Kibo is an Irish registered company established in 2008 to focus on exploration and development of gold and nickel deposits in Tanzania. Its shares are quoted on the Alternative Investment Market (AIM) of the London Stock Exchange and on the AltX board of the JSE in South Africa.
On the 30th December 2010 the Company signed an Agreement with Mzuri Gold Limited (Mzuri Gold), part of Cyprus based Mzuri Capital Group Limited ( the Mzuri Group). The Agreement provides for a strategic investment by the Mzuri Group in Kibo, the acquisition by Kibo of a large portfolio of Tanzanian mineral rights and applications held by Mzuri Gold, and a dual listing of Kibo's shares on the Johannesburg Stock Exchange (JSE Limited). The terms of the Agreement were completed in June 2011.
On the 2nd April 2012, the Company entered a conditional Agreement for the all share acquisition of a minimum of 51% of private Canadian company, Mzuri Energy Ltd (MEL) and a minimum of 51% of private South African company Mayborn Resource Investments Ltd (Mayborn). MEL and Mayborn hold significant coal and uranium mineral assets in southern Tanzania which include the JORC-compliant 109 million tonne Rukwa coal project. Full details of the acquisition and re-admission of Kibo to AIM are outlined in the AIM Re-Admission document dated 15 August 2012 available on the Company Document section of the website.
On the 6th September 2012, following 100% acceptance from MEL and Mayborn shareholders for the acquisitions, Kibo shareholders approved the transaction at EGM.
Kibo now has access to one of the largest mineral right portfolios in Tanzania spanning gold, nickel, coal and uranium. Its projects are located both in the established and gold prolific Lake Victoria Goldfields, the newly emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania where the Tanzanian Government has prioritised infrastructural development attracting significant recent investment in coal and uranium.
For the most recent updates on Kibo and developments across all its projects by CEO Louis Coetzee, please refer to the webcast link on the Investor Relations section of the website.