Kibo Energy Share Discussion Threads

[the_debt_collector] 04/7/2020 16:11

Saw this on LSE, poster calls the latest funding deal one of the most 'expensive & dilutive' he has ever seen.





HawaiifiveO

Posts: 1,855

Price: 0.215

No Opinion


Have been trying to evaluate the investment proposition here given recent events and the ultra low market valuation - the recent funding appears to be one of the most expensive and dilutive I have ever seen, there has not been much comment on this but if the fees, warrants and loan notes are converted into shares that could equate to over 1 billion shares being issued - circa 80% dilution for £1m.

Assume they draw the entire £1m

Fees paid in shares (drawdown & facilitation) cost £150k & £70k at VWAP, say 0.20p, would equate to 110m shares being issued

Loan note conversion at VWAP (lowest conversion price possible 0.15p) but say .20p, 500m shares issued

Most destructive are the warrants - 3 year term at .25p - 400m shares issued (Kibo would receive another £1m)

I expect Kibo to draw the entire £1m, the entities who supplied the cash have a great deal, no floor price on the fee shares, a floor of 0.15p on the notes and a possible 3 year drag on the share price with warrants priced at a modest 0.25p.

It seems Kibo really struggled to get the funding done, even at the current share price the investment proposition is modest at best.

All IMO etc.

[swerves1] 04/7/2020 14:50

Just out on Sharetalk now, a very positive interview with the CEO on Katoro.Should be good for Kibo too with their sizeable holding there...

[pakenham] 03/7/2020 20:21

monetising assets - plus katoro - released after market closed -

[cl0ckw0rk0range] 03/7/2020 09:12

That's been suggested on Twitter

[yaki] 03/7/2020 08:31

cj
no, these days all my emails go unanswered. Following me making my views on the egm and actions known.

Sad but this is how they treat their 2nd largest s/h!

cj41 3 Jul '20 - 08:27 - 3467 of 3467
0 0 0
Hello Yaki. Does anyone at KIBO communicate with you at all?

[cj41] 03/7/2020 08:27

Hello Yaki. Does anyone at KIBO communicate with you at all?

[cl0ckw0rk0range] 02/7/2020 21:08

John you shouldn't really post such libellous comments - you know they can be traced back to you, just because they haven't yet doesn't mean they won't. One must question your motive for bashing KIBO so incessantly over the years.

[dozyduck] 02/7/2020 20:37

What are you talking about Mr Clockwork Moron. Everything I post is in the public domain, available to anyone who can work out what it means. I suppose a piece of clockwork, by definition, doesn't have a brain. You've certainly never posted anything that shows you have one.
And Mr Packenham - 'undeveloped assets' don't have any 'value' until they've been financed and built.
Clue - 'financed' .means after finance (in this case £3.5m equity plus £2.5m loans per 5MW site) has been raised, Understand now ?

[pakenham] 02/7/2020 19:01

kibo now has a valuation of £25m in undeveloped assets - so multiples of that all being well. Funding sorted so just await news flow - katoro going well and worth couple of million already - but other assets much bigger.

[cl0ckw0rk0range] 02/7/2020 18:07

Someone said that he has been taken out on Twitter. Watch this space.

[uknighted] 02/7/2020 15:26

As far as I am aware yaki still holds - as a holder of in excess of 3% he would have had to notify the market if he had sold.

[cl0ckw0rk0range] 02/7/2020 14:38

Yaki sold out?

[dozyduck] 02/7/2020 14:30

kAT holding is irrelevant to Kibo's survival. It needs cash income even to pay the bills, let alone invest in any of its projects.

Anyone who thinks the Med scheme will help should carefully read the latest Plutus Powergen accounts (AIM:PPG) who is 'exiting' from its own portfolio of peak power generators due to problems and inadequate returns in the UK capacity market. Read carefully (the whole accounts inc notes) and check out its portfolio as follows (all on Companies House)

Attune Energy Limited *

Flexible Generation Limited

Balance Power Limited

Equivalence Energy Limited

Precise Energy Limit

Valence Power Limited

Portman Power Limit

Reliance Generation Limited

Selectgen Limited

Balance Power is the only co Med has created so far. Bordersley isnt' likely to do any better than these (all 5MW, some but not all of which I've ploughed through so far) and after interest on loans and management fees there is little available to pay dividends (after 3-4 yrs operation none have done so far)

So LC's boast of 'revenues' is totally misleading (as usual) Any 'revenue' goes to financiers in the form of 9% interest on the loans they put up and 'management fees' which are larger even than the loan interest. Kibo won't get any of this revenue unless it puts up the £3.5m equity needed for each 5MW plant.

You'll see all these plants have been financed initially by a Peer-to-Peer lender Rockpool Investments. No one else will do so apparently.

I don't have time to plough through all this (including all the connected parties you'll find at companies house). But I wouldn't invest another penny in Kibo (despite KAT) without doing so (You'll need to understand company and subsidiary accounts and read between the lines, as well as the maths) As for Med's chances in the capacity market auctions - over 300 obviously bigger pocketed companies tried for the last one. And Bordersley has only 'pre'-qualified for capacity payments from 2024 onwards. It'll need to show total funding and credibility to get on the final list, and meanwhile will depend on whatever take-off StatKraft can get for it. LC will never tell us of course.

Conclusion ! The usual one. Keep steering well clear of LC's dysfunctional outfit. It can only get through the next 3-4 years with more and more cash raises and share dilution.

[swerves1] 02/7/2020 13:29

Katoro’s current market cap is £4.4m and Kibo’s 45% holding there is now worth £2m
But Kibo’s market cap is only £2.74m, so should be huge upside here..

[cl0ckw0rk0range] 02/7/2020 13:18

Short if you don't think there's money to be made at these levels you are an idiot.

[cl0ckw0rk0range] 02/7/2020 13:18

What's not sensible about that?

[swerves1] 02/7/2020 13:13

Katoro Gold up 13% today. Ps. Kibo have a 45% shareholding, which on its own is worth nearly the full market cap here!

[short6] 02/7/2020 09:28

Clock is the kind of guy Coetzee thrives on and there are many more like him, here and at KAT.

[cj41] 02/7/2020 09:17

So you don't have a sensible reason. I thought not.

[cl0ckw0rk0range] 02/7/2020 08:23

They sold down obviously

[cj41] 02/7/2020 07:57

So why do you think the big sells happened? The sellers had made a fortune at 0.15p? They didn't want to be holding when this takes off? They are just idiots?

[cj41] 01/7/2020 19:11

The sellers are probably out because like most they think this is going completely down the toilet.