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jdt1990
I think many would agree !!
All imo pdyor
Bcl42
My point was that many had Edenville written-off years ago, which appears to be your current view of Kibo!?,....BUT imho because Kibo haven't succeeded yet doesn't mean they never will.
Reminds me of the first (and ONLY) conversation I ever had with the infamous sonic many years ago. He was as I remember a Kibophile, and was of the opinion that Kibo were light years ahead of Edenville, but it didn't matter as Edenville would never make it :) Just goes to show how wrong people can be!.
Edenville might not be a good example of a business whose success we might wish to emulate, and to a degree I agree, but success in any form is a word that can't be used to describe Kibo to-date. As I said because Kibo have yet failed to achieve success doesn't necessarily mean they never will. Unlike you I think Kibo will eventually have much success ONCE (if) they manage to get their first Project over the line.
All imo pdyor
Market cap of 4m here would put me in profit and I could run for the hills! Would be delighted with that!!!
I genuinely applaud the positivity Ariel but I honestly don’t think EDL is a particularly good example of a business whose success we might wish to emulate. It may well have 40 staff and be producing revenue but it has a market cap of £4million.
Whilst I understand (as a very lth) the feelings behind every word that is being said, it is quite a pleasant change to briefly talk about one of the projects!
It is the case that although the company have failed to achieve success to-date doesn't necessarily mean they never will.
Look at Edenville (currently covid-19 closed), but with 40 staff and a revenue producing coal mine with contracts and money in the bank. Most, including their own investors had them written off years ago!
All imo pdyor
RNS 21 May 2019
Highlights
· MED has today executed a Sale and Purchase Agreement ("SPA") to acquire Bordersley Power Limited ("Bordersley"), a Special Purpose Vehicle ("SPV"), from Balance Power Projects Limited ("Balance")
· Bordersley will comprise a 5MW gas-fueled power generation plant, supported by:
o an option to lease the land which would be the project site ("Option for Lease")
o a Grid Connection Offer (to be novated to Bordersley); and
o a Gas Connection Offer (to be novated to Bordersley)
· Completion of the acquisition is subject to satisfaction or waiver of the Conditions Precedent by the Longstop Date of 14 to 21 working days from the date of SPA execution:
o Novation of the Grid Connection Offer and Connection Offer Novation to Bordersley
o Completion of the Option to Lease novation to Bordersley
o Completion of a deed of variation of the Option for Lease pursuant to which SWB Power Ltd is replaced as Guarantor under the Lease by a person nominated by the Buyer.
o Receipt of various planning and title permissions and reports
o Comprehensive technical and economic Due Diligence performed to MED's satisfaction
· If the Conditions Precedent have not been satisfied or waived on or before the Longstop Date the SPA shall terminate on the day after the Longstop Date unless an extension is mutually agreed
· Completion shall take place on the fifth business day after the fulfilment or waiver of the last of the Conditions Precedent or any other date agreed by the Seller and the Buyer in writing
· On Completion:
o MED will pay Balance GBP175,000 in cash consideration and reimburse Balance GBP2,000 in costs related to the Gas Connection Offer; and
o The existing directors and officers of Bordersley to resign, with Louis Coetzee and Pieter Krügel to be appointed as directors of Bordersley
· Warranties, representations and undertakings typical of a transaction of this nature are included
· Engineering, Procurement and Construction ("EPC") proposals have been received and multinational Clarke Energy has been selected as the preferred EPC contractor, and peaking power generation construction specialists Encora Energy selected as preferred Owners Engineer
· Subject to successful financial close and notice to proceed, and no external connectivity delays, targeting commercial commissioning of the Bordersley site in late Q4 2019 / Q1 2020
This is our site. Philip Thompson was a Director of the company that made the planning application. He resigned as a Director of Bordersley Power Ltd last year.
I think this is the planning application. You can search for it on Birmingham City Council website and see the associated docs.
Installation of a gas standby power facility at Land at Liverpool Street, Digbeth, Birmingham, B9 4DS
Application - 2018/08546/PA
Located the site in Liverpool St, behind the bus station, will forward any information i get from local guy
The BOD could't afford to buy a shovel, so they've raised 1 million £ for a very expensive one, Unfortunately they've just used all that for their back pay to Feb 2019 so they can't now buy a shovel, hence the 1 year delay, but rest assured they will have another placing shortly for another million and now they are on 60 % salaries, they will be heading to Homebase to get one .
Too far back for me to find, i did locate the site before, "shovel ready" (*)
We have had this debate previously, and I'm sure Bcl42, JDwag or others will fill you in as I'm currently on a train on my mobile.
All imo pdyor
Lol
The road? No one is even sure of the correct spelling of the Project name..
What is the road name where this site is, i have made contact with a friend that can give us a site update