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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Kibo Energy Plc | LSE:KIBO | London | Ordinary Share | IE00B97C0C31 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0065 | 0.006 | 0.007 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Energy | 319.47k | -2.75M | -0.000623 | -0.10 | 956.49k |
From Jun 2021 to Jun 2026
TIDMKIBO
RNS Number : 1816S
Kibo Mining Plc
21 June 2018
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')
Dated: 21 June 2018
Kibo Mining Plc ('Kibo' or the 'Company')
Maiden SAMREC-Compliant Coal Resource Statement for Mabesekwa Coal Resource
Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa focused energy and resource company, is pleased to announce an update on its 85% controlled Mabesekwa Coal Independent Power Project ('MCIPP' or the 'Project') in Botswana, which it is developing with Botswana listed energy company Shumba Energy Limited ("Shumba"). The Project, which is being advanced in tandem with the Company's Mbeya Coal to Power Project ('MCPP') in Tanzania and Benga Independent Power Project ('BIPP') in Mozambique, is a part of Kibo's strategy of building a leading African focused power company.
Feasibility studies on the MCIPP and Mabesekwa Coal Resource ("MCR") are advanced, with water and land use permits and environmental certification already in place and a pre-feasibility study ('PFS') on a coal mine and a scoping study on a coal fired thermal power plant completed. The Company has now received a Competent Persons Report ('CPR') on the Project, which includes a SAMREC-compliant Maiden Resource Statement on the excised 300 Mt portion of the MCR ('Kibo Mabesekwa Coal Resource' or 'KMCR').
The CPR was completed by independent geological and mining consultancy company, Gemecs (Pty) Ltd of South Africa. The highlights of the report include:
-- Maiden Coal Resource Statement for the KMCR indicating total mineable In-situ Coal Resource of 302.9 million tonnes (257.5 Mt attributable to Kibo on an 85% basis) as per the SAMREC categories below (Refer Table 1 below for detailed Coal Resource Statement);
Premium
Resource Category Mineable In-Situ Mineable In-Situ % of Total
Tonnes Tonnes (85% attributable)
(100% basis)
Measured 56.2 47.8 18.6
----------------- --------------------------- -----------
Indicated 187.0 159.0 61.7
----------------- --------------------------- -----------
Inferred 59.7 50.7 19.7
----------------- --------------------------- -----------
Total 302.9 257.5 100
----------------- --------------------------- -----------
-- Results from simple washability indicate that there is potential to lower the ash content, increase the calorific value and lower the total sulphur content by washing the coal at an appropriate density (de-stoning) to maximize coal yields for use in a thermal power plant; and
-- Further testing from bulk samples obtained from existing and recently drilled large diameter hotels across the coal deposit (includes MCR and KMCR) by Shumba Energy, has yielded results which demonstrate that favorable coal quality can be achieved through industry standard beneficiation processes. This will provide suitable coal products for coal to power generation with low sulphur content.
Kibo CEO, Louis Coetzee, said: "With a SAMREC compliant 303Mt coal Resource and a confirmed coal quality we have a key pillar completed for the BFS for the MCIPP. We are working closely with Shumba and have already made progress in bringing this project to fruition. With water and land use permits and environmental certification in place, as well as a PFS on the coal mine and scoping study on the power plant, we see a clear development path with deliverables that will increase the inherent value of the Project. We now have three energy projects and are building our strategy of becoming a significant energy player in Africa, utilising our international network of blue-chip companies with the ability to deliver turnkey projects to address the acute African power deficit."
Technical Summary
Gemecs (Pty) Limited was commissioned by Kibo to undertake a CPR and maiden Resource Statement on the approximate 300 Mt coal resource in which the Company holds an 85% interest obtained from Shumba Energy Limited in a transaction completed in April 2018. This 300 Mt coal resource (KMCR) was excised from Shumba Energy's larger Mabesekwa Coal Resource (MCR), reported at the time of the transaction to contain 777 Mt. Gemecs used the original existing geological model for the MCR to calculate a maiden Resource Statement for the KMCR to the SAMREC standard as well as reporting on coal quality and other technical tests applicable to processing of both the MCR and KMCR. These tests were enabled following the recent drilling of 11 wide diameter boreholes for bulk sample collection across the coal deposit.
The SAMREC-compliant maiden Resource Statement for the KMCR is shown in Table 1, while Kibo's attributable interest of 85% is shown on Table 2. Reference to Table 1 shows that the SAMREC-compliant Coal Resource calculated for the KMCR is marginally larger, at nearly 303 Mt, than Kibo's original internal (non-SAMREC) coal resource reported in its RNS of the 3(rd) April 2018.
Table 1: Mabesekwa Kibo Resource Statement- SAMREC-compliant Gemecs, 11 June 2018
AREA AREA (m2) RESOURCE SEAM GROSS IN GEOLOGICAL MINEBALE SEAM THICKNESS DEPTH BELOW
NAME CLASS SITU TONNES LOSS % IN SITU (m) SURFACE
TONNES (m)
Mt300 11,556,050 MEASURED SG 0 5 0
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INDICATED SG 0 10 0
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INFERRED SG 286,700 15 243,695 4.25 38.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL SG 286,700 243,695 4.25 38.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 MEASURED SF 71,500 5 67,925 1.85 45.3
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INDICATED SF 3,936,000 10 3,542,400 3.25 36
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INFERRED SF 106,000 15 90,100 2.59 40.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL SF 4,113,500 3,700,425 3.21 36.3
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 MEASURED SE 0 5 0
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INDICATED SE 4,547,700 10 409,930 2.22 40.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INFERRED SE 27,000,600 15 22,950,510 4.29 33.4
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL SE 31,548,300 27,043,440 3.99 34.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 MEASURED SD 811,300 5 770,735 4.3 63.4
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INDICATED SD 18,401,100 10 16,560,990 3.32 39.9
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INFERRED SD 5,086,600 15 4,323,610 2.39 36.6
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL SD 24,299,000 21,655,335 3.16 40
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 MEASURED SC 13,196,900 5 12,537,055 5.82 40.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INDICATED SC 43,405,100 10 39,064,590 4.91 38
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INFERRED SC 8,550,500 15 7,267,925 4.68 33.9
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL SC 65,152,500 58,869,570 5.06 38
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 MEASURED SB 26,782,000 5 25,442,900 6.18 44.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INDICATED SB 75,963,000 10 68,366,700 5.86 41.4
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INFERRED SB 15,522,600 15 13,194,210 5.52 47.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL SB 118,267,600 107,003,810 5.89 42.9
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
AREA AREA (m2) RESOURCE SEAM GROSS IN GEOLOGICAL MINEBALE SEAM THICKNESS DEPTH BELOW
NAME CLASS SITU TONNES LOSS % IN SITU (m) SURFACE
TONNES (m)
Mt300 11,556,050 MEASURED SA 18,315,900 5 17,400,105 7.58 49.3
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INDICATED SA 61,491,700 10 55,342,530 6.5 47.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
Mt300 11,556,050 INFERRED SA 13,733,000 15 1,167,050 5.18 51.2
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL SA 93,540,600 84,415,685 6.52 48.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ------------
TOTAL COAL ALL SEAMS 337,208,200 302,931,960
------------- ----------- ------------ --------------- ------------
Table 2: Mabesekwa Kibo Resource Statement- SAMREC-compliant Kibo's 85% attributable interest
AREA AREA (m2) RESOURCE SEAM GROSS IN GEOLOGICAL MINEBALE SEAM THICKNESS DEPTH
NAME CLASS SITU TONNES LOSS % IN SITU (m) BELOW
TONNES SURFACE
(m)
Mt300 11,556,050 MEASURED SG 0 5 0
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INDICATED SG 0 10 0
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INFERRED SG 243,695 15 207,141 4.25 38.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL SG 243,695 207,141 4.25 38.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 MEASURED SF 60,775 5 57,736 1.85 45.3
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INDICATED SF 3,345,600 10 3,011,040 3.25 36
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INFERRED SF 90,100 15 76,585 2.59 40.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL SF 3,496,475 3,145,361 3.21 36.3
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 MEASURED SE 0 5 0
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INDICATED SE 3,865,545 10 348,441 2.22 40.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INFERRED SE 22,950,510 15 19,507,934 4.29 33.4
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL SE 26,816,055 22,986,924 3.99 34.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 MEASURED SD 689,605 5 655,125 4.3 63.4
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INDICATED SD 15,640,935 10 14,076,842 3.32 39.9
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INFERRED SD 4,323,610 15 3,675,069 2.39 36.6
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL SD 20,654,150 18,407,035 3.16 40
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 MEASURED SC 11,217,365 5 10,656,497 5.82 40.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INDICATED SC 36,894,335 10 33,204,902 4.91 38
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INFERRED SC 7,267,925 15 6,177,736 4.68 33.9
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL SC 55,379,625 4,989,135 5.06 38
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 MEASURED SB 22,764,700 5 21,626,465 6.18 44.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INDICATED SB 64,568,550 10 58,111,695 5.86 41.4
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INFERRED SB 13,194,210 15 11,215,079 5.52 47.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL SB 100,527,460 90,953,239 5.89 42.9
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 MEASURED SA 15,568,515 0.05 14,790,089 7.58 49.3
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INDICATED SA 52,267,945 0.1 47,041,151 6.5 47.7
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
Mt300 11,556,050 INFERRED SA 11,673,050 0.15 991,993 5.18 51.2
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL SA 79,509,510 71,753,332 6.52 48.5
----------- ---------- ----- ------------- ----------- ------------ --------------- ---------
TOTAL COAL ALL SEAMS 286,626,970 257,492,166
------------- ----------- ------------ --------------- ---------
Technical Notes
Minimum coal seam thickness cut-off = 1 metre
Dry Ash Free Volatile cut-offs (in-situ raw qualities = 26%
Coal quality and processing tests were recently undertaken by Shumba Energy on samples from 18 historic drill holes on an approximate 1 km spacing across the coal deposit included ultimate analysis (C-H-N-O), ash fusion temperature (AFT) reducing and oxidising, ash composition analysis (by XRF) and 45 trace elements plus chlorine and fluorine. Additionally, a total of 23 samples were taken of the six most economical coal seams, from large diameter core holes that were drilled next to existing slim diameter boreholes. The combined samples yielded a bulk sample mass of 4,459.50kg. This bulk sample was split into three batches so that various analytical tests could be performed on each and sent to appropriately credited laboratories in Botswana.
Table 2 shows the raw air cola dried coal qualities across the standard measures for the KMCR. The bulk samples were also subject to Dense Medium Separator Tests comprising Cyclone, Drewbody and Spiral tests. All these tests concluded that a high-quality product for feed to a thermal power plant can be readily obtained with a high product yield of about 85% at a 1.8 g/cc. A promising result from this work was that sulphur washes out very effectively to a very low percentage at this density.
**S**
Contacts:
For further information please visit www.kibomining.com or contact:
Louis Coetzee louisc@kibomining.com Kibo Mining Chief Executive
Plc Officer
Andreas Lianos +27 (0) 83 4408365 River Group Corporate Adviser
and Designated Adviser
on JSE
------------------------- ----------------- --------------------------
Ben Tadd / Tom +44 (0) 20 3700 0093 SVS Securities Joint Broker
Curran Limited
------------------------- ----------------- --------------------------
Jon Belliss +44 (0) 20 7399 9400 Novum Securities Joint Broker
Ltd
------------------------- ----------------- --------------------------
Andrew Thomson +61 8 9480 2500 RFC Ambrian NOMAD on AIM
Limited
------------------------- ----------------- --------------------------
Isabel de Salis +44 (0) 20 7236 1177 St Brides Investor and Media
/ Priit Piip Partners Ltd Relations Adviser
------------------------- ----------------- --------------------------
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
Notes to editors
Kibo is a multi-asset resource development and energy company with a long-term goal of becoming a leading power producer in Sub-Saharan Africa. The Company aims to tackle the acute power deficit which is severely hindering economic development in the region.
To assist in the execution of its power projects, Kibo has assembled an international team of advisors and partners including Engineering Procurement and Construction ('EPC') contractors and financial teams that are assisting in the advancement and development of the MCPP. These include ABSA/Barclays as Financial Advisor, China based EPC contractor SEPCO III, General Electric, Tractebel Engineering (Power), Minxcon Consulting (Mining) and legal advisors Norton Rose Fulbright.
Kibo's flagship asset is the Mbeya Coal to Power Project ('MCPP') in Tanzania, which comprises the Mbeya Coal Mine, a 1.5Mt p/a mining operation, and the Mbeya Power Plant, a 300MW mine-mouth thermal power station. The Mbeya Coal Mine has a defined 120.8 Mt NI 43 101 thermal coal resource. A Definitive Feasibility Study has been conducted on the project which underpinned its value and confirmed an initial rate of return of 69.2%. The 300MW mouth-of-mine thermal power station has long term scalability with the potential to become a 1000MW plant. The completed full Power Feasibility Study highlighted a power output target of 1,800 GWh/a based on annual average coal consumption of 1.5Mt. An Integrated Bankable Feasibility Study report for the entire project indicated total potential revenues of US$ 7.5-8.5 billion over an initial 25-year mine life, post tax equity IRR between 21-22%, debt pay-back period of 11-12 years and a construction period of 36 months.
Kibo also has an 85% interest in the Mabesekwa Coal Independent Power Project ('MCIPP'), a nearly identical power project in Botswana. The project consists of 300Mt subset of the current in-situ 777Mt Coal Resource and has water and land use permits and environmental certification in place. A Pre- Feasibility Study on the coal mine has been completed, as has a Scoping Study, which highlight the power plant having a maximum capacity of 600MW (4x150MW) based on a coal delivery rate of 3.2Mtpa and a Life of Mine of over 30 years.
Furthermore, Kibo also has a Joint Venture agreement with Mozambique energy company Termoeléctrica de Benga S.A. ('Termoeléctrica') to participate in the further assessment and potential development of the Benga Independent Power Project ('BIPP'), including the right to construct and operate a 150-300MW coal fired power station. Kibo and Termoeléctrica shall hold initial Participation Interests in the unincorporated joint venture of 65% and 35% respectively.
Review by Qualified Persons
The information in this announcement that relates to the Mabesekwa Kibo Coal Resource is taken from a CPR report by Mr NJ Denner who is employed by Gemecs (Pty) Ltd as a full-time consulting geologist. Mr NJ Denner, Pr.Sci.Nat, B.Sc Hons (Geology), FGSSA, SEG, is a geologist with 23 years' experience in the South African Mining Industry and a member of South African Council for Natural Scientific Professions (Membership No.400060/98). Mr NJ Denner has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2016 Edition of the 'The South African Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (SAMREC)' and for the purposes of the AIM Rules for Companies. Mr NJ Denner consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears
Kibo's Technical Director, Noel O'Keeffe, B.Sc.(Hons) Geology P.Geo and a member of the Institute of Geologists of Ireland, a director of Kibo and a Qualified Person within the meaning of SAMREC and the AIM Rules for Companies has reviewed the CPR report, the Kibo Mabesekwa Coal Resource Statement and the references to them in this announcement.
Glossary of Technical Terms
"air-dried" In equilibrium with a standard environment or with the normal
surroundings. Includes inherent (equilibrium) moisture content
for coal
"ash" A measure of the non-combustible material in coal, expressed
as a
percentage. Determined by proximate analyses tests
-----------------------------------------------------------------------
"Cut-off grade" The cut-off grade is the level below which material within
an ore body does not contain sufficient value to economically
justify processing into a final saleable form
-----------------------------------------------------------------------
"CV" Calorific Value. A measure of the heat content of a sample.
Normally measured in MJ/kg
-----------------------------------------------------------------------
"density" Measure of the relative "heaviness" of objects in terms of
constant
volume. Density =-mass/volume
-----------------------------------------------------------------------
"g" Gram - a metric unit of weight
-----------------------------------------------------------------------
"IM" More correctly termed 'equilibrium' moisture. Moisture content
bound up in a coal sample which remains after that sample
has been air-dried.
-----------------------------------------------------------------------
"Indicated That part of a coal resource for which tonnage, densities,
Resource" shape, physical characteristics, grade and coal quality can
be estimated with a moderate level of confidence. Based on
exploration, sampling and testing information gathered through
appropriate techniques from locations such as outcrops, trenches,
pits, workings and drill-holes. The data-point locations are
appropriate to confirm physical continuity, while they are
too widely or inappropriately spaced to confirm quality continuity.
However, such locations are spaced closely enough for quality
continuity to be assumed.
-----------------------------------------------------------------------
"Inferred That part of a coal resource for which tonnage, grade and
Resource" coal quality can be estimated with a low level of confidence.
It is inferred from geological evidence and assumed but not
verified physical continuity with or without coal quality
continuity. Based on exploration, sampling and testing information
gathered through appropriate techniques from locations such
as outcrops, trenches, pits, workings and drill-holes which
is limited or of uncertain quality or reliability.
-----------------------------------------------------------------------
"insitu" In its original place. Most often used to refer to the location
of Mineral Resources
-----------------------------------------------------------------------
"insitu tonnage" Measure of mass of coal or other mineral in the ground
-----------------------------------------------------------------------
"JORC" Australasian Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves
-----------------------------------------------------------------------
"kg" Kilogram (one thousand grams) - a measure of weight
-----------------------------------------------------------------------
"m" A metre - a measure of length or thickness
-----------------------------------------------------------------------
"megaton" A million tonnes (measure of weight)
-----------------------------------------------------------------------
"Measured A Measured Mineral Resource is that part of a Mineral Resource
Resource" for which quantity, grade or quality, densities, shape, and
physical characteristics are estimated with confidence sufficient
to allow the application of Modifying Factors to support detailed
mine planning and final evaluation of the economic viability
of the deposit
-----------------------------------------------------------------------
"Mineral Resource" A "Mineral Resource" is a concentration or occurrence of diamonds,
or natural solid inorganic material, or natural solid fossilised
"Coal Resource" organic material including base and precious metals, coal,
(where the and industrial minerals in or on the Earth's crust in such
mineral is form and quantity and of such a grade or quality that it has
coal) reasonable prospects for economic extraction. The location,
quantity, grade, geological characteristics and continuity
of a Mineral Resource are known, estimated or interpreted
from specific geological evidence and knowledge.
-----------------------------------------------------------------------
"Mj/kg" Mega-Joule per kilogram (unit of energy)
-----------------------------------------------------------------------
"Mt" Abbrev. for megaton (measure of weight). Equals 1 million
tonnes
-----------------------------------------------------------------------
"MW" Million watts (unit of power, measure of rate at which energy
is
generated or consumed)
-----------------------------------------------------------------------
"RD" Relative Density.
-----------------------------------------------------------------------
"SAMREC" South African Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves
-----------------------------------------------------------------------
"t" A metric tonne - a measure of weight
-----------------------------------------------------------------------
"t/m3" Metric tonnes per cubic metre - a measure of density
-----------------------------------------------------------------------
"tonnage" Quantities where the tonne is an appropriate unit of measure.
Typically used to measure or estimate quantities of in situ
material or quantities of material mined, transported, processed
or sold.
-----------------------------------------------------------------------
"TS" Total sulphur, a coal quality measure
-----------------------------------------------------------------------
"volatiles/volatile A measure of the volatile component of coal as determined
Matter/VM" under fixed conditions in a laboratory as part of proximate
analysis.
-----------------------------------------------------------------------
Johannesburg
21 June 2018
Corporate and Designated Adviser
River Group
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DRLXFLFLVQFZBBF
(END) Dow Jones Newswires
June 21, 2018 09:55 ET (13:55 GMT)
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