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EPIC: KIBO
Market: AIM:KIBO
52-week High/Low: 7.38p / 3.90p
Sector: Mining
Market Cap: 25.77M
Kibo Mining PLC (LON:KIBO)

Kibo Mining PLC

Kibo Mining plc (“Kibo” or the “Company”) is a Tanzania-based minerals exploration and development company, focused on realising value from the Mbeya Coal to Power Project (MCPP) (formerly known as Rukwa Coal to Power Project) and the Imweru gold project, as well as holding one of the largest exploration land packages in the country with assets spanning coal, gold, uranium and...

Kibo Mining PLC

www.kibomining.com

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Big picture - Why invest in Kibo Mining PLC


Kibo Mining PLC Snapshot

Kibo Mining plc (“Kibo” or the “Company”) is a Tanzania-based minerals exploration and development company, focused on realising value from the Mbeya Coal to Power Project (MCPP) (formerly known as Rukwa Coal to Power Project) and the Imweru gold project, as well as holding one of the largest exploration land packages in the country with assets spanning coal, gold, uranium and nickel-platinum group metals.

Kibo’s strategy for Mbeya is closely aligned with the interests of the Tanzanian government, which has an urgent requirement for new sources of power to support its rapid growth. We will leverage our expertise and existing stakeholder relationships – technical, financial and governmental – to advance Mbeya through to production and power generation. Important steps on this development path were realised during 2014 with the  commencement of a Definitive Feasibility Study (DFS) on the project and the completion of preliminary DFS  technical and financial reports, the results from which were very favourable to a successful development.

The Imweru gold project is the most advanced project within the Company’s regional Lake Victoria Project mineral licence portfolio located in this proven gold prospective region of northern Tanzania where a number of operating gold mines are in production. Imweru comprises a 515,110 oz JORC-compliant gold  Mineral Resource on which  Kibo has begun a Definitive Mining Feasibility Study (DMFS).  The first stage of this DMFS, a Preliminary Economic Assessment (“PEA”) was completed in December 2014 by  mining consultants, Minxcon of South Africa. The results of the PEA have provided independent preliminary confirmation of the  economic feasibility of developing a  gold mine at Imweru from the current Mineral Resource and of further extending the base case  mine life by delineation of additional gold resources for which excellent potential exists. The Company is now on a development path to put Imweru into production and realize early cash flow for which the results of  high level economic modelling to date have been very positive.

Kibo’s diversified asset portfolio gives investors exposure to short-term, medium-term and long-term returns and provides the Company with options in terms of developing assets internally, joint-venturing or realising value through asset disposals on attractive terms.

Projects

MBEYA COAL TO POWER

Main Target Coal
Location Songwe Region, Tanzania
Area ~2,000 sq. km
Kibo’s Interest 97.5%
Main Prospect Rukwa thermal coal deposit
Resource 121 Mt (20.9 Mt, 88.6 Mt Indicated, 11.3 Mt Inferred)
EPC Contractor (Power Station) SEPCO III, China based international EPC contractor
Next Steps

Negotiate Power Purchase Agreement and achieve Financial Close

For more information click here 

 

 

 

 

Key Facts

Main Target Gold
Location Mwanza & Geita Regions
Area ~1,500 sq.km
Kibo’s Interest 57% in Katoro Gold PLC which holds the projects
Main Target Area  Imweru & Lubando 
Resource ~700,000 oz. Gold (Imweru & Lubando projects)
Next Steps • Complete Definitive Mining Feasibility Study (“DMFS”) at Imweru
• Drill gold targets on Sheba project ( project is contiguous with Imweru) as part of Imweru DMFS

For more information click here

 

HANETI (nickel and gold

Key Facts

Target Nickel, Platinum-Group-Elements and Gold
Location Dodoma Region, Tanzania
Area ~ 5,000 sq. km
Kibo’s Interest 100%
Main Target Areas Haneti-Itiso Ultramafic Complex & The Londoni Greenstone Belt
Resource None defined
Next Steps • Drilling of existing targets at Mwaka and Mihanza Hills 
• Development of further drill targets along the Haneti-Itiso Ultramafic Complex by geological mapping, soil geochemical surveys and geophysical surveys. 
• Reconnaissance investigation into the gold potential in the mid and western part of the Haneti (search for extensions of the Londoni Greenstone Belt)
• Further investigation of lithium and associated pegmatite related mineralisation on the project.

For more information click here

Board of Directors


Christian Schaffalitzky, BA (Mod), FIMMM, PGeo, CEng, age 61
Chairman (Non-Executive)

Christian Schaffalitzky is managing director of Eurasia Mining plc a company trading on AIM. From 1984 to 1992, he founded and managed the international minerals consultancy, CSA Group, now CSA Global Pty Ltd. With over 30 years’ experience in minerals exploration, Christian Schaffalitzky was a founder of Ivernia West plc, where he led the exploration and was instrumental in the discovery and development of the Lisheen zinc deposit in Ireland. More recently, he was managing director of Ennex International plc an Irish quoted mineral exploration company, focused on zinc development projects. He has also been engaged in precious and base metal mineral exploration and development in the former Soviet Union and is a former independent director on the boards of Russian companies, Raspadskaya Coal Company and Chelyabinsk Zinc.

 

Louis Coetzee, BA, MBA, Age 52
CEO (Executive)

Louis Coetzee has 25 years experience in business development, promotion and financing in both the public and private sector. In recent years he has concentrated on the exploration and mining area where he has founded, promoted and developed a number of junior mineral exploration companies based mainly on Tanzanian assets. Louis has tertiary qualifications in law and languages, project management, supply chain management and a MBA from Bond University (Australia) specializing in entrepreneurship and business planning and strategy. He has worked in various project management and business development roles mostly in the mining industry throughout his career. Between 2007 and 2009, Louis held the position of Vice-President, Business Development with Canadian listed Great Basin Gold (TSX: CBG).

 

Noel O’Keeffe, BSc (Hons), Geology, MBA, Age 52
Technical Director (Executive)

Noel O’Keeffe has over 20 years experience in mineral exploration and has worked on a variety of base metal and gold projects in Ireland, Canada, Australia and Africa. Prior to co-founding Kibo in 2008 he worked as a quality coordinator with Boston Scientific (Ireland) Ltd, a multinational medical device company. He also worked part-time for Irish geological services group, Aurum Exploration Ltd during 2003 and early 2004. During the mid nineties he was exploration manager with Ormonde Mining plc in Tanzania, a company currently listed on the Irish Stock Exchange and on AIM. Previously Noel was a senior geological consultant with BDA Consultants Limited and worked on both government and private sector contracts. Earlier in his career, Noel worked as a geologist for Burmin Exploration and Development plc and for its Canadian and Australian subsidiaries.

 

Lukas Marthinus Maree, BLC, LLB, Age 53
(Non-Executive)

Tinus Maree is a lawyer by profession. He has served on the boards of a number of public companies including Goldsource Mines Limited, Africo Resources Limited and Diamondworks Limited that have made significant successful investments in exploration projects in Africa and North America, and has more recently served as the CEO of private investment companies Rusaf Gold Limited and Mzuri Capital Group Limited, both of which have successfully developed and sold mineral projects in Russia and Tanzania in the last seven years. He was also a founder principal of River Group, Designated Advisors to the Listing of Kibo on the JSE, and was responsible for its Canadian office until his retirement from the group in 2013 to pursue personal interests.

 

Wenzel Kerremans, B.Proc, LLB, LLM, Adv. Dip. Age 57
(Non-Executive)

Wenzel Kerremans is a lawyer by profession with over 25 years international legal experience in mining, banking, project finance and international tax, advising clients who have invested in exploration and mining projects in Africa. He has also originated and succesfully sold Veremo Holdings Limited a billion ton titaneferous magnetite exploration project for the production of iron and titanium slag. Wenzel is also the principal and director of a gold, graphite and coal exploration project in Africa.

 

Andreas Lianos, CA, ACMA, CIA. Age 50
(Financial Director)

Andrew is a chartered accountant who entered the corporate finance industry in 1994 by joining Deloitte & Touche Corporate Finance. In 1996 he joined Smith Borkum Hare/Merrill Lynch Corporate Finance, and was part of the team that founded Labyrinth Corporate Finance during 1997. He co-founded the River Group, Kibo’s JSE Designated and Corporate Advisor and is a director of River Capital Partners Ltd and River Sponsor Services (Pty) Ltd (Trading as River Group). He is also currently a director of Boudica Trust Co Limited (trading as Boudica Group) and a director of Mzuri Exploration Services Ltd and Mzuri Capital Group Ltd (trading as Mzuri Group), which was the largest shareholder in Kibo until December 2013 when it distributed all its shares to its shareholders as reported to the market on 20 December 2013.

 

Significant Shareholders

On the basis of notifiable shareholdings declared to the company, at this time the following shareholders have declared a shareholding in excess of 3% of issued share capital.  All shareholder notifications with such declarations will be promptly announced to market.
Shareholder Name # of shares %
Sanderson Capital Partners Ltd &
Related Parties
26 777 994 6.77

 

 

Directors’ Shareholdings

Shareholder Name # of shares %
Louis Coetzee (& related parties) 8 065 996 1.86%
Christian Schaffalitzky (& related parties) 2 119 842 0.58%
Tinus Maree 2 934 200 0.81%
Noel O’Keeffe 3 591 447 0.91%
Wenzel Kerremans 376 241 0.10%
Andrew Lianos 7 588 633 1.92%
Total 27 686 273 7.0%

 

Operations Office Tanzania

10th floor, Amani Place,

Ohio Street, Dar es Salaam,

Tanzania

Tel: +255 22 2127857

Fax: +255 22 2126049

Email: [email protected]


Corporate Office  Ireland

Gray Office Park

Galway Retail Park

Headford Road

P.O. Box 421

Galway, Ireland

Tel: +353 91 511463

Fax: +353 91 450018

Email: [email protected]


Registered Office

17 Pembroke Street Upper

Dublin 2

Ireland D02 AT22

 

Media Contact

Contact Person: Hugo de Salis / Priit Piip

St. Brides Partners Ltd

Tel: +44 (0) 207236 1177

 

Company Advisers

 

Share Registrar (JSE)

 
Terbium Financial Services (formerly Trifecta)

31 Beacon Road
Florida North 1709
Johannesburg, South Africa

or P.O. Box 61272,
Marshalltown 2107
Johannesburg, South Africa

 

Share Registrar (UK & Ireland)

 
Capita Registrars (Ireland) Limited
2 Grand Canal Square
Dublin 2
D02 A342
 

UK Nominated Adviser

 
RFC Ambrian Limited
Level 28, QV1 Building
250 St Georges Terrace
Perth WA 6000
 

Broker

 
Beaufort Securities Ltd
131 Finsbury Pavement
London
EC2A 1NT
 

UK Public Relations

 
St. Brides Partners Ltd
3 St. Michael’s Alley
London
EC3V 9DS
 

JSE Designated Adviser

 
River Group
225 Veale Street
Brooklyn, Pretoria
Republic of South Africa
 

Auditors & Reporting

 
Saffery Champness
71 Queen Victoria Street,
London, 
EC4V 4BE
 

Solicitors – Irish law

 
OBH Partners
17 Pembroke Street Upper
Dublin 2
Ireland, D02 AT22
 

Solicitors – English law

 
Ronaldsons LLP
3rd Floor
55 Gower Street
London WC1E 6HQ

 

Kibo Mining PLC Timeline

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May 21 2018
RNS
May 21 2018

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