Kibo Energy Share Discussion Threads

[cj41] 21/3/2022 14:32

'The near production renewable energy assets all have a time horizon of less than 18 months to first production." - how long can Louis be allowed to come up with statements like this? He has just given himself permission to continuing to deliver nothing for the next 18 months. It's a total scandal.

[cj41] 21/3/2022 14:27

The deal sounds like yet another load of old tosh where everyone is a winner except non-CLN holding shareholders. Why are we paying £10m for a business which is almost certainly worthless as LC will never get anything into production. What's happened to Bordesley? The other MAST sites? Haneti? The plastic burning project? Sale of the coal assets? Can this guy not get one bloody project across the line? This once again looks to be a complete load of tosh. The shareholders in Brownhill have just sold a couple of hundred grands worth of net assets for £10million. Why does everything LC does sound dodgy to me?

[cj41] 21/3/2022 14:18

'Broomfield has additional renewable energy projects (hydro, wind and solar) under its portfolio, at various locations in Africa, with an installed capacity of 160.4 MW, in which a right of first refusal will be granted to Kibo as part of the Transaction' - are we not buying the company that owns these projects?

[lurker5] 21/3/2022 13:22

If that irr and EBITDA is correct, looks like Victoria Falls capex is around $30m. If 25% is paid for already, Kibo will be up for around $22m - some of which will be project loans. Even so requirement will need Kibo to raise another $7m-10m. Wonder if LC will be honest enough to say as much in the admission document (as he wasn't when masterminding Mast's) At current share price there will thererfor be over 6bn shares in issue (In old (today's) money) - 600m in new. meaning eps after tax and loan repayments will be 0.05c/share in old money vs current old money share price 0.20 cents. A very crude back of envelope calculation. I'm sure Yaki can check.

[lurker5] 21/3/2022 12:34

It won't impress Close Bros. They won't want a shambles holding a majority of MAST. I'll be surprised if this doesn't scupper funding for the peakers, unless LC finds a while knight for Mast - who won't be impressed either by its puffed up prospects.

[catchingmice] 21/3/2022 10:55

Been saying it for years The Geezer should be locked up for what he's done hereLC should be doing time in the slammer

[nigelpm] 21/3/2022 09:06

It is abundantly clear what Louis is up to - the point is one of opportunity for existing shareholders. of course it won't open at 0.5p but you might get 0.3p and sell up and walk away. That's the value in what he has concocted here.

[frankandbeans] 21/3/2022 08:39

Suspended at 0.16p

Inflection point 0.172p

PMSL

[grimreaper2019] 21/3/2022 07:58

This 'deal' is a near clone of the acquisition of Rukwa coal deposit in Tanzania back in 2012, a consolidation, hundreds of millions of new shares issued, price at a supposed 'premium' etc etc.

What happened, the share price collapsed 70% in a few months afterwards as the market realised it had been conned and the Mzuri entities (chums of LC) cashed their shares in at a price they could barely believe the 'asset' was valued at.

Oh dear.

[frankandbeans] 21/3/2022 07:43

Shareholder loan claims?

“ Kibo will acquire 100% of the issued share capital of Brownhill International Limited ("Brownhill") and shareholder loan claims against Brownhill (the "Transaction") which holds the Project through its wholly owned subsidiary Power Ventures (Private) Limited “

“ Brownhill was incorporated for the sole purpose of being the holding company for Power Ventures (Private) Limited and the Project. There are no other assets within Brownhill apart from the de minimis share capital on incorporation. For the financial year ended 31 December 2021 , Power Ventures (Private) Limited reported a loss after tax of US $228,249, total assets of US $7,702,779 and net assets of US $459,841.”

[cj41] 21/3/2022 07:41

Trading suspended pending an admission document. Louis is going to admit he hasn't got a clue and is just doing random stuff.

[frankandbeans] 21/3/2022 07:39

There’s really no positive to draw from this.

LTH are screwed.

Who are the new shares going to I wonder?

Given previous placings they aren’t going to be sticky, so that’s a huge overhang.

That is of course if it ever relists, perhaps they will take it private.

[yaki] 21/3/2022 07:34

Had initial exchange with s/hs representing way more than ever has been voted at Kibo agm/egms - no one is happy at all!

I have serious doubts that this will be passed at egm. Obviously if it fails, I would expect the BoD to resign en masse!