{"id":5853,"date":"2016-07-22T06:03:49","date_gmt":"2016-07-22T06:03:49","guid":{"rendered":"https:\/\/kibo.energy\/?p=5853"},"modified":"2016-07-22T06:03:49","modified_gmt":"2016-07-22T06:03:49","slug":"kibo-reaches-net-smelter-royalty-agreement-acacia-imweru-lubando","status":"publish","type":"post","link":"https:\/\/kibo.energy\/index.php\/kibo-reaches-net-smelter-royalty-agreement-acacia-imweru-lubando\/","title":{"rendered":"Kibo Reaches Net Smelter Royalty Agreement with Acacia at Imweru and Lubando"},"content":{"rendered":"<h5><strong>22 July 2016<\/strong><\/h5>\n<p style=\"text-align: justify;\">Kibo Mining plc (\u201cKibo\u201d or the \u201cCompany\u201d) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce it has reached an agreement (\u201cthe Agreement\u201d) with Acacia Mining plc, (\u201cAcacia\u201d) for the conversion of Acacia\u2019s residual equity interests in the Imweru and Lubando Projects to a 2% Net Smelter Royalty (\u201cNSR\u201d). The Agreement was signed between Reef Miners Limited, Kibo\u2019s wholly owned Tanzanian subsidiary which holds the Imweru and Lubando project licences, and ABG Exploration Limited, Acacia\u2019s Tanzanian subsidiary which holds the equity interests in the licences.<\/p>\n<p style=\"text-align: justify;\"><!--more--><\/p>\n<p style=\"text-align: justify;\">The Agreement gives Kibo 100% ownership in the equity of \u00a0the \u00a0Imweru \u00a0and \u00a0Lubando \u00a0Projects \u00a0and \u00a0represents another important component of the definitive agreement with Lake Victoria Gold LTD (\u201cLVG\u201d) to consolidate the companies\u2019 respective Imweru and Imwelo gold projects, as announced on 2nd \u00a0June.<\/p>\n<p style=\"text-align: justify;\">Louis Coetzee, CEO of Kibo Mining, said: \u201c<em>We are very pleased that we have been able to negotiate this agreement with Acacia promptly and on favorable terms. The agreement allows Kibo and Lake Victoria to maximize value for their respective shareholders from the planned mine development at Imweru \u00a0and \u00a0ensures \u00a0that \u00a0the \u00a0consolidated Imweru\/Imvelo project will be free of any contingent liabilities and unquantified obligations.<\/em><\/p>\n<p style=\"text-align: justify;\"><em>With this agreement in place, we expect to move promptly towards execution of the definitive agreement between Kibo and LVG.\u201d<\/em><\/p>\n<h5><strong>Download Full Report<\/strong><\/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\/Smelter-Royalty-Agreement.pdf&#8221; btn_target=&#8221;_blank&#8221;]Kibo Reaches Net Smelter Royalty Agreement with Acacia at Imweru and Lubando[\/ott_teaser]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>22 July 2016 Kibo Mining plc (\u201cKibo\u201d or the \u201cCompany\u201d) (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce it has reached an agreement (\u201cthe Agreement\u201d) with Acacia Mining plc, (\u201cAcacia\u201d) for the conversion of Acacia\u2019s residual equity interests in the Imweru and Lubando Projects to a 2%<\/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-5853","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\/5853","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=5853"}],"version-history":[{"count":1,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5853\/revisions"}],"predecessor-version":[{"id":5854,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/5853\/revisions\/5854"}],"wp:attachment":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/media?parent=5853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/categories?post=5853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/tags?post=5853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}