Report

Kibo Energy (KIBO) Flash Note Arbitrage ACF Equity Research 26092022

Kibo Energy Plc (KIBO.L: AIM, dual listed JSE:KBO) is a renewable energy and critical metals company. Kibo Energy Shares on the JSE (KBO) traded at a median 90.13% premium over the last 12 months vs. the same shares on AiM under the KIBO.L ticker. KBO shares in the hands of South African sophisticated high net worth and institutional investors have risen 66.7% between 8 Jun 2021 and 31 Aug 2022. There is little to no true retail market in South Africa. WAN shares in issue 31 Dec 2021 2.48bn, shares in issue today 3.04bn, a delta of 22.5%. KBO:JSE shares traded at approximately NAV over the last 52 weeks. Dematerialised shares in London ought to be saleable by going direct to South African Brokers.

Underlying
Kibo Energy

Kibo Energy PLC Formerly known as Kibo Mining PLC. Kibo Energy PLC, formerly Kibo Mining PLC, is engaged in exploration for and development of coal and other minerals in Tanzania. The Company operates through two segments: mining and corporate. The mining segment operates in Tanzania. The corporate segment operates in Ireland, Cyprus, South Africa, Canada and the United Kingdom. Its projects include Mbeya Coal to Power Project, which is located in southern Tanzania, over 70 kilometers north of the regional town of Mbeya; Lake Victoria Project, which Imweru Mineral Resource located in northern Tanzania at the western side of the Geita Greenstone Belt within the Lake Victoria gold field, and Morogoro Gold and Pinewood Uranium Projects, which are located in central and southern Tanzania. It also holds a portfolio of earlier stage gold licenses and applications located within gold productive greenstone belts in the Lake Victoria Gold project. Through its subsidiary, Mast Energy Developments Ltd, it constructs power and communication line.

Provider
ACF Equity Research
ACF Equity Research

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Analysts
ACF Energy

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