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Also JD assets are only worth there value if they can be monitized. Something LC has yet to come close to doing.
So to hold onto the recognised % of around 30% KIBO would have to raise $100m.
That may have been possible once but not now. I'm afraid LTH are shafted and only new investors may pocket from an entry point hereafter.
I'm expecting to re enter around 50% lower than this current price, as over the coming days I expect a big sell down here with people all trying to protect their capital.
Re: Equity Costs for the 1,050Mw portfolio, I reckon about $1b in direct Equity needed at around 30% Equity / 70% Debt.
JD
Even at the Assets on the books this is worth 1.6/7p per share at 1.9b shares in issue. That’s why the set price on the placing and warrant were a joke. I guess they did this to ensure it was a success, well, it was in that regards and everyone and their granny took up the placing, which tells you just how under priced it was IMHO.
JD
Very good point and one I have also been mulling over. KIBO have now got so low funding equity from there own shares is now another massive dilutive issue.
Alot to think about overall.
This is one share you DON'T want to be in over the weekend.
I do sympathise with you there staystrong.
A recent very telling point for me was when I asked why the facility was not used, instead the company opted for its largest placing in recent times at its lowest SP. That to me told a story that Sanderson's were not happy with the way this was all going and were not prepared for KIBO to run up a forward facility they cannot repay.
Therefore despite JD,s swing trader comment (subtly deramping when he has sold at times) the fact is the company is probably into next spring next year before anything material is announced re the African projects. Yes we may have some joy with the MED project but this is a keeping the lights on deal, not company making. The facts are JD hasn't got one thing right with regards calling this SP and it's outcomes.
If news is so close why have Shumba not taken part in the placing? Sanderson's will flip and those that have taken shares will hold on in the hope that for the first time in LCs history he can actually announce significant progress.
I shall now wait possibly coming back on board here in the new year, probably at a 25% discount to the placing price, once Bordesley gets delayed and nothing else has come from Moz.
I do find it difficult to reconcile myself with the number of shares we have and will be issuing, 1,911million. Funders of the projects are going to be looking at say 30% equity on funding costs running into £billions for 1050MW. I can’t recall the MCPP capital costs but a figure around $500m is in my head. £100m of equity even at 5p is another 2 billion shares. £300m of equity at 10p is another 3 billion shares. We could easily end up with 5 billion+ shares. Unfortunately I see a share consolidation as inevitable to pave the way for multiples of the current level of shares in issue. It would be great if the company could now be sold for the $100m valuation we have previously used for Sanderson. That’s 6p which I would currently take and run.
All in all it is desperate in my book and i find it difficult to see it any other way. i do see the SP rising but those of us who thought 15p ish well I kiss goodbye to that and realistically I don't think we will see 5p either. it's difficult not to be frustrated at LC no matter if you think he is a decent bloke or not. The stars quote was a corker along with expressing his doubts at why the SP was at the level it was. I have really got emotionally involved with KIBO and that has been my mistake. I'm switching off for the weekend now, lets see what Monday brings hopefully there are some positive RNSs down the line for us to start a recovery of some sorts. GL all holders whatever your views.
It's a sad state but Staystrong look at it realistically, what you don't want to happen is happening slowly so for LTH it's over those at 6-7p like myself and others.
bcl42 and there is now the problem further dilution as we fund the projects. I was prepared for that and your estimate of 40m market cap but the number of shares that are now going to be in issue with further dilution, I'm really finding it tough to remain positive. I'm in and staying in but hand on heart this is desperate I just hope I am very wrong and JD is very right. GL all.
Who is this Yakoub Yakoubov, is he or she feeling alright buying so many shares in Kibo as an individual investor, wow that's complete madness
Looks like the days of 6p are long gone now, I'm just thinking those happy clappers who kept putting down people who made sense, where are those jokers now apart from bragging how many shares they have. Not worth anything now pretty much
Just to keep things in perspective 2p with 2bn shares is a mere £40m market cap. That does of course ignore the prospect of further dilution as we fund the projects.