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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Kibo Energy Plc | KIBO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.0375 | 12:17:48 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0425 | 0.0375 | 0.0425 | 0.0375 | 0.0375 |
| Industry Sector |
|---|
| MINING |
| Top Posts |
|---|
Posted at 16/1/2024 17:40 by lurker5 I see you can 'BUY' - what a cheek - so-called 'RESEARCH' on Kibo via Research Tree ! Don't bother. the broker has got Kibo wrong - very wrong - consistently for nearly ten years. Showed no understanding of the implications for shareholders of its 'projects'' appetite for their funds and resultant poisonous share dilution, which will be even more toxic from now on. So this is a early 'puff and place' warning.'Research' probably doesn't disuss the only viable option which is for Louis to sell off its undeveloped schemes and return whatever cash to shareholders. And then retire disgracefully. |
Posted at 11/1/2024 10:38 by yaki It must be getting embarrassing for Riverfort too. Their reputation and 1m is on the line!I am sure it will be in their interest to have a competent team to run Kibo?!? As they can make more money! |
Posted at 11/1/2024 10:37 by yaki Based on recent trading more like 0.034p ishBut yes, what a sxxxty deal. Kibo BoD should be ASHAMED and RESIGN! |
Posted at 26/10/2023 09:03 by lurker5 Selling down Mast stake below 50%Not sure if this now means Mast will be deconsolidated from Kibo's accounts(ie won't be able to pretend Mast's finances are its own) . But with management control even below 50% it probably will still be considerd a controlled subsidiary and not an associate. It's important for governance and the way Kibo will present its finances. But the forced sale speaks for itself about Kibo's own dire situation. PS. If selling Mast down any further doesn't affect the subsidiary/Associate situation, Kibo might be selling more. It's selling now, obviously because creditors are pressing and threatening bankruptcy. |
Posted at 06/10/2023 09:21 by lurker5 Be careful. circa £300,000 in the context of Kibo's £142,000 monthly cash burn (excluding Mast's)- ie over £400,000 up in smoke since end June when Kibo (excl Mast) was c £2.9m in the red - won't go vary far. And Kibo's 35% of Mabesaweka (Botswana coal resource) is 294 M tonnes whereas Rukwa (Mbeya) is only 110 M tonnes. With Kibo and Mast such a toxic, entangled, mess, it's essential to look at their respective balance sheets. Then you'll see how likely is bankruptcy and, if not, why an enormous cash injection is required. That's because any cash into Mast (not enough as it is to fund any more projects) can't be used to bail out Kibo, and if 'lent' to Kibo, won't be available for any Mast projects. As I say. Look at both balance sheets and the small print and you'll understand why its sensible to avoid both companies. |
Posted at 21/9/2023 09:14 by lurker5 I'm not an accountant, but can do the sums. An accountant would tell us the law relating to parent and subsidiary companies - esp irt Kibo and Mast where the 57% subsidiary (100% consolidated in Kibo's accounts) is a separate listed company. In my view that means Kibo can't dip into Mast's funds for its own use - yet the main reason it gave in its 2022 accounts for 'continuing as a going concern' in the face of a big liquidity deficit was its expected injection by Seira into Mast. But the injection not only isn't into Mast itself (but only into the seperate jv SPV's) but also certainly can't be into Kibo.Similarly the cost repayments will be to Mast and not to Kibo "the Institutional Investor recognising and reimbursing to MED a portion of its actual historic project acquisition and development related costs" So it looks as though Kibo itself is truly bust unless it sells something (Mast or its other projects) or raises a big chunk of cash. How much longer it can pretend it is a 'going concern' I don't know. Its been a long time already. (and no wonder Charlemonte (David Russell) - Irish company insolvency specialists - is in there. It probably views its Kibo shareholding as its non-returnable entrance fee for the bigger 'restructuring' pickings) |
Posted at 19/9/2023 14:27 by renewables1 Lurker 5. Vid. Kibo RNS dated 12 July 2023 "A part repayment of £800k to its majority shareholder, Kibo Energy PLC ('Kibo') with regards to the shareholder loan owing. Resultingly, this will reduce the total amount owing to Kibo to c. £432k." IMO there won't need to be a cash raise if Kibo gets the above funds from Mast upon successful completion of the JV. |
Posted at 04/8/2023 09:46 by lurker5 I missed this ! - because lost day to day interest. But I first predicted Kibo would eventually go bust about 5-6 years ago. Why ? Because LC had shown he hasn't the slightest idea how to financially manage a basket of basket cases..Almost Bust 29th June (Alliance News) - Kibo Energy PLC on Thursday it has sought funding to address a liquidity crunch, as the company continued to post a loss in 2022. Galway, Ireland-based Kibo has energy projects in Africa and the UK. It said liquidity constraints resulted from the "significant" capital required to develop its projects. As at December 31, cash and cash equivalents were GBP163,884, compared to GBP2.1 million a year earlier.The group was technically insolvent, as total current liabilities of GBP4.6 million far exceeded total current assets of GBP391,107. Kibo said it has embarked on funding initiatives to continue development of its projects.It is waiting for the completion of a joint venture agreement between its subsidiary Mast Energy Developments PLC and an institutional investor to a value of GBP33.6 million. Heads of terms have already been agreed, it said. "Following from the losses incurred in the current financial period, coupled with the net current liability position the group finds itself in as at December 2022, these conditions...indicat Kibo on Thursday said pretax loss narrowed to GBP10.9 million in 2022 from GBP23.1 million in 2021. Revenue remained relatively insubstantial, though it surged to GBP1.0 million from GBP3,245. Kibo Chair & Chief Executive Louis Coetzee said the company has made "significant" progress in waste-to-energy, biofuel, reserve power, and battery storage projects. By Artwell Dlamini, Alliance News reporter |
Posted at 30/6/2023 15:00 by stevea171 Kibo's AR re qualification of audit report concerning Shankley for the EQT project at Southport. Kibo doesn't have a brass farthing to pay anything to Shankley so I'm not surprised Shankley are digging in and refusing to make financial disclosure."Ongoing dispute". Is this yet another failed Kibo project looming?!: Southport - Waste-to-Energy Project (UK) Kibo has entered into a share purchase agreement to acquire Shankley Biogas Limited, securing the rights to the Southport project-a 12 MW Waste to Energy initiative near Liverpool, UK. The project aims to generate bio-methane, power a 10 MW CHP plant, and a 2 MW battery storage facility. Shankley Biogas Limited has secured a favourable conditional Power Purchase Agreement (PPA) and Gas Purchase Agreement (GPA) with a reputable buyer. The project has received full planning permission and has established grid and gas connection points. Financial estimates demonstrate promising returns and value for the project. With reference to the qualified audit opinion on the Company's investment in Shankley Biogas Limited, Kibo was unable to provide the auditor with sufficient appropriate audit evidence about the carrying values of the investment in Shankley and its associated assets and liabilities, as included in the Group and Company Balance Sheet as at 31 December 2022. This is because of a dispute with the vendor due to the vendor's inability to provide sufficient and reliable financial information for Shankley Biogas Limited, despite numerous requests in this regard, and the Company being unable to agree an option to lease agreement in respect of the site with the vendor. The Company is currently engaged in constructive negotiations to reach an amicable resolve for the ongoing dispute and is confident that this will be settled soon. |
Posted at 06/4/2023 17:04 by dafad TIDMKIBORNS Number : 6826V Kibo Energy PLC 06 April 2023 Kibo Energy PLC (Incorporated in Ireland) (Registration Number: 451931) (External registration number: 2011/007371/10) LEI Code: 635400WTCRIZB6TVGZ23 Share code on the JSE Limited: KBO Share code on the AIM: KIBO ISIN: IE00B97C0C31 ('Kibo' or 'the Company') Dated: 06 April 2023 Kibo Energy PLC ('Kibo' or the 'Company') Kibo Project Update Kibo Energy PLC (AIM: KIBO; AltX: KBO), the renewable-energy-foc Portfolio The Kibo Group strategy, as previously announced in a Company RNS dated 19 April 2021, is focused on developing, owning and operating sustainable energy solutions that can immediately and progressively address the acute energy challenges in sub-Saharan Africa, the United Kingdom and Ireland. The table below indicates the status of Kibo's Project Portfolio at present. Timelines beyond Q1 2023 remain as advised on 1 February 2023 and the Company will advise should these change in light of the below. This does not include opportunities that are currently the subject of advanced due diligence and commercial consideration. &n |
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