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Kaboko Mining Chairman Builds Up Shareholding On Market

Kaboko Mining (ASX: KAB) executive chairman Jason Brewer has acquired 750,000 shares and 500,000 options on market since the beginning of this month.

The acquisitions bring his total holding up to 6.6 million shares and 2 million listed options exercisable at A$0.03 on or before 30 June 2013.

Brewer acquired the first lot of 250,000 shares at A$0.015415 each, or A$3,853.75, on 2 October and the second lot of 500,000 shares at A$0.0155, or A$7,750, and the 500,000 options at A$0.003, or A$1,500, on 12 and 15 October.

Kaboko was late last month granted the Certificate of Registration (Investment Licence) by the Zambian Development Agency for its subsidiaries, Mansa Manganese Mining and Zambian Manganese Mining.

The Certificates grant fiscal and nonā€fiscal benefits that are expected to significantly increase the economic potential of Kaboko's Emmanuel and Peco Manganese Projects when compared to other jurisdictions.

Kaboko has a 51% interest in Mansa Manganese Mining and Zambian Manganese Mining, with the option to increase this holding to 75%.

The subsidiaries hold licences that form part of the Emmanuel and Peco Projects. Impondo Zambia also holds licences that make up the balance of both projects, with Kaboko holding a 75% interest in this subsidiary.

Kaboko has also signed a joint venture agreement for an initial 51% interest in the Rockstone Manganese Project, a large scale prospecting licence 120 kilometres north of the company's Peco Manganese Project in Zambia.

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