Kibo Mining (LON:KIBO) is set for a cash boost and shortly receive placing monies held in accounts of bust stockbroker Hume Capital, it said.
The firm will receive substantially all of the £526,000 still owed to it, the firm said, and the cash will be distributed by October 2 this year at the earliest but no later than within two months from that date.
It comes following a court order on August 10 approving the distribution procedure.
Kibo understands that substantially all of the £526,000 - the consideration for 10.52mln shares, which were to be issued to third party investors, and which was paid into Hume Capital's client money account, will be released to Kibo, less costs of the administration.
Kibo chief executive Louis Coetzee told investors: "We are pleased that all uncertainty related to the February Hume placing has now been removed.
"Kibo will receive substantially all of the £526,000 still owed to the Company and this will have a significantly positive impact on the company's cash position."
Shares added almost 3% to stand at 4.375p.