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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Kiwara | LSE:KIW | London | Ordinary Share | GB0007702953 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 77.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKIW RNS Number : 3974R Kiwara PLC 29 April 2009 Kiwara plc Registration number: 01760458 JSE: KWR AIM: KIW ISIN: GB0007702953 ("Kiwara" or the "Company") INTERNATIONAL FINANCE CORPORATION ("IFC") DISCLOSES INTENTION TO CONSIDER AN EQUITY INVESTMENT OF US$6 MILLION IN KIWARA Shareholders are advised that Kiwara is in advanced discussions with the IFC which, if successfully concluded, may have a material effect on the price of the company's securities. Following field due diligence, the IFC is considering an equity investment of US$6 million coupled with a warrants package ("the proposed investment"). In accordance with the standard procedures of the IFC, a summary of the proposed investment has now been disclosed to the public by the IFC in advance of consideration by the IFC Board of Directors of the proposed investment. The purpose of the proposed investment is to assist in the financing of the Company's ongoing exploration of the Kalumbila, Kawako and other regional targets within Prospecting Licence 267 in north western Zambia. The key features of the proposed investment are: * An equity investment of US$6 million with a warrants package * Potential for further funding at Feasibility Study and at development stages The disclosure documents are posted in the IFC website for 30 days prior to the IFC Board of Directors' consideration of the proposed investment. In light of the above, shareholders are advised to exercise caution when dealing in the Company's securities until a further announcement is made. The text of the disclosure is posted on the IFC website at: www.ifc.org/ifcext/spiwebsite1.nsf and will also be accessible on the Kiwara website at www.kiwara.co.uk. Colin Bird (Chairman) said "This proposed investment is of a sufficient magnitude to allow the Company to release value in the project.To have IFC as a strategic investor would give the Kiwara management team the confidence and support to embark on an aggressive exploration campaign directed towards resource definition and thereafter mine development". About Kiwara: Kiwara is an exploration company with a focus on base metals in the Republic of Zambia, which is a major copper producing country. Kiwara, through its majority owned subsidiary, Kalumbila Minerals, holds Prospecting Licence 267 which is within the Kabompo Dome in North Western Zambia, a geologically complex antiformal feature, which contains a number of base metal and uranium targets. This is within the area considered to be the western extension of the Copperbelt, an increasingly significant mining area that contains the recently developed Kansanshi and Lumwana copper mines. P.S. The cautionary nature of the announcement is in accordance with JSE Ltd regulations. For further information, please contact: Kiwara Plc Tel: +44 (0)207 581 4477 Colin Bird, Chairman Peter Vivian-Neal, Chief Executive Officer Tel: +260 (0) 211 293899 Sasfin, Johannesburg Brian Christie, Corporate Finance Tel: +27 (0) 11 809 7511 FinnCap, London Matthew Robinson, Corporate Finance Tel: +44 (0) 20 7600 1658 29 April 2009 This information is provided by RNS The company news service from the London Stock Exchange END STRCKCKQQBKDAQB
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