Member Info for bcl42

I note the bid remains at a whole 0.25p.

Another 900% and I will be laughing.

Gillie - Interesting and balanced thoughts and questions as usual. If I were LC reading your posts I would think 'this chap seems a sensible and reasonable PI and is asking very sensible questions which I should answer for him and other investors in a RNS'. But unfortunately LC does not think like that. Clarification and information is not something he considers useful for investors and the market as a whole.

We might make it to 0.3p on the bid and then drop back to 0.15p like we did last month. Whoopee. Sorry to be a party pooper but there is no reason for it to be any different at present. The trend is still downward.

What did LC repeatedly tell us about the political and business climate in Tanzania? Answers on a postcard.

Xerxes - it is really difficult to take your reflections seriously when you come out with the phrase ‘ Over recent times I have thought that folk have failed to give LC credit’. Unless this is a very subtle piece of humour it is a ridiculous statement. The only excuse for LC’s atrocious performance, I.e. delivery of shareholder value which is the ONLY measure for a CEO, is ‘it’s a long game’ and that excuse has now been and gone. I am all for giving someone a fair crack at something but for what are we supposed to be giving him credit, punctuality, dress sense, being so thick skinned, ignoring shareholders?

I suspect they are right Wimbo.

LC doesn’t understand that it’s the selling bit that is the harder bit in business. Agreeing with potential suppliers that you will buy millions of pounds of kit from them if you get to build a power plant is not that difficult. I have secured a deal with my local Porsche (World class supplier) dealer to supply me a car when KIBO hits 20p. The missing bit here is always the lack of someone willing to sign up to buying the power. LC is really poor at that bit of the equation.

LC et al now appear to live in the same world as Corporate Lawyers as Financiers. That is where it doesn't matter if anything positive is happening as long as there is something going on and money is changing hands. Other people's investments, interests and livelihoods are of no consequence so long as companies are being bought and sold, restructured and refinanced. That certainly rings a loud bell with KIBO as anything but project progress (if we had made 10% of the talked about progress it would be a different story) is the content of every single RNS. Unless you include non-binding agreements being signed and signed again and world class suppliers being mentioned but never actually used.

You have the wrong man there matey. My confidence in LC et al disappeared a long while back. Strangely I had a lot of confidence when I bought at 5p and 6p (hence the buys). Your post is typical of the past rubbish of yours on this board. You were the plonker on here some months back spouting all sorts of rampy stuff and then you appeared to change your tune completely. Welcome back!!!

Wimbo - your point regarding clarity is crucial. LC appears to believe that’s it a great idea to only let shareholders know the bare minimum on everything. I don’t understand why.

BUT as a very interested shareholder I struggle to reconcile that statement in April with the fact that Shumba had sold all or most of their shares by that date or very close to it. That’s why I seriously question LC’s ability. What message does he think both Shumba’s actions and his lack of recognition of or response to them gives to KIBO shareholders? To me it suggests that he is possibly clueless.

Realistic

Nope. I just have no time for new posters who try to tell others what to think, how to think and what to say.

When you said 'moving along' Kiwi I got quite excited bit you are still here

No-one said there is no value in KAT. It is certainly diminished as a result of dilution, that is just a fact. I said the whole business proposition for MED is debatable. I also said KIBO has as much chance of going bankrupt as it has of succeeding and I still believe that and I cannot therefore add any further shares. Twisting stuff to suit your agenda is pretty poor.

That says it all for me - KIBO allegedly had 3 x $750m projects. It is currently worth £2.5m. QED

Great post CF. Just for the record KIBO's share of KAT has been diluted on multiple occasions. It has almost halved, so far, and is almost certainly going to reduce further.

Wimbo. I was indeed there. During the actual meeting I got the impression that the Moz project was steaming ahead and it was all systems go. 18 months later we are still being fed the same old KIBO ‘project progressing’ stuff which has worn extremely thin. In all honesty I don’t actually believe anything that Louis says. I really don’t. That is based on the fact that he has issued so many RNSs which have contained expectations/promises/predictions/plans/timelines all of which have come and gone with nothing of any consequence other than the destruction of KIBO’s SP. I note that the Baobab’s PPA is now scheduled for ‘beginning of Q4’ but I thought the binding term sheet expires at the end of September. Why not agree the PPA before the end of Q3 or does everything have to be late?

Nice one Aerial. I am happily distanced these days from the bean counting part though. I am a very lucky person. Lovely wife, 3 sons, beautiful little grandson, good health, nice house and have continued to work all through these terrible times. The only thing that really winds me up is KIBO. Not because it has performed badly but because I think LC and the BOD treat PIs with utter contempt. There is a complete lack of respect in terms of the lack of communication, the method of communication (the Q & As were a joke as they were LCs questions to himself), the content (repetitious and with least possible facts), and the out and out ridiculous inaccuracies and predictions. What tops all of this though was LC's attempt to pretty much take over the whole business for the cost of forgoing a few months salary. That was truly astonishing and tells us all exactly how LC and the BOD see themselves versus PIs. Other than KIBO I am actually a happy person doing all the normal happy things. I cant pretend I am happy to lose a shed load of cash here but all of the aforementioned things are far far more important.