the Company as the denominator for the\u00a0 calculations by\u00a0 which they\u00a0 will determine if they are required\u00a0 to\u00a0 notify\u00a0 their\u00a0 interest\u00a0 in,\u00a0 or\u00a0 a\u00a0 change\u00a0 to\u00a0 their\u00a0 interest\u00a0 in,\u00a0 the\u00a0 share\u00a0 capital\u00a0 of\u00a0 the Company under the Financial Service Authority’s Disclosure and Transparency Rules.<\/p>\n

Louis Coetzee, Chief Executive Officer of the company commented:<\/p>\n

\u201cKibo is very pleased with the company\u2019s current cash position and the initial draw-down under the existing SEDA arrangement,\u00a0 completed\u00a0 in\u00a0 early\u00a0 April\u00a0 2013,\u00a0 allowed the\u00a0 company\u00a0 to\u00a0 maintain\u00a0 a\u00a0 stable interim cash position in the build up towards the successful placing announced on 24 April 2013\u201d<\/em><\/p>\n

Contacts:<\/h5>\n\n\n\n\n\n\n\n\n
Louis Coetzee<\/td>\n+27 (0)83 2606126<\/td>\nKibo Mining plc<\/td>\nChief Executive Officer<\/td>\n<\/tr>\n
Andreas Lianos<\/td>\n+27 (0)83 4408365<\/td>\nRiver Group<\/td>\nCorporate Adviser and Designated Adviser on JSE<\/td>\n<\/tr>\n
Matthew Johnson<\/td>\n+44 (0) 207 9768800<\/td>\nNorthland Capital Partners Limited<\/td>\nJoint Broker<\/td>\n<\/tr>\n
Jon Belliss<\/td>\n+44 (0) 20 3216 2630<\/td>\nXCAP Securities plc<\/td>\nJoint Broker<\/td>\n<\/tr>\n
Stuart Laing<\/td>\n+61 8 94802500<\/td>\nRFC Corporate Finance Limited<\/td>\nNominated Adviser on AIM<\/td>\n<\/tr>\n
Matt Beale<\/td>\n+44 (0)7966 389 196<\/td>\nFortbridge<\/td>\nPublic Relations<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

General Background & Strategy<\/h5>\n

Kibo\u00a0 is\u00a0 a\u00a0 public\u00a0 company\u00a0 registered\u00a0 in\u00a0 Ireland\u00a0 (company\u00a0 number\u00a0 451931).\u00a0 Its\u00a0 registered office\u00a0 is\u00a0 Kibo\u00a0 Mining\u00a0 plc,\u00a0 Suite\u00a0 3,\u00a0 One\u00a0 Earlsfort\u00a0 Centre,\u00a0 Lower\u00a0 Hatch\u00a0 Street,\u00a0 Dublin\u00a0 2, Ireland.\u00a0 Kibo\u00a0 was\u00a0 established\u00a0 in\u00a0 early\u00a0 2008\u00a0 to\u00a0 explore\u00a0 and\u00a0 develop\u00a0 mineral\u00a0 deposits\u00a0 in Tanzania, East Africa and was admitted to AIM on 27April 2010 and AltX in South Africa on 30 May 2011. The Company suspended itself from AIM during the period 11 May to 14 August 2012 to facilitate two\u00a0 corporate\u00a0 acquisitions that significantly increased its mineral assets in Tanzania. It was re-admitted to AIM on 15August 2012 and shareholder approval for the acquisitions was obtained the 6th September 2012 at an EGM.<\/p>\n

The\u00a0 Board\u00a0 of\u00a0 Kibo\u00a0 is\u00a0 composed\u00a0 of\u00a0 professionals\u00a0 whose\u00a0 experience\u00a0 include\u00a0 mineral exploration,\u00a0 mine\u00a0 development,\u00a0 mining\u00a0 finance,\u00a0 tax, law,\u00a0 mergers\u00a0 and\u00a0 acquisitions,\u00a0 and financial\u00a0 control\u00a0 of\u00a0 public\u00a0 companies.\u00a0 It\u00a0 is\u00a0 supported\u00a0 by\u00a0 a\u00a0 competent\u00a0 and\u00a0 motivated Tanzanian staff that operates from Kibo’s operations office in Dar es Salaam.<\/p>\n

The mineral assets of the Company now comprise five projects in Tanzania – Haneti (nickel, PGE and gold), Morogoro (Gold), Lake Victoria (Gold), Rukwa (Coal) and Pinewood (Coal &\u00a0 Uranium)\u00a0 which\u00a0 give\u00a0 Kibo\u00a0 access\u00a0 to\u00a0 38,000\u00a0 km2\u00a0 of\u00a0 early\u00a0 stage\u00a0 exploration\u00a0 licences\u00a0 in Tanzania’s\u00a0 premier\u00a0 gold\u00a0 mining\u00a0 region,\u00a0 the\u00a0 Lake\u00a0 Victoria\u00a0 Goldfield,\u00a0 within\u00a0 the\u00a0 emerging gold\u00a0 exploration\u00a0 regions\u00a0 in\u00a0 eastern\u00a0 Tanzania\u00a0 and\u00a0 uranium\u00a0 &\u00a0 coal\u00a0 regions\u00a0 in\u00a0 south-western Tanzania.<\/p>\n

The\u00a0 acquisitions\u00a0 of\u00a0 Mzuri\u00a0 Energy\u00a0 and\u00a0 Mayborn\u00a0 have\u00a0 added\u00a0 the\u00a0 advanced\u00a0 Rukwa\u00a0 thermal coal\u00a0 project\u00a0 and\u00a0 the\u00a0 Pinewood\u00a0 uranium\u00a0 exploration\u00a0 project\u00a0 to\u00a0 Kibo\u2019s\u00a0 portfolio\u00a0 of\u00a0 mineral projects in Tanzania.<\/p>\n

The\u00a0 Rukwa\u00a0 and\u00a0 Pinewood\u00a0 projects\u00a0 will\u00a0 provide\u00a0 Kibo\u00a0 shareholders\u00a0 with\u00a0 exposure\u00a0 to\u00a0 an attractive\u00a0 portfolio\u00a0 of\u00a0 strategic\u00a0 energy\u00a0 assets\u00a0 in\u00a0 Tanzania.\u00a0 Importantly,\u00a0 they\u00a0 are\u00a0 situated within\u00a0 and\u00a0 close\u00a0 to\u00a0 the\u00a0 Mtwara\u00a0 Corridor,\u00a0 an\u00a0 area\u00a0 where\u00a0 the\u00a0 Tanzanian\u00a0 Government\u00a0 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.<\/p>\n

The Rukwa project is substantially more advanced than Kibo\u2019s existing exploration projects, with a significant Mineral Resource of thermal coal already defined that provides the basis for Kibo\u2019s plans to develop a 250-300 MW mouth-of-mine thermal coal plant (the \u201cRukwa Coal\u00a0 to\u00a0 Power\u201d\u00a0 Project).\u00a0 This\u00a0 provides\u00a0 nearer\u00a0 term\u00a0 development\u00a0 and\u00a0 commercialisation potential,\u00a0 complementing\u00a0 the\u00a0 earlier\u00a0 stage\u00a0 existing projects\u00a0 held\u00a0 by\u00a0 Kibo.\u00a0 This\u00a0 is\u00a0 further supported\u00a0 by\u00a0 the\u00a0 recent\u00a0 announcements\u00a0 that\u00a0 the\u00a0 Rukwa\u00a0 Coal\u00a0 to\u00a0 Power\u00a0 project\u00a0 will\u00a0 be included as a strategic component of the Tanzanian\u00a0 Government\u2019s National Energy Strategy and\u00a0 the\u00a0 participation\u00a0 of\u00a0 Korean\u00a0 Government\u00a0 owned\u00a0 power\u00a0 company,\u00a0 Korea\u00a0 East-West Power,\u00a0 as\u00a0 a\u00a0 strategic\u00a0 partner\u00a0 in\u00a0 the\u00a0 development.\u00a0 In\u00a0 addition,\u00a0 the\u00a0 Pinewood\u00a0 project encompasses a significant ground holding of prospective Karoo sequence sedimentary rocks. These sediments are attracting considerable interest from international companies exploring for uranium and coal mineralisation following some notable discoveries in recent years.<\/p>\n

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\u00a0 in\u00a0 Tanzania\u00a0 to\u00a0 acquire\u00a0 attractive\u00a0 exploration\u00a0 and\u00a0 development\u00a0 assets\u00a0 on competitive terms that can be moved swiftly up the value curve by using the company\u2019s own skills\u00a0 base\u00a0 whilst\u00a0 also\u00a0 seeking\u00a0 to\u00a0 benefit\u00a0 from\u00a0 strategic\u00a0 collaborative\u00a0 relationships\u00a0 with industry leaders who have special skills and competencies within their chosen fields of focus. Kibo\u00a0 will\u00a0 undertake\u00a0 continual\u00a0 risk\u00a0 assessment\u00a0 of\u00a0 its\u00a0 projects\u00a0 and\u00a0 take\u00a0 whatever\u00a0 actions\u00a0 it believes are necessary to ensure that these risks are mitigated.<\/p>\n

Johannesburg <\/strong>
\n26<\/strong> April 2013 <\/strong>
\nCorporate and Designated Adviser <\/strong>
\nRiver group<\/strong><\/p>\n

 <\/p>\n

[ott_teaser btn_text=”Download” btn_icon=”icon-right-big” btn_url=”https:\/\/kibo.energy\/wp-content\/uploads\/Kibo-SENS-Yorkville-Share-Issue260413.pdf” btn_target=”_blank”]Kibo Mining plc – Issue of shares for Cash[\/ott_teaser]<\/p>\n","protected":false},"excerpt":{"rendered":"

Kibo\u00a0 Mining\u00a0 plc\u00a0 (\u201cKibo\u201d\u00a0 or\u00a0 the\u00a0 \u201cCompany\u201d)\u00a0 announces that\u00a0 pursuant\u00a0 to\u00a0 the\u00a0 previously announced standby equity distribution agreement (\u201cSEDA\u201d) dated 14 August 2012 between the\u00a0 Company\u00a0 and\u00a0 YA\u00a0 Global\u00a0 Master\u00a0 SPV\u00a0 Ltd\u00a0 (\u201cYA\u00a0 Global\u201d)\u00a0 the\u00a0 Company\u00a0 has\u00a0 issued 1,067,174 ordinary shares of \u20ac0.015 each in the capital of the Company (the \u201cShares\u201d) at an issue<\/p>\n","protected":false},"author":31,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[47],"tags":[],"class_list":["post-4239","post","type-post","status-publish","format-standard","hentry","category-news"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/4239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/comments?post=4239"}],"version-history":[{"count":4,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/4239\/revisions"}],"predecessor-version":[{"id":4246,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/4239\/revisions\/4246"}],"wp:attachment":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/media?parent=4239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/categories?post=4239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/tags?post=4239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}