Kibo commences monthly Q&A for investors

RNS Number : 3023C

Kibo Mining Plc

12 April 2017

 

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:  IE00B97C031

("Kibo" or "the Company")

 

12 April 2017

Kibo commences monthly Q&A for investors

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development company is pleased to announce that it is commencing a monthly Q&A session for investors, hosted by Vox markets.

To take part in the sessions, send your questions to [e-mail] and register with Vox Markets at www.voxmarkets.co.uk/ 

Vox Markets is an award-winning service that provides the sophisticated investment community with aggregated information from a variety of sources. To learn the latest on Kibo follow 'KIBO' at www.voxmarkets.co.uk/company/KIBO to receive push notifications when Kibo features in the press, releases an RNS or features on a podcast interview.

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]	Beaufort Securities Limited	Broker
Oliver Morse	[phone]	RFC Ambrian Limited	Nominated Adviser on AIM
Liz Morley / Anna Legge	[phone]	Bell Pottinger	Investor and Media Relations

Kibo Mining - Notes to editors

Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The Company is focused on exploration and development of mineral projects in Tanzania, and controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable operating environment for the mineral resource industry and Kibo Mining therein.

Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101compliant defined resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to Power Project ("MCPP"), previously called the Rukwa Coal to Power Project ("RCPP"), with an established management team that includes ABSA / Barclays as Financial Advisor. Kibo has completed a Coal Mining Definitive Feasibility Study and a Power Pre- Feasibility Study for the Mbeya project and has recently announced the completion of an Integrated Bankable Feasibility Study report for the project. On 25 August 2016, Kibo signed an Agreement with China based EPC contractor SEPCO III granting it the right to become the sole bidder for the EPC contract to build the power plant component of the MCPP in exchange for SEPCO III refunding 50% of the development costs incurred by Kibo to date on the project. Kibo has already received the first tranche of this funding in the amount of US$1.8 million on the 5th September 2016 and signed an EPC contract with SEPCO III on the 19th December 2016.

The Company also has extensive gold focused interests in Lake Victoria Goldfields of northern Tanzania, including 100% owned projects with a 515,000 oz. JORC compliant gold Mineral Resource at the Imweru Project and a 240,000 oz. JORC compliant gold Mineral Resource at  the Lubando Project. The Company is currently undertaking a Definitive Feasibility Study on its Imweru Project.

Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for nickel, PGMs, gold and strategic metals including lithium.

The Company's projects are located in the established and gold prolific Lake Victoria Goldfields and the Mtwara Corridor in southern Tanzania where the Government has prioritized infrastructural development attracting significant recent investment in coal and uranium. The Company has a positive working relationship with the Tanzanian government at local, regional and national levels and works hard to maintain positive relationships with all communities where company interests are held. The Company recognizes the potential to enhance the quality of life and opportunity for Tanzanian citizens through careful development of its projects.

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

Johannesburg

12 April 2017

Corporate and Designated Adviser

River Group

 

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