| Imweru Gold Project Update | |
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05 July 2016
Kibo Mining plc ('Kibo' or the 'Company') (AIM: KIBO; AltX: KBO), the Tanzania focused mineral exploration and development Company provides a further update to its announcement on June 2 on the Memorandum of Understanding ('MOU') signed with Lake Victoria Gold LTD ('Lake Victoria') to consolidate the companies' respective Imweru and Imwelo gold projects.
As a result of a minor unforeseen delay in completing compliance and legal work on the follow-on definitive agreement, which was anticipated to be in place by June 30 2016, the Company expects that this will now take a further two weeks to be finalized.
The Company wishes to advise that completion of this definitive agreement is progressing well and notwithstanding this minor delay, it looks forward to the potential value this transaction can unlock for Kibo shareholders.
Louis Coetzee, CEO of Kibo Mining, said: 'The definitive agreement is an administrative step in the process of completing the amalgamation of Kibo's Imweru and Lake Victoria's Imwelo projects. Kibo and Lake Victoria have made significant progress towards finalizing the transaction, and the delay referred to above will not have any impact on meeting the agreed project deadlines as we continue to implement the agreed transaction. An update with regard to progress on the Mbeya Coal to Power Project will also follow shortly.'
Maps showing the location of the Imweru and Imwelo projects can be found on the Kibo website www.kibomining.com under the Projects/Lake Victoria (gold) menu on the home page.
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Kibo Mining Plc
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EXPLORATEUR |
CODE : KIBO.L |
ISIN : IE00B97C0C31 |
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Kibo Mining Plc est une société d’exploration minière basée en Irlande. Ses principaux projets en exploration sont HANETI NICKEL, MOROGORO GOLD, LUHALA GOLD et ITETEMIA GOLD en Tanzanie. Kibo Mining Plc est cotée au Royaume-Uni. Sa capitalisation boursière aujourd'hui est 14,9 millions GBX (17,4 millions US$, 16,2 millions €). La valeur de son action a atteint son plus haut niveau récent le 02 janvier 2015 à 9,85 GBX, et son plus bas niveau récent le 23 décembre 2022 à 0,00 GBX. Kibo Mining Plc possède 412 901 424 actions en circulation. |