Annual Report, AGM Date and Director Resignations

RNS Number : 7947I

Kibo Mining Plc

08 July 2013

 



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: IE00B61XQX41

("Kibo" or "the Company")

Dated: 8 July 2013

Annual Report, AGM Date and Director Resignations

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that its AGM will be held in the Conrad Hotel, Earlsfort Terrace, St Stephen's Green, Dublin 2 on Wednesday 31 July 2013 at 2 p.m. A notice of AGM was included on the Annual Report which has been posted to shareholders and is now also available on the Company's website.

Kibo also announces that Mr. Cecil Bond and Mr. Bernard Poznanski have informed the Company that they will not be offering themselves for re-election to the Board at the forthcoming AGM and shall be retiring from the Board with effect from the date of the AGM. Both gentlemen were appointed to the Board following the Company's acquisition of Mzuri Energy Limited and Mayborn Resource Investments (Pty) Limited in 2012, in order to facilitate the smooth integration of these two companies into the Kibo group. Cecil & Bernard have provided invaluable guidance and assistance during their brief directorships of the Company in ensuring this has been a smooth integration. The Board wishes to thank them sincerely for their contribution and wishes them well in the future.

Contacts

Louis Coetzee	[phone]	Kibo Mining plc	Chief Executive Officer
Andreas Lianos	[phone]	River Group	Corporate Adviser and Designated Adviser on JSE
Jon Belliss	[phone]	XCAP	Joint Broker
Stuart Laing	[phone]	RFC Ambrian Limited	Nominated Adviser on AIM
Matt Beale	[phone]	Fortbridge	Investor Relations

Updates on the Company's activities are regularly posted on its website www.kibomining.com

General Background & Strategy

Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania, East Africa and was admitted to AIM in London on 27 April 2010 and AltX in Johannesburg on 30 May 2011.  The Board of Kibo is composed of professionals whose experience include mineral exploration, mine development, mining finance, tax, law, mergers and acquisitions, and financial control of public companies. It is supported by a competent and motivated Tanzanian staff that operates from Kibo's operations office in Dar es Salaam.

The mineral assets of the Company comprise five projects areas in Tanzania - Haneti (nickel, PGE and gold), Morogoro (Gold), Lake Victoria (Gold), Rukwa (Coal) and Pinewood (Coal & Uranium).

The Haneti project is the subject of a joint venture with Brazilian Votorantim Metais Participações Ltda, a member of Votorantim Group. The Rukwa and Pinewood projects are situated close to the Mtwara Corridor, an area where the Tanzanian Government has committed to significant infrastructure development and which has seen recent multi-million dollar investment in coal and coal-fired power stations and uranium exploration.

The Rukwa project is substantially more advanced than Kibo's existing exploration projects, with a significant Mineral Resource of thermal coal already defined. The project enjoys strong support expressed by the Tanzanian Government for the expedited development of a coal mine and mine-mouth coal-fired power plant.

Kibo's objective is to build shareholder value in a sustainable manner.  This objective will be pursued primarily through active exploration of its own projects and by using the Company's experience in Tanzania to acquire attractive exploration and development assets on competitive terms that can be moved swiftly up the value curve by using the Company's own skills base whilst also seeking to benefit from strategic collaborative relationships with industry leaders who have special skills and competencies within their chosen fields of focus.  Kibo will undertake continual risk assessment of its projects and take whatever actions it believes are necessary to ensure that these risks are mitigated.

Johannesburg
8 July 2013

River Group

Corporate and Designated Adviser

River Group

 

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