{"id":6342,"date":"2017-11-30T07:04:54","date_gmt":"2017-11-30T07:04:54","guid":{"rendered":"https:\/\/kibo.energy\/?p=6342"},"modified":"2017-11-30T07:04:54","modified_gmt":"2017-11-30T07:04:54","slug":"evolving-strategy-re-position-energy-company-acquisition-strategic-botswana-power-project","status":"publish","type":"post","link":"https:\/\/kibo.energy\/index.php\/evolving-strategy-re-position-energy-company-acquisition-strategic-botswana-power-project\/","title":{"rendered":"Evolving Strategy to Re-Position as an Energy Company With Acquisition of Strategic Botswana Power Project"},"content":{"rendered":"<h5>30 November 2017<\/h5>\n<p>Kibo Mining Plc (AIM:KIBO; AltX:KBO) is pleased to announce the agreed acquisition of an 85% interest in the Mabesekwa Coal Independent Power Project in Botswana (\u2018the Project\u2019 or \u2018Mabesekwa\u2019) in an all share transaction (the \u201cTransaction\u201d). This is a major part of Kibo\u2019s strategy focused on re-positioning itself as a strategic regional electricity supplier on the back of its flagship Mbeya Coal to Power Project (\u2018MCPP\u2019) in Tanzania.<\/p>\n<p><!--more--><\/p>\n<p>Overview<\/p>\n<ul>\n<li>85% interest in Mabesekwa to be acquired from Sechaba Natural Resources Limited (\u201cSechaba\u201d), a subsidiary of Shumba Energy Limited (BSE:SHUMBA) (\u201cShumba\u201d), for 153,710,030 new ordinary shares in Kibo (\u201cConsideration Shares\u201d) that shall rank pari passu with the existing ordinary shares in Kibo<\/li>\n<li>The Project will consist of a 300Mt subset of the current insitu 777Mt coal Mineral Resource (SAMREC) defined by Shumba at Mabesekwa (\u201cMCIPP Resource\u201d). The Resources that comprise the MCIPP Resource will be defined during the detailed due diligence process<\/li>\n<li>Kibo\u2019s intention is to build on the work completed to date investigating the construction of an integrated power project at Mabesekwa<\/li>\n<li>Notable synergies with Kibo\u2019s flagship Mbeya Coal to Power Project in Tanzania, providing considerable benefits including economies of scale in equipment, execution, project finance and strong existing MCPP strategic partnerships<\/li>\n<li>Project perfectly placed to address the chronic power shortages in Southern Africa<\/li>\n<li>Water and land use permits and environmental certification in place at the Project, previous studies include a Pre-Feasibility Study on the coal mine and a Scoping Study on the power plant<\/li>\n<li>Sechaba to retain a 15% interest in the Project and gain a seat on Kibo\u2019s Board of Directors<\/li>\n<li>Kibo to be given first right of refusal to participate on terms and conditions no more onerous than those available to Sechaba in any energy projects that Shumba may pursue over a six year period from transaction completion and Shumba to be granted a reciprocal first right of refusal on any coal export projects that Kibo may pursue over the same period<\/li>\n<li>Project backed by leading African and international institutional investors through Shumba\u2019s investor base<\/li>\n<li>Acquisition is part of Kibo\u2019s strategy to build a portfolio of near-term energy production assets in multiple geographies<\/li>\n<li>Kibo to rebrand to reflect the expanded strategy<\/li>\n<\/ul>\n<p>Should the Transaction complete and the Consideration Shares be issued Kibo will have 548,964,394 ordinary shares on issue and Sechaba would hold 153,710,030 ordinary shares in Kibo, which would represent 28.00% of the enlarged share capital of the Company as at Transaction completion, and thus be a Substantial Shareholder. This assumes no further ordinary shares in Kibo are issued prior to Transaction completion.<\/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\/Final-RNS_-Repositioning_V3.0_291117.pdf&#8221; btn_target=&#8221;_blank&#8221;]<strong>Evolving Strategy to Re-Position as an Energy Company With Acquisition of Strategic Botswana Power Project<\/strong>[\/ott_teaser]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>30 November 2017 Kibo Mining Plc (AIM:KIBO; AltX:KBO) is pleased to announce the agreed acquisition of an 85% interest in the Mabesekwa Coal Independent Power Project in Botswana (\u2018the Project\u2019 or \u2018Mabesekwa\u2019) in an all share transaction (the \u201cTransaction\u201d). This is a major part of Kibo\u2019s strategy focused on re-positioning itself as a strategic regional<\/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-6342","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\/6342","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=6342"}],"version-history":[{"count":1,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/6342\/revisions"}],"predecessor-version":[{"id":6343,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/posts\/6342\/revisions\/6343"}],"wp:attachment":[{"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/media?parent=6342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/categories?post=6342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kibo.energy\/index.php\/wp-json\/wp\/v2\/tags?post=6342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}