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KAB - Kaboko Mining

springhill

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MC - $9.5m
SP - 1.6c
Shares - 594m
Options - 142m
Cash - $249k

Kaboko Mining the manganese exploration, development and mining company operating in Zambia, is pleased to provide its operational report, together with its subsidiaries, for the quarter ending 30 June 2012. A copy of this report is available on the Company's website, www.kabokomining.com.

COMPANY HIGHLIGHTS
•Certified results received for the second trial shipment of manganese ore in the previous quarter further confirmed the high grade and quality of manganese ore at the Emmanuel Project
•Exploration and development work continued across the Company’s Zambian Manganese Projects with A$0.7m spent on exploration and evaluation and acquisition of mine equipment including approx. A$0.1m on refurbishment of the Company’s own RC drilling rig
•Significant manganese mineralisation identified at the Kanona Project over significant strike length
•Finalised design and capital costs quote received for the supply and construction of the manganese processing plant to be established at its Emmanuel Project
•Shareholders approve issuance of 24m shares to increase shareholding in Impondo Zambia Mining Limited to 75% and its rights over the small scale mining license at the Chowa Open Pit Mine
•Heads of Agreement with Australian American Mining Corporation for the sale of the Company’s non‐core uranium projects in New Mexico USA
•Subsequent to the Quarter’s end the Company announced execution of binding loan documentation for a staged US$10m secured Prepayment Debt Facility and a 10 year Manganese Ore Off‐take Agreement with Noble Resources Limited, a subsidiary of Noble Group Limited
 

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springhill

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KABOKO CONFIRMS E.I.M. FUND AS INVESTOR

Zambian focused manganese exploration and mining company Kaboko Mining is pleased to welcome independent Melbourne‐based equity fund manager E.I.M. Capital Managers to its share register.
Kaboko has identified E.I.M., through its Emerging Resources Company Share Fund, as the purchaser of 30 million shares in the Company from existing shareholders to become Kaboko’s largest shareholder.

Kaboko executive director Jason Brewer said:
“I am pleased that E.I.M. has identified Kaboko as one of a select group of junior resources investments for the Fund. The Fund focuses on investing in companies with the potential to achieve significant organic growth over the medium term. Its investment is a great sign of our potential and I welcome the support of E.I.M. for the Company and its Zambian Manganese Projects.”
 
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Out of interest, I searched for shares moving between $0.001 - $0.002 and I eventually found KAB to be one of the fastest moving.

A recent prospectus document contains:
"For the issue of up to 25,000 Shares at an issue price of $0.004 per Share to raise up to $100."

Also, market depth shows a number of buyers ordering 5 cents worth of shares.

Is there a good explanation for either of these things?
 
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