Kibo Energy Share Discussion Threads

[jammydodger1] 23/9/2019 16:44

Yaki your holding ontoBob hope and no hopeToday another 1.4m sell from someone who had enough of the lies and bullThis is on a downward trend and lc knows it

[yaki] 23/9/2019 15:57

I don't think I have given him carte blanche. Several times made it very clear that we are all under water and need some really share price raising actions is needed, apart from fundamentals
-BoD restructure
-cornerstone/blue chip s/hs
-self sustaining business model
- no more projects until 1-2 over the line

etc etc.

LC says agrees with me and it is my call to decide if I believe him or not. Like all the other investors here.



lurker5 23 Sep '19 - 15:51 - 2328 of 2328
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Yaki -If you'd stood up to the easy option Kibo wants to just keep issuing shares. LC might get the message that shareholders insist he focuses on per share value, instead of share value destroying empire building. You've now given him carte blanche to keep doing so.

[lurker5] 23/9/2019 15:51

Yaki -If you'd stood up to the easy option Kibo wants to just keep issuing shares. LC might get the message that shareholders insist he focuses on per share value, instead of share value destroying empire building. You've now given him carte blanche to keep doing so.

[yaki] 23/9/2019 14:06

Nope. We are where we are, not ideal, but I don't see what we would gain if the company can't issue shares if needs to be.

Obviously, with all the heavy lifting done etc, I can see non market funding options opening up soon.
The WB is very active in the region, eg see the transmission line news I put up today, Moz will need tons of energy to do with LNG etc, MED will be chipping in.

But let's see. It feels to me that KIBO is on the cusp of being priced to go under to re rated to more normal levels.

ALL IMPO, DYOR etc etc

lurker5 23 Sep '19 - 13:53 - 2325 of 2325
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Yaki - So you voted for a more than doubling of shares in issue and didn't even complain ! Go and stand in the corner.

[lurker5] 23/9/2019 13:53

Yaki - So you voted for a more than doubling of shares in issue and didn't even complain ! Go and stand in the corner.

[lurker5] 23/9/2019 13:51

I see our sage on the other side is expecting 'red meat' to be thrown to shareholders at the AGM ! - Reminds of the 'curve balls' they used to expect - which all turned out to be googlies. None of them read here of course - in case it upsets their toddlers' lunchtime nap - or might even save them selves some dough

[yaki] 23/9/2019 13:45

From 1bln to 2bln was on the agm proxy form I got from my brokers



lurker5 23 Sep '19 - 12:21 - 2322 of 2322
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The RNS about the AGM listed the resolutions. It didn't say by how much the share capital would be increased. Tell us what you voted for then !

[lurker5] 23/9/2019 12:21

The RNS about the AGM listed the resolutions. It didn't say by how much the share capital would be increased. Tell us what you voted for then !

[yaki] 23/9/2019 11:29

"...No wonder Kibo hasn't said by how much it will have to increase its unissued capital before shareholders vote for it"

WRONG - it is in the circular, I read it and voted accordingly

Interims were never ready before agm. Not last year.
Results should be out in the next few days, before next Monday for sure


"...any honest company with mostly UK private shareholders would have held it in London rather than in leprechaun land)"
NOT ALLOWED as is an IRISH COMPANY. Agm needs to happen in Ireland. For someone who claims to know a lot, I thought you did.



lurker523 Sep '19 - 11:08 - 2318 of 2319
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Well Well – less than 24 hours to the AGM and still no interim results to end June (published Sept 14th last year).

All that shareholders will have is the balance sheet and cash position last December – nearly ten months ago at a time when administrative cash burn was running at over £180,000 per month (excluding exploration and development etc) and when net current assets were only £441,000. Since then £142,000 liabs hav been settled through shares, so that just on that same cash burn Kibo must now be nearly £1.5m in hock to someone which will have to be repaid or replaced through a cash raise. (31% dilution if raised t today's price - and that's without counting any development spending or investment since last December)

No wonder Kibo hasn't said by how much it will have to increase its unissued capital before shareholders vote for it, and won't give them the updated information to let them see for themselves. The situation is so serious that I wouldn't expect Shumba or Med or Shylock to be at the AGM but to have forced Kibo into some sort of deal (which couldn't possibly be to other shareholders' advantage) which might be announced at the AGM or shortly afterwards.

But of course the Happy Clappies won't go to the AGM (any honest company with mostly UK private shareholders would have held it in London rather than in leprechaun land) – and if they did wouldn't have a clue what questions to ask – such as this one !

[catchingmice] 23/9/2019 11:28

Not sure i believe he sold SXX in August for a profit unless he knew bad news was on the way in September ?Probably just covering his back on that statementI flew with Thomas Cook back in August but new something was afloat as the Trolley Dollys onboard the flight were all elderly and overweight

[lurker5] 23/9/2019 11:12

Mice - I see the twerp was also in SXX !

[lurker5] 23/9/2019 11:08

Well Well – less than 24 hours to the AGM and still no interim results to end June (published Sept 14th last year).

All that shareholders will have is the balance sheet and cash position last December – nearly ten months ago at a time when administrative cash burn was running at over £180,000 per month (excluding exploration and development etc) and when net current assets were only £441,000. Since then £142,000 liabs hav been settled through shares, so that just on that same cash burn Kibo must now be nearly £1.5m in hock to someone which will have to be repaid or replaced through a cash raise. (31% dilution if raised t today's price - and that's without counting any development spending or investment since last December)

No wonder Kibo hasn't said by how much it will have to increase its unissued capital before shareholders vote for it, and won't give them the updated information to let them see for themselves. The situation is so serious that I wouldn't expect Shumba or Med or Shylock to be at the AGM but to have forced Kibo into some sort of deal (which couldn't possibly be to other shareholders' advantage) which might be announced at the AGM or shortly afterwards.

But of course the Happy Clappies won't go to the AGM (any honest company with mostly UK private shareholders would have held it in London rather than in leprechaun land) – and if they did wouldn't have a clue what questions to ask – such as this one !

[yaki] 23/9/2019 08:07

Stars are aligning

hxxps://www.worldbank.org/en/news/loans-credits/2019/09/17/mozambique-malawi-regional-interconnector-project

"...The project will interconnect Malawi and Mozambique’s transmission systems to enable them to engage in bilateral and regional power trade in the Southern African Power Pool (SAPP)."

And starts in Matambo, TEte(!). EdM commented along the lines that export revenue in hard currency will be used in electrification of the country, ie more demand ...

[yaki] 20/9/2019 20:27

I read 1580, it is what I posted earlier on, note 25. Doesn't mean in any way that the dfs hasn't been paid or anything like that. Impo


 

 

20 Sep '19 - 18:45 - 2314 of 2314

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Yak see my posts 1580,1589,1598

[lurker5] 20/9/2019 18:45

Yak see my posts 1580,1589,1598

[yaki] 20/9/2019 17:07

I don't see it anywhere - can you prove it?

lurker5 20 Sep '19 - 16:54 - 2312 of 2312
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I explained somewhere (prob on publication) that the comments and notes in the R&A showed Benga DFS hadn't been paid.

[lurker5] 20/9/2019 16:54

I explained somewhere (prob on publication) that the comments and notes in the R&A showed Benga DFS hadn't been paid.

[yaki] 20/9/2019 16:47

I presume you refer to the text below - p69

So it says KIBO needs to spend MAX of 1m, so in theory can spend nothing, ie 0. As the DFS has been produced and being discussed with Vale and EdM, I doubt would have been released if not paid.



25. Commitments and Con
tingencies
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.

[yaki] 20/9/2019 16:37

So this is from the AR - p12

"...Since acquiring its 65% interest and taking control of managing the project, Kibo has commenced a Definitive Feasibility Study (“Benga DFS”)...."

Does it say anywhere that they own it conditionally etc?!?


lurker5 20 Sep '19 - 16:20 - 2309 of 2309
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The fact that Vale might take off power doesn't make any difference to what I said ! (Re Benga DFS -Are you saying you know it hasn't been paid for ? I pointed out that acc to the R&A signed off in June (or thereabouts) Kibo hadn't then paid its share.

[lurker5] 20/9/2019 16:20

The fact that Vale might take off power doesn't make any difference to what I said ! (Re Benga DFS -Are you saying you know it hasn't been paid for ? I pointed out that acc to the R&A signed off in June (or thereabouts) Kibo hadn't then paid its share.