Kibo Energy Share Discussion Threads

[yaki] 11/7/2023 15:50

Kibo is waking up. Looks like all the trades are buy as could buy at 0.005p this morning!

[itsmespot1] 11/7/2023 10:18

That's was a thumbs up symbol, came out as a question mark..lol

[yaki] 11/7/2023 09:10

Kibo is owed 1m+ by Mast and owes Riverfort like 800k. So once Mast JV is signed, I expect Kibo to get its money from Mast, either by placing shares or Mast using cash to pay.

And I wouldn't discount Katoro and Blyvoor. With Peter Skeat gone, and PAF not proceeding with tailings, it can only mean that the gold IPO is back on. Impo


DPR1881 10 Jul '23 - 20:05 - 8140 of 8141

@YAKI - Yes indeed Mast is now ticking up, I suspect there is some "insider trading" there always is !!

Your are right the question is when will Kibo get dragged up with it?

My guess is that only when the Mast JV signs and then not to the full extent you would expect to see on such an apparently positive correlation due to the debt on Kibo's balance sheet.

[itsmespot1] 11/7/2023 09:01

How and where is Kibo's debt held.Thanks in advance

[dpr1881] 10/7/2023 20:05

@YAKI - Yes indeed Mast is now ticking up, I suspect there is some "insider trading" there always is !!

Your are right the question is when will Kibo get dragged up with it?

My guess is that only when the Mast JV signs and then not to the full extent you would expect to see on such an apparently positive correlation due to the debt on Kibo's balance sheet.

[yaki] 10/7/2023 16:09

Mast is doing pretty well today. The deal must be pretty close!!!

Kibo’s 125m Mast shares worth 2.1m, vs Kibo market cap of 1.9m!!!

And Kibo has USE, Kat (Blyvoor looks still promising, impo)+ 1m owed by Mast!!

[lurker5] 09/7/2023 11:24

The 5 times premium was itself a twisting of reality. All explained in my original MAST posts. (although I see some of them were removed by the inadequate board meister unprepared to see his dream squashed !)

[dpr1881] 09/7/2023 09:40

@Lurker5 I agree that the original consideration for 40% interest in Mast was beyond ridiculous but weren't the shares issued at a 5x premium so the effective consideration is somewhat more reflective of reality? That said I honesty still believe the Mast is the only way out of this mess for Kibo shareholders. My money is on announcement this week on the JV

[lurker5] 08/7/2023 15:08

If nothing else (ignoring a lot) it was the fraudulent use of shareholders money to pay an illiterate and exorbitant price to buy Bordersley from his Seth Efrican Anderton-on-Vaal chums that should put him behind bars.

[dpr1881] 08/7/2023 13:44

@Lurker5 Kibob= Knowledge In Bullsh!t Out

[lurker5] 07/7/2023 09:16

More than £60m. Its not bad luck either. Its loss of faith due dishonest number spins and dodgy broker puffs.

[dpr1881] 07/7/2023 08:25

I noted the following in the RNS of 3 July

Southport (10 MW, 2 MW long-duration energy storage and 5.5m m3 bio-methane)

"Funding constraints, notably as the results of delays caused by shareholders not being able to cast their votes, resulted in no, other than in-house project planning, work being performed"

Is this LC speak for "Eqtec have realised that I am wearing the Emperor's New Clothes, they about to pull the plug on transaction and I will blame shareholders for losing over £60m of their money"?

[short6] 04/7/2023 18:26

Lol. Coetzee’s made more money out of Kibo over the last 10 years than it’s present market cap.
What a con artist.

[lurker5] 03/7/2023 10:57

Impressive list of 'projects'. But where is the money ? - and difficult to believe that the BFS for Mbeya - which was for a coal-based plant using coal from under its feet already paid for, and based on 2016 prices, can be applicable for a different fuel from who knows where, today ! But the plans might be saleable.

[lurker5] 02/7/2023 10:39

I think DPR has been grasping at the Mast straw ! I think it will become waterlooged soon and sink to the depths - Pity it won't take LC with it. Steve is right. LC is a 'lawyer'(he's certainly not a numerate business man) yet in the one thing a lawyer should be proficient - due diligence - he has failed abjectly. Blyvoor, Bordersley, TanzElect, and the failed gold mining wheezes before that. Astonishing really.

[plentymorefish] 02/7/2023 10:12

If……R30;that’s about as close as anything’LC217; related seems to get……230;what a character he is!……230;

[dpr1881] 02/7/2023 09:24

For me the risks in Kibo are now too great. Mast however in my opinion is a m much brighter picture if the JV signs

[dpr1881] 02/7/2023 09:14

@stevea171 You make some valid points about Eqtec. The Mast JV is absolutely key to the survival of Kibo and Mast in my opinion. If it happens the board deserve some credit. Whilst all the previous false dawns would not fill you with confidence the Mast deal is different in that Mast is effectively selling existing projects to the SPV and starting again. On top of that Mast gets paid to manage the projects sold to the JV and keep 25%.

[stevea171] 01/7/2023 19:36

DPR. Yes, Eqtec are at fault for agreeing to Kibo's participation in Billingham without doing any due diligence it seems and then compounding the problem by agreeing to their participation on the Southport project.
In some ways EQT is like Kibo. It has been trying to 'big' itself up by announcements and projects without regard to their viability or building a company in a measured step by step process.
EQT have now fallen on hard times, due to lies, umpteen failed timelines and successive cash raises and loans that have diluted shareholders into the ground and which the market will not forgive easily. Sound familiar?

One difference to Kibo is they say they have now completed a project though 6 months late and with (so far) non disclosure of financial implications.

Fwiw I agree with the sentiment of this board that LC should be stopped before he conns any more investors and that his 10 year track record should count for something that would debar him from ever again becoming a director of a public company. best wishes.

[dpr1881] 01/7/2023 14:49

@stevea171 Can you blame Eqtec ? first Kibo is on the brink of acquiring Billingham then Southport and all the time Kibo have not the equity to put into the deals. The board might blame shareholders but had they have actually delivered on Mast or another project then the shareholders would not be facing total dilution and might support a placing. It seems the only way the Board can get a resolution passed in this regard is to issue 500m shares to themselves first for half nothing.

[lurker5] 30/6/2023 15:18

Don't think anyone would want Kibo's chunk of Mast. As (not) an aside, interesting to note that whereas LC and co trumpet NPV's as the basis for their 'valuations' (notwithstanding they are not a valid basis for price to be paid - but let that pass) and use a discount rate (the lower, the higher the 'value') of I think 5% ish for Borderly and not much more for the others, the more reputable peaker operators use a much higher - ie more conservative - rate eg Harmony Energy Investent Trust (whose shares have tanked) uses above 10.5%. ie an already dodgy company uses a dodgy methodology to puff its assets. Just one reason why no sensible operator would buy (at its current market value anyway)

[stevea171] 30/6/2023 15:00

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.

[dpr1881] 30/6/2023 14:39

@Yaki Agree 100%. If the share price of mast bounces kibo should consider selling down it shareholding otherwise this could be a death spiral.

[yaki] 30/6/2023 08:27

MED JV is key. Let's hope/pray it happens.