Member Info for bcl42

Every time we get an RNS I have a moment of hope it might actually be something to do with progressing the projects. It never is. It’s always the next expensive cash to pay salaries or some pointless non-binding agreement or a change in share holdings or offloading an asset for peanuts or some more warrants. It is NEVER anything which has anything to do with actual, real, genuine, tangible, sensible, normal and expected (by any other business) progress towards anything which is of interest to existing or potential shareholders. For crying out Louis earn at least a tiny bit of your salary and do something worthwhile instead of just concentrating on stopping the company from going down the pan.

21% in fees. Louis really is an outstanding businessman. The shares can be offloaded over the next few weeks so the funders have picked up £63000 for virtually nothing. Nice one LC.

I think she had a major hit with 'LC is a loser but Que sera sera'

But more substantive than a KIBO RNS

I cant work out if that is a yes or a no.

Serious question SirG, are you being serious?

It remains a nightmare as long as LC is part of it.

Probably been pulled down as LC couldn’t get agreement from the locals to put them up in the first place.

I am unable to give any credit to LC as he has achieved absolutely nothing here other than completely destroy any shareholder value. I also do not accept that PPAs, offtake agreements and any other commercially positive agreements can simply be written off as not within the control of the CEO. Most things in a business could be described as such as it almost always takes 2 parties’ agreement to make anything happen. A commercially capable CEO (which certainly does not describe LC) makes things happen and is not the permanent victim of circumstances.

Please remind me of the significance of 30th September and why would LC consider it to be different to any other deadline, that is to say completely meaningless.

Actual PPAs and off-takes on Moz would be helpful rather than the perpetual 'manana'.

Just playing with numbers here. With 5 billion shares issued and my current required break even of 3p the company would need a market cap of £150m. If we have consolidated 10:1 and still issue 5 billion shares I would need a market cap of £1.5 billion to break even. At some point we are hoping to have to issue shares for a 70/30 debt/equity funding of a power plant. If the 30% equates to say £150m how many shares is that and at what price? Is LC therefore effectively allowing for a further 3 billion shares to fund £150m or 5p a share without consolidation or 4.8 billion shares at 3.125p with consolidation? The latter equates to a rise in SP from today’s post consolidation SP of 1.75p to 3.125p and I would need 30p to break even.

To consolidation? Either tell us it was and is not needed or that it still is but we know shareholders won’t allow it. I don’t get why LC has chosen to increase authorised shares rather than consolidate. One minute the company needs to increase its potential for issuing shares by a factor of 40 the next it just needs 2.5 x current. Explain what has happened to change this or just treat shareholders like a bunch of idiots. Where is the explanation behind the rationale? There is no real communication with shareholders at all. LC treats is with utter contempt. Lowest ever SP and LC continues his best to get it even lower.

What does LC think he is telling both current holders and the market? Is it a case of ‘stuff you lot we will just achieve what we wanted to do at the last EGM in 2 stages’? If it is then LC may as well just come out with it. If it isn’t then he still may as well come out with it. As things stand I will vote against the motions again. I will get more pleasure from seeing LC go down the pan with this than allowing LC to make an income which is completely disproportionate to his ability and his performance.

I presume LC’s plan now is to do exactly as before but in 2 stages.

I think we might have expected an update on interconnectors etc since April 2019.

This has been valued at £30m in the past. My hope is that Moz PPAs and offtakes plus MCPP revitalised we could see same market cap again but with 2billion shares 1.5p rather than 10p as it was then. £60m and I will break even.

With an average of 3p I would genuinely see 1.5p as a major result and you would have a nice little earner.

I stupidly chased the SP all the way down from 6p to 0.45p and now have an average of 3p. I cannot expose myself to any further cash in here as I am already struggling to forgive myself for what has turned out to be a ridiculous huge ‘investment’ in such a poorly run company. LC has cost me a lot of money and the angst which goes with making such a poor decision.

I cannot pretend that the fact that £5k currently buys about a third of my holding is not a huge windup.