May 1, 2011
KIG Mining Plc delisting from Frankfort Stock Exchange.
|
KIG Mining Plc’s board of directors announce delisting from Frankfort Exchange for preparation to restructure the company’s new prospectus and revaluation of its acquired assets and operations.
Therefore as the markets are doing better in the commodity sector and specially on mineral producing assets the directors consider a fresh IPO in the near future on more liquid markets in its sector of business.
|
| |
January 31, 2011
KIG Mining Plc plans to introduce a private placement opportunity involving 50 million common shares and 20 million option shares.
|
|
KIG Mining Plc's board of directors announced their intentions for completion of acquisition agreements for a diamond mine in South Africa. KIG Mining Plc plans to introduce a private placement of an aggregate 50 million common shares at a price to be determined at a later date. In addition, the company will also issue 20 million option shares. This will be a non-brokered placement for the party in discussion.
|
|
The said common shares will bear a twelve month hold period. The option shares will have an expiry date of 36 months (3 years).
|
|
The funds will be used in developing and upgrading the company's diamond mine acquired in South Africa. There is currently an agreement in place for the construction of the mine beginning in the third quarter of 2011.
|
|
KIG Mining Plc also plans to raise funds and invest further into its new acquisitions of diamond mines in southern Africa. The said acquisitions are in final negotiations of the test and evaluation stage.
|
| |
August 3, 2010
KIG Mining Plc concluded a Memorandum of Understanding to acquire Exploration Permits in DRC.
|
|
KIG Mining Plc is pleased to announce that it concluded a Memorandum of Understanding on July 2010 with two companies in the Democratic Republic of Congo (DRC) to acquire fifteen (15) diamond Exploration Permits in the diamond Craton in the Tshikapa area in Occidental Kasai of the DRC. The permits total more than 6,000 km².
|
|
More than USD 3.2 million was spent on exploration of these permits in the last years. The MOU calls for an option period of 30 days to allow KIG to evaluate the potential of the permits. A considerable amount of data was made available to the company including aero magnetic surveys, sampling results, geochemistry results and preliminary drilling results. More than 20 potential diamondiferous anomalies have been identified on the properties. Targets on four permits have classified as “drill ready” and more are expected to be classified as such following a geophysical analysis of the data.
|
|
Alluvial diamond mining by local artisans is on-going on parts and in proximity to the permits acquired. The DRC is a party to the Kimberlite process and more than USD 600 million dollars is exported each year according to the Diamond Council of Antwerp.
|
|
Upon completion of the evaluation study KIG will own 100% of the permits.
|
|
KIG expects to make a further announcement on the evaluation of the permits in late August 2010.
|
|
KIG is very confident that based on the evaluation of the data those permits will prove to be high yielding in quality diamonds knowing the area in which the permits are located
|
| |
June 2, 2010
KIG Mining Plc. in progressive negotiations.
|
|
KIG Mining Plc. Progressive negotiations are on track on acquisitions of rich gold deposits in West Africa as well as an operation on kimberlitic pipes in Southern Africa. Various other alluvial and kimberlitic deposits are also under consideration in the African region.
|
|
With the current acquisitions, KIG Mining Plc is foreseeing a highly lucrative long term operation in historically proven mineral rich regions.
|
| |
July 30, 2009
KIG Mining Plc. Funding for resumption of operations is in place for the Silverstream project.
|
|
Johannesburg, South Africa - July 30, 2009 - KIG Mining Plc - (5KM.F) - With the current acquisitions from BRC-DiamondCore,
negotiations are being finalised to include all its South African assets in the agreement including the kimberlitic pipes.
|
|
GEM has secured a €10 million equity line of funding for KIG Mining Plc which will be utilised for the settling of major creditors of BRC Diamondcore Ltd, resumption of the mining operations at the Silverstreams plant and the further development of the existing plant to increase production.
|
|
Staff that was retrenched due to the 'care and maintenance' under which the plant was put, will be re-employed and additional job opportunities will be created by the expansion of the processing plant which will be a welcome boost in the social upliftment of the local community.
|
|
Progressive negotiations are on track on the acquisition of rich Diamond deposits in South Africa's west coast as well as an operation on kimberlitic pipes in Botswana. Various other alluvial and kimberlitic deposits are also under consideration.
|
|
KIG Mining Plc is foreseeing a highly lucrative long term operations in this historically proven mineral rich regions in Southern Africa.
|
| |
July 14, 2009
KIG Mining Plc secures €10 million equity line of credit London, UK and Johannesburg, South Africa
|
|
Plc - (5KM.F) - ("KIG" or "the Company") announces that it has secured access to a €10 million line of funding.
|
|
Under an agreement signed on 7 July 2009, GEM Global Yield Fund Limited ("GEM Global"), the UK based private investment group, has agreed to provide KIG Mining Plc with €10 million over the next three years in the form of an equity line of credit. KIG will control the timing and maximum amount of any draw down under this credit line and is not obliged to draw on the funds on offer.
|
|
On drawdown, KIG will issue ordinary shares to GEM Global at a price per share which represents a 10% discount to the average closing price of KIG ordinary shares over a 15 trading day period prior to drawdown.
|
|
KIG also agreed to issue 2,000,000 warrants. The warrants will be exercisable for a period of four years from the issue date at an exercise price of €1.00 each.
|
|
KIG Mining Plc has recently acquired BRC Diamondcore's alluvial diamond projects in South Africa. One of the projects, Silverstreams, is an active productive operation which KIG plans to develop and expand and the remaining projects will be brought into full operation within due time.
|
|
KIG will be utilising the line of credit to expand the production of the Silverstreams plant to maximum capacity. In addition to the production, the plant will be upgraded to utilise the latest technology in diamond recovery to maximise yield.
|
|
The areas acquired by KIG are known and proven to yield high quality diamonds in excess of 50 carat in weight.
|
|
KIG Mining Plc entered into a joint venture agreement with South African based Rox Mining (Pty) Ltd. to manage and run the southern African projects.
|
|
The GEM Group is a UK based US$ 3,4 billion private equity investment group founded in 1991, with offices in Paris, London, Hong Kong and New York. They have completed more than 270 transactions in 55 countries across the world. They specialise in private investments but also invest in public listed companies. The GEM Group operates in the US and internationally, across a broad spectrum of industries and transactional structures. Investments of GEM Group usually involve engagement in shares. GEM Group often provides financing for an entire undertaking or acts as the leading investor.
|
|
GEM has expressed an interest in participating in the financing for KIG Mining Plc's remaining projects.
|
| |
July 3, 2009
BRC DIAMONDCORE Announces Agreement To Sell Alluvial Diamond Projects In South Africa
|
|
Toronto, Canada and Johannesburg, South Africa - July 3, 2009 - BRC DiamondCore Ltd. (TSX - "BCD"; JSE - "BCD") announces that it has entered into a Heads of Agreement with KIG Mining Plc ("KIG") pursuant to which KIG has agreed to purchase BRC's alluvial diamond projects in South Africa, consisting of the Silverstreams, De Kalk, Muishoek, Sanddrift and Uitdraai projects, together with the processing plant, mining fleet and equipment which are associated with these projects. These assets are held by BRC through South African subsidiaries of BRC.
|
|
The purchase price for the Purchased Assets set out in the Agreement is US$10.7 million will be paid part in cash and part in shares in KIG Mining Plc.
|
|
KIG is a publicly-traded gold and diamond exploration company (symbol: 5KM on the Frankfurt Exchange) with properties in Liberia, West Africa. KIG's head office is in the United Kingdom.
|
|
KIG intends to resume operations at the Silverstreams project, utilizing some of the staff previously employed at this operation, and a plan for the transition of the project into production will be assisted by BRC over the next two to four weeks KIG will be responsible for providing the working capital to resume such operations.
|
|
BRC DiamondCore Ltd. is an African-focused diamond explorer active in South Africa and the Democratic Republic of the Congo. Led by a management team with extensive experience in diamond exploration and mine development, the Company has a broad spectrum of projects ranging from advanced stage trial mining operations through grass-roots exploration. The Company's projects comprise both prospective alluvial gravels and primary kimberlite targets. The Company works in a systematic and responsible manner to discover, assess and develop diamond resources for the benefit of its shareholders and local stakeholders.
|
| |
May 11, 2009
Business plan for one of the operations in South Africa has been approved by the executive board and is ready for implementation
|
|
KIG Mining Plc Chairman and CEO, Mr. Kaprelian reported that a business plan for one of the operations in South Africa which is in the final negotiation stages has been approved by the executive board and ready for implementation. This acquisition is a running concern in a proven rich area in the Northern Cape Province of South Africa. Details on this acquisition and the relevant operational plan will be made available on the Company’s website and in related public media shortly.
|
|
With the financial backing available at the disposal of KIG Mining Plc, the company is intensely pursuing various other mining concerns in mineral rich areas with productive operations in the southern African region.
|
|
The company has access to a fund facility for the upgrade and increase of production in the projects considered.
|
|
Several supply contracts with consumers are being negotiated, providing a stable business relation throughout the operations.
|
| |
May 5, 2009
The chairman has reported on strategic changes
|
|
The chairman, Mr. Kaprelian has reported on strategic changes to the Company's prime business of mining operations. The company's focus is to move from West Africa (Liberia) and to intensify operations in southern Africa, historically known for its diamond rich areas. The motive behind this move of focal point is the reduction of the risks in West Africa and to exploit higher volume production. A complete business and operational plan together with other relevant details will be announced in due time. This information will be available on the Company's website and published in related public media.
|
|
KIG Mining Plc is at the time of this announcement in positive and advanced negotiations with the acquisition of various mining operations, both diamond and gold. These acquisitions are progressing swiftly at present.
|
|
New directors were appointed with effect of 14 April 2009. They are Mr Hendrik J. Gerber and Mr Lameh Fares, joining the team for their expertise in their respective fields.
|
|
The shares in capital issued were totalling 186,102,998 ordinary shares up to the date of general meeting in April 2009.
|
| |
April 14, 2009
General Meeting
|
|
A General Meeting was held at the KIG Mining Office in Beirut, Lebanon.
Click here for details...
|
| |
April 14, 2009
KIG Mining Plc moving operations
|
|
Moving Priority operations of KIG Mining Plc from West Africa Liberia to South Africa. Details coming shortly.
|
| |
February 23, 2009
Annual General Meeting
|
|
The Annual General Meeting will be held no later than July 19, 2009.
|
|
Here's the proposed agenda:
- Adopting the financial statements
- Re-appointment of Directors
- Re-appointment of the company's auditors
- Declaration of any dividend
- Granting the Directors authority to allot shares
- Disapplication of pre-emption rights
|
| |
June 13, 2008
Mining equipments contracting
|
|
KIG Mining PLC. has been negotiating a contract with ROX Mining Pty for equipping and managing the mining operation of its gold and diamond properties in Liberia.
|
|
With extensive experience of mechanical engineering and mining engineering in South Africa and West Africa, ROX Mining Pty provides KIG Mining PLC with a good understanding on developing mining operations in Liberia on a more industrial scale.
|
|
The agreement with KIG Mining will provide ROX Mining with a reasonable share of the production outcomes.
|
| |
June 10, 2008
KIG Mining PLC recently appointed new Directors.
|
|
Hrayr Agnerian, M. SC., P. Geo., is President of Agnerian Consulting Ltd., an independent consulting firm offering geological consulting services. He’s been previously involved with Scott Wilson RPA, Cameco, Serem, Brinex and other major and junior firms.
|
|
Miss Talar S. Aprahamian has been appointed as CFO. She has extensive experience as Financial assets manager for prominent securities firms.
|
|
Vicken Kaprelian will continue to act as Chairman and main project coordinator. His lifelong experience as a gold and diamond specialist and entrepreneur, internationally skilled in business development, is a main asset for KIG Mining PLC.
|
| |
February 27, 2008
New license delivered
|
|
KIG Investment Group Inc., a Liberian gold and diamond mining company owned by KIG Mining PLC, has been granted the license (GM-309-200) of gold mining for claims located in the Grand Cape Mount county, on the Weafua River, an area historically widely known as hosting gold camps.
|
|
The license has been issued on February 27th, 2008 by the Ministry of Lands, Mines and Energy of the Government of Liberia, under the mineral and mining law of the Republic of Liberia. It was signed by the Assistant director of mines and approved by the Director of mines and further attested by the Assistant Minister of mines.
|
|
Other licenses are under process for the Yambassie Claims, and further exploration of proper locations for rich areas of diamond and gold operations is taking place. The same process was undergone for Weafua, previously.
|
|
KIG Mining PLC. wants to be operational for mining on both areas as soon as possible. Significant funds have been invested in machinery to increase the production to a semi-industrial level and generate cash flow for more equipment upgrading and further geological exploration, to expand the operational area.
|
|
The compliance of mining titles was supervised by the Consul of Canada in West Africa (Ivory Cost). Hr. Mrs. Lee Anne Hermann, with the verification of the Deputy Minister of Lands, Mines and Energy of Liberia, Hr. Mr. Akpandal Fayia.
|
