| Wed 8 Jun 2011, 9:12 | | KBO - Kibo Mining Plc - Appointment of Director |
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KBO
KBO
KBO - Kibo Mining Plc - Appointment of Director
Kibo Mining Plc
(Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B61XQX41
("Kibo" or "the Company")
Appointment of Director
Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO, JSE: KBO) the mineral
exploration and development company focused on gold and nickel projects in
Tanzania, is pleased to announce the appointment of Wenzel Kerremans as Non-
Executive Director of Kibo.
Commenting on the appointment, Noel O`Keeffe, CEO of the Company said:
"I welcome Wenzel`s appointment to the Board and I know his extensive mining,
legal and financial experience of working in Africa make him a valuable
addition. I look forward to working with him as we advance exploration and
development of our assets in Tanzania and evaluate other mineral project
acquisition opportunities in Africa."
Christian Schaffalitzky, Kibo`s Chairman added:
"Following our acquisition of Morogoro Gold Limited, the recently completed dual
listing on the JSE and the placing in South Africa, the appointment of Wenzel
marks another step in the corporate re-organisation of Kibo to place it at the
centre of African mineral exploration. Wenzel`s experience will strengthen our
Board as we endeavour to unlock the value in our large mineral project portfolio
in Tanzania."
The New Director
Details of the new Director are set out below:
Wenzel Kerremans aged 53, B.Proc, LLB, LLM (Banking & Stock Exchange law), Adv.
Dip. International Tax, Non-executive Director.
Wenzel Kerremans is a lawyer by profession with over 25 years international
legal experience in mining, banking, project finance and international tax,
advising clients who have invested in exploration and mining projects in Africa.
He has also originated and successfully sold Veremo Holdings Limited a billion
ton titaneferous magnetite exploration project, for the production of iron and
titanium slag. Wenzel is currently a principal and a director of a gold,
graphite and coal exploration project in Africa.
The following are details of all current and former directorships in the
previous five years held by Wenzel Kerremans:
Full Name: Wenzel Johan Konstant Kerremans
Current Directorships Former Directorships
Barold Exploration(Proprietary) Changing Tides 341 (Proprietary) Limited
Limited
Straightprops 25 (Proprietary) Duikerskrans Resources (Proprietary) Limited
Limited
Magenta Consulting(Proprietary) Greenbird Recycling (Proprietary) Limited
Limited
Cool Ideas 180 (Proprietary) Paardekloof Resources (Proprietary) Limited
Limited
Sweet Sensation 100 The African Business and Tax Institute
(Proprietary) Limited (Proprietary) Limited
Touch Base Trading 7 (Proprietary) Limited
Rapid Dawn 265 (Proprietary) Limited
Veremo Holdings Limited
Veremo Industries (Proprietary) Limited
Veremo Mining (Proprietary) Limited
Wenzel Kerremans has entered into a letter of appointment with the Company dated
7 June 2011. The Company has agreed a fee of GBP3,000 per quarter and has issued
Wenzel options over 1.5 million Kibo Shares exercisable at an option price of
GBP0.0388 up to 31 March 2016.
There are no further details to be disclosed under Rule 17 schedule 2 paragraph
(g) of the AIM Rules in relation to Wenzel Kerremans.
Company Profile
Kibo holds interests in two resource based gold projects, Itetemia and Luhala,
with a combined JORC resource of 534,000 ounces gold in the Lake Victoria
Goldfields of northern Tanzania. In this region, it also holds interest in an
early stage mineral licence portfolio, the Lake Victoria project, which
comprises large areas of gold prospective geology close to producing gold mines,
advanced development projects and historic gold showings. Further south in
Tanzania, Kibo`s Morogoro project comprises a large mineral licence portfolio in
the newly emerging gold areas of south and eastern Tanzania while its early
stage nickel-PGM project, Haneti, is located just north of Tanzania`s capital
Dodoma in central Tanzania. More details of the Company`s projects are shown on
its website.
The Company is commencing its 2011 field exploration programmes and will provide
results updates as they become available.
Enquiries:
Noel +353 91 384562 Kibo Mining plc Chief Executive
O`Keeffe Officer
John 020 7776 6550 Daniel Stewart & Company Plc Nominated Adviser
Simpson
Andrew +27 83 44 083 65 River Group Designated Adviser
Lianos - JSE
Fiona 020 7448 9820 Alexander David Securities Joint Broker
Kinghorn Limited
Anthony 020 7628 1128 Loeb Aron & Company Limited Joint Broker
Kluk
Updates on the Company`s activities are regularly posted on its website
www.kibomining.com
Pretoria
08 June 2011
Designated and Corporate Advisor
River Group
Date: 08/06/2011 09:12:19 Produced by the JSE SENS Department.
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