The placement of Kibo shares in the case of premium show investment is being built

KIBO Mining announced that it would reap £ 500,000 through a stock placement, with profits being allocated mainly to the development of its Mabesekwa and Benga coal projects at Botswana and Mozambique respectively. "We are very pleased to see that the interest of institutional investors for Kibo has steadily increased since Kibo announced its energy strategy and energy policy," he added. after completing the recent acquisitions of MCIPP [Mabesekwa Coal Independent Power Project] and BIPP [Benga Independent Power Project] "said Louis Coetzee, CEO of Kibo Mining.

Shares, totaling just over 9.5 million at a price of 5.25 pence per share, were placed with an anonymous Irish Investment Fund, said the company. "The latest investment at the significant premium of 25% sends a very strong message on what investors believe the value proposition is that Kibo has to offer, "said Coetzee.Total Power Project in Tanzania.The company is getting closer to an electricity purchase agreement with the Tanzanian government which will be one important milestones before construction of the 300 MW initiative can begin.