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MOU on Kibo Uranium Portfolio and Equity Investment

Binding Memorandum of Understanding to close Joint Venture on Kibo Uranium Portfolio and £150,000 equity investment by Metal Tiger PLC
  • Binding Memorandum of Understanding (“MOU”) for 50/50 Joint Venture on Uranium Portfolio
  • £150,000 equity investment by Metal Tiger PLC (“Metal Tiger”) (AIM:MTR)
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Issue of Shares for Cash

Kibo Issue of Shares for Cash

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company, herein announces that it has issued 1,750,000 new ordinary shares of Eur0.015 (“Ordinary Shares”) at 1 . 5 p per share (the “Settlement Shares”) for cash, to settle an invoice in respect of advisory services to the Company for a total cost of £26,250. These services comprise investor relations and corporate strategy consultancy work.

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LETTER TO SHAREHOLDERS FULL TEXT

Dear Shareholders and Business Colleagues

The Board of Kibo Mining plc recognises the currently severe conditions we are experiencing in the natural resource equities sector. We also note and appreciate the impact for Kibo Mining investors where a significant fall in share price has occurred over recent years.

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NOTICE OF PRESENTATION IN LONDON and LETTER TO SHAREHOLDERS

Notice of Presentation in London and Letter to Shareholders

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company, is pleased to announce it will be presenting to investors at the MiningMaven Investor Evening in London on Thursday 13th November 2014. This presentation will be made available from Kibo’s website. Shareholders and investors wishing to attend this evening may register free of charge at the event website:
https://www.eventbrite.co.uk/e/miningmaven-investor-evening-mosman-oil-gas-ecr-mineralskibo-mining-registration-9994274143

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Kibo Mining- Clarification of CEO Shareholding

In Kibo’s announcement of 31 July 2014 “Kibo Mining Plc Results of Annual General Meeting and Completion of Placing Announced on 14 July 2014”, it was disclosed that Louis Coetzee, Kibo’s CEO, held 7,133,284 shares in the Company following his participation in this placing of 1,533,381 shares. This disclosure was incorrect and Mr Coetzee in fact held 5,876,998 shares in the Company following his participation in the placing at 14 July 2014.

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First Financial Indicators for RCPP

First Financial Indicators for Rukwa Coal to Power Project (“RCPP”)

Highlights
  • Initial financial modelling confirms robust project economics;
  • Continuous surface mining technology is expected to result in reduced direct mining costs.
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Kibo Raises £855,725 in Share Placing

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to announce it has received commitments to a share placing of 57 048 352 new ordinary shares of Eur.

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Finweek (Leading South African Business Magazine) report on Rukwa Coal to Power project

 Kibo attracting believers

Shares in Kibo Mining made an extraordinary leap in one day in mid-September gaining 133% an improvement of such scale as to suggest the London- and Johannesburg-listed gold and energy company has attracted some believers within the investment parish.

On a 12-month return basis, the gains in the company’s shares have been ever better, appreciating more than 300%, which is another positive signal that the share is not responding to short-term zealous enthusiasm. But why the improvement?

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Kibo Moves Closer to Key Commercial Agreements on RCPP

Kibo Moves Closer to Finalising Key Commercial Agreements for Rukwa Coal to Power Project (“RCPP”)

Highlights
  • Agreement reached on terms of reference for development of Power Purchase Agreement (“PPA”) and Grid Connection Agreement (“GCA”);
  • Agreement reached on initial heads of terms for Coal Sale Agreement (“CSA”); and
  • Detailed financial modelling of Rukwa Coal Mine commences.
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Kibo Half-Year Results to 30 June 2014

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO) the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce its unaudited half year results for the period ended 30 June 2014.

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Sustained Progress at RCPP’s DMFS

Sustained Progress on Rukwa Coal to Power Project’s (“RCPP”) Definitive Mining Feasibility Study (“DMFS”)

Highlights
  • Conceptual Mine Design and Schedule completed;
  • Conceptual Framework for Coal Infrastructure and Logistics completed;
  • Conceptual Plant design completed;
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Preliminary Evaluation Confirms Mining Viability for RCPP

Preliminary Economic & Technical Evaluation of Rukwa Coal to Power Project Confirms Mining Viability

Highlights
  • Early economic and technical evaluation of the Rukwa Coal Mine confirms robust project fundamentals
  • Rapid progress on Definitive Mining Feasibility Study (“ DMFS”) accelerates process to select and engage suitable consultants for Feasibility Study on Rukwa Power Plant
  • Discussions in progress to finalize Heads of Terms (HOT) for power purchase, coal sale and grid connection agreements
  • Base case supports a 300MW coal fired power plant over an initial 20 year life and beyond
  • Phase 1, Stage 1 of the DMFS slightly ahead of schedule
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Imweru Project Results

Interpretation and Evaluation of Imweru Exploration Results Delivers Further Strategic Options for Development of Imweru

Highlights
  • Near term production may be possible from Imweru, subject to required feasibility work, and mine planning
  • Imweru holds sufficient existing JORC compliant gold resources to support production
  • Confidence that additional exploration will add to the resource inventory
  • Mineralisation appears suitable for traditional processing methodologies
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Results of AGM & Completion of Placing of 14 July

Results of Annual General Meeting and Completion of Placing announced on 14 July 2014

Shareholders are advised that the Annual General Meeting of Kibo Mining plc (“Kibo”) held yesterday was attended in person and by proxy by shareholders holding approximately 21% of the shares in Kibo.

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Commencement of RCPP Definitive Mining Feasibility Study

Kibo Announces Commencement of Rukwa Coal to Power Project (“RCPP”) Definitive Mining Feasibility Study

  • Kibo appoints Minxcon Projects to conduct RCPP definitive mining feasibility study (“DMFS”)
  • RCPP DMFS to commence immediately with Stage 1
  • Stage 1 of DMFS to be completed by November 2014.
  • Integrated RCPP feasibility study commences simultaneously
  • In principle agreement on Joint Development Partnership for RCPP
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Kibo Mining Plc Share Placing

Kibo Mining oversubscribed, raising £600,000 in Share Placing
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to announce it has received commitments to a share placing of 34,285,714 new ordinary shares of Eur. 0.015 in the capital of the Company with clients of Kibo’s UK Broker, Hume Capital Securities Plc, at a placing price of 1.75p per share (the “Placing Shares”), to raise gross proceeds of £600,000 before expenses (the “Placing”). All of Kibo’s directors are participating in the Placing for a cumulative amount of £100,000, and will be participating on the same terms as other investors. A subsequent announcement of their relevant changes in interests will be made once allocations have been finalised.

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Posting of 2013 Annual Report

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; JSE: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania is pleased to announce that its Annual Report has now been posted to Shareholders. The Annual Report is also available on the Company’s website and can be accessed on the following link Kibo Mining 2013 Annual Report. As previously announced, the Company’s 2014 AGM will take place at 11 a.m. on Wednesday 30 July 2014; at the Conrad Hotel, Earlsfort Terrace, St Stephen’s Green, Dublin 2, Ireland.

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Publication of Audited 2013 Financial Statemements & Notice of AGM

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; JSE: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania is pleased to announce that its full audited 12 month financial results for the period ending 31 December 2013 are now available on its website and can be accessed on the following link Kibo Mining 2013 Annual Financial Statements. The Company’s Annual Report, which contains these financial statements and Notice of AGM, is in the process of being printed and will be mailed to shareholders on or before the 4th July 2014. The Company’s 2014 AGM will take place at 11 a.m. on Wednesday 30 July 2014 at the Conrad Hotel, Earlsfort Terrace, St Stephen’s Green, Dublin 2, Ireland.

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12 Month Audited Financial Results for Period Ending 31 December 2013

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania is pleased to announce its audited 12 month financial results for the period ending 31 December 2013. The Company’s Annual Report, which contains the full financial statements accompanying this announcement, is in the process of being printed and mailed to shareholders. A copy of this Annual Report will also be available from the Company’s website at www.kibomining.com. Details of the date and venue for this year’s AGM, which will take place towards the end of July, will be announced shortly.

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Kibo Mining to Present at UK Investor Show & Advice of Company Registered Address

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to confirm that it will be exhibiting and presenting at the UK Investor Show being held at the Queen Elizabeth II Conference Centre in London, on Saturday 5th April 2014. Details on the Investor Show can be found on the organiser’s website: http: //www.geiicc.co.uk. Kibo will have a stand at Stand W32, Whittle Room.

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Kibo Mining raises £750,000 in Share Placing

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to announce it has received commitments to a share placing of 30,038,000 new ordinary shares of Eur. 0.015 in the capital of the Company with clients of Kibo’s UK Broker, Hume Capital Securities Plc at a placing price of 2.5p per share (the “Placing Shares”), to raise gross proceeds of £750,950 before expenses (the “Placing”). The funds raised will primarily be used to initiate a Phase 2 drilling programme at its Imweru gold exploration property in Tanzania as well as for general working capital purposes.

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Technical Report Confirms Haneti Nickel, PGM and Lithium Target

Kibo Mining plc (“Kibo” or the “Company”) the Tanzania focussed mineral exploration and development company is  pleased  to  announce  it  has identified a  30km  strike of nickel-platinum  prospectivity  at  Haneti following receipt of a comprehensive technical report covering full historical exploration and technical data from the Haneti project.

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Technical Report on the Imweru Gold Project Confirms Resource Upside Potential

Highlights
  • Independent JORC-compliant resource report on the Imweru Gold Project received
  • Report includes a revised JORC-compliant resource estimate reflecting recent drilling results and updated economic and geologic factors
  • Significantly improved confidence in the geological model and the resource base
  • Confirmation of potential expansion of resource base through further drill programmes
  • High priority drill targets identified on regional ground holding
  • Recommended two phase work program incorporating further resource definition drilling, testing of the priority regional targets and preliminary scoping study work
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Appointment of Director

Kibo is pleased to announce that its Board of Directors (“the Board”) has approved the appointment of Mr. Andreas Lianos (“Andrew”) as an Executive Director of the Company.

The appointment is effective from 1 March 2014 and a brief CV of Andreas Lianos is set out below:

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Kibo Mining plc – Shareholder Update Financial Year 2013/14

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the diversified mineral exploration and development company, developing an advanced stage coal resource and coal fired power plant in Tanzania, alongside fully owned gold, nickel, and uranium projects, is pleased to provide the comprehensive Shareholder Update below.

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Kibo Mining plc – Positive Drilling Results From The Imweru Gold Project

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; JSE AltX: KBO) the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania is pleased to announce that it has now received all Phase 1 drilling results from its Imweru project, located in the Lake Victoria Goldfields of northern Tanzania. The drill programme which was completed in late November 2013, comprised 21 drill holes for a combined total of 3,265 m of reverse circulation (RC) and diamond drilling (DD).

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Distribution of Shareholding by Major Shareholder

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; JSE: KBO), the mineral exploration and  development  company  focused  on coal, gold,  nickel,  and  uranium  projects  in  Tanzania, announces that its largest shareholder, Mzuri Capital Group Ltd (“MCG”) has advised that it has distributed its entire shareholding in the Company on an in specie basis to its 26 shareholders. As a result, MCG’s holding in the issued ordinary share capital of the Company has decreased from approximately 11.5% to 0%.

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Haneti Nickel and Imweru Gold Projects Update

Haneti
  • Soil sampling results provide infill coverage and better resolve anomalous nickel and nickel indicator element trends with nickel values up to 10,000 ppm (1%)
  • Recently mapped new ultramafic occurrences show similar anomalous soil geochemistry to main Haneti trend with nickel values up to 6,850 ppm
  • Confirmation of high coincidental nickel, PGMs and related elements at Mihanza Hill in outcrop including 10,000 ppm (1%) nickel, 0.5 ppm platinum and1.3 ppm palladium
  • Expanded geological database supports next phase of project, which will include drilling of initial targets
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Kibo Re-acquires 100% interest in Haneti Joint Venture

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; JSE AltX: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, announces that it has moved back to having a 100% interest in the Haneti nickel-PGM project, after Votorantim Metaís Participações Ltda (Votorantim) opted out of the joint venture with Kibo, through which it was earning into the Haneti project by funding exploration work. Votorantim’s decision followed a strategic review of its Southern Africa exploration operations.

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Imweru Drilling Completed Ahead of Schedule

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce it has completed the Imweru Drill programme in the Lake Victoria Region, Tanzania.

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Kibo Commences 3,000 metre Drill Programme at Imweru

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce that it has commenced a 3,000 m drill programme at its Imweru project in northern Tanzania. The project is located in the gold prolific Lake Victoria Goldfield and is situated approximately 35 km west of and along strike of AngloGold Ashanti’s world class Geita deposits which have an estimated pre-mining gold endowment of ~ 23 M oz @ 4g/t.

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Kibo Issues of Shares for Cash

Kibo  Mining  plc  (“Kibo”  or  the  “Company”)  (AIM:  KIBO;  AltX:  KBO),  the  mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce that it has issued2 356 548 new ordinary shares of Eur0.015 (“Ordinary  Shares”)  at  5p  per  share  (the  “Placing  Shares”)  for  cash,  to  settle  all  currently outstanding creditors. With the issue of these shares the board is pleased to announce that the Company has no outstanding debt or creditors.

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Kibo Raises Further £500,000 in Secondary Placement

Kibo  Mining  plc  (“Kibo”  or  the  “Company”)  (AIM:  KIBO;  AltX:  KBO),  the  mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce that following further  significant institutional demand for the  Company’s shares it has raised an additional GBP500,000, before expenses, through the issue of  10,000,000  new  ordinary  shares  of  Eur0.015  (“Ordinary  Shares”)  at  5p  per  share  (the “Placing Shares”) via its UK broker, XCAP Securities plc.

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Haneti Joint Venture Project Update: First Laboratory Results

  • New Ni-PGM prospective ultramafic outcrops identified
  • Preliminary soil samples results confirm Mihanza and Mwaka as initial priority drill targets
  • Regional programme identified new ultramafic occurrences
  • Initial soil sampling programme completed ahead of schedule
  • Follow up soil sampling completed over new target areas identified from geological mapping
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Kibo raises £1,105,000 in Share Placing

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to announce that it has received commitments to a share placing of 22,100,000 new ordinary shares of Eur0.015 in the capital of the Company with clients of Kibo’s UK Broker, XCAP Securities plc at a placing price of 5p per share (the “Placing Shares”) to raise gross proceeds of £1,105,000 before expenses (the “Placing”). The funds raised will be applied towards the Company’s exploration programmes in Tanzania and for general working capital purposes.

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Consolidated Lake Victoria Exploration Portfolio Includes Resource of 797 900 Ounces

Kibo Announces new Consolidated Lake Victoria Gold Exploration Portfolio which includes a Gold Resource of 797 900 Ounces

 

  • First phase consolidation of Lake Victoria Exploration Portfolio completed, encompassing relinquishment  of  less  prospective  areas  and  opportunistic  acquisition  of  selected  new project areas with significant known mineralized structures.
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Change in UK Broking Arrangements

Kibo Mining Plc (the “Company”) wishes to advise that Northland Capital Partners Limited (“Northland”)  will  no  longer  act  as  joint  broker  to the  Company  effective  immediately. XCAP  Securities  plc  is now   the  Company’s  sole  corporate  broker  under  AIM  Rules.  The Company wishes to thank Northland for the assistance it has provided the Company over the last 14 months.

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MOU Signed with Korean East West Power

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with Korean East-West Power Co. Ltd (“EWP”) on the Rukwa Coal to Power Project.

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Kibo Mining plc 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.

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Kibo Mining 15 months results for the period ended 31 December 2012

Kibo Mining plc (“Kibo” or the “Company” (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on gold nickel, coal and uranium projects in Tanzania is pleased to announce its audited 15 month financial results for the period ending 31 December 2012. The Company’s Annual Report, which contains the financial statements accompanying this announcement, is in the process of being printed and mailed to shareholders. Details of the date and venue for this year’s AGM, which will take place towards the end of July, will be announced shortly.

Louis Coetzee, CEO of the Company, commented today:

“These audited accounts show an increase in our issued share capital following an equity investment by Mzuri Gold Limited in February 2012, the acquisitions of Mzuri Energy Limited and Mayborn Investments (Pty) Limited completed in October 2012 and set up costs settled by equity in relation to our SEDA with Yorkville, also in October 2012. The Mzuri Energy and Mayborn acquisitions are particularly pleasing as they provide us with a large thermal coal resource on which we are now actively negotiating with multi-national state owned Korean East-West Power on the terms for their joint participation in the development of a mouth-of-mine thermal power plant”.

Highlights from the Chairman, Christian Schaffalitzky’s statement:

• Completion of a 100% acquisition of Mzuri Gold Limited and Mayborn Resources Limited which re-position Kibo as a major multi-commodity mineral explorer and developer in Tanzania;
• Completion of a JV agreement with Brazilian industrial conglomerate Votorantim on the Haneti project and the commencement of a £0.5m field programme being the initial tranche of a proposed £2.7M expenditure by Votorantim to acquire a 50% interest in the project;
• Securing of Tanzanian Government support for the Rukwa Coal to Power project and the commencement of negotiations with Korean East-West Power to participate as a partner in the development;
• Prioritisation of the Rukwa and Haneti projects, deferral of exploration on the Company’s other projects and on-going rationalization of its large early stage mineral licence portfolio.

Chairman’s Statement

Dear Shareholder,

I am pleased to report that your Company has made significant progress during 2012 on both the corporate and exploration fronts. In April 2012 we announced the acquisition of two private companies, Mzuri Energy Ltd and Mayborn Resource Investments (Pty) Limited. These acquisitions required the suspension of our shares on AIM and the JSE on the 11th May 2012, re-admission on the 15th August 2012 and approval by Shareholders at EGM on the 6th September 2012. The transaction was formally completed on the 1st October 2012 and brings to your Company substantial coal and uranium assets which complement our existing gold and base metal projects. Kibo is now positioned as a major multi-commodity mineral explorer and developer in Tanzania. The transaction was accompanied by changes on our Board with the resignation of William Payne and Des Burke (Des resigned in January 2013) and the appointment of Cecil Bond and Bernard Poznanski. I wish to thank William and Des for their valuable contribution to Kibo during their directorships.

Exploration

Exploration on our Tanzanian mineral projects continued throughout the 15 month reporting period commencing with the implementation of a Stage 1 exploration programme in the last quarter of 2011 and continuing throughout 2012. Our exploration teams have now defined trenching and drill targets at the Lake Victoria, Haneti and Morogoro projects. I am particularly pleased that our Haneti NiPGM-Gold project has attracted the attention of major Brazilian industrial group, Votorantim Metaís Participações Ltda (“Votorantim”), resulting in our announcement of a Joint Venture on the 12 December 2012. The joint venture provides an option for Votorantim to expend GBP 2.7 million on exploration over a three-year period to earn a 50% interest in the project and I am glad to report that as I write (June 2013), our field team in conjunction with Votorantim have commenced field operations. A budget of £0.5M will be expended at Haneti during the remainder 2013.

Equally encouraging is the recent inclusion of the Company’s Rukwa Coal to Power Project (“Rukwa”) as a strategic component of the Tanzanian Government’s National Energy Strategy and its commitment to proactively support development of the infrastructure to support the project. Securing Tanzanian Government support for the project has been a major milestone in our development path and this has increased the level of interest from third parties wishing to become partners in the project. Therefore, the Company’s announcement on the 24th April 2013 that it has selected Korean East West Power Co. Ltd (“EWP”), a globally operating power company owned by the South Korean Government, as its preferred development partner at Rukwa is another major step. The board looks forward to negotiating a definitive partnership agreement with EWP to the benefit of all stakeholders, not least for Tanzania for which Rukwa should make a valuable contribution towards addressing the country’s future energy needs.

In order to best manage its resources for 2013, your Company has prioritised the Rukwa and Haneti projects and is deferring any significant exploration work at Lake Victoria, Morogoro and Pinewood to 2014. A Scoping Study at Rukwa will commence during the second half of 2013 which will run in parallel with completing a full strategic partnership agreement with EWP. Exploration at Haneti, fully funded by Votorantim, will continue for the remainder of 2013 and it is planned to commence initial drilling at the project later in 2013 or early in 2014. As a further measure to reduce costs and focus on priority areas, the Board has recently elected to relinquish almost 50% of its grass roots exploration interests (includes licences, offers and applications) across all projects save for Rukwa. The majority of this ground comprises early stage licence applications considered by Company geologists as low priority from desktop and field assessments. This need for the Company to implement this reduction in our licence portfolio results both from recent substantial increases in licence rental costs in Tanzania and the imperative to focus resources on priority areas which offer the greatest chance of exploration success.

Corporate

The financial accounts cover the 15-month period to the 31 December 2012. This follows our decision to change the Company’s financial year end from 30 September to 31 December and so align it with the calendar year and with the financial year ends of the Group’s non-Irish subsidiaries. The challenging global economic conditions and turbulent markets of 2011 continued into 2012, making it a difficult year for the exploration and mining sector. Junior exploration companies found it particularly difficult to raise equity funds and had to accept funding at severely discounted prices or through alternative funding methods, all of which contributed to significant shareholder dilution and value erosion in many instances. Unfortunately, Kibo was not immune to this adverse macroeconomic environment and we saw a decline in our share price during the year to levels that we do not believe reflect the inherent value in our mineral assets. Consequently, we found it increasingly difficult throughout 2012 to raise funds for our exploration and development programmes to match our ambitious implementation schedule. However, we are fortunate to have the support of our largest shareholder, Mzuri Capital Group Limited, which fully subscribed to a £750,000 Placing in February 2012. This allowed us to implement first stage exploration programmes over our substantial Tanzanian mineral licence portfolio over the reporting period. Broker sponsored placings of £750,000 in January 2013 and £780,000 in April 2013, together with funds of £50,000 drawn downs
under our SEDA agreement with Yorkville Advisors, are allowing us to continue advancing both our near-term corporate and exploration objectives in the early part of 2013, albeit at a slower pace that we had planned.

In conclusion, while acknowledging the challenging economic environment in which your company now operates, I remain confident that our mineral assets present an attractive investment option, particularly bolstered by our 109 million tonne Rukwa coal deposit and plans to develop a mouth of mine thermal coal plant. I would like to thank our shareholders for their continued support as we strive to bring this project to fruition. Also I would like to thank our CEO, Louis Coetzee and his management team for their substantial work in successfully completing our corporate acquisitions during 2012 while simultaneously keeping field exploration moving forward. Louis now has the challenging task of leading the team in realising value across all our commodity streams in 2013 and beyond.

Christian Schaffalitzky
Chairman

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Kibo Mining plc – Projects Update

  • Scoping study about to commence on the Rukwa Coal Project to establish economic and technical parameters for the proposed coal to power project with continued support from the Tanzanian Government
  • Field team mobilising to Haneti funded by JV partner Votorantim
  • Rationalisation of grass-roots exploration ground to focus on priority target areas and reduce licence fees
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Kibo Mining plc – Issue of shares for Cash

Kibo  Mining  plc  (“Kibo”  or  the  “Company”)  announces that  pursuant  to  the  previously announced standby equity distribution agreement (“SEDA”) dated 14 August 2012 between the  Company  and  YA  Global  Master  SPV  Ltd  (“YA  Global”)  the  Company  has  issued 1,067,174 ordinary shares of €0.015 each in the capital of the Company (the “Shares”) at an issue price of 5.073p to YA Global. These Shares are being issued under the terms of a loan and special advance under the SEDA established by aLetter of Agreement dated 2nd April 2013.

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Korean Power Company To Participate in Rukwa Coal to Power Project & Placing for £780,000

Korean Government Owned Power Company To Participate in Kibo’s Rukwa Coal to Power Project & Placing for £780,000

The board of Kibo Mining Plc (“Kibo” or the “Company”) is pleased to report that, pursuant to the decision by the Tanzanian Government to include the Company’s Rukwa Coal to Power Project as a key component of the Tanzanian National Energy Strategy (“NES”), it has now concluded its selection of Korean East-West Power Co. Ltd (“EWP”) as the preferred strategic participant in the Rukwa Coal to Power Project and negotiations are currently under way towards finalizing a formal joint venture agreement between the parties.

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Kibo commences work at Haneti Nickel with Votorantim

Kibo commences with work program on Haneti Nickel JV with Brazilian major Votorantim

All conditions precedent for Kibo’s joint venture agreement with major Brazilian industrial conglomerate Votorantim Metaís Participações Ltda for the further exploration of its Haneti Nickel Project have been fulfilled.

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Finweek (Leading South African Business Magazine) report on Rukwa Coal to Power project

For all the problems attached to Eskom these days, thermal coal supply to the utility is still considered a good business proposition. That’s a view partly based on the fact that Eskom is willing to pay better prices than in the past for thermal coal supplied to it owing to the competition provided by offshore buyers, such as the Indian utilities.

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Kibo EGM Results 22 March 2013 RNS

Results of EGM and Capital Reorganisation Details

Kibo Mining plc (AIM: KIBO), (JSE: KBO) (“Kibo” or the “Company”), the Tanzania focused mineral exploration and development company, is pleased to announce that all resolutions at its Extraordinary General Meeting held today were approved by shareholders.

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Kibo EGM Results 22 March 2013 SENS

Results of EGM and Capital Reorganisation Details

Kibo Mining plc (AIM: KIBO), (JSE: KBO) (“Kibo” or the “Company”), the Tanzania focused mineral exploration and development company, is pleased to announce that all resolutions at its Extraordinary General Meeting held today were approved by shareholders.

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Kibo Mining plc – Capital Reorganisation and Issue of Equity

Kibo Mining plc (AIM: KIBO), (JSE: KBO) (“Kibo” or the “Company”), the Tanzania focused mineral exploration and development company, is pleased to announce:

1) The raising of gross proceeds of €160,994 through the placing of 16,099,466 new ordinary shares in the Company (“Shares”) at a placing price of €0.01 per share, together with 16,099,466 free attached warrants to subscribe for one further share in the Company at a price of €0.01 any time on or before 11 February 2014 (“Warrants”) (the “Placing”);

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Kibo Mining plc – Appointment of XCAP as new joint Corporate Broker

Kibo Mining plc (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce the appointment of XCAP Securities plc (“XCAP”) as the Company’s new joint Corporate Broker, with immediate effect. XCAP will not only fulfil the role as joint broker but will also act lead broker for as long as Kibo maintains a joint broker status.

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Kibo Mining plc – Invitation from Tanzanian Government to present Rukwa Power Project Details

The board of Kibo Mining Plc (the “Company”) wishes to advise that it has received a formal invitation dated 13 February 2013 from the Ministryof Energy and Minerals (“MEM”) to present and discuss details pertaining to its Rukwa Coal toPower Project. The presentation will take place on 22 February 2013 and will also be attended by the Tanzanian Electricity Supply Commission
(“TANESCO”).

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Kibo Mining plc – Change in UK Broking Arrangements

Kibo Mining Plc (the “Company”) wishes to advise that in order to simplify its UK broking arrangements, Northland Capital Partners Limited (“Northland”) will act as sole UK broker to the Company forthwith. Cornhill Capital Limited (“Cornhill”), will no longer be retained as a joint broker alongside Northland. The Company wishes to thank Cornhill for the assistance it has provided the Company over the last 2 years.

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Kibo Mining plc – Retirement of Director

Kibo Mining plc advises that Mr Des Burke will retire as a Director of the Company on the 31 st January 2013. Mr Burke has informed the Company that his decision coincides with his retirement plans from the mining industry in order to pursue other interests.

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Kibo Mining plc – Issue of Shares

Further to its release on 9 January 2013, Kibo Mining Plc (the “Company”) is pleased to advise that it has issued 120,833,333 new ordinary shares to replace the same number of shares that were borrowed from its major shareholder, Mzuri Capital Group Ltd in order to facilitate a share placement.

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Kibo Mining plc – Kibo raises £725,000 of working capital

Kibo Mining plc (“Kibo” or the “Company”)  is pleased to announce  that  it has  completed  a placing  of  120,833,333  ordinary  shares  in  the  capital  of  the  Company  (the  “Shares”)  with clients  of  Kibo’s  UK  Broker,  Northland  Capital  Partners  Ltd.  at  a  placing  price  of  0.6p  to raise gross proceeds of £725,000  (the “Placing”). The funds raised will be applied towards the  Company’s  exploration  programs  in Tanzania, to  investigate  further  joint  venture opportunities and for general working capital purposes.

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Kibo Mining plc – Shareholder and Trading Update, Change of Year End

• Completion of the 100% acquisition of Mzuri Gold Limited and Mayborn Resources Limited which re-position Kibo as a major multi-commodity mineral explorer and developer in Tanzania;

• Negotiation of JV Agreement with Asian Conglomerate progressing well based on a renegotiated MOU which will see Kibo assume full operational control for the Rukwa coal development;

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Kibo Mining plc – Exploration Update 14 November 2012

Significant Anomaly Identified at Morogoro South Project
Dated: 14  November 2012

Kibo  Mining  plc  (“Kibo”  or  the  “Company”)  (AIM:  KIBO,  AltX:  KBO)  the  multi commodity  exploration  and  development  company  focused  on  Tanzania,  is  pleased  to provide  an  exploration  update.   The  Company  has  received  results  from  its  infill  soil  and stream sediment sampling at the Morogoro North and Morogoro South projects in central and south eastern Tanzania.

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Kibo Mining plc – Issue of Shares 18 October 2012

Kibo Mining plc (“Kibo” or the “Company”) announces that pursuant to the previously announced standby equity distribution agreement (“SEDA”) dated 14 August 2012 between the Company and YA Global Master SPV Ltd (“YA Global”) the Company has issued 4,427,931 ordinary shares of €0.01 each in the capital of the Company (the “Shares”) at an issue price of 1.28446p to YA Global. These Shares have been issued as payment of £56,875 representing a proportion of the implementation feedue under the SEDA to YA Global and will rank pari passu with the Company’s existing issued Ordinary Shares.

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Kibo Mining plc – Operational Update 21 June 2012

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO, AltX: KBO) the mineral exploration and development company focused on gold, nickel, coal and uranium projects in Tanzania, is pleased to provide an operations update. The Company has received final results from its Stage 1 exploration programme at its Lake Victoria, Haneti amd Morogoro projects which it implemented over the period October 2011 to March 2012. The results highlights are shown below and discussed in detail later in this announcement.

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Kibo MIning plc – Mzuri Coal signs MOU for Tanzanian mine mouth development on Rukwa coal

Memorandum of Understanding for Tanzanian Mine Mouth Power Station signed by Mzuri Coal
Shareholders are advised that the Company has been informed by Mzuri Energy Limited (“MZURI”) that MZURI has entered into material negotiations in relation to its main asset, the Rukwa coal project, as more fully explained
below.

* Mzuri Coal Limited signs Memorandum of Understanding to pursue the development of a mine mouth power station at its Rukwa Project with large Asian global conglomerate.

Dated: 15 May 2012

As set out in its announcement on 2 April 2012, Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, has, subject to various required statutory and shareholder approvals, agreed to acquire control of MZURI. Kibo is now pleased to report that Mzuri Coal Limited (“MCL”), a wholly owned subsidiary of MZURI, has agreed to record a Memorandum of Understanding (the “MOU”) with a large Asian Conglomerate (AC), to pursue negotiations forthwith with a view to entering into definitive agreements providing for the development of a mine and a 250-350 MW mine mouth coal fired power station on MCL’s Rukwa Coal Project (“Rukwa Power Project”) near Mbeya as soon as practicable (the “Development Agreements”).

Proposed Transaction Framework

The Development Agreements, if concluded and implemented, would provide for the the following salient elements:

* MCL would provide the AC with all available technical data and expertise to enable the AC to conduct a comprehensive feasibility study on the development of a Rukwa Power Project. If found feasible, MCL would develop a thermal coal mine and enter into a long term off-take agreement with the AC or its nominee to supply the Rukwa Power Project with coal sufficient for its requirements.

* The AC would undertake comprehensive technical, financial and commercial feasibility studies in respect of the Rukwa Power Project. If found to be feasible, The AC would procure all required approvals and permits for the construction, commissioning and operation thereof and design, build and operate a mine mouth coal fired power plant on the Rukwa Power Project.

* The AC would procure an Independent Power Producer (“IPP”) license from the Electricity and Water Utility Regulatory Agency of Ta nzania (“EWURA”) and a Power Purchase Agreement (“PPA”) from the Tanzanian National Electricity Supply Company (“TANESCO”).

* The parties would have the opportunity to co-invest reciprocally in the equity of the mine and the power plant respectively on terms to be agreed between them.

Rationale

Commenting on the MOU, Kibo CEO Louis Coetzee said:

“This development once again highlights Tanzania as an African investment destination of preference for major international industrial groups. It also validates Kibo’s decision to focus its resources and skills here, and to take the bold step to acquire a progressive explorer and developer like Mzuri that has developed a track record of meaningful engagement and value creation in the region over time through multilateral collaborative relationships.”

Mzuri chairman Tinus Maree added:

“This relationship could provide an excellent platform for Mzuri to expedite the development of some of its more advanced energy assets to the benefit of the participants’ respective shareholders and, equally importantly, to the people of Tanzania. There is a clear imperative to develop strategic infrastructure projects as catalysts to broader regional economic development in other sectors the region, and we are keen to participate in these endeavours from within the enlarged Kibo team”

Enquiries:
Louis Coetzee +27 (0)83 2606126 Kibo Mining plc Chief Executive Officer
Stuart Laing +61 8 9480 2506 RFC Ambrian
Limited
Nominated Adviser
Andreas Lianos +27 (0)83 4408365 River Group Corporate Adviser and Designated Adviser (AltX)
Nick Bealer +44 (0)207 710 9612 Cornhill Capital Ltd Broker (Corporate Broking)
Matt Beale +44 (0)7966 389 196 Fortbridge Public Relations

 

General Background & Strategy

Kibo is a public company registered in Ireland (company number 451931). Its registered office is Kibo Mining plc, Suite 3, One Earlsfort Centre, Lower Hatch Street, Dublin 2, Ireland. Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania, East Africa and was admitted to AIM on 27 April 2010 and AltX in South Africa 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 three existing and two newly acquired projects in Tanzania – Haneti (nickel, PGE and gold), Morogoro (Gold) and Lake Victoria (Gold) which give Kibo access to over 18,000 sq. km of early stage exploration licences in Tanzania’s premier gold mining region, the Lake Victoria Goldfield and within the newly emerging gold exploration regions in eastern Tanzania. The Company has recently also acquired, subject to certain suspensive closing conditions and approvals, coal and uranium exploration projects as publicly announced on 2 April 2012 in accordance with its multi-commodity exploration strategy.

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.

London
15 May 2012

Corporate and Designated Advisor
River Group

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Kibo Mining plc – Suspension of trading in Company’s shares on AIM

Proposed acquisition of Mzuri Energy Limited and Mayborn Resources Investments (Pty) Ltd

The Directors of Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO) the mineral exploration and development company in Tanzania have, in accordance with AIM Rule 14, requested the London Stock Exchange to suspend trading in the Company’s share on AIM with immediate effect pending publication of the admission document in respect of the acquisition of Mzuri Energy Limited and Mayborn Resources Investments (Pty) Ltd.

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Kibo Mining plc – Appointment of RFC Ambrian as NOMAD

KIBO APPOINTS RFC AMBRIAN AS NOMINATED ADVISER (NOMAD)
Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO), (JSE: KBO), the Tanzania focused mineral exploration and development company, is pleased to announce the appointment of RFC Ambrian Limited (“RFC Ambrian”) as the Company’s AIM market Nominated Adviser with immediate effect.

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Kibo Mining plc – Memo of Understanding on Haneti Nickel Project

DETAILED CAUTIONARY ANNOUNCEMENT
Shareholders are advised that the Company has entered into negotiations as more fully explained below, which if successfully concluded may have a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made.

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Kibo Mining Re-scheduling of AGM

Kibo  Mining  plc  (“Kibo”  or  the  “Company”)  (AIM:  KIBO;  AltX:  KBO),  the  Tanzania focused  mineral  exploration  and  development  company,  proposes  to  adjourn  its  Annual General Meeting scheduled for 3 p.m. on Friday,  27th April  2012 at the Hotel Meyrick, Eyre Square, Galway, Ireland to 2 p.m. on Thursday, 31st May 2012 at the same venue.

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Kibo acquires Coal Assets

Acquisition of controlling interests in strategic energy assets in Tanzania
• Kibo to acquire control of a JORC compliant 129mt thermal coal resource; and
• Kibo to acquire control of licenses prospective for uranium.
Dated: 2 April 2012

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Kibo Mining plc – Issue of Equity 07 Feb 2012

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the mineral exploration and development company focused on gold and nickel projects in Tanzania is pleased to announce that Mzuri Gold Limited (“Mzuri”) has today agreed to subscribe for a total of 37,500,000 new Ordinary Shares of €0.01 each in the capital of the Company at a placing price of 2p per new Ordinary Share to raise £750,000, before expenses (the “Placing”).

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Kibo Mining plc – Update Itetemia & Luhala

Kibo Mining plc (“Kibo” or the “Company”) (AIM, KIBO: JSE, KBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania, announces that it has decided to withdraw from the Option and Royalty Agreement between Tanzanian Royalty Exploration Corporation Limited (“TREC”) and Kibo’s wholly owned subsidiary, Sloane Developments Limited, dated 25 January 2007(the “Agreement”).

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Kibo Management Changes 4 November 2011

Kibo Mining plc (“Kibo” or the “Company”) (AIM, KIBO: JSE, KBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania announces changes in management to optimize its business over the coming months.

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Kibo Mining plc Operations Update 7 October 2011

Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO, AltX: KBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania, is pleased to provide an operations update. The Company has more than doubled its licence area in Tanzania to over 18,000 square kilometres in the last six months gaining a strategic position in both the Lake Victoria Goldfields and the emerging gold districts of eastern Tanzania.

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Tanzanian exploration injection

AIM-listed junior exploration company Kibo Mining recently expanded its African visibility with a JSE listing. The explorer hopes to bring to account at least one of its advanced gold exploration projects in Tanzania over the next two years, MD Noel O’Keeffe tells Nelendhre Moodley.

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AIM Share Price
(Ticker: KIBO)
5.10p Change -0.15p
at close on 21 Oct 2017

JSE Share Price
(Ticker: KBO)
110.00c Change 0.00c
at close on 21 Oct 2017

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