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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kibo Energy Plc | LSE:KIBO | London | Ordinary Share | IE00B97C0C31 | ORD EUR0.0001 (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.012 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 1.04M | -9.78M | -0.0022 | -0.05 | 523.31k |
TIDMKIBO
RNS Number : 4773R
Kibo Mining Plc
04 November 2011
KIBO MINING PLC
Management Changes
Dated: 4 November 2011
Kibo Mining plc ("Kibo" or the "Company") (AIM, KIBO: JSE, KBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania announces changes in management to optimize its business over the coming months.
The Company has identified potential investment interest amongst the investment community in Tanzania. To take advantage of this opportunity, the Company is considering seeking a listing on the Dar es Salaam Stock Exchange. Furthermore, the Company's South African advisors are recommending raising Kibo's profile in South Africa, where the company is quoted on the Johannesburg Stock Exchange.
In parallel and as part of its ongoing exploration activities, the Company will be maximizing the returns from its large portfolio of exploration licenses in Tanzania. Kibo holds some 190 licenses totaling approximately 18,600 square kilometers under issue, application and offer located in the Lake Victoria, Morogoro and Dodoma areas with excellent exploration potential for gold and base metals. Whilst the Company will explore a number of these licenses on its own, it is aware that some areas might make a logical package for joint ventures or might be of strategic interest to neighbouring mineral rights holders.
Consequently the Directors of the Company have agreed that Noel O'Keeffe will concentrate on the development of these exploration assets of Kibo as Exploration Director and Louis Coetzee, currently a Non-executive Director of the Company, will be appointed as interim Chief Executive Officer for twelve months to lead the marketing initiative of the Company. The Company will then appoint a full time chief executive officer to take the Company on to the next stage of its development.
Noel O'Keeffe, a founder Director of Kibo, is an experienced professional exploration geologist with over 20 years experience in Tanzania, Australia, Canada and Ireland and has overseen the development of the Company to date. Louis Coetzee, appointed to the board on 19 July 2010, has over 25 years business development experience in Africa with 15 of these in Tanzania. Louis is currently a director and chief operating officer of the Mzuri Group, a substantial shareholder in Kibo. He is also Chairman of Australian listed East African Resources limited (ASX: AAF) which holds uranium exploration projects in Tanzania.
Commenting on these changes, Chairman Christian Schaffalitzky said:
"We are pleased that our Company has the requisite skills in-house to maximize our development progress over the coming months. Noel and Louis have worked hard to get the Company where it is today and both of them have a clear focus on adding shareholder value through the best use of our resources. This combined with our strategic approach, means we can look forward to making significant progress and reporting successful results to our Shareholders".
Enquiries:
Louis Coetzee +27 (0)83 Kibo Mining Chief Executive 2606126 plc Officer Noel O'Keeffe +353 (0)91 Kibo Mining Exploration 384562 plc Director John Simpson +44 (0)207 Daniel Stewart Nominated 7766550 & Company Adviser Plc Andreas Lianos +27 (0)83 River Group Designated 4408365 Advisor Nick Bealer +44 (0)207 Cornhill Capital Broker (Corporate 7109612 Ltd Broking) Andrew Frangos +44 (0)207 Cornhill Capital Broker (Corporate 7109610 Ltd Finance) Matt Beale +44 (0)7966 Fortbridge Public Relations 389 196 Consulting UK
Updates on the Company's activities are regularly posted on its website www.kibomining.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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