Kibo Energy PLC

Regulatory Filings • Jun 29, 2018

National Storage Mechanism | Additional information

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RNS Number : 0208T

Kibo Mining Plc

29 June 2018

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: IE00B97C0C31

('Kibo' or 'the Company')

Dated: 29 June 2018

Kibo Mining Plc ('Kibo' or the 'Company')

Press Speculation

Kibo Mining plc (AIM: KIBO; AltX: KBO), the multi-asset Africa-focused energy and resource company, announces that, contrary to press speculation, its engagement with the Tanzania Electric Supply Company ('TANESCO') with regard to the development of the Mbeya Coal to Power Project ('MCPP') remains unchanged and the Company is continuing to advance its discussions with TANESCO regarding the Power Purchase Agreement ('PPA') for the 300MW MCPP. 

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").

For further information please visit www.kibomining.com or contact:

Louis Coetzee	info@kibomining.com	Kibo Mining Plc	Chief Executive Officer
Andreas Lianos	+27 (0) 83 4408365	River Group	Corporate and Designated Adviser on JSE
Ben Tadd / Tom Curran	+44 (0) 20 3700 0093	SVS Securities Limited	Joint Broker
Jon Belliss	+44 (0) 20 7399 9400	Novum Securities Ltd	Joint Broker
Andrew Thomson	+61 8 9480 2500	RFC Ambrian Limited	NOMAD on AIM
Isabel de Salis / Priit Piip	+44 (0) 20 7236 1177	St Brides Partners Ltd	Investor and Media Relations Adviser

Notes to editors

Kibo Energy plc is a multi-asset, Africa focussed, energy company positioned to address the acute power deficit, which is one of the primary impediments to economic development in Sub-Saharan Africa. To this end, it is the Company's objective to become a leading independent power producer in the region.

Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power Project ('MCPP') in Tanzania; the Mabesekwa Coal Independent Power Project ('MCIPP') in Botswana; and the Benga Independent Power Project ('BIPP') in Mozambique.  By developing these projects in parallel, the Company intends to leverage considerable economies of scale and timing in respect of strategic partnerships, procurement, equipment, human capital, execution capability / capacity and project finance.  Additionally, the Company will benefit from its robust and experienced international blue-chip partnership network across its project portfolio, which includes:  SEPCO III (China), General Electric (USA); Tractebel Engineering (Belgium); Minxcon Consulting (South Africa); ABSA / Barclays Africa); and Hogan Lovells International LLP.

Johannesburg

29 June 2018

Corporate and Designated Adviser

River Group

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