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Thats a fair point JD. The first site was supposed to be revenue generating at the end of Feb and that seemed to be independent of the MAST IPO. Now it could be the case that it is up and running but surely that would warrant an RNS
Maybe, maybe not, might be nothing more than the FCA sitting on it, possibly there is a problem with the first 9Mw Plant, investors may have pulled their cash…it could be almost any reason, but the only certain factor is Coetzee will keep us in the dark no matter what it is.
Another quarter draws to a close and yet again he's achieved nothing, at least so far!
JD
SgB
On this occasion it’s almost definitely out of Kibo’s hands, and down to the FCA. Just a little more patience required. ...
I am sure any MAST hold up in FCA related - question is whether they filled the form sin right or the FCA doing what they do best and taking their time
To be fair, SGB, any news of any kind would be welcomed. MAST is a “slam dunk” with investors lining up and PPAs agreed and he still manages to go nowhere with it!
JD
Don't need cash to develop the other projects - need PPA's first
I think its much more likely to see a return at KIBO through the projects at KAT then significant progress on CtP projects in Africa at the moment (esp Tanz / Bots - less so Moz but even that is dragging on)
market cap here is very low. can anyone tell the reason kibo still holding 25% KAT? i personally would sell off KAT to get extra cash to develop other energy projects.
Difficult to manufacture cement particularly without the use of coal and fly ash, and an even bigger problem for the building industry is a world wide shortage of build sand !!
https://www.bbc.com/future/article/20191108-why-the-world-is-running-out-of-sand
Coal/Cement
Cement is critical to the construction industry – mixed with water and gravel it forms concrete, a key construction material.
To produce cement, energy is required. Coal is an important source of the energy needed. A high-temperature kiln, often fuelled by coal, heats the raw materials of calcium carbonate (generally in the form of limestone), silica, iron oxide and alumina to a partial melt at 1450°C, transforming them chemically and physically into a substance known as clinker. This grey pebble-like material comprises special compounds that give cement its binding properties. Clinker is mixed with gypsum and ground to a fine powder to make cement.
Coal combustion products (CCPs), such as Fly Ash also play an important role in cement manufacture and in the construction industry generally.
Who knows, it’s a moot point, if the investment case is there the money will follow, make no mistake.
Considering where the cost of copper and all of the other sexy shinny metals are going you can expect the cost of renewables to go through the roof in the next 5, 10, 15 years. It will soon be (if it isn’t already) the domain of the rich in the West. There is still a place for cheap, reliable base load in the form of coal, and despite what some here may think it can still readily get funding and there is lots of construction expertise in it. The problem is getting African governments to commit to the CAPEX.
JD
Rocktapper
Kibo have many options and possibilities, it’s just a matter of getting something over the line and imho much could follow/fall into place as a consequence.
aimhopdyor
Is that debt facility still available?
Thanks Aerial, I knew there was a US$900 million debt facility in one of the RNS's! So funding is there for Moz if they chose to go down the mine operator route...
Louis Coetzee, CEO of Kibo Energy, commented, "Our recent correspondence with TANESCO further consolidates our belief that the MCPP continues to have significant economic and strategic importance for the Company, Tanzania and the region. The Project is located close to potential private offtake partners with whom the company has already engaged on their significant offtake requirements and TANESCO's active development of the interconnectors brought into play the clear and definite short-term potential for Kibo to actively participate in the growing power export markets. In addition to engaging potential local private offtake partners, the Company have also initiated contact with the various power pools referred to above.
Our recent appointment of Wimmer Financial LLP, to manage the structuring and provision of a project finance corporate credit line facility of up to USD 900 million, will help to secure our debt requirements for all our African energy projects and forms an important part of our adjusted strategic focus for the MCPP.
It is also important to note that the initiative referred to above is not subject to any TANESCO tender process / procedure and entirely unrelated and independent from the tender referred to in the RNS of 14 February 2019 and the clarification request mentioned therein.
I look forward to updating shareholders with details of our progress on the MCPP power offtake market development and on development progress across our portfolio during this very busy time for the Company."