Kibo Energy Share Discussion Threads

[cj41] 09/9/2020 07:56

Sadly DD has called this better than anyone else so far. Maybe his posts should be examined and considered rather than lazily rubbished.

[greatfull dead] 09/9/2020 07:21

DD filtered.

GLA,
GD

[yaki] 08/9/2020 15:14

DD, I had a look at some of the subsidiary company accounts and look like profitability is c10% of revenue, eg Attune in 2019

Also Attune pay both PPG and the other s/h Rockpool - management and inspection fees of c250k a year, ie another 20%.

So PPG must be getting c 1m from its subsidiary companies. Not sure why they are in such a bad shape

Also I looked at Ylem energy. They brought online 50MW online in the last few weeks. If is such a bad market, why they are doing it?!?
hxxps://www.ylemenergy.com/downloads/latest-news


DozyDuck8 Sep '20 - 14:56 - 3673 of 3673
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Yaki you can work out the profit and cash flow breakdowns from the co house subsidiary accounts. PPG's parent co accounts won't tell you anything useful. From the balance sheets (there's no cash flow statement) it seems there are loan repayments but they vary wildly - obviously each co has its own loan schedule. The bare fact is there has never been any dividend or minority share shown - so obviusly no payments to shareholders. That's why PPG is going bust.

[dozyduck] 08/9/2020 14:56

Yaki you can work out the profit and cash flow breakdowns from the co house subsidiary accounts. PPG's parent co accounts won't tell you anything useful. From the balance sheets (there's no cash flow statement) it seems there are loan repayments but they vary wildly - obviously each co has its own loan schedule. The bare fact is there has never been any dividend or minority share shown - so obviusly no payments to shareholders. That's why PPG is going bust.

[cl0ckw0rk0range] 08/9/2020 11:39

Johnboy getting all flustered and trying to deflect when asked direct questions. Funny that.

[dozyduck] 08/9/2020 10:43

99Yaki - while these plants are limited to the reserve power hours they can deliver - it can be at any price with no upper limit. So no guide to likely revenue.
As for capital costs look at companies house - eg Attune Energy - shows typical start-up balance sheets. ditto for all other PPG cos - I think I listed them some time ago (or you can find them in PPGs accounts) As a listed co and operating far longer than Mast will have done, its likely to have scured the best contracts and sites - yet still can't make a go of it.

ps look at revenues on companies house. with competition all reserve power plants are likely to be in same range. even if they serve 'local' markets. looking on google other large reserve power groups are in the same boat as ppg. and complaining govt restrictions are damagibnng their market. lc of course, as ever, lurched into the market a few years ago when his other wheezes wenr a over t . now its run away from him. leaving his shareholders in their usual doodoos

[yaki] 08/9/2020 10:36

Actually reading the PPG accounts, I see they expect their plants to operate more like 20%+ capacity. Way higher than my optimistic estimate of 5-10%.

So a 10MW plant will sell more like 20GWh.

[yaki] 08/9/2020 10:26

DD
Are you saying that for a 10MW plant you expect it to be financed using c4m equity and 6-8m debt?

Also "Actually like the annual cash flow (c£600m for a 10MW site)" - I presume you mean 600k. Is that gross revenue or after meeting the debt repayments?

If is former - sounds pretty low? A 10MW utilised 100% is 87.6 GWh a year, at £200k/GWh, say that's 17m. This implies 3.4% utilisation. I kind of expected more like 5-10%?


DozyDuck8 Sep '20 - 09:42 - 3668 of 3668
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To expand my 3664 Agree with Yaki (unusually)
Comparing with PlusPowergen's similar projects on Companies House, the £1.7m looks like the 45% of the equity that Mast will have alongside 55% held by outside investors (Rockpool's EIS scheme in the case of PPG). In addition to that c£3.9m of equity there will be c£6m-£8m of plant asset financing which has to be repaid. On same comparisons, LC's £7.3m 'revenue'looks actually like the annual cash flow (c£600m for a 10MW site) that PPG's cos have been achieving in last thre years. Out of that the asset loans have to be repaid (c£600k-800k pa over 10 years) and MAST will 'get' 45% of the remaainder (if there is a remainder which PPG's cos haven't seen.)
LC's 19% irr alao looks as if calculated ('fudged') on Sloane's £1.75m investment - but taking in the gross project cash flow (which doesn't belong to it) If so that would be a gross misstatement of the truth. If it is supposed to be the 'project' irr it would have to be based on the total initial capex (c £8m inc working capital and connection and planning costs)in which case the cash flow figures would have to be multiples of what PPG has achieved.
So, as ever, LC's 'figures' don't add up and are obviously 'cherry picked' out of context to make them look attractive. His statements that Mast etc 'will generate cash for Kibo' have always been wildly misleading.
It all raises the question hether the IPO will be honest and FULLY open about liKely returns 'for Mast and eventiually Kibo' - and who has prepared the 'third party' 'projections'. Plus, on PPG experience, what price does it think it can get Mast away in an IPO ? - and how much can it raise and where will Kibo get the cash to keep its '52%' share ?
It all looks like something to keep LC's gravy train going. Kibo (and Mast) investors won't get anything like the 'salary' he will be raising in the IPO

[dozyduck] 08/9/2020 09:42

To expand my 3664 Agree with Yaki (unusually)
Comparing with PlusPowergen's similar projects on Companies House, the £1.7m looks like the 45% of the equity that Mast will have alongside 55% held by outside investors (Rockpool's EIS scheme in the case of PPG). In addition to that c£3.9m of equity there will be c£6m-£8m of plant asset financing which has to be repaid. On same comparisons, LC's £7.3m 'revenue'looks actually like the annual cash flow (c£600m for a 10MW site) that PPG's cos have been achieving in last thre years. Out of that the asset loans have to be repaid (c£600k-800k pa over 10 years) and MAST will 'get' 45% of the remaainder (if there is a remainder which PPG's cos haven't seen.)
LC's 19% irr alao looks as if calculated ('fudged') on Sloane's £1.75m investment - but taking in the gross project cash flow (which doesn't belong to it) If so that would be a gross misstatement of the truth. If it is supposed to be the 'project' irr it would have to be based on the total initial capex (c £8m inc working capital and connection and planning costs)in which case the cash flow figures would have to be multiples of what PPG has achieved.
So, as ever, LC's 'figures' don't add up and are obviously 'cherry picked' out of context to make them look attractive. His statements that Mast etc 'will generate cash for Kibo' have always been wildly misleading.
It all raises the question hether the IPO will be honest and FULLY open about liKely returns 'for Mast and eventiually Kibo' - and who has prepared the 'third party' 'projections'. Plus, on PPG experience, what price does it think it can get Mast away in an IPO ? - and how much can it raise and where will Kibo get the cash to keep its '52%' share ?
It all looks like something to keep LC's gravy train going. Kibo (and Mast) investors won't get anything like the 'salary' he will be raising in the IPO !

[yaki] 08/9/2020 09:05

This announcement raises many questions and probably why the market hasn't quite grasped it

A few that I am struggling with:
1:
Production-ready project:
o Freehold site with established infrastructure including 9 MW grid export connection and several worldrenowned
OEM operating units in situ and live
o Permitting in place, G59 commissioned and live, Gas kiosk commissioned and live

Does it mean that the OEM operating units are in place, ie key items have been installed and ready to use. Judging by G59 and gas commissioning - it must be. Is that included in the asset that Sloane is buying?
If is the case - so no need to spend the 6-8m DD is referring?!?

2:
o Positive results of third-party financial modelling exercise based on 7.5 MW generating capacity include Post
Tax summation of annual revenue stream over project life of £7,290,411 and IRR c. 19% to 21%

What is PostTax summation of annual revenue ?!? Is it revenue - ie your topline. Or is it profit after tax - after paying all expenses, interest and tax.
If is profit after tax - numbers are quite attractive - c500k a year profit (15 yr plant life) from 1 plant or if extrapolate - 1m from 2 plants

3:
Acquisition provides opportunity to potentially bring Bordesley into production well ahead of current target date
for 1st production, which is currently set for Q4 2020.

So current production date for Bordesley is Q4 2020. So well ahead of that is Q3 2020. But we are in the last 3 weeks of Q3?!?

4:
Following the LSE Admission, Sloane will be in a position to develop its portfolio at scale and pace, as opposed to on a
project-by-project basis and advance significantly towards immanent revenue generation

...
Significantly improve and enhance the commercial integrity and investment attractiveness of the Sloane reserve
power portfolio by establishing early - almost immediate - revenue opportunity;


So how imminent are revenues?!?

On the positives:
1.
Create an opportunity to bring its Bordesley reserve power project into production at a much earlier date than
currently scheduled and at significantly lower cost than currently planned for;

2.
The details of the deal show that the Sloane IPO is pretty advanced - October/eraly Novermber?

3.
Indication of Sloane valuation.
If assume 2.5m is raised - 0.5m listing costs, 1.5m vendor and 0.5m working cap, and assume KIBO keeps its 50%+ stake WITHOUT taking part in the IPO, one can assume Sloane valuation of c10m, new investors - 25% for 2.5m, KIBO 0.73*0.75=55%

If that works out to be the case, will be a massive boost for KIBO.
TWO listed assets valued at 7-8m

[uknighted] 08/9/2020 07:34

DD / Lurker / JC used to be a fan!

[sirianbotham] 07/9/2020 23:57

So many questions ... I take it your not a fan?

[dozyduck] 07/9/2020 20:06

Once again a completely obscure, opaque, set of 'figures'from LC. 1) what project life ? If the usual 15 years the turnover is miniscule and well below what - eg PPG projected but failed to achieve. 2) what does the acquisition price represent? Is it the equity in one stand alone project ? A typical such site is financed at start-up 45% by asset backed loans, 30% by outside investors like Rockpool (now exiting from many of its power investmnets due poor performance) and 25% by the 'owners' equity (ie he has to pay that amount up front)
So is this a brand new site ? If so the total capital cost for 9MW will be about £6-£8m. so £1.7m looks like the 25%. ie the 'owner' omly gets revenue once the asset loans and other investors are repaid.
And who is the 'third party financial modeller' ? And what is th irr based on. Is it the 'project' irr ? ie the return on the £7m capital cost ? If so, PPG was 'projecting' a similar return on its plants. But all six of them have achieved only 1/rd of that across the board in their first three years - which is why it is bust and selling them all off.
And if Kibo is going to 'retain' 51% of Mast's equity, where is it getting the cash ?- You've guessed it (but not the green behind their ears Edge and Kiwi apparently) more mega diluting share isssues of course - silly !

[trad3m3] 07/9/2020 14:10

You do you. That's all I got to say...By the way you hold any shares here...?

[cj41] 07/9/2020 14:08

Charts and KIBO? Really? I think not. It's all about what KIBO does not what a graph of past trades looks like. But I suppose if it makes you happy. I will take a look at the tea leaves in my next cuppa.

[edgein] 07/9/2020 14:03

Trad,

Yes they hold around 96m KAT and apparently about 51% of the soon to be listed MED/Sloane after IPO funding etc. As well as those other CTP projects, all squeezed down into a £4m cap. I know ridiculous. A reasonable run on KAT is likely to be more than that. MED listing soon, exciting times. I hope you're fully loaded.

Regards,
Ed.

[trad3m3] 07/9/2020 13:15

Right so they hold some shares som 90mil nice, those nuclear reactors mate... I'm telling you whoop whoop so excited now!!!!

[trad3m3] 07/9/2020 12:58

JOHANNESBURG – Kibo Mining said on Monday that it had completed the sale of Kibo Nickel to Katoro Gold in an all share transaction following receipt of relevant regulatory approvals. Ahhhh sold :( anyway already got nickel! :)) many great projects on here happy to hold and see how they make a turn around on their so soon!

[edgein] 07/9/2020 12:57

Trad,

You should check out the Katoro website as they are KIBO's gold and nickel assets that were floated off to form KAT. The Haneti area has high grade chip samples for both Ni and pgms as you suggest. But the real tale will be told on the assays of the upcoming Haneti drilling programme. Hopefully continuous high grades. Its great that KIBO has around 96m shares in Kat and their largest shareholder. Then MED about to float here and apparently two PPA's due for the massive CTP project(s) in Moz. Of course the other two large coal assets/CTP projects in Tanz and Bots not in the price here either. I'm strapped in ready for them to pop.

Regards,
Ed.

[trad3m3] 07/9/2020 12:23

Kibo Mining plc (LSE:KIBO) announced the discovery of a 30-kilometer strike of nickel and platinum-group metals (PGMs) prospectivity at its Haneti project. The news follows the company's receipt of a technical report that covers "full historical exploration and technical data" from Haneti.Found it! any recent updates in regards to Haneti?

[trad3m3] 07/9/2020 12:18

Nice one thank you, also I've seen other board and it said they also have Nickel? Is that right? If so could you point me to the RNS for it please?

[edgein] 07/9/2020 12:06

Trad,

Well there's two prominent bowls on the long term chart, one to 1.8p and another to about 4.5p. That and above are likely where our resident trolls bought. However they shouldn't lose hope entirely though as KAT has a lot of activity planned for Blyvoor and Haneti. Blyvoor looks like a solid project at much lower gold prices and Haneti is potentially company making given the scale of the area, but as yet high risk expo.

Today's news certainly helps the near term listing of MED, two have two projects lined up for near term start up and revenue generation should give them a stronger IPO price.

Regards,
Ed.