Member Info for bcl42

I think my earlier posts just posed some
Interesting questions regarding both the tender process and it’s timings.

As it stands there is no reason to expect a decision on the tender in 3, 6, 9 or 12 months. They are just arbitrary periods. We don’t even know how long the first stage of the process will last and with the company guessing 3 months and it’s history of guessing timelines it’s highly likely that will be way too optimistic. We then have absolutely no idea on the second stage other than pure guesswork. The only short term potential positive news is the SEPCO buy-in and this seems to highly likely to be postponed again against a backdrop of the GoT being completely clueless. Unless of course SEPCO take advantage of the situation and take a flyer on KIBO at 2p and obtain a15% buy in for about £3m.

I don’t really get how a tender process actually works for the provision of power. One way or another we need a PPA so with a tender we stick in our price for the power and the GoT compare it with the other tenders and the lowest one wins or if we are the only one we win? It’s actually a total nonsense. One way or another the government have to commit to paying someone a price for power. The only way a tender works for them is if there is a real bidding war with a number of tenders all competing wth the lowest power price. This isn’t really going to happen.

Foxy. A gracious response which is appreciated. Thanks.

Foxy. It’s great that you and whoever makes up the ‘some of us’ don’t view KIBO just as the MCPP. It’s a shame though that you can’t make the point without adding the word ‘sensibly’ just to get a dig in at others who might have a different (but nevertheless valid) view. Your point would have been better made without the dig as you would obviously think it sensible to hold your view as otherwise you wouldn’t hold it. Emar all views are welcome here, no need to be shy.

-13.8%now. Disaster

‘We are now waiting for a definitive date for completion of Phase 1 from TANESCO but expect this to be completed before end of 2018.’ ‘ A definitive date for completion of Phase 1 expected from TANESCO before the end of 2018. I can read perfectly well thanks. Neither of these is a timetable and there is no mention of when stage 2 (or is is Phase 2) will happen. I think you might wish to Re-read it.

SirG sorry to be picky but what tender timetable? We don’t have one. That’s one of the many problems.

I think most, like me, are very much focused on the MCPP and the SP is 99% driven by what happens or doesn’t happen with the MCPP. Therefore I think it perfectly reasonable if not very sensible to either confirm to shareholders like me who make the assumption that the PPA and SML are prerequisites, that they are correct,or, if they are not, provide them with the very good news that SEPCO should be able to buy in on or before Nov 30th. Either way it’s not exactly rocket science.

SirG that is my point. They are not listed as prerequisites but somehow you manage to interpret that as meaning they cannot therefore be required to be in place for SEPCO to buy in. I don’t know how or why you can make that assumption. I can reasonably assume that there is no prerequisite for LC to have a sex change but I do t think I can reasonably assume that SEPCO do not require the SML and PPA to be in place. I think it is an understandable question to ask but it is a perfect example of something I have asked LC which he thinks it perfectly reasonable and polite to completely ignore Foxy.

Thanks for the reply foxy. I think it’s a shame that LC picks and chooses to whom he will respond. It has definitely alienated me to some extent and I think that it makes him look weak.

SirG - let me get this straight. Are you saying that because the RNS does not say that the PPA and SML are prerequisites we can all be sure they are not? The fact that there are prerequisites but they are not listed means we can assume there is nothing on the list. Priceless logic.

Anyone hanging his or her hat on the clarification of the process today should remember that this is only the current process in a long line on current processes. Like many I am sitting on a huge loss and have no intention of buying any more shares here so all the sly remarks about agendas from those that believe everything the company does is just
marvellous are unnecessary. The decision to buy here and to hold is 100% mine and mine alone but I and and any other holder have every right to be confused, annoyed, angry, fed up or whatever with this saga which just runs and runs and runs.

SirG I asked the company on a couple of occasions if the buy-in depended on SML and PPA being in place. The only answer I received was that it was sensitive information so they could not tell me. So your definitive answer is based on the fact that there has been nothing to say that these are prerequisites. Interesting.

Foxy - I haven’t had a response to any email or text I have sent to LC in the past year or so. He certainly doesn’t communicate with me and I am always respectful of both him and his position and aware of what he can and can’t say. There may be other shareholders here that receive replies from him, are you one of those?

SirG what do you think does need to be in place before the SEPCO buy-in? SML? PPA? I ask because I, like most I suspect, am assuming the current mess will result in November 30th coming and going and another meaningless date being plucked out of thin air.

Follower - with all due respect you have to be kidding. What timeline? There is no timeline. We might have been given an order of events but there is no timeline whatsoever. Please would you let me where you have seen a timeline.

Sonic that is indeed the only definitive piece of information in the whole RNS

I will have a go then. Phase 1 = same thing as Stage 1. We have no date for completing stage 1 or phase 1 but expect//hope/wish it is done by the end of the year. Stage 2(Phase 2?) - no timeline whatsoever (same as stage 1/phase 1) completely open ended so this could be a year or 2 after stage1/phase 1. The RNS is a complete waste of time. Again we were better off without it as it adds nothing but more uncertainty.

Phase 1? I get that there are 2 stages in the tender process but what is phase 1? Please forgive me I am probably having a thick 5 mins.