Kibo Energy Share Discussion Threads

[lurker5] 12/4/2023 18:44

There are plenty of those. LC must have clocked up 'relationships' with more hangers-on (brokers, PR outfits, self-styled 'bankers' (substiture "w"), Nomads, etc etc (all at tthe dodgier ends of their domainsand even then were the ones to disassociate ) in the whole history of AIM (and Plus before it ad infinitem)

[dpr1881] 12/4/2023 15:15

@Lurker5 I suspect that USE funds will originate from the usual suspects in the UK!

[lurker5] 12/4/2023 14:39

What I mean is where do the shares come from ?

[dpr1881] 12/4/2023 14:02

@Lurker. I think the problem is you can only place with South Africans on the JSE. I might be wrong.

[lurker5] 12/4/2023 13:06

DPR I've always thought Kibo should go back to SA and delist here. I think LC came here originally because he thought (rightly then) AIM was a soft touch. If funds for USE are raised from SA investors via JSE, how would that work ?

[dpr1881] 12/4/2023 11:27

@Lurker No problem.

Interestingly the shareholding of Euroclear Nominees Ltd fell from 2,674,896,626 at 30 June 2022 to 2,280,195,173 as of yesterday. Correspondingly the shareholding of PLC NOMINEES (PROPRIETARY) LIMITED (JSE Nominee company) increased from 274,400,595 to 674,128,714.

I wonder who that could be? Perhaps it explains the recent "UK corporate regulatory issue" with voting at the EGM?

[lurker5] 12/4/2023 10:59

Thanks DPR - wrote this just before you posted)
Correction. It seems its not Sanderson behind this latest wheeze, so my apologies to him, though at June last year he still held 12.8% of then 3,039.2m shares so c389m shares, with no notice he has sold since. Instead it seems the 'Institutional Investor' is Riverfort, which has never beeen anounced but I think it was Yaki who said so. Riverfort has also (like Sanderson) been behind dodgy 'research' outfits who have disastrously for anyone who believed it, puffed power and project related shares, in its case Corcel via 'Align Research' (now also, like Doh!fort, thankfully gone, unlamented, and hopefully forgotten. - Although watch out for ACF Research, of similarly disastrous EUA notoriety, being wheeled in again for USE. It was also, briefly, wheeled on by Schaffalitsky for Kibo last year)

Just as disastrous is the tremendous 31.5% plus further dilution now being fostered on those poor, original Kibo shareholders. I have such a small holding (having sold 95% at over 9p back when) that I'm not bothered to vote any more, but anyone still clinging on (Yaki ?) can tot up the further dilution to come - just from this latest handbrake turn without counting what will be needed to keep a share in USE - but see below)

The RNS says total shares will now be 3,995,991,683 v 3,039,200,000, but on top will come later the new warrants now being issued amounting to (I make it) another 1,181,000,000 odd. ie potential shares is now over 5 billion ! Phew !

As for USE, the IPO will assign some value to Kibo's current ownership of the renewable projects as its 'share' initially of USE. Its that which needs to be viewed skeptically (just as MAST should have been) in light of whatever is disclosed in the iPO document and what is puffed by the accompanying 'research'

Until then !

[dpr1881] 12/4/2023 10:38

@Lurker the infamous "institutional investor" is not Sanderson directly but rather Riverfort Global Opportunities PCC Ltd.

[lurker5] 11/4/2023 09:40

You ain't seen nothin' yet Plenty ! Wait 'til shares needed to fund USE's various wheezes becomes known. Even Einstein couldn't grasp the concept of infinity. This all has the mark of the 'Institutional Investor' (aka Sanderson aka Mr Malik) positioning to get his own back on LC. Long and intriguing story going back to 2016 when Sanderson first got trapped into backing LC over Mbeya, since when, like a fly in amber, he has been drawn in further and further to protect his 'investments' but has clocked up ever increasing losses. Hoist by his own petard, to boot, because it was his Doh!fort Securities (now deceased and unlamented) that was trumpeting a Kibo share price of 30p ! - (and drew in all those poor souls over on LSE who only reccently have accepted their very expensive mistake)

[plentymorefish] 11/4/2023 09:35

55 billion……;goodness me……

[purchaseatthetop] 11/4/2023 09:30

Plenty more fish. Just 3b. Nothing like SYME with 55b odd.

[plentymorefish] 11/4/2023 09:19

I wonder what the world record for the number of shares in issue is……perhaps kibo could ‘win’ that competition?!……

[cj41] 10/4/2023 11:26

There have been so many 'unfulfilled' statements made by LC over the years. I wouldn't trust anything that KIBO says. There are only so many chances an individual can be given and, IMO LC has had far too many already. Time for him to actually read the room and call it a day.

[lurker5] 09/4/2023 13:09

He won't give you the truth about the dilution involved to get any project up and delivering earnings for shareholders. In any case, are you going to conditionally buy the shares ?

[dpr1881] 09/4/2023 11:20

@CJ41 I completely agree, but that is not to say I would not back LC with conditionality if I thought he would delivery a project and shareholder value with it. Despite previous discussions between us going nowhere I have reached out

[iceagefarmer] 07/4/2023 08:00

what about MAST?

[frankandbeans] 07/4/2023 07:56

Still limping on then? Tick tock, won’t be long now.

[paulsavannah] 06/4/2023 20:55

Yes definitely I would rather see it go bust than give LC another penny. He's a complete scam artist. 250 pounds worth of volume traded today speaks volumes.This outfit has been wrote off in the minds of anyone with a bit of sense ages ago. Anyone who invests going forward deserves to lose their money.

[cj41] 06/4/2023 18:37

If I had a pound for every corporate update and another for every missed date on every project timeline my huge loss on this pile of manure would have almost been wiped out. The fact that LC still doesn't get that shareholders refuse to back HIM personally beggars belief. There is no question that I would rather see the company wound up rather than see LC provided with more funds to use on anything but creating shareholder value whilst he draws, IMO, a ridiculous salary for the size of the company and his own atrocious performance as CEO.

[lurker5] 06/4/2023 18:22

He's a lawyer. Fits on both counts.

[dpr1881] 06/4/2023 17:54

@Lurker5 & Plentymorefish The irony of the statement was not lost on us as a TR1!

It reminded me of a quotation from the cynical bear "Is Louis Coetzee a liar or just a bit dim?"

hxxps://shareprophets.com/views/32281/kibo-mining-is-louis-coetzee-a-liar-or-just-a-bit-dim

[lurker5] 06/4/2023 17:48

Well over £70m the last time I counted (inc hangers on, brokers, PR puffers, bungs to cash raisers in various forms, etc etc (not to mention our late (unlamented) chairman who did bu--er all to earn his mega thousands except write a glowing end of term report for his backward protoge). But that was sometime ago - so I've lost count.
NB. To add it all up remember there have been 2-3 big share consolidations along the way which artificially raised (for a brief moment) the share price and obscures the real number of shares now in issue and the extent of shareholder losses.

[plentymorefish] 06/4/2023 17:33

Remind me how much in total kibo have spent since IPO with zilch to show for it?……and he has the cheek to infer that shareholders are preventing him from hitting stated timelines…R30;FCA should have got a grip of this one years ago……

[lurker5] 06/4/2023 17:28

PS. He needs that authority, because Kibo needs to raise its capex contribution (as equity in the project) without which no bank will lend. (Eqtec has the same problem of course) The result, as all in KIBO have painfully learned by now and newcomers not yet, is more and probably mega share dilution coming down the track - or else it's curtains !