KIBO Kibo Energy Plc (KIBO) News

Kibo Energy (LSE:KIBO)
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RNS Number : 0208T

Kibo Mining Plc

29 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: 29 June 2018

Kibo Mining Plc ('Kibo' or the 'Company')

Press Speculation

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, announces that, contrary to press speculation, its engagement with the Tanzania Electric Supply Company ('TANESCO') with regard to the development of the Mbeya Coal to Power Project ('MCPP') remains unchanged and the Company is continuing to advance its discussions with TANESCO regarding the Power Purchase Agreement ('PPA') for the 300MW MCPP.

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

For further information please visit www.kibomining.com or contact:

 
 Louis Coetzee    info@kibomining.com   Kibo Mining        Chief Executive 
                                         Plc                Officer 
---------------  --------------------  -----------------  -------------------- 
 Andreas Lianos   +27 (0) 83            River Group        Corporate and 
                   4408365                                  Designated Adviser 
                                                            on JSE 
---------------  --------------------  -----------------  -------------------- 
 Ben Tadd         +44 (0) 20            SVS Securities     Joint Broker 
  / Tom Curran     3700 0093             Limited 
---------------  --------------------  -----------------  -------------------- 
 Jon Belliss      +44 (0) 20            Novum Securities   Joint Broker 
                   7399 9400             Ltd 
---------------  --------------------  -----------------  -------------------- 
 Andrew Thomson   +61 8 9480            RFC Ambrian        NOMAD on AIM 
                   2500                  Limited 
---------------  --------------------  -----------------  -------------------- 
 Isabel de        +44 (0) 20            St Brides          Investor and 
  Salis / Priit    7236 1177             Partners Ltd       Media Relations 
  Piip                                                      Adviser 
---------------  --------------------  -----------------  -------------------- 
 

Notes to editors

Kibo Energy plc is a multi-asset, Africa focussed, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company's objective to become a leading independent power producer in the region.

Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in Botswana; and the Benga Independent Power Project ('BIPP') in Mozambique. By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance. Additionally, the Company will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes: SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa); and Hogan Lovells International LLP.

Johannesburg

29 June 2018

Corporate and Designated Adviser

River Group

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END

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(END) Dow Jones Newswires

June 29, 2018 02:01 ET (06:01 GMT)