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2 Dec 2016 07:00
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FOR RELEASE 7am 2 December 2016
Opera Investments plc ("Opera")
Update on Potential Acquisition by Opera of the Imweru and Lubando Gold Projects from Kibo Mining Plc ("Kibo")
Opera and Kibo announced on 23 September 2016 that a Heads of Terms had been agreed by the parties for Opera to acquire the Imweru and Lubando gold projects from Kibo Mining Plc ("the Proposed Acquisition").
The directors of Kibo and Opera are pleased to announce that the Proposed Acquisition is progressing well and is at an advanced stage. Both Kibo and Opera have been working hard alongside their professional advisers to process the considerable and appropriate transaction documentation and are pleased with progress to date.
It is likely that the fundraising required to complete the Proposed Acquisition will take place early in the New Year and every effort is being made to complete the transaction as soon as possible.
Shareholders should note that there remain a number of matters that the Proposed Acquisition is conditional upon which are expected to be successfully completed in due course.
Further announcements in relation to the Proposed Acquisition will be made as soon as appropriate.
Paul Dudley, Chairman of Opera commented, "We are pleased with the significant progress we have made to date alongside our advisers and Kibo and we look forward to completing the transaction in early 2017."
Enquiries:
Opera Investments plc, Paul Dudley, Tel: +44 (0) 20 3551 4872
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