Share Name Share Symbol Market Type
Kibo Mining Plc Ord Eur0.015 NEX:KIBO.GB NEX Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50p -10.64% 4.20p 3.90p 4.40p 4.50p 4.075p 4.49p 809,532 16:30:04

Kibo Mining Plc UK Investor Show

17/04/2018 8:00am

RNS Non-Regulatory


TIDMKIBO

Kibo Mining Plc

17 April 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: 17 April 2018

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

Update on the UK Investor Show

Kibo Mining plc ('Kibo' or the 'Company') (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company remains engaged with Tanzania Electric Supply Company ('TANESCO') in the ongoing process for the Power Purchase Agreement ('PPA') on the Company's Mbeya Coal to Power Project ('MCPP'). Due to the critical importance and extent of these ongoing talks, as well as the immediate mobilization of work at the Mabesekwa project in Botswana, Kibo's management team is unable to attend the UK Investor show in London on 21 April as planned. The Company will however hold a private shareholder and investor event in the near future and details will be advised once they are finalised.

Louis Coetzee, CEO of Kibo Mining, said: "It is regrettable that Kibo is unable to have a presence at the UK Investor Show, but executive management's undivided attention is required in Tanzania during these crucial discussions. However, I look forward to meeting shareholders and investors at a private Kibo investors evening in London, where we can engage with and respond to the shareholders questions in a more personal environment."

**ENDS**

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             +44 (0) 20 3700         SVS Securities       Joint Broker 
    /                    0093                    Limited 
    Tom Curran 
   Jon Belliss          +44 (0) 20 7399         Novum Securities     Joint Broker 
                         9400                    Ltd 
   Andrew Thomson       +61 8 9480 2500         RFC Ambrian          NOMAD on AIM 
                                                 Limited 
   Isabel de            +44 (0) 20 7236         St Brides Partners   Investor and 
    Salis / Priit        1177                    Ltd                  Media 
    Piip                                                              Relations Adviser 
 

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.

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.

To assist in the execution of this critical power project of the MCPP, 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 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.

Johannesburg

17 April 2018

Corporate and Designated Adviser

River Group

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRAUBANRWSASARR

(END) Dow Jones Newswires

April 17, 2018 03:00 ET (07:00 GMT)

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