{"id":4325,"date":"2013-09-11T15:41:13","date_gmt":"2013-09-11T15:41:13","guid":{"rendered":"https:\/\/kibo.energy\/?p=4325"},"modified":"2014-06-18T20:01:42","modified_gmt":"2014-06-18T20:01:42","slug":"kibo-raises-further-500000-in-secondary-placement","status":"publish","type":"post","link":"https:\/\/kibo.energy\/index.php\/kibo-raises-further-500000-in-secondary-placement\/","title":{"rendered":"Kibo Raises Further \u00a3500,000 in Secondary Placement"},"content":{"rendered":"

Kibo\u00a0 Mining\u00a0 plc\u00a0 (“Kibo”\u00a0 or\u00a0 the\u00a0 “Company”)\u00a0 (AIM:\u00a0 KIBO;\u00a0 AltX:\u00a0 KBO),\u00a0 the\u00a0 mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce that following further\u00a0 significant institutional demand for the\u00a0 Company\u2019s shares it has raised an additional GBP500,000, before expenses, through the issue of\u00a0 10,000,000\u00a0 new\u00a0 ordinary\u00a0 shares\u00a0 of\u00a0 Eur0.015\u00a0 (\u201cOrdinary\u00a0 Shares\u201d)\u00a0 at\u00a0 5p\u00a0 per\u00a0 share\u00a0 (the \u201cPlacing Shares\u201d) via its UK broker, XCAP Securities plc.<\/p>\n

The\u00a0 additional\u00a0 funds\u00a0 raised\u00a0 will\u00a0 be\u00a0 used\u00a0 to\u00a0 further\u00a0 supplement\u00a0 the\u00a0 Company’s\u00a0 exploration programmes in Tanzania and for general working capital purposes.<\/p>\n

Application will be made for the Placing Shares to be admitted to trading on AIM and the JSE AltX markets. Trading in the Placing Shares is expected to commence on AIM and the JSE on or\u00a0 around\u00a0 the\u00a0 18\u00a0 September\u00a0 2013\u00a0 (“Admission”).\u00a0 On\u00a0 Admission,\u00a0 the\u00a0 Company\u00a0 will\u00a0 have 138,760,143 Ordinary Shares in issue.<\/p>\n

Louis Coetzee, CEO of the Company, commented:<\/p>\n

\u201cWe appreciate investors\u2019\u00a0 support for this fundraising and the recent placing, the combined funds\u00a0 have now placed us in the position to recommence\u00a0 and\u00a0 aggressively\u00a0 pursue\u00a0 ground\u00a0 operations\u00a0 in\u00a0 our\u00a0 Lake\u00a0 Victoria\u00a0 Goldfields operations,\u00a0 including\u00a0 the\u00a0 recently\u00a0 acquired\u00a0 Imweru\u00a0 and\u00a0 Lubando\u00a0 licenses,\u00a0 which\u00a0 currently hold\u00a0 a\u00a0 JORC\u00a0 compliant\u00a0 Total\u00a0 Mineral\u00a0 Resource\u00a0 of\u00a0 798,000\u00a0 ounces\u00a0 of\u00a0 gold\u00a0 (See\u00a0 Resource Table in attached file). <\/em><\/p>\n

In addition, all exploration costs relating to the Company’s Haneti Nickel PGMs and Gold project are being covered by Votorantim under our Joint Venture Agreement. As announced on 9th September, our work programme at Haneti is on track and generating very valuable <\/em>
\nand encouraging data.<\/em><\/p>\n

The Company is also in very advanced discussions with our Korean partners EWP, on the further development of the Rukwa Coal to Power Project (\u201cRCPP\u201d) and we hope to update the market shortly in this regard. Latest developments have shown a keen interest for participation in the RCPP from potential funding institutions, as well as growing support from key stakeholders.<\/em><\/p>\n

We are now well positioned and focused to progress all elements of the Kibo business.\u201d<\/em><\/p>\n

 <\/p>\n

Download full report:<\/h5>\n

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Kibo\u00a0 Mining\u00a0 plc\u00a0 (“Kibo”\u00a0 or\u00a0 the\u00a0 “Company”)\u00a0 (AIM:\u00a0 KIBO;\u00a0 AltX:\u00a0 KBO),\u00a0 the\u00a0 mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce that following further\u00a0 significant institutional demand for the\u00a0 Company\u2019s shares it has raised an additional GBP500,000, before expenses, through the issue of\u00a0 10,000,000\u00a0 new\u00a0<\/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-4325","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\/4325","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=4325"}],"version-history":[{"count":4,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/4325\/revisions"}],"predecessor-version":[{"id":4330,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/4325\/revisions\/4330"}],"wp:attachment":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/media?parent=4325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/categories?post=4325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/tags?post=4325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}