Member Info for bcl42

Probably due to LC clearly not interested in making any real progress, flogging off anything that might make some money and then watching our share disappear and keeping all the stuff that is going nowhere.

LC certainly doesn’t know. He is normally the last person to know what is going on in Tanzania.

KIBO don’t own 34% either.

If LC hits the September date it will be the first time he has met a date, albeit already revised twice. To-date he has only made extremely costly and dilutive placings so don’t be surprised when September comes and goes and more working cap is required. That’s LC for you. And where is the guarantee that it is not dilutive? LC also has serious history of saying one thing and doing something completely different. It’s best to take everything from him with a huge pinch of salt.

KIBO don’t own 40% currently. That’s before further placings and exercising of warrants.

So how many shares in issue after funding?

Yes LC’s presence actually has a negative value. I suspect there is a presumption that KIBO’s holding will eventually become negligible so KAT’s market cap is therefore irrelevant. A few more placings and the shares to funders will see KIBO holding probably less than 5%.

The Board are busy ensuring that KIBO has nothing other than the crappy African assets. They are spending a lot of time doing great stuff with KAT. Such as furthering the Haneti JV where the other partner gets to add another 10% of Haneti for £25k, yes £25k .

We don’t need more funds this week and there are no businesses left to hive off so it’s either the directors finding another way to increase their future income or, if we are really lucky, another non-binding agreement or renewal of one that has expired. Such excitement. (Or perhaps Botswana, another of our key projects is to be sold for £100k)

correction - 51% of MED

KIBO is losing anything that might be worth anything, Gold, Haneti and now MED and leaving itself with what currently looks be a load of worthless coal. Our share of KAT is already under 30% from its original c.60% and is highly likely to drop to a fraction of that. LC makes noises about retaining 51% of KAT but he says a lot of things, including that our shareholding in KAT would be maintained by shares being given in return for work done by the KIBO employees but the BOD have actually taken the cash as salaries - so they are able to do many jobs at once??

Good point. He is working on replacing his KIBO salary. Of course he is.

I.e. whatever we get for MED will not be enough to stop further dilution. Watch this space. Louis is clueless.

The missing action needed remains as LC's resignation. As long as he is CEO nobody will believe anything the company says. KAT will be the same. Existing holders will be diluted to oblivion before anything good happens there. we have just kissed goodbye to MED. It is being floated at the very point it might, and I say might, get somewhere which means we are likely to float at the lowest possible price. Nice one Louis, another piece of great business.

is a joke too

Lazygun your post is a perfect summary and as you say the SP says it all. Bid is at all time low. LC needs to go. He almost certainly sees this as an opportunity for a third salary.

The SP is most likely going to be 0.2p at the end of the day because LC has actually done nothing other than issue yet another RNS which tells us things will be done but they never are done.

It is not rubbishing the stock its being honest based on experience as opposed to the uninformed tosh about the market cap tripling to £1m by the end of the day when it is already £3m.

Its just more distracting corporate messing around. Louis appears to be believe that a good CEO spends all of his time raising funds and changing corporate structures. The real doing business bit never appears on his to-do list. And he still cannot spell 'Bordesley'. I wonder who is already lined up to take the 23% share of the business for a couple of grand.

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