Kibo Energy Share Discussion Threads

[sirianbotham] 15/2/2021 11:30

Out of interest when was that KPMG comment made January 24th 2017!

[lurker5] 15/2/2021 10:43

Questions anyone intelligent and honest would ask of the Clear Capital Med 'prospectus' (but not of course Mr Yaki) are many - Here is a key one.

The reserve power sector has encountered serious problems last few years -prompting this Financial Times item. "Tim Emrich, chief executive of UK Power Reserve, one of the biggest developers of small gas generators, said 500MW of capacity planned by his company was "at risk". Research by KPMG has said"

Yaki knows, but hides from the gullible (Ah - forgot - he's a major Kibo shareholder !) that Plutus Powergen has sold out - one of few listed cos, so has had to publish more detail than the 350 plus other reserve power sites in the UK (Med is going to be a 'major' player of course !)

because -

What PPG 'projected' in 2017 for a 20MW reciprocating gas site
£'000's
Year 1 2 3
Turnover 2,454 4,489 4,754
EBIDA 1,192 2,311 2,508
Cash Flow 1,192 2,312 2,306
NB: Stated to be BEFORE financing costs. The figures and the balance sheets below would produce the NPV and irr LC stated back when Med first appeared (but which he hasn't altered since the disastrous performances below)

What PPG actually achieved from its first five sites (before £150k mgmt fee by each and before financing costs)(2019 R&A said six sites of 20MW each) was as follows

Attune Energy Ltd 20MW
Turnover 1,244 1,512 1,173
EBITDA 797 1,053 677
Cash Flow 797 1,053 677
Balance Power Ltd
Turnover 1,127 1,120
EBITDA 767 494
Cash Flow 767 494
Flexible Generation Ltd
Turnover 994 953
EBITDA 581 319
Cash Flow
Equivalence Energy Ltd
Turnover 1,104 1,119
EBITDA 742 509
Cash Flow
Precise Energy Ltd
Turnover 1,045 953
EBITDA 682 192
Cash Flow

Valence Power Ltd
Turnover 1,010 981
EBITDA 644 409
Cash Flow
Portman Power Ltd under construction
Reliance Generation Ltd under construction


The above are BEFORE financing costs - see the balance sheets below (based on costs c 2015 for a 20MW reciprocating gas plant - they have risen considerably since then)


Typical balance sheets at start £'000's
Generating plant & infrastructure 6,380
Planning & connection/build costs 566
working capital (net current liabs) 994
Capital employed 5,952
financed by
asset finance loans 2,779
EIS investors (55%) 1,745
PPG plc (owner) 45% * 1,428 * ie spent by PPG as sponsor* ie = earned by its planning
Total financing 5,952


Pro-rata - what a 5MW site would achieve on averages above
Year 1 2 3
Turnover £,000's 272 277 293
EBITDA £'000's 176 124 169
Kibo's 45% share £'000's
88 87 76

Disastrously short of LC's 16% irr !!

LC has touted the same NPV and irr since copying PPG's figures in 2017 . Why no mention of the shorfall everyone in the market has experienced since then ?

And why hasn't our 'expert' Yaki questioned where Kibo (and Med) - assuming the same financing structure a PPG) will get the £1.4m + £1.7m per 20MW site that equity owners will need (above figures are 6 years old. capital costs have increased since then and the schemes for EIS investors have been stopped by the IR) ?

More seriously. What will be the asset loan repayments - to come out of cash flow that LC has said each site will produce (but not mentioning the finance costs)

A child just out of Kindergarten would ask LC these questions. But not Yaki.

And of course similar questions that I asked LC at his last Investor Q&A were not acknowledged let alone answered. Better luck on Thursday eh ?

If readers on here think Yaki is a reliable guide remember his constant Kibo ramping all the way down since 2017. And if anyone can't recognise his belittling of anyone who corrects him, and his attempts to deter anyone questioning him, to be that of a child with a personality defect, they must be of the same mould.

I mentioned earlier, some of the other obvious questions.

[lurker5] 15/2/2021 10:43

Questions anyone intelligent and honest would ask of the Clear Capital Med 'prospectus' (but not of course Mr Yaki) are many - Here is a key one.

(Apologies that ADVFN makes it impossible to format the tables below by the columns needed to read them easily. You'll just have to make allowances)
.
The reserve power sector has encountered serious problems last few years prompting this Financial Times item. "Tim Emrich, chief executive of UK Power Reserve, one of the biggest developers of small gas generators, said 500MW of capacity planned by his company was "at risk". Research by KPMG has said"

Yaki knows, but hides from the gullible (Ah - forgot - he's a major Kibo shareholder !) that Plutus Powergen has sold out - one of few listed cos so has had to publish more than the 350 plus other reserve poer sites (Med is going to be a 'major' player ! ha ha) because -

What PPG 'projected' in 2017 for a 20MW reciprocating gas site
£'000's
Year 1 2 3
Turnover 2,454 4,489 4,754
EBIDA 1,192 2,311 2,508
Cash Flow 1,192 2,312 2,306
NB: Stated to be BEFORE financing costs

What PPG actually achieved from its first five sites (before £150k mgmt fee by each and before financing costs)(2019 R&A said six sites of 20MW each)

Attune Energy Ltd 20MW
Turnover 1,244 1,512 1,173
EBITDA 797 1,053 677
Cash Flow 797 1,053 677
Balance Power Ltd
Turnover 1,127 1,120
EBITDA 767 494
Cash Flow 767 494
Flexible Generation Ltd
Turnover 994 953
EBITDA 581 319
Cash Flow
Equivalence Energy Ltd
Turnover 1,104 1,119
EBITDA 742 509
Cash Flow
Precise Energy Ltd
Turnover 1,045 953
EBITDA 682 192
Cash Flow
Valence Power Ltd

Turnover 1,010 981
EBITDA 644 409
Cash Flow
Portman Power Ltd under construction
Reliance Generation Ltd under constructin


The above are BEFORE financing costs. which will be big - see the balance sheets below


Typical balance sheets at start £'000's
Generating plant & infrastructure 6,380
Planning & connection/build costs 566
working capital (net current liabs) 994
5,952
financed by
asset finance loans 2,779
EIS investors (55%) 1,745
PPG plc (owner) 45% * 1,428 * ie spent by PPG as sponsor
* ie = earned by PPG's planning 5,952


Pro-rata - what a 5MW site would achieve on averages above
Year 1 Year 2 Year 3
Turnover £,000's 272 277 293
EBITDA £'000's 176 124 169
Kibo's 45% share £'000's 88 87 76

[yaki] 13/2/2021 09:54

Ed

A vile character as you can read. I am aware of a few other details about him but will keep them private now. I am sure if this gets to court, will be quite interesting evidence!

Shows how much you can trust someone with such attitude!
Edgein12 Feb '21 - 17:33 - 5281 of 5281

Yaki,

Interesting posts. Seems like you've rumbled him big time. These multi alias characters are easy to spot, they just dedicate their time trying to talk things down, but investors don't give them any credence. It didn't put me off buying millions at sub 0.2p. They just don't understand the difference between diesel powered generators and gas powered generators. But over the coming 12 months they sure will. We were told relentlessly by these characters that MED would never list and they'd never raise money and they'd never make money. I'm looking forward to LC and team proving them wrong on all accounts, two of the above about to be smashed soon, the third smashed shortly after listing.

Regards,
Ed.

[edgein] 12/2/2021 17:33

Yaki,

Interesting posts. Seems like you've rumbled him big time. These multi alias characters are easy to spot, they just dedicate their time trying to talk things down, but investors don't give them any credence. It didn't put me off buying millions at sub 0.2p. They just don't understand the difference between diesel powered generators and gas powered generators. But over the coming 12 months they sure will. We were told relentlessly by these characters that MED would never list and they'd never raise money and they'd never make money. I'm looking forward to LC and team proving them wrong on all accounts, two of the above about to be smashed soon, the third smashed shortly after listing.

Regards,
Ed.

[guitars4stars] 12/2/2021 16:25

Very Interesting reading from a personal perspective...!
I consider this ADVFN thread to be an -Investor Forum- or thread where we might chat around our decision as actual investors in Kibo Energy.
Not somewhere to vent, historic, likely poor investment outcomes & very certainly this in my view is not an arena to actually, dissuade investment in what is my own very significant holding here, together with others in Kibo Energy.
I've always enjoyed a really good (...possibly kind) personal buffer Lurker, yet if you try use kindness as a weakness against me, I am no ones fool! & gloves are really off!
Have a lovely weekend thou..right in advance!
Dave Ryan

[sirianbotham] 12/2/2021 15:57

One day too, ADVFN - prodded by the FCA (some chance) - will clean up these boards.Look forward to the day.

[sirianbotham] 12/2/2021 15:53

'These boards are supposed to provide anonymity for a good reason' ........ keep you out of court I imagine!

[yaki] 12/2/2021 15:11

By the way, still nothing from any solicitors.

Royal Mail is not the same as before, taking ages to deliver letters

[yaki] 12/2/2021 15:09

lurker5

Do you have any rules when you use DozyDuck and when lurker5?

lurker5 12 Feb '21 - 15:08 - 5275 of 5275
0 0 0
Same little child you've always been Yaki. Unable to counter valid and sensible arguments about your own misreadings of slightly complicated technical investment related documents, you rush off to teacher to "tell". Inadequate once; inadequate always !

[lurker5] 12/2/2021 15:08

Same little child you've always been Yaki. Unable to counter valid and sensible arguments about your own misreadings of slightly complicated technical investment related documents, you rush off to teacher to "tell". Inadequate once; inadequate always !

[yaki] 12/2/2021 15:07

Two private messages from lurker5 to me.
Not sure why he/she is so sensitive when called John? Anyone any idea?

Anyway, here is all in the public


lurker5 to me 07 Feb 2021 09:30:37
Stop referring to me by my name Yaki. Another poster on its BBs has been removed by ADVFN for breaking privacy and disclosure rules. He is also being sued for damages. I believe you even tried to find my address and personal details a few years ago - the sort of thing only a child would do. These boards are supposed to provide anonymity for a good reason - which it appears you can't even work out. You will hear from solicitors just as that other poster has been if you persist.

lurker5 to me 12 Feb 2021 14:58:26
I have told you already that you are breaking privacy laws as well as ADVFN's guidelines by seeking/publishing my details. These boards impose anonymity precisely so that valid criticisms can be made without being inhibited by any threats of exposure. You have already shown over many years on these threads that you are incapable of recognising misleading claims, or even of understanding anything about basic investment principles and the analysis of companies and their management. You lost for yourself and others who followed you an enormous amount of money in Kibo precisely because you have no ability to understand what is going on. I would welcome the chance to expose your incompetence and ignorance in any public forum, but that would also give me the opportunity to sue you and to help those others who lost money through you to claim their damages from you.

[yaki] 12/2/2021 14:57

Just one of the many players and projects coming up

hxxps://www.quinbrook.com/post/quinbrook-invests-in-flexible-generation-grid-support-and-demand-response

[yaki] 12/2/2021 14:33

John
Some interesting points here raised

Btw, I passed this note with your (at least) TWO avatar names you use here, to the company. I am sure they will be interested in allegations of fraud that you claim LC has committed.


Let me answer a few I know.

1) Plutus Powergen
corporate mess, now a cash shell, diesel generators that would cost fortune to convert to gas.
A have a few good examples of signs why the market is buoyant, but later on them

2) Financing
Vendor financing?

3)Free cashflows
.09 pence per the 3.5bn Kibo shares
Great. At 10-20 x multiple - share price of 0.9p-1.8p. Way higher than current share price


lurker5 12 Feb '21 - 13:07 - 5270 of 5271

Having got hold of the Clear Capital 'prospectus' I can see why MED couldn't get its £5.5m on any sort of public market. (Can only reproduce snippets on here because its a pdf)
Among a number of abysmal broker puffs I've seen in many years, this is the worst. If River is to prepare one to raise cash for Med on the standard market it will have to be much more honest and open.
1) Med isn't investing in 'the clean energy' market which CC uses as a 'comparator'. Its investing in a tiny sub-set of 'energy' markets - being power generation.
2) CC's comparators are a) Pineapple Power - a tiny start-up cash shell planning to 'invest in clean and renewable energy' - a long way from reserve power b) Powerhouse Energy - a large company planing a plant to generate hydrogen from waste plastics - again nothing to do with reserve power c) Invinity Enery - a manufacturer of energy storage batteries.
These, conveniently, have shown good share price growth recently because much more attractive to investors.
d) a chart of a global 'clean energy' ETF showing impressive growth and a puff from a "Clean Energy Market Forecast to 2027" projected to grow at 13% cag. Covering major world companies in Hydro and Ocean Power, Solar Energy, Bioenergy, Geothermal Energy, and Wind Energy) and EndUser (Residential, Commercial, and Industrial)markets. Just how relevant is that to Med's prospects ?
And of course Surprise Surprise - no mention whatsoever of any company in the UK reserve power market such as Plutus Powergen and the more than 350 other similar companies to be found on Companies House - all of whose operating profits have been decimated in the last four years by upsets in their UK market.
As for Med itself - why ? - surprise surprise once again ! We have LC's statement that "Financial modelling indicates projected IRRs of 13-16% and NPVs of GBP16-19 million for the initial assets" - which is exactly the same as his puff three years ago - in turn exactly the same as the puff in 2016 by Plutus Powergen in its prospectus, which has turned out to be misereably unachievable (in it case less than 1/4 its 'projected' profits) - In other word LC, as is his wont, has done absolutely no research into his own market - or if he has is fraudulently concealing the fact that Med's market is dodgy. In fact Mr Yaki seemed to have accepted some time ago, that Bordersley's NPV wouldn't be £16m, but more like £5m.
As for LC's promise of "£25k of free cash flow per month per 5MW generation, and therefore £6m pa from the 100MW he 'expects' will be operating by year end - it looks more realistic (less) than would be produced by a claimed 13-16% irr. BUT what he fails to mention is how his 100MW is to be financed. Look up PPG and its relatioship with Rockpool Investments to see the funding structure likely to be used, which will involve MED and Kibo) having to raise a least £25m in equity and another £25m in loans to pay for 100MW capacity.
And even if 100MW is achieved, how much will the claimed £6m pa 'free cash flow' (I haven't worked out what the loans will cost) be worth to Kibo shareholders ? If it has is claimed 55% - it will be .09 pence per the 3.5bn Kibo shares it will be issuing over the next few years - NOT COUNTING what it will have to issue (a very large number more shares) to finance its power projects in Africa.
You have been warned to do your sums very carefully, and to wait to see whether the Standard Market prospectus pulls any rabbits out of Kibo's very tattered hat, before believing that Med will rescue Kibo from the hole LC has dug for it.
As for the rest of CC's'prospectus' I don't have the time to list the other misleading and irrelevant statements in it. In fact the only part that is honest is the list of risks. (Can't copy here I'm afraid)

[sirianbotham] 12/2/2021 13:31

So now the broker is dishonest. I can see why you like your anonymity.

[lurker5] 12/2/2021 13:07

Having got hold of the Clear Capital 'prospectus' I can see why MED couldn't get its £5.5m on any sort of public market. (Can only reproduce snippets on here because its a pdf)
Among a number of abysmal broker puffs I've seen in many years, this is the worst. If River is to prepare one to raise cash for Med on the standard market it will have to be much more honest and open.
1) Med isn't investing in 'the clean energy' market which CC uses as a 'comparator'. Its investing in a tiny sub-set of 'energy' markets - being power generation.
2) CC's comparators are a) Pineapple Power - a tiny start-up cash shell planning to 'invest in clean and renewable energy' - a long way from reserve power b) Powerhouse Energy - a large company planing a plant to generate hydrogen from waste plastics - again nothing to do with reserve power c) Invinity Enery - a manufacturer of energy storage batteries.
These, conveniently, have shown good share price growth recently because much more attractive to investors.
d) a chart of a global 'clean energy' ETF showing impressive growth and a puff from a "Clean Energy Market Forecast to 2027" projected to grow at 13% cag. Covering major world companies in Hydro and Ocean Power, Solar Energy, Bioenergy, Geothermal Energy, and Wind Energy) and EndUser (Residential, Commercial, and Industrial)markets. Just how relevant is that to Med's prospects ?
And of course Surprise Surprise - no mention whatsoever of any company in the UK reserve power market such as Plutus Powergen and the more than 350 other similar companies to be found on Companies House - all of whose operating profits have been decimated in the last four years by upsets in their UK market.
As for Med itself - why ? - surprise surprise once again ! We have LC's statement that "Financial modelling indicates projected IRRs of 13-16% and NPVs of GBP16-19 million for the initial assets" - which is exactly the same as his puff three years ago - in turn exactly the same as the puff in 2016 by Plutus Powergen in its prospectus, which has turned out to be misereably unachievable (in it case less than 1/4 its 'projected' profits) - In other word LC, as is his wont, has done absolutely no research into his own market - or if he has is fraudulently concealing the fact that Med's market is dodgy. In fact Mr Yaki seemed to have accepted some time ago, that Bordersley's NPV wouldn't be £16m, but more like £5m.
As for LC's promise of "£25k of free cash flow per month per 5MW generation, and therefore £6m pa from the 100MW he 'expects' will be operating by year end - it looks more realistic (less) than would be produced by a claimed 13-16% irr. BUT what he fails to mention is how his 100MW is to be financed. Look up PPG and its relatioship with Rockpool Investments to see the funding structure likely to be used, which will involve MED and Kibo) having to raise a least £25m in equity and another £25m in loans to pay for 100MW capacity.
And even if 100MW is achieved, how much will the claimed £6m pa 'free cash flow' (I haven't worked out what the loans will cost) be worth to Kibo shareholders ? If it has is claimed 55% - it will be .09 pence per the 3.5bn Kibo shares it will be issuing over the next few years - NOT COUNTING what it will have to issue (a very large number more shares) to finance its power projects in Africa.
You have been warned to do your sums very carefully, and to wait to see whether the Standard Market prospectus pulls any rabbits out of Kibo's very tattered hat, before believing that Med will rescue Kibo from the hole LC has dug for it.
As for the rest of CC's'prospectus' I don't have the time to list the other misleading and irrelevant statements in it. In fact the only part that is honest is the list of risks. (Can't copy here I'm afraid)

[yaki] 12/2/2021 11:22

short6

clueless as ever. have a good day

short6 12 Feb '21 - 11:10 - 5268 of 5268

Yaki, as everyone seems so excited about MEDs prospects, i would have thought you would have already known the answers.
Seems you're all as clueless as me.

[short6] 12/2/2021 11:10

Yaki, as everyone seems so excited about MEDs prospects, i would have thought you would have already known the answers.
Seems you're all as clueless as me.

[yaki] 12/2/2021 11:00

short6
perfect opportunity to ask that question next week, what do you think?

short6 12 Feb '21 - 10:17 - 5266 of 5266
0 0 0
What happened to the T3 and T4 auctions MED pre-qualified for?
and what contract has MED got with the National Grid?

[short6] 12/2/2021 10:17

What happened to the T3 and T4 auctions MED pre-qualified for?
and what contract has MED got with the National Grid?

[yaki] 12/2/2021 10:00

MED will acquire and develop a portfolio of flexible, small scale, multiple Reserve Power generation plants throughout the UK producing 300 MW of safe and clean power through natural gas.

hxxps://ukinvestormagazine.lpages.co/mast-energy-developments-virtual-ipo-presentation/?mc_cid=b489061f26&mc_eid=b341572df6

Looks like they are going for more, mmm

Quite encouraging - 300MW

[yaki] 11/2/2021 07:49

Penn

Indeed. We are overdue a few here

PennStreet 10 Feb '21 - 14:52 - 5263 of 5263

Thanks Yaki. Miracles do happen!

[pennstreet] 10/2/2021 14:52

Thanks Yaki. Miracles do happen!

[cj41] 10/2/2021 14:38

Also you might have missed the fact that I was agreeing with Yaki, who we both know is a substantial holder. Very much like yourself but I don't think he sold out and then bought back in.

[cj41] 10/2/2021 14:35

When you say 'holders' I presume you mean 'other holders' as I am sure you wouldn't want to make an incorrect assumption.