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Company Announcement: Zambian Project Update

7th February 2013

  

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Kaboko Mining Limited  (0.34 MB)

Zambian focused manganese company Kaboko Mining Limited advises that the Company is concluding with Noble Resources International Pte. Ltd., a wholly owned subsidiary of Noble Group Limited, completion matters for the advance of US$3 million, being the balance of funding under Tranche A of the $10 million Prepayment Debt Facility (Prepayment Facility) and long term manganese ore Off-take Agreement. The parties are finalising Noble’s final due diligence items in respect of the licensing conditions for the Northern Manganese Project at Mansa, Zambia. The drawdown should be concluded in the next 5 to 10 days. The Company is pleased to advise that a new prospecting permit has granted at the Emmanuel Project which neighbours existing license boundaries. This license will be held by the Company’s local subsidiary, Zambian Manganese Mining Company Limited.

Edited by Creamer Media Reporter

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