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Just read the RNS it's full of s*** nothing confirmed, more de-risked noise
It's not. There are conditions (pre-commencement and post-commencemt) on the approval document which state that the development shouldn't commence until certain conditions have been met (mainly with respect to design). If a simple RNS was released to state that all planning approvals are in place and the conditions have been met and discharged then to me, that would be 'shovel ready'. It's not clear that the work has been carried out to get the conditions discharged. Hence, if not, there may be potential for delay. None of the conditions appear onerous at all.
http://eplanning.idox.birmingham.gov.uk/publisher/mvc/listDocuments?identifier=Planning&reference=2018/08546/PA
Rocktapper, every development in the UK is subject to Planning Conditions, sometimes these are pre-commencement conditions, sometimes pre-completion conditions, sometimes merely a monitoring condition, why would Kibo / Bordersley be any different?
JD
Bcl, I’m actually half expecting him to announce another project, from Slide 5 on the Presentation ‘Utilise expertise and network to identify new energy assets to further diversify portfolio’.
As I’ve said, it’s empire building. I don’t think he particular cares about current SP, MCAP or Shareholders, this is about creating a company that he is at the helm of that one day will be worth a lot of money and the guy will be perfectly happy to destroy any shareholder value at this point in time to do that. At the end of the day he can just keep diluting and consolidating the shares until he’s at a point where we has a company that will make him and his cohort a killing, we’ll be diluted to oblivion of course.
In his mind and he’s still getting paid on a monthly basis so he’s probably like ‘what’s the rush’ PPA this year or next, it means nothing to him.
JD
I think sometimes SYM the best tactic to recover losses is to step out when you see a more immediate slide and buy back in lower, given you still believe in the long game. I don't mean you btw but any investor, generally. With these long term plays there is always the chance of a delay and that normally means a drift. Maybe this time next year, things will look a little different.
Think the shovel has been mislaid!!!!!!!!!!!!!!!!!!!! Oh well, nowt is going on here until the New Year now so best for us all to just enjoy the festivities. Here is a question for us, has anybody made enough here this year to pay for the festive bird and the trimmings? A nice big ham for us this year, got fed up being invested in the ''turkey'' that is KIBO.
One has to ask or wonder whether at that price per share, there is a planned 10:1 consolidation down the tracks? It seems like that would be the only way someone would accept that level of payment.
A further point: the planning application approval for Bordesley has conditions which need to be complied with and approved by Birmingham City Council before the development commences. I think it would be beneficial to us long-suffering shareholders to know from LC whether the revisions required in the conditions have been carried out and approved by B.C.C. because getting the necessary approvals from local authorities, although not necessarily a problem - and often only a formality - can nevertheless have the potential to delay things. Much play is made of finding the right EPC contractors and getting the financing in place to see the project through but if you haven't got the fundamental agreement sorted with the L.A. to start then you're stuffed!
BCL,
The most advanced project IMO is clearly the MCPP. The block is somewhere with the Tanzanian Govt and related departments as to why this is not being moved forward. When that changes, I would class it as a game changer for KIBO.
Bots is a mile off and Benga, regardless of how some try to spin it is also a long way off. You've only got to look at some of the major certifications they still have to attain to see that.
Like I say Tanzania still is the best short term and large catalyst IMO.
JD - I think LC is or has become a bit of a megalomaniac. It is unlikely that what we currently have (which I think was too much too soon for working capital and dilution) will be enough for him. He appears to be disinterested in concentrating on and therefore seeing anything through to a conclusion. Where are with the MCPP? This has gone silent yet again. Its 'shovel ready' so lets sign the paperwork and get it done.
Slight issue is LC is KIBO, pretty difficult to make a change even as much as some want to.
I feel once some he can conclude one of the African projects we could see some decent progress here.
One way or another the RNS has certainly got the market excited.
‘Fruition’ is the same as ‘advancement’ It’s just buzzword garbage. It means Louis is preparing another £200k in salary in 2020 without actually achieving anything.
JD
Also , what on earth does 'to fruition' mean in this context? FC?
"This progress is reflective of similar advances being made across our portfolio; we are now well positioned to bring several projects to fruition during 2020."
A pretty loose statement that. Could mean anything. Does it mean MED Projects? Does it mean our African Projects? Does it mean that's your whack this year now **** off and let me enjoy Christmas you horrible little PI cannon fodder?
These guys who took shares at 5.25p must be ****ing furious. An utter shafting.
JD
I think the general lack of reaction (other than a 200K sell) to the RNS speaks volumes. When I see a RNS now it always reads as blah blah blah blah blah blah blah and I cannot be the only one. There's still plenty of time for MED quarter 1 to be missed.
Saw it was in auction and 5% up...was hoping for a little cracker there for a moment.