Kibo Energy Share Discussion Threads

[yaki] 04/10/2023 15:49

lurker5

Good point. C 4 bln Kibo shares holders - all brainless.

Lol

lurker5 4 Oct '23 - 15:38 - 8219 of 8219

Because everyone with a brain has sold already.

[lurker5] 04/10/2023 15:38

Because everyone with a brain has sold already.

[yaki] 04/10/2023 15:02

lurker5

exactly, so why no deluge of selling?


lurker5 4 Oct '23 - 13:12 - 8216 of 8217

The whole world and all its dogs on every street in every land, now know how dangerous is this one.

[lurker5] 04/10/2023 13:23

What does that cryptic post mean Mr B ?

[lurker5] 04/10/2023 13:12

The whole world and all its dogs on every street in every land, now know how dangerous is this one.

[yaki] 04/10/2023 12:25

and no trades so far
or trades for last few days

[sirianbotham] 04/10/2023 12:04

First 'definitive' agreement he's achieved.

[sirianbotham] 04/10/2023 12:04

Wrong name bozo

[lurker5] 04/10/2023 08:48

I think that's 4 months of salaries and other overheads. Cash in to Mast already two months late (and when (if) it comes won't belong to Kibo - even though consolidated result at interims allows LC to pretend it will)

[dead duck resources] 04/10/2023 08:08

Some said the coal asset wasn't worth as much as they made out over the years. Now we see the fruits of the company's labours, sold for Botswana-listed stock worth £0.3m

I detected a sense of pride in the RNS that they managed to get this sale over the line. Louis Coatzee has delivered for his shareholders once sgain.

[lurker5] 29/9/2023 10:16

Oh Really Mr B ? You think LC's name should be protected ? Tell me then, who else it was that took cash from you et al ? - And what it was he said that persuaded you to cough up ?

[sirianbotham] 29/9/2023 10:08

I thought using people's names John was a big no no .... You tread a very fine line

[lurker5] 29/9/2023 09:59

WEll Well. No change - except even more insolvent. (Insolvency means there is no way to pay creditors.) No net assets but an overall £5.3m liquidity deficit (£3.4m due within one year). And 'going concern' keeps going but depends on Mast getting in some cash from the 'institutional investor' (in reality a one-man band non-uk resident) - which cash Kibo itself can't get its hands on because will belong to shareholders in publicly listed Mast. And some seem to believe Kibo won't need a major cash injection ! - Shares and warrants in issue already 20-times what they were back when. David Russell probably already on the job. And maybe at a loss how to prevent final demise of a twelve year gravy train for Louis and his henchmen - and City hangers on.They've all smoked a lifetime of cigars. And shareholders - ?

[yaki] 22/9/2023 07:51

no idea, buying is good but also we had 22m dump few days ago

Today's news on Mast side is not very encouraging ...


renewables1 21 Sep '23 - 14:43 - 8206 of 8206

Yaki. Today, 14 million traded on JSE so far and up 5% on LSE. What do you make of it?
Go to previous

[renewables1] 21/9/2023 14:43

Yaki. Today, 14 million traded on JSE so far and up 5% on LSE. What do you make of it?

[lurker5] 21/9/2023 09:14

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)

[yaki] 20/9/2023 16:16

Just checked - rule 18 about interim reporting res - it is 3 months.

So Kibo till end of next week to publish the interims!

[yaki] 20/9/2023 16:11

lurker5

"..If you ask me, instead of the delayed interims, we'll get a notification Kibo is technically insolvent"

what do you mean delayed interims?
Last year interims were announced on 23 Sep and they have till end of Sep/Oct (can't remember if was 3 or 4 months according to AIM rules)

Ignorance or trying to spread lies?



lurker5 19 Sep '23 - 15:51 - 8202 of 8202
0 0 0
Except that Kibo's end Dec balance sheet showed £4.6m of current liabilities against only £0.4m of current assets. No interims yet for end June (due now, surely) and if not for that £800k, would have looked even worse. So currently still in working capital deficit of at least £3.4m plus 8 months cash burn. ie either a cash raise or no ipo !

OR a rescue which will see current hoders decimated (again). Thats probably why that company restructuring specialist chappie (Charlemont Company Rescue and Insolvency Solutions has come aboard

However I may have been over pessimistic re Mbeya. because "On 2 May 2023, the Company announced that recent verification testing on selected biomass types demonstrate that the selected biomass types of not only match but significantly outperforms conventional coal in many specification categories used in industrial boilers. These verification results have shown more favourable outcomes in terms of
specifications compared to previous tests. The outcome of the previous pilot test work indicated that the bio-coal performed well above expectation over a measured three-day period, not only in terms of its combustion properties but also in terms of its physical characteristics in the materials-handling process (feeding process and ash removal to and from the boiler). The results report provided by the boiler manufacturer (Chinese) indicated that bio-fuel performed in line or better than what is expected from conventional coal, with the strategic benefit that it is a carbon-neutral ution. The positive lab and pilot tests clearly demonstrate the pontial viability to replace conventional coal with solid biofuel from a technical and operational perspective. The latest results are now being fed into the detailed
feasibility studies that are currently underway, to establish the technical and commercial viabilty to replace coal with sold bio-fuel in small to medium sized boilers"
I guess a 150MW boiler is a bit bigger than 'medium sized' ! On top of which the coal was practically free to Mbeya ! So an updated BFS would still be demanded by any project lender.

But on the other hand LC says the resurrected MOU with Tanelect" is to cover the 'design, financing, agreement on tariff'' etc so contradicting the impression given by saying there is a BFS that all is ready to go - ie LC's smoke and mirrors act continues.
If you ask me, instead of the delayed interims, we'll get a notification Kibo is technically insolvent

[lurker5] 19/9/2023 15:51

Except that Kibo's end Dec balance sheet showed £4.6m of current liabilities against only £0.4m of current assets. No interims yet for end June (due now, surely) and if not for that £800k, would have looked even worse. So currently still in working capital deficit of at least £3.4m plus 8 months cash burn. ie either a cash raise or no ipo !

OR a rescue which will see current hoders decimated (again). Thats probably why that company restructuring specialist chappie (Charlemont Company Rescue and Insolvency Solutions has come aboard

However I may have been over pessimistic re Mbeya. because "On 2 May 2023, the Company announced that recent verification testing on selected biomass types demonstrate that the selected biomass types of not only match but significantly outperforms conventional coal in many specification categories used in industrial boilers. These verification results have shown more favourable outcomes in terms of
specifications compared to previous tests. The outcome of the previous pilot test work indicated that the bio-coal performed well above expectation over a measured three-day period, not only in terms of its combustion properties but also in terms of its physical characteristics in the materials-handling process (feeding process and ash removal to and from the boiler). The results report provided by the boiler manufacturer (Chinese) indicated that bio-fuel performed in line or better than what is expected from conventional coal, with the strategic benefit that it is a carbon-neutral ution. The positive lab and pilot tests clearly demonstrate the pontial viability to replace conventional coal with solid biofuel from a technical and operational perspective. The latest results are now being fed into the detailed
feasibility studies that are currently underway, to establish the technical and commercial viabilty to replace coal with sold bio-fuel in small to medium sized boilers"
I guess a 150MW boiler is a bit bigger than 'medium sized' ! On top of which the coal was practically free to Mbeya ! So an updated BFS would still be demanded by any project lender.

But on the other hand LC says the resurrected MOU with Tanelect" is to cover the 'design, financing, agreement on tariff'' etc so contradicting the impression given by saying there is a BFS that all is ready to go - ie LC's smoke and mirrors act continues.
If you ask me, instead of the delayed interims, we'll get a notification Kibo is technically insolvent

[renewables1] 19/9/2023 14:27

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.

[lurker5] 19/9/2023 12:41

PS. Re Mbeya - about the only one of Kibo's projects that could deliver a (slightly) higher share price if developed or sold on. LC says it has a BFS - as if that's enough for financial close. But it was based on costs nearly ten years ago for a coal fired plant using Kibo's own coal under Mbeya's feet. The new scheme is for biofuels bought in from elsewhere. To burn biofuels will require a completely redesigned and recosted plant so A totally new BFS is therefore required, on top of which any previously agreed cost sharing with the original Chinese partner who was only in it to supply its own coal burning technology will be in abeyance. Another of LC's many economies with the truth - and a pretty big one at that

[lurker5] 19/9/2023 11:59

I thought everything has been on hold since the March egm delayed any chance of raising the cash needed to pay for the IPO So now the postponed egm apparently has cleared the way for a share increase, a cash raise - probably at least £1/2 million - is still needed before any such IPO, and even though Kibo might publish its proposed prospectus along with any cash raise, it won't have been vetted by the FCA. Looks like a long wait still.

[renewables1] 19/9/2023 10:09

Yaki. Brent oil now $95! Hopefully we'll get some news on the IPO of Kibo's USE soon.

[yaki] 11/9/2023 08:58

renewables

very good point. Should make the economics of it way more attractive

renewables 19 Sep '23 - 06:59 - 8196 of 8196

Yaki. Do you think the fact that Brent is $90 a barrel and climbing will make a listing of USE that much easier for Kibo now?

[renewables1] 09/9/2023 06:59

Yaki. Do you think the fact that Brent is $90 a barrel and climbing will make a listing of USE that much easier for Kibo now?