Kibo Mining Plc ("the Company") is a public limited company
incorporated in Ireland. The Group financial statements consolidate
those of the Company and its subsidiaries (together referred to as
the "Group"). The Company's shares are listed on the Alternative
Investment Market ("AIM") of the London Stock Exchange and from the
30 May 2011 the Alternative Exchange of the Johannesburg Stock
Exchange Limited (ALTX). The principal activities of the Company
and its subsidiaries are related to the exploration for and
development of gold and other minerals in Tanzania.
2. Statement of Compliance and basis of preparation
The Financial Statements are for the six months ended 31 March
2012. They do not include all the information required for full
annual financial statements and should be read in conjunction with
the audited consolidated financial statements of the Group for the
year ended 30 September 2011, which were prepared under
International Financial Reporting Standards ("IFRS") as adopted by
the European Union ("EU").
The financial information is prepared under the historical cost
convention and in accordance with the recognition and measurement
principles contained within IFRS as endorsed by the EU.
The comparative amounts in the Financial Statements include
extracts from the Company's consolidated financial statements for
the year ended 30 September 2011. These extracts do not constitute
statutory accounts in accordance with the Irish Companies Acts 1963
to 2009.
3. Loss per share
Basic earnings per share
The basic and weighted average number of ordinary shares used in
the calculation of basic earnings per share are as follows:
6 months 6 months 12 months
to to to
-------------------------------- ------------- ------------- --------------
31 March 31 March 30 September
-------------------------------- ------------- ------------- --------------
2012 2011 2011
-------------------------------- ------------- ------------- --------------
GBP GBP GBP
-------------------------------- ------------- ------------- --------------
Loss for the year attributable
to
-------------------------------- ------------- ------------- --------------
equity holders of the parent (243,038) (421,132) (3,691,561)
-------------------------------- ------------- ------------- --------------
Weighted average number of
-------------------------------- ------------- ------------- --------------
ordinary shares for the
-------------------------------- ------------- ------------- --------------
purposes of basic earnings
-------------------------------- ------------- ------------- --------------
per share 388,490,167 279,596,711 331,040,217
-------------------------------- ------------- ------------- --------------
Basic loss per ordinary share
(pence) 0.06 0.15 1.12
-------------------------------- ------------- ------------- --------------
4. Called up share capital and share premium
Authorised share capital of the company is 800,000,000 ordinary
shares of 0.01 euro each.
Details of issued capital are as follows:
Number
of
--------------------------------------- --------------- ------------ -----------
Shares
--------------------------------------- --------------- ------------ -----------
Ordinary Nominal Share
--------------------------------------- --------------- ------------ -----------
shares Value Premium
of
--------------------------------------- --------------- ------------ -----------
EUR0.01 GBP GBP
each
--------------------------------------- --------------- ------------ -----------
At 1 October 2010 253,925,874 2,132,295 3,533,115
--------------------------------------- --------------- ------------ -----------
Shares issued in period (net of
--------------------------------------- --------------- ------------ -----------
expenses) for cash 30,666,667 269,491 480,466
--------------------------------------- --------------- ------------ -----------
Shares issued in the period (net
of
--------------------------------------- --------------- ------------ -----------
expenses) for acquisition of Morogoro
--------------------------------------- --------------- ------------ -----------
Gold Limited 56,666,667 501,653 1,198,348
--------------------------------------- --------------- ------------ -----------
Balance at 31 March 2011 341,259,208 2,903,439 5,211,929
--------------------------------------- --------------- ------------ -----------
Shares issued in period (net of
--------------------------------------- --------------- ------------ -----------
expenses) for cash 36,370,303 328,459 675,398
--------------------------------------- --------------- ------------ -----------
Balance at 30 September 2011 377,629,511 3,231,898 5,887,327
--------------------------------------- --------------- ------------ -----------
Shares issued in period (net of
--------------------------------------- --------------- ------------ -----------
expenses) for cash 37,500,000 314,017 398,482
--------------------------------------- --------------- ------------ -----------
Balance at 31 March 2012 415,129,511 3,545,915 6,285,809
--------------------------------------- --------------- ------------ -----------
Enquiries
Louis Coetzee +27 (0)83 2606126 Kibo Mining Chief Executive
plc Officer
---------------- -------------------- ------------- ---------------------
Stuart Laing +61 8 9480 2506 RFC Ambrian Nominated Adviser
---------------- -------------------- ------------- ---------------------
Limited
---------------- -------------------- ------------- ---------------------
Andreas Lianos +27 (0)83 4408365 River Group Corporate Adviser
and
---------------- -------------------- ------------- ---------------------
Designated Adviser
---------------- -------------------- ------------- ---------------------
(AltX)
---------------- -------------------- ------------- ---------------------
Nick Bealer +44 (0)207 7109612 Cornhill Broker (Corporate
---------------- -------------------- ------------- ---------------------
Capital Ltd Broking)
---------------- -------------------- ------------- ---------------------
Matthew Johnson +44 (0)207 7968829 Northland Broker (Assistant
---------------- -------------------- ------------- ---------------------
Capital Director, Corporate
---------------- -------------------- ------------- ---------------------
Finance)
---------------- -------------------- ------------- ---------------------
Matt Beale +44 (0)7966 389196 Fortbridge Public Relations
---------------- -------------------- ------------- ---------------------
Review by Qualified Person
The information in this announcement that relates to mineral
resources is based on information from a NI 43-101 compliant
technical report with an effective date of 19 April 2012 authored
by CD van Niekerk, Pr.Sci.Nat. of Gemecs (Pty) Limited in South
Africa. CD van Niekerk has at least five years experience within
the sector which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is
undertaking to qualify as a qualified person under the AIM Rules.
CD van Niekerk consents to the inclusion in this announcement of
the matters based on his information in the form and context in
which it appears.
General Background & Strategy
Kibo is a public company registered in Ireland (company number
451931). Its registered office is Kibo Mining plc, Suite 3, One
Earlsfort Centre, Lower Hatch Street, Dublin 2, Ireland. Kibo was
established in early 2008 to explore and develop mineral deposits
in Tanzania, East Africa and was admitted to AIM on 27 April 2010
and AltX in South Africa on 30 May 2011.
The Board of Kibo is composed of experienced professionals
spanning mineral exploration, mine development, mining finance and
financial control of public companies. It is supported by well
trained and motivated Tanzanian staff that operates from Kibo's
exploration offices in Dar es Salaam and Mwanza.
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