Last checked at 30 Jun 2016 07:00
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")
30 June 2016
Mbeya Coal to Power Project: Completion of Water Availability Study
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focussed mineral exploration and development company is pleased to announce completion of the independent, integrated Water Availability Study for the Mbeya Coal to Power Project ("MCPP").
The Water Availability Study ("the Study"), to determine sustainable groundwater yields and pit inflows through aquifer testing and numerical flow modelling, was performed by Shangoni Management Services, the consultants appointed to execute the Environmental and Social Impact Assessment for the MCPP. The following activities formed part of the Study:
1. Geophysics (resistivity surveys) within the vicinity of the Study area, with focus in and around the pit area to determine geological anomalies or lineaments and preferential flow paths for the movement of groundwater.
2. Drilling of boreholes into identified anomalies.
3. Aquifer testing (slug and pump testing) to determine aquifer hydraulics for flow modelling (pit inflows) and sustainable borehole yields.
4. Water sampling for hydro chemical and biological analyses (and general borehole surveys including GPS surveying (XYZ) and static water levels for model calibration.
5. Numerical modelling inclusive of steady- and transient state flow models to determine pit inflows for the Life of Mine ("LoM") and dewatering strategies. The numerical model aimed to:
a. estimate the groundwater seepage rate to the pit over the Life of Mine (LOM); and
b. estimate the sustainable yield of the aquifer(s) in the area with a view to meeting the bulk water supply to the proposed project.
The Study concluded that ground water would be available in sufficient and sustainable quantities throughout the life of plant, to adequately supply the power station with water in accordance with the power plant design specifications, stated in the MCPP Power Feasibility Study.
Louis Coetzee, CEO of Kibo Mining plc said " We are delighted with the outcome of the Water Availability Study and with yet another work stream completed we are getting ever closer to concluding work on the MCPP feasibility studies. This study also formed a very important part of the ESIA which is now also nearing completion as scheduled."
Contacts
Louis Coetzee | +27 (0) 83 2606126 | Kibo Mining plc | Chief Executive Officer |
Andreas Lianos | +27 (0) 83 4408365 | River Group | Corporate Adviser and Designated Adviser on JSE |
Jon Belliss | +44 (0) 207 382 8300 | Beaufort Securities Limited | Broker |
Oliver Morse | +61 8 9480 2500 | RFC Ambrian Limited | Nominated Adviser on AIM |
Daniel Thöle / Anna Legge
| +44 (0) 203 772 2500
| Bell Pottinger | Investor and Media Relations |
Kibo Mining - Notes to editors
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The Company is focused on exploration and development of mineral projects in Tanzania, and controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable operating environment for the mineral resource industry and Kibo Mining therein.
Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101 compliant defined resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to Power Project ("MCPP"), previously called Mbeya Coal to Power Project ("MCPP"), with an established management team that includes Standard Bank as Financial Advisor. Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power Pre-Feasibility Study for the Mbeya project with an integrated Bankable Feasibility Study report for the MCPP to be released in the near term. On 20th April 2015, Kibo signed a Joint Development Agreement for the completion of the Definitive Feasibility Studies and development of the MCPP with China based EPC contractor SEPCO III.
The Company also has extensive gold focused interests including Lake Victoria Goldfields and Morogoro projects. At Lake Victoria, the Company has projects with a 550,000 oz. JORC compliant gold Mineral Resource at Imweru Project and a 168,000 oz. NI 43-101 compliant gold Mineral Resource at the Lubando Project in which the Company holds a 90% attributable interest. The Company is currently undertaking a Definitive Feasibility Study on its Imweru Project.
Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for nickel, PGMs, gold and strategic metals including lithium.
Kibo Mining further holds the Pinewood (coal & uranium) project where the company has entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
Finally, the Company also holds the Morogoro (gold) project where the company has also entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.
The Company's projects are located in the established and gold prolific Lake Victoria Goldfields, the emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern Tanzania where the Government has prioritized infrastructural development attracting significant recent investment in coal and uranium. The Company has a positive working relationship with the Tanzanian government at local, regional and national levels and works hard to maintain positive relationships with all communities where company interests are held. The Company recognizes the potential to enhance the quality of life and opportunity for Tanzanian citizens through careful development of its projects.
Updates on the Company's activities are regularly posted on its website www.kibomining.com
Johannesburg
30 June 2016
Corporate and Designated Adviser
River Group