Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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JDT I think you have to consider the state of the market at the time and the financial position KIBO was in. Given all the hassle some major companies were facing in Tanzania at the time it was hardly an attractive option. How good is imweru? Even now after a big gold run whats the latest position. If I recall MetalNRG pulled out of an acquisition of lake Victoria Gold.
But SirG. When you look at the fundamentals of Imweru, LC (in my view) “gave it away” for a NSR which will not being any near term cash to the balance sheet and some fairly pathetic up front payments that are actually not so up front as they are a year or two down the line.
Surely if you are divesting assets, which I agree is a sensible decision if you have more than you can cope with, you do that in a way that bolsters the b/s to fund the projects you have kept!
I agree. Blyvoor has to proceed and why I’m holding!
the thinking behind Katoro and spinning out the assets made a lot of sense at the time. The amount secured for each asset and what's happened since you can question.
KIBO was struggling and very mush viewed as a junior explorer in the mining sector. Divesting Imweru, Haneti and focusing on Energy Projects (primarily CtP) made sense .. ie trying to position itself in the energy sector and not the mining sector made sense. Spinning off MAST again makes sense in that its clean energy vs 'dirty' coal ... you would attract more new investment in something thats not also associated with coal
Blyvoor has to work. Simply on the premise that it started off as a three month project to get funding . Whilst covid has led to the majority of the delay the RNS released by the company have indicated its bigger in scale and opportunity (14 interested parties / need for further drilling & site visits etc / optimisation plans / gold prices) than originally envisaged (either through inexperience or good fortune). So to come back with nothing would be a disaster and possible misleading
The issue is, the SP looks like it is moving more than it is because of the baffling small trades either side. People buying/selling less than £10 worth??
Hell just spin assets off into a new company to entice in new investors after he has diluted shareholders to oblivion in the current one. He has jack all holdings in any company he runs.
How do you think Katoro came about? They were Kibo assets. MAST just ipo’d today which again is a portfolio of old Kibo assets.
It’s the definition of a Ponzi scheme. The man is an out and out crook.
I’m the mug though tbh thinking I could make my Kibo losses back here.
Dilution - waffle RNS - dilution - a few more repeated tweets - dilution - bod get share options granted.
All the while we pay his fat salary for delivering jippy sh*t
Ironically it’s LC’s record of failure that makes me think he has to pull off the Blyvoor financing deal. If he doesn’t then his credibility will be zero and who would buy shares in a placing?? He will have nowhere left to turn and he will need funds for Haneti drilling. Sometimes adversity is what you need to face in order to become successful!
Agree with the 50:50 odds. I’m that much down that I may as well hold. If Blyvoor financing deal comes off we will all be well up I imagine.
The current SP is bellow the placing from June last year, so the Directors are now underwater.
50/50 on either a placing or closing of the blyvoor financing. Gla all. I will be watching from the side lines.
It’s been an average of £20K worth of sells daily for the last 2 months...
Couldn’t agree more
As I've said before, I have £40k invested here. I'm now fully expecting to see 0.5p before we hit 5.0p.
Will I abandon ship? No.
Hold onto your hats!
GLA