{"id":4346,"date":"2013-10-08T20:46:49","date_gmt":"2013-10-08T20:46:49","guid":{"rendered":"https:\/\/kibo.energy\/?p=4346"},"modified":"2014-06-18T20:00:13","modified_gmt":"2014-06-18T20:00:13","slug":"management-team-and-financial-advisor-appointed-to-rukwa-coal-to-power-project","status":"publish","type":"post","link":"https:\/\/kibo.energy\/index.php\/management-team-and-financial-advisor-appointed-to-rukwa-coal-to-power-project\/","title":{"rendered":"Management Team and Financial Advisor Appointed to Rukwa Coal to Power Project"},"content":{"rendered":"<ul>\n<li><em>Kibo appoints experienced management team to manage and\u00a0 execute Rukwa Coal to Power project feasibility studies for both the Rukwa Coal Mine and the Rukwa Power Station<\/em><\/li>\n<li><em>Standard Bank engaged as Financial Advisor on the Rukwa Coal to Power Project<\/em><\/li>\n<\/ul>\n<p><!--more--><\/p>\n<h5>Introduction<\/h5>\n<p>Kibo\u00a0 Mining\u00a0 plc\u00a0 (\u201cKibo\u201d\u00a0 or\u00a0 the\u00a0 \u201cCompany\u201d)\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,\u00a0 is\u00a0 pleased\u00a0 to\u00a0 announce\u00a0 key\u00a0 internal\u00a0 and\u00a0 external\u00a0 appointments\u00a0 to\u00a0 implement\u00a0 and manage the three stage Rukwa Development Program (see details below), recently approved by\u00a0 the\u00a0 Kibo\u00a0 board\u00a0 of\u00a0 Directors.\u00a0 The\u00a0 Rukwa\u00a0 Development\u00a0 Program\u00a0 (RDP)\u00a0 is\u00a0 the\u00a0 product\u00a0 of extensive\u00a0 consultation\u00a0 and\u00a0 discussion\u00a0 with\u00a0 the\u00a0 Tanzanian\u00a0 Government,\u00a0 East\u00a0 West\u00a0 Power Company\u00a0 (\u201cEWP\u201d)\u00a0 of\u00a0 Korea\u00a0 and\u00a0 Standard\u00a0 Bank\u00a0 Group\u00a0 (\u201cStandard\u00a0 Bank\u201d)\u00a0 and\u00a0 will\u00a0 be implemented\u00a0 to\u00a0 accelerate\u00a0 development\u00a0 of\u00a0 its\u00a0 flagship\u00a0 Rukwa\u00a0 Coal\u00a0 to\u00a0 Power\u00a0 project (\u201cRCPP\u201d).<\/p>\n<h5>Management Team<\/h5>\n<p>The Rukwa Executive Management Team (\u201cREMT\u201d) has been formed comprising Kibo CEO, Louis\u00a0 Coetzee\u00a0 and\u00a0 Kibo\u00a0 COO,\u00a0 Louis\u00a0 Scheepers,\u00a0 along\u00a0 with\u00a0 external\u00a0 appointees,\u00a0 Roy\u00a0 Adair and Casper Van Wyk (See abbreviated CV\u2019s below). Mr. Louis Coetzee will chair the REMT whilst\u00a0 Mr.\u00a0 Roy\u00a0 Adair\u00a0 will\u00a0 assume\u00a0 the\u00a0 position\u00a0 of\u00a0 Program\u00a0 Executive\u00a0 in\u00a0 the\u00a0 REMT,\u00a0 with executive responsibility for the implementation and execution of the RDP.<\/p>\n<p>All appointees bring a mix of skills and experience across the fields of executive leadership, project management, corporate finance and global energy development required to advance the project as it now enters the feasibility study stage. Mr Adair has successfully served as CEO of a number of energy companies in the last 20 years including Hydro Tasmania (Pty) Ltd, Senoko Power Limited and Yallourn energy. In his most recent role as CEO of Hydro Tasmania (Pty) Ltd, he\u00a0 was responsible for the operation of a $5 billion business in the Tasmanian electricity market. Mr. Van Wyk brings vast experience in corporate finance and corporate structuring to the REMT.<\/p>\n<h5>Financial Adviser Appointment<\/h5>\n<p>In\u00a0 addition\u00a0 to\u00a0 the\u00a0 appointment\u00a0 of\u00a0 the\u00a0 REMT,\u00a0 Kibo\u00a0 has\u00a0 entered\u00a0 a\u00a0 12\u00a0 month,\u00a0 fixed\u00a0 term Financial\u00a0 Advisory\u00a0 mandate\u00a0 with\u00a0 Standard\u00a0 Bank,\u00a0 whereby\u00a0 Standard\u00a0 Bank\u00a0 will\u00a0 assist\u00a0 the REMT with:<\/p>\n<ul>\n<li>The development and delivery of a financial model for the RCPP; and<\/li>\n<li>The strategic planning and development of a robust project development and financing strategy for the RCPP.<\/li>\n<\/ul>\n<p>The engagement letter also grants Standard Bank an unconditional and irrevocable right of first refusal to upon completion of the 12 month fixed term mandate:<\/p>\n<ul>\n<li>Act as Mandated Lead Arranger for any debt financing required by the RDPP and\/or<\/li>\n<li>Act as retained Lead Financial Advisor to the RCPP<\/li>\n<\/ul>\n<p>Louis Coetzee CEO of Kibo commented today:<br \/>\n<em>\u201cKibo is very pleased with these appointments. The\u00a0 experience\u00a0 and\u00a0 successful\u00a0 track\u00a0 records\u00a0 of\u00a0 my\u00a0 colleagues\u00a0 on\u00a0 the\u00a0 REMC\u00a0 should\u00a0 greatly benefit our planned development schedule for the RCPP. Equally pleasing is having access to Africa\u2019s largest indigenous bank and their energy advisory franchise which we trust will be of great value to the Project over time.<\/em><\/p>\n<p><em>With the latest appointments, Kibo have now successfully completed what could be viewed as the most important development phase of the RCPP. This phase, referred to as the grounding phase,\u00a0 required\u00a0 that\u00a0 a\u00a0 solid\u00a0 foundation\u00a0 be\u00a0 created\u00a0 to\u00a0 guarantee\u00a0 the\u00a0 successful\u00a0 development and completion of the RCPP and this was duly realized with the following four cornerstones namely,\u00a0 appropriate\u00a0 coal\u00a0 resource,\u00a0 government\u00a0 support,\u00a0 energy\u00a0 generation\u00a0 partner\u00a0(EWP) and financial advisory partner (Standard Bank), now firmly in place.\u201d<\/em><\/p>\n<h5>Download full report:<\/h5>\n<p>[ott_teaser btn_text=&#8221;Download&#8221; btn_icon=&#8221;icon-right-big&#8221; btn_url=&#8221;https:\/\/kibo.energy\/wp-content\/uploads\/Management-Team-Financial-Advisor-Appointed-Kibo_SENS_071013x.pdf&#8221; btn_target=&#8221;_blank&#8221;]Management Team and Financial Advisor Appointed to Rukwa Coal to Power Project[\/ott_teaser]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kibo appoints experienced management team to manage and\u00a0 execute Rukwa Coal to Power project feasibility studies for both the Rukwa Coal Mine and the Rukwa Power Station Standard Bank engaged as Financial Advisor on the Rukwa Coal to Power Project<\/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-4346","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\/4346","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=4346"}],"version-history":[{"count":4,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/4346\/revisions"}],"predecessor-version":[{"id":4351,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/4346\/revisions\/4351"}],"wp:attachment":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/media?parent=4346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/categories?post=4346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/tags?post=4346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}