https://www.miningweekly.com

Kibo raises £725 000 for Tanzania-focused activities

9th January 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Tanzania-focused exploration and development company Kibo Mining said on Wednesday that it had raised £725 000 of working capital for its Tanzania-focused activities.

The funds would be distributed between general working capital, exploration programmes and investigations into further joint venture opportunities.

The AltX- and Aim-listed group, which stated in December that it had experienced difficulties securing further exploration and development programme funding, placed almost 121-million ordinary shares at 0.6p.

The company entered into an agreement with major shareholder Mzuri Capital Group (MCG) to settle the placing using the shares currently held by MCG, after Kibo placed the price of the shares below the current par value of €0.01.

Following the placement, MCG’s shares would be replaced and its shareholding fully restored through the issuing of new ordinary shares.

The settlement was expected to be completed by the end of this month.

Kibo also stated that it would seek shareholder approval to reduce the par value of its ordinary shares.

In October, Kibo completed the acquisition of South Africa-based Mayborn Resource Investments and Canada-based Mzuri Energy, adding significant coal and uranium assets to Kibo’s commodity portfolio in Tanzania.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

CSIR International Convention Centre (CSIR ICC)
CSIR International Convention Centre (CSIR ICC)

CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.

VISIT SHOWROOM 
ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/06/2026)
26th June 2026 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.04 0.061s - 111pq - 2rq
Subscribe Now