Kibo to raise £750 000

27th February 2018 By: Creamer Media Reporter

JOHANNESBURG (miningweekly.com) – Aim- and AltX-listed Kibo Mining has received commitments to raise £750 000 through the placing of 17.65-million shares at a price of 4.25p each.

“The funds raised today enable us to build on our strategy to create a strategic regional electricity supplier.

“Our portfolio of power projects, including our flagship 300 MW Mbeya coal-to-power project, is rapidly advancing and I look forward to updating both new and existing shareholders on progress soon,” CEO Louis Coetzee said on Tuesday.

The placing was arranged by Kibo’s UK broker Beaufort Securities.