Kibo Energy Share Discussion Threads

[pj787] 21/11/2014 10:36

Well done to those who held on to there shares! Onwards and upwards

[california joe] 21/11/2014 10:35

California Joe 21 Nov'14 - 10:31 - 15156 of 15163 0 0 edit

fenseal3 21 Nov'14 - 10:25 - 15149 of 15154 0 1

"my last post, GLA"


For how long, a day, a week?

OH, 5 MINUTES LOL!!!!!!

[california joe] 21/11/2014 10:34

21 November 2014

Metal Tiger plc
(“Metal Tiger” or the “Company”;)

Memorandum of Understanding on Prospective Uranium Properties
Metal Tiger plc becomes a significant shareholder in Kibo Mining plc through £150,000 equity investment

In line with the Company's investing policy and strategic update announced on 24 July 2014, Metal Tiger Plc (LON: MTR), the AIM listed natural resources investing company, is pleased to announce that it has entered into a Memorandum of Understanding for a 50/50 Joint Venture with Kibo Mining plc (“Kibo”) on its uranium-prospective portfolio in Tanzania, together with an equity investment of £150,000 to become a significant shareholder in Kibo.



Metal Tiger’s CEO, Cameron Parry, commented: “Metal Tiger is pleased to enter into a commercial relationship with Kibo Mining Plc and invest £150,000 of existing cash resources into Kibo. We look forward to working with their management team under the proposed Joint Venture as outlined in our Memorandum of Understanding. The 50/50 Joint Venture will provide Metal Tiger with the opportunity to add value to, and benefit from, Kibo's sites with prospectivity for uranium - a strategic metal that the Board of Metal Tiger believes should increase in value over the next three years in line with increasing global demand. Through its equity shareholding in Kibo, Metal Tiger will achieve exposure to the near-production stage of the mining cycle phase via Kibo's near-production coal project, as well as gaining exposure to the potential of Kibo's gold assets in Tanzania.

Kibo and Metal Tiger entered into a Memorandum of Understanding (“MOU”) on 21 November 2014 for a 50/50 Joint Venture (“JV”) with regard to Kibo's Uranium-prospective portfolio of exploration rights in the southern western corner of Tanzania. The portfolio consists of 43 licences, offers, applications and tenders with a combined surface area of 9,033 square kilometres (the “Pinewood Portfolio”).

Under the MOU Metal Tiger has 90 days to complete its due diligence process and within which period the parties are to complete and sign a binding JV agreement. The terms of the MOU would see Metal Tiger pay for the ongoing licence renewal fees and other maintenance costs for a minimum of 12 months (estimated to be approximately US$100,000 p.a.) and up to a maximum of 3 years within which timeframe Metal Tiger is to expend a total of US$800,000 on project costs (including licence renewal fees) and an agreed exploration work program, to maintain its 50% interest in the JV. Should Metal Tiger expend less than a total of US$800,000 whilst maintaining the Pinewood Portfolio licences, but not less than US$300,000 then Metal Tiger's 50% interest in the JV will revert to a 10% free carry on the Pinewood Portfolio. Should Metal expend less than $300,000 in total then Metal Tiger's total interest in the JV shall revert to Kibo.

Concurrently Metal Tiger has agreed to acquire 10,000,000 new ordinary shares in Kibo (the “Subscription Shares”) at a price per share of 1.5p per Subscription Share (“the Subscription”). Metal Tiger has invested a total of £150,000 into Kibo to be funded from the Company’s existing cash resources. Following completion of the Subscription, Metal Tiger will become a significant shareholder in Kibo with a beneficial interest in 3.67% of Kibo’s issued share capital. An application will be made by Kibo for the Subscription Shares to be admitted to trading on AIM following receipt of the subscription monies. The subscription monies are due to be received by 20 December 2014.

As part of the transaction Kibo will also issue Metal Tiger with warrants over 10,000,000 new ordinary shares in Kibo, exercisable within a three-year term at an exercise price of 3p each.

[tadtech] 21/11/2014 10:34

The deal brings another of Kibo's 'silo's' into play. It should be remembered that the northern part of the Pinewood Uranium license is very adjacent to a project that was acquired for $1.16 billion (Yes billion dollars)

The deal only covers Uranium exploration, there are also coal and gold deposits on the Pinewood license.

The 3p warrants are part of Coetzee's new agenda, i.e. avoid equity placements. The deal could offer Kibo as much as £450,000 in cash - Not bad for a dormant license, 3p should be easily attainable very quickly IMO.


Kibo’s most northernmost tenements in the Songea Block are located about 80 km west of the Mkuju River uranium deposit which was discovered by Mantra Resources in recent years and is now operated by Uranium One (TSX –listed) following a $1.16 billion sale to to Russian company Atomredmetzoloto in June 2011.

[fenseal3] 21/11/2014 10:33

ert, i didn't say it was, i got told by a fellew investor that the pattern of trading in KIBO has all the hall marks of that scenario, he has been dealing in shares for over 50 years, maybe i shouldn't of voiced it here, seems that's my crime, give a guy a break!!!

[pj787] 21/11/2014 10:33

Correct bill Louis hinted uranium and its there.

[california joe] 21/11/2014 10:32

The good thing 10009504 is that the expected is still to come :)

[valentine] 21/11/2014 10:32

That spike should get rid of the nervous..odd tho. It needs to hold that level so as not to indicate another cash call. GL..I hope it works at last.

[bill182] 21/11/2014 10:32

With a stream of good news set to compliment today's announcement and the threat of any further give-away placings receding, we are only going one way now.

[california joe] 21/11/2014 10:31

fenseal3 21 Nov'14 - 10:25 - 15149 of 15154 0 1

"my last post, GLA"


For how long, a day, a week?

[10009504] 21/11/2014 10:30

Think I was saying all week expect the unexpected in a different area. :-)

[vivgav] 21/11/2014 10:29

It was NEVER going to be delisted.....fenseal naughty pork pie there.

[pj787] 21/11/2014 10:29

Derampers are appearing as news gets closer!

[vivgav] 21/11/2014 10:29

Chart looks nice.......coiled!

[ertugrul] 21/11/2014 10:26

Look at tone of fenseal now...

Is KIBO going to be suspended or delisted?

[bill182] 21/11/2014 10:26

Fantastic news all round. I'll bet not many people even knew we had the Uranium licence and when they digest the RNS and see what assets the company has, there should be a steady stream of buyers.

[fenseal3] 21/11/2014 10:25

It still needs to break 1.8p to stop the downward trend on the high spikes...i will probably get a red tick for that, and my last post, GLA!!!

[california joe] 21/11/2014 10:25

People with problems should perhaps consider other investments!

[michaelsadvfn] 21/11/2014 10:23

The last time I looked Uranium was up 50% since the summer...

[quinan] 21/11/2014 10:22

I am not worried let them go this is only going one way, as highlighted lots more news in the coming WEEKS not months WEEKS

[fenseal3] 21/11/2014 10:22

The problem i have with KIBO is they will get others to do their work which is ok but because they don't have the cash to cover it all they will give shares away....they should be signing the JV and then start to give shares away for work carried out at a higher price...do you think if they hand out shares to one company for 1.5p for their service another will take a higher price, the 1.5p may be around for a while untill LC finishes all the deals he has in line...one good thing is the shares are going to a home where they might stay rather than the market.

[michaelsadvfn] 21/11/2014 10:18

It's quite amazing how many short termers there are on AIM, the slightest tick up and they're off with their £50 profit only for the share to continue rising.

[cammy3] 21/11/2014 10:16

DFS guaranteed by 30th which is next Sunday so we should see next week or a week Monday at latest. $100m JV will then be next.

Well done LC - Its all coming together

[cammy3] 21/11/2014 10:12

Digested this twice now and on the face of it its a great deal. Creating value and reducing any further Kibo cash towards this. BRILLIANT DEAL. OK they getting shares at 1.5p then 3p but the big news is next week DFS reiterated due by 30th Nov

[quinan] 21/11/2014 10:11

I like this bit

We anticipate significant further news flow across our project portfolio in the coming weeks in what is building into an exciting period for the company and investors."