Update re Katoro Gold plc

RNS Number : 4852B

Kibo Energy PLC

30 January 2020

 

Kibo Energy 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: 30 January 2020

Kibo Energy PLC ('Kibo' or the 'Company')

Update re Katoro Gold plc

Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to note the announcement released by Katoro Gold plc ('Katoro') in which it holds a 54.58% interest.  This is in regard to Katoro's participation in a strategic gold production opportunity in South Africa, focused on the reprocessing of an existing 1.34 million ounce of gold JORC compliant tailings resource.

The full announcement can be found at Katoro's website: https://katorogold.com/investors/regulatory-news/.

**ENDS**

For further information please visit www.kibo.energy or contact:

Louis Coetzee	[e-mail]	Kibo Energy PLC	Chief Executive Officer
Andreas Lianos	[phone]	River Group	Corporate and Designated Adviser on JSE
Jason Robertson	[phone]	First Equity Limited	Joint Broker
Philip Adler	[phone]	ETX Capital Limited	Joint Broker
Bhavesh Patel / Stephen Allen	[phone]	RFC Ambrian Limited	NOMAD on AIM
Isabel de Salis / Beth Melluish	[phone]	St Brides Partners Ltd	Investor and Media Relations Adviser

Notes

Kibo Energy PLC is a multi-asset, Africa focused, 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 has a 60% interest in MAST Energy Developments Limited ('MED'), a private UK registered company targeting the development and operation of flexible power plants to service the UK Reserve Power generation market. 

Johannesburg

30 January 2020

Corporate and Designated Adviser

River Group

 

END

 

 

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