Kibo Energy Share Discussion Threads

[cj41] 07/5/2022 02:44

I may be stating the obvious but surely the change in the EQTEC relationship should have been communicated to KIBO shareholders. The contempt shown by LC never ceases to amaze me yet the guy remains untouchable. The whole KIBO saga brings into question the AIM governance with regards to what CEO's can and cannot do. Least of all they should be held accountable for repeatedly making statements that are shown by the passage of time to be ridiculous, over-optimistic or just misleading. I am not suggesting that LC has ever deliberately mislead shareholders but the hit rate of projects, relationships, funding and plans failing must indicate some serious issues somewhere. If there are 3rd parties able to repeatedly benefit from multiple placings and other fund raising which are shown to have been of no benefit to the company or its shareholders that should raise alarm bells somewhere

[stevea171] 06/5/2022 16:18

Yaki/IATB. Announced by way of a written answer to an EQT AGM question. A politician's diplomatic answer that tells you very little about how this exit came about.

36 Q&A's from EQT's Investor Meet Company last month now on line;


Q3: Does Kibo hold an option to become the major shareholder in Billingham and if so are they funding the ongoing costs?

The announcement we made in late 2021 indicated that we had signed a conditional term sheet with Kibo for a potential investment into Haverton WTV, the SPV (special purpose vehicle) for the Billingham Project. Since then, the project development strategy and potential has significantly changed. Both Kibo’s and EQTEC’s business priorities have resulted in the parties’ putting on hold any such investment. It remains EQTEC’s intent to sell project SPVs to one or more investors at the earliest possible stage of project development, provided such sale supported the advancement of the project and EQTEC’s interests in it. EQTEC would consider any future proposals in that context.

[yaki] 06/5/2022 15:59

stevea17

RE
"....
EQT now says that this sale of a 54% stake in the Project SPV to Kibo is not going ahead but other alternative buyers are welcome.

Surprise .... surprise?!!"

Has this been announced by EQT as I can't find anything.

Having said that, I won't be surprised at all. When it was announced, I couldn't believe the stupidity of the deal - 5m tiny company like KIBO funding a 100m company project, with project needing 100m+ in funding!

[stevea171] 06/5/2022 15:25

IATB. Yes, huge let off for EQT.

I have followed this BB for quite some time because of my fascination with the management here that must be going for a Guinness World Record of 10 years achieving nothing except raise funds, waste the money then pivot to new projects, trash the sp, no accountability or effective communication with shareholders, ...... repeat countless times.

[stevea171] 06/5/2022 15:03

You are unlikely to hear this from LC but another of his projects has failed to materalise after announcement but before it can get to the starting line.

16/9/2021. EQTEC plc is pleased to announce that it has signed a Heads of Terms with a strategic investor, Kibo Energy plc, for the proposed 25 MWe Billingham waste gasification and power plant at Haverton Hill, Teesside, UK.

It is expected that Kibo will acquire a 54.54% equity stake in the Project SPV;

To acquire its interest in the Project SPV, Kibo will contribute £3 million, subject to securing such funding, to be paid as an equity subscription to acquire shares in the Project SPV;

Louis Coetzee, CEO of Kibo, commented:
"Kibo's commitment to the EQTEC project in Billingham is clear and marks a key milestone in our new corporate strategy to solely invest in commercially-sound, sustainable clean energy projects. Our present focus is primarily on projects in the UK and Africa that will realise their value in the near term, within 18-months. We are very pleased to have joined forces with leading player EQTEC to invest in and develop this plant further, and additionally see potential for us to roll out its Advanced Gasification Technology to our Africa projects and the Africa market in the future. The acquisition aligns perfectly with Kibo's existing corporate strategy and more specifically with our current UK project focus. The Company is also very pleased with the progress it has already made to secure the funding required for this transaction."

EQT now says that this sale of a 54% stake in the Project SPV to Kibo is not going ahead but other alternative buyers are welcome.

Surprise .... surprise?!!

[rtok] 06/5/2022 13:42

Enjoy the weekend all

[rtok] 06/5/2022 13:38

It is pretty childish, I would happily call a ceasefire but I don’t think the others will stop.

Let’s hope for some news soon so we can get down to business.

[frankandbeans] 06/5/2022 13:16

Any relation to Ace Ventura or one of their other multi IDS?

No, thought not.

[frankandbeans] 06/5/2022 13:13

GforS I am not your “mate” and you know exactly why I post here, and that’s to stop parasites rolling newbie investors. But for some reason you take issue with this, because of course, my opinion differs to yours and I have to date been proven right. There’s been several posters over the years I see that have explained to you why this is a poor investment choice, all the way down from 5p, yet you persist in promoting it and calling it a strong buy.

Save some face and know when to fall it a day, your current investment may be a 100% write off yet you STILL claim it’s going to relist and place you in significant profit!

You were even selling when telling others it was a strong buy!

And I suspect you don’t count your previous write off in with your average when you look at your account balance, because out of sight out of mind isn’t it?

Pathetic.

[sirianbotham] 06/5/2022 12:38

RTOK you're as bad as the rest of them. It's pretty childish really.

[guitars4stars] 06/5/2022 11:58

Vague & not a great deal without more detail

[guitars4stars] 06/5/2022 10:56

So Frankie why do you try be one of the guys here acting all gate keeper edgy or white knighty - if you have no interest whatsoever at all in Kibo Energy.You alright mate or need to chat?

[rtok] 06/5/2022 10:51

Ah yes, that was your even less competent side act - “I *am* a successful investor” Iamthebest. It’s easy to confuse the two of you. Please send him in let’s see if he can do better.

#clowntwins