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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% | 0.0375 | 0.035 | 0.04 | 0.0425 | 0.0375 | 0.0425 | 3,556,771 | 12:17:48 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 1.04M | -9.78M | -0.0026 | -0.15 | 1.51M |
TIDMKIBO
RNS Number : 5139S
Kibo Mining Plc
21 December 2016
Kibo Mining Plc (Incorporated in Ireland) (Registration Number: 451931)
(External registration number: 2011/007371/10) Share code on the JSE Limited: KBO
Share code on the AIM: KIBO ISIN:IE00B97C0C31
("Kibo" or "the Company")
21 December 2016
Share Issue
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company, has today elected to make a first drawdown under the terms of the forward payment facility provided by Sanderson Capital Partners Limited ("Sanderson") (the "Facility"), the details of which were announced in the Company's RNS earlier today.
In accordance with the terms of the Facility, the Company has today allotted 8,507,160 Ordinary Shares in Kibo to Sanderson (the "Facility Shares") following receipt of the first payment of USD 310,000. The Facility Shares were issued at a price of 6.97p, being Kibo's 30 day VWAP to 20 December 2016.
In addition, Kibo has also allotted 1,024,993 Ordinary Shares in Kibo to its broker, Beaufort Securities Limited, to the value of GBP 71,442 (the "Advisory Fee Shares"). The Advisory Fee shares were also issued at Kibo's 30 day VWAP price of 6.97p and have been issued in respect of advisory services provided by Beaufort in relation to arranging the Facility.
Together the Discount Shares and the Advisory Shares (together the "Share Issue") amount to a total of 9,532,153 shares.
The Share Issue has been settled from the remaining shares in the Company's treasury account of 1,159,302 ("Treasury Shares") and the issue of 8,372,851 new Kibo shares ("New Shares").
The Treasury Shares have already been admitted to trading on AIM so no further application for their admission to AIM is now required. An application for the New Shares to be admitted to trading on AIM ("AIM Admission") and the JSE ("JSE Admission") is required and pending admission to AIM and the JSE, the New Shares are expected to commence trading on or about the 29(th) December 2016.
On completion of AIM and JSE Admission the Company will have 363,976,596 shares in issue.
Contacts
Louis Coetzee +27 (0) 83 2606126 Kibo Mining Chief Executive plc Officer --------------------- -------------------- ------------------- ------------------------- Corporate Adviser Andreas Lianos +27 (0) 83 4408365 River Group and Designated Adviser on JSE --------------------- -------------------- ------------------- ------------------------- Beaufort Jon Belliss +44 (0) 207 Securities Broker 382 8300 Limited --------------------- -------------------- ------------------- ------------------------- RFC Ambrian Oliver Morse +61 8 9480 2500 Limited Nominated Adviser on AIM --------------------- -------------------- ------------------- ------------------------- Liz Morley / +44 (0) 203 Bell Pottinger Investor and Media Anna Legge 772 2500 Relations --------------------- -------------------- ------------------- -------------------------
Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The Company is focused on exploration and development of mineral projects in Tanzania, and controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable operating environment for the mineral resource industry and Kibo Mining therein.
Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101 compliant defined resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to Power Project ("MCPP"), previously called Rukwa Coal to Power Project ("RCPP"), with an established management team that includes ABSA / Barclays as Financial Advisor. Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power Pre- Feasibility Study for the Mbeya project with an integrated Bankable Feasibility Study report for the MCPP to be released in the near term. On 25 August 2016, Kibo signed an Agreement with China based EPC contractor SEPCO III granting it the right to become the sole bidder for the EPC contract to build the power plant component of the MCPP in exchange for SEPCO III refunding 50% of the development costs incurred by Kibo to date on the project. Kibo has already received the first tranche of this funding in the amount of US$1.8 million on the 5th September 2016
The Company also has extensive gold focused interests including Lake Victoria Goldfields and Morogoro projects. At Lake Victoria, the Company has 100% owned projects with a 550,000 oz. JORC compliant gold Mineral Resource at the Imweru Project and a 168,000 oz. NI 43-101 compliant gold Mineral Resource at the Lubando Project. The Company is currently undertaking a Definitive Feasibility Study on its Imweru Project.
Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for nickel, PGMs, gold and strategic metals including lithium.
Kibo Mining further holds the Pinewood (coal & uranium) project where the company has entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
Finally, the Company also holds the Morogoro (gold) project where the company has also entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
The Company's projects are located in the established and gold prolific Lake Victoria Goldfields, the emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania where the Government has prioritized infrastructural development attracting significant recent investment in coal and uranium. The Company has a positive working relationship with the Tanzanian government at local, regional and national levels and works hard to maintain
positive relationships with all communities where company interests are held. The Company recognizes the potential to enhance the quality of life and opportunity for Tanzanian citizens through careful development of its projects.
Updates on the Company's activities are regularly posted on its website www.kibomining.com
Johannesburg
21 December 2016
Corporate and Designated
Adviser River Group
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEBSBDDGSDBGLB
(END) Dow Jones Newswires
December 21, 2016 09:50 ET (14:50 GMT)
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