Kibo Energy Share Discussion Threads

[uknighted] 28/6/2019 09:53

Lurker when shares are consolidated the nominal value consolidates also.

[yaki] 28/6/2019 09:42

Lurker

What about the possibility of setting up Bordersley and selling the SPV to a specialist infrastructure investor? Ie flipping it?

If they can sell it for a reasonable % of NPV, once is up and running, that can bring a few mlns easily.

Probably why they brought it under Kibo - ease of doing the deal + offset against Kibo tax losses?

Just speculating but have seen it before, in a related sector

lurker5 28 Jun '19 - 09:28 - 1584 of 1586
0 0 0
UKN - because they can't issue at below par (about 1.3p) and there's little chance the shares will stay at that level, especially when the market realises how much they're going to have to raise !

[yaki] 28/6/2019 09:38

At the investor event was interesting that the Benga guy, said that LC was known to do things much much cheaper. I think he mentioned that expected the DFS to costs 1m USD vs 3m USD for a typical such project.

Just from memory

[yaki] 28/6/2019 09:36

But they said that DFS was ready, so how they can get it and not pay for it?
Even isn't a STEAG and KIBO problem. As as far as Benga is concerned, they spent up to 1m and produced the DFS?

lurker5 28 Jun '19 - 09:26 - 1583 of 1584

I think it means they haven't yet paid their £1m share of the DFS and might never do so !!

[lurker5] 28/6/2019 09:28

UKN - because they can't issue at below par (about 1.3p) and there's little chance the shares will stay at that level, especially when the market realises how much they're going to have to raise !

[lurker5] 28/6/2019 09:26

I think it means they haven't yet paid their £1m share of the DFS and might never do so !!

[yaki] 28/6/2019 09:23

lurker

I presume you mean this:

Benga Power Project
Kibo entered into a Joint Venture Agreement (the ‘Benga Power Joint Venture’ or ‘JV’) with Mozambique energy company Termoeléctrica de Benga S.A. to participate in the further assessment and potential development of the Benga Independent Power Project (‘BIPP’). In order to maintain its initial participation interest Kibo is required to ensure funding of a maximum amount of £1 million towards the completion of a Definitive Feasibility Study, however this expenditure is still discretionary.


So my read is that Kibo needs to do the DFS (which I believe is done) and pay the bills towards it, up to MAX 1m
So if they can do it for say, less than that, that should be OK

I don't understand the last bit though - "... however this expenditure is still discretionary."

Anyone any idea?

[uknighted] 28/6/2019 08:55

Lurker, why the need for a share consolidation in order to raise funds?

[lurker5] 28/6/2019 08:43

Annual Report
Seasoned investors look at the notes at the back.
Clappies look at the spin at the front. (they wouldn't understand the notes)
- eg Note 25. Benga £1m committment for DFS to maintain 65% share is 'discretionary' (ie if no cash, Kibo might lose it).
Except that the spin says DFS has been completed and is being studied. Which is it ? Maybe the DFS is complete, but Kibo hasn't paid its share yet.
- and note 24 re Sanderson 'facility'. (also page 23) Only £80,000 left to draw down of the original facility, after which only on a case-by-case basis agreed by Sands.
In other words Kibo definitely in stranglehold by Sands, who certainly won't enter into any more deals at 5.25 P !
So the Sands facility won't avoid need for a Kibo cash raise (in turn needing a share consolidation and shareholder meeting)
All in all - the notes show a dodgier condition than the spin ! (as usual - and that's without the auditor's opinion of MCPP 'value' (note 10) as being way below Kibo's 'spin' when buying back Sands' stake.

[aimchimp] 28/6/2019 08:02

YAKI looking at the track of you and your happy clappy friends telling people to load up on more golden tickets all the way down from 9p as they were a 'bargain' I don't think you should really be one to say that buyers at any price are in the right or in the wrong do you? It's certainly not a positive that someone wants to punt on a trade knowing the lowest price the placing can come in?

[yaki] 28/6/2019 07:58

My dear Chimp, you should have told the poor buyers of 2m shares at the close, they shouldn't have spent their hard earned 22k by buying at 1.1p but rather than that wait for a lower price.

You see how much more good you can do!

AIMChimp 28 Jun '19 - 07:29 - 1576 of 1577

I wonder how many more % it will drop today these ramps and spikes only serve the traders who pump and dump but the long suffering long term holders are left holding the pieces tick tock

[yaki] 28/6/2019 07:51

all this will change, one day.

have you got any views why the sudden change of taking Bordersley inhouse rather than as part of MED?
Tax? Or anticipated transaction?

Before I get accused by anyone, these are just my thoughts and views. Please ignore them if you wish

lurker5 27 Jun '19 - 17:36 - 1574 of 1576

Look at all those spikes the last few years - never held for more than a few days ! Must be a terrible smell of burnt lemmings around somewhere.

[aimchimp] 28/6/2019 07:29

I wonder how many more % it will drop today these ramps and spikes only serve the traders who pump and dump but the long suffering long term holders are left holding the pieces tick tock

[woolybadger62] 28/6/2019 07:05

72 pages of rubbish is annual report

[lurker5] 27/6/2019 17:36

Look at all those spikes the last few years - never held for more than a few days ! Must be a terrible smell of burnt lemmings around somewhere.

[yaki] 27/6/2019 16:12

dave,
perfect timing - the top and now the bottom.



dave4545 27 Jun '19 - 15:29 - 1572 of 1572

Traders dream. I sold some yesterday for 1.533p, bought them back for 1.045p just now

Wait for next spike and rinse and repeat

n.t to buy at 1.05p now

[dave4545] 27/6/2019 15:29

Traders dream. I sold some yesterday for 1.533p, bought them back for 1.045p just now

Wait for next spike and rinse and repeat

n.t to buy at 1.05p now

[muddyfox0151] 27/6/2019 15:21

Are the black buy or sells ?

[woolybadger62] 27/6/2019 15:16

Yaki this is where u have it wrong lower price and soon bust

[yaki] 27/6/2019 14:37

What defeat? Lower share price is great - when you are buying!!!

I am loving it!

Woolybadger6227 Jun '19 - 14:18 - 1567 of 1568

Yaki-yaki

Accept defeat graciously

This pile of dung is falling by the minute


Hence why people cannot get out fast enough

Some were too slow yesterday


Now 1p soon under 1p

[woolybadger62] 27/6/2019 14:18

Yaki-yaki Accept defeat graciously This pile of dung is falling by the minute Hence why people cannot get out fast enoughSome were too slow yesterday Now 1p soon under 1p

[yaki] 27/6/2019 13:50

Woolybadger62
How's your DAY TWO on advfn going? You seemed to learned a lot to pass your words of wisdom as advice

Woolybadger62
Member since: 26 Jun 2019

[woolybadger62] 27/6/2019 13:36

Yaki best of you just shut upIt's hard for you and wimbo to take on board that you both with your hundreds of top ups in the 4/5/6/7/8Has got you no whereAll you have left is "hope"But you know in your heart that this is deadSmall spikes and that is itAs for 10pThat is just sheer fantasy I'm sorry yaki but you need to face the truth

[yaki] 27/6/2019 13:01

lurker
6m was the NPV project, ie what is left after all the costs incl capex are paid off, pre tax, I thing

I am wondering whether this is not a tax thing, ie any revenue from it can be offset against Kibo's losses as if it were under MED, would have incurred corp tax?