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We're up which is great even if it's a small amount, I just hope Kibo can maintain it.
Did you tell the FCA that although you were really concerned you couldn't help yourself and bought more. Yes Officer this fellow here is the burglar. I gave him a key to my house last week despite knowing his profession.
I accept all that JD but what never sits well with me is all of the false info that LC has given, all the comments, the nods and winks, the look on noels face, his upbeat manner, comments regarding special relationships and all the rest of it, its drawn people in at 6,7,8 and 9 pence and that's unforgivable. Now the facts are laid out bare its plain to see its real value is its current value or less and what it has is a great chance to 10 bag from here, but not from 9 pence where it was. A lot of investors have lost big money on kibo and that leaves a bad taste, certainly in my mouth. I asked the regulators to look at LC and Kibo and comments made but they did the usual zero response as they do on all aim companies. Snake pit at present.
Boff, your right, LC is not the messiah, he’s a very naughty boy (sorry, couldn’t resist).
We will just have to agree to disagree, on what LC has built here, I personally think it is formidable given the times we are in, liquidity in the last 5 years in this sector has been brutal to come across, to end up where we are today with the projects in the stable and ‘only’ 640m shares in circulation, with zero nasties in the cupboard (debt or warrants, etc.) in circulation is remarkable IMHO, of course, folks will rightly mention the 1/15 consolidation that has also gone on prior to 2011, but before my time.
As for future fundraising, name of the game on AIM, it’s a ‘Junior’ Market for a reason, it needs funds to keep going, that isn’t an issue, it how he now goes about it, we will need to see the SEPCO / Other Investor’s RNS of last Monday and see how that pans out.
I remain wildly bullish.
JD
All true JD but you know yourself not to ignore what is staring you in the face, despite what is being said by others. The startling facts are that Kibo is an AIM minnow and needs funding. Its not sat on its laurels and has other projects that need funding. Everything LC has done so far has simply cost money, not generated any, and that game can only continue so long before everyone says enough is enough. I would envisage that despite your claims, he will be under pressure to raise the SP from lots of different angles, including corporate and private investors. If he had a funding strategy, it would be nice to hear it. LC has spent his time eluding his investors and doing lots of cloak and dagger stuff which is great when the SP is stable or high, when its in the doldrums, people are less forgiving and demand success or a change of leader / direction or both. Could you really look yourself in the mirror JD and tell yourself convincingly that LC has achieved more than you could of done given the money spent and time elapsed ? I suspect many of us would have been more successful. Add up the tens of millions spent, the dilution, the 6 years plus and what has been achieved so far ? Nothing as yet is the answer. All to play for of course and still a great gamble but don't kid yourself LC is the messiah, he isn't.
Boff, of course all investing is personal, it’s your own money, loss or profit, but you say ‘time is running out’. Really?
That would appear to be the PI attitude, not a long term investor attitude. MAST, Schumba, Termoeléctrica, all very happy in the past 12 months to give Kibo a majority stake in their company for nothing more than ‘faith’ and shares in Kibo, doesn’t really grab you as a company on the slide.
And that is before we even get to GE and SEPCO3 (who clearly don’t want to walk away).
JD
An element of what we do is blind faith, it has to be as its Africa and coal mining on the AIM so to try and put logic to it is very silly. The story is unfolding and making slow progress but time for LC is running out as all the investors will want a return soon and LC just keeps spending money without making any. He may have is day and say I told you so but nothings arrived as yet. Still a great gamble from these levels though as a big spotlight is starting to drift over Tanzania and coal and power production. Whether LC is the right man to carry it forwards is currently up for debate, in my book its a definite no but I am happy for him to deliver something and prove me wrong.
You are right Boff. 'Potentially' buying stuff is even easier. It's way past time for LC to actually deliver something for which investors have bought in here. We need an update on SEPCO although it seems reasonable to allow the board to go back to them with KIBO's position, presumably by the end of last week. It would be somewhat ridiculous if we then allow them a month to respond (i.e. effectively give them a new date to decide on buy-in) so I would hope for SEPCO's decision this week. If it goes into next year as was suggested earlier we will have de facto allowed a new buy-in deadline anyway.
Exactly my point last week, buying things is easy, completing things far more difficult, and so far one that kibo is unable to do
Time for LC to deliver something. Buying stuff is easy. Boring update. Needs progress and action.
Scrub the ‘nominal’ part. Read that wrong. JD
With that update. Showing a continued ‘build up’ of our strategy. ‘Shovel’ ready can only mean all Planning, feasbility and permitting in place and ready to construct. So really, it will just be the funding and financing of the projects that have to be gotten. Thinking about this, whoever is selling must be in a place where they cannot advance it any further than they have gotten and must be satisfied Kibo can. Interesting times ahead me thinks...... ‘Nominal’ will mean shares like MED I guess? JD