Member Info for bcl42

The answer to your question depends on the evidence at the time. In this case that doesn’t mean to say what happened today or last week but over a reasonable timeframe. I have 5 years plus of evidence and although any well intended CEO can fail it is also about how they fail. IMO LC has been and continues to be very economic with genuine information and appears incapable of any financial planning further ahead than the end of the current quarter. To be fair any CEO has to be optimistic but there is a difference between that and stringing people along. LC knows one of his selling points was/is that he is well connected in parts of Africa. In our case, to-date that has not been evident and if true he should have read the Tanzania situation way before he did and stopped kidding (I am being generous) himself and shareholders way before he was forced to do so. We all know that he chooses who he speaks to which is a massive no no in my books on so many levels. He takes no responsibility for anything. He actually thinks he is in a position to have a go at long term PIs by suggesting they are a get rich quick brigade. He has tried to replace the MCPP, Haneti and the gold fields but pretended it was always the plan. Who is he trying to kid? The placing at 0.45p was a mistake, I.e. far too late and never planned but purely reactionary. I get that he had no choice then but to partake but accepting the warrants was unforgivable. It’s easy for me to say but I know for sure that I would have waived the right to them as my self respect would have made me. LC is never going to be a genius. He may rescue KIBO but the way he has (and continues) to manage himself and his shareholders leaves a lot to be desired. I can afford to lose every penny invested here but I don’t have to like the way it was lost.

We will see. Somehow or other I can see KIBO shareholders being ripped off.

We should have picked up at shed load of shares when they were at 0.4p then.

Even if it is only 50% of his time we can save £125k+ of cash. Even though we own the majority of KAT there is no reason for them to have the use of a free CEO, particularly when he is doing nothing at KIBO. The same goes for any other of our paid BOD who are working for KAT. Why should KAT's other owners benefit from KIBO's expenditure?

Presumably KIBO is charging KAT for LC rather than leaving all his costs in KIBO? If so it must be 100% of his costs so far in 2020.

There we go back into the 0.4's. Much more silence from our esteemed 'leader' and we could see the 0.3's again.

SirG - This is LC led. Have you not learned anything from KIBO?

SirG I would not be so sure.

Fair enough. just over 2 years ago (I do not know how long it will be to actual KAT production) KIBO had 150 million shares in issue. It now has 1.25 billion plus committed warrants of another 640 million so, in effect, 1.9 billion or over 12 times as many. The most recent placing also had the effect of allowing the BOD to accumulate a lot of shares and warrants at the lowest possible SP. I dont think they have yet had that opportunity with KAT, just a thought.

All done with no further dilution??? Be very careful with such calcs as someone came up with £2.28 for KIBO and it is currently 0.5p

First year:
8750 oz to KAT
AISC = $800/oz
Profit margin with Au at $1600 = $800/oz
Profit = 8750*800 = $7,000,000
USD/GBP @1.3 = £5,384,615
£5,384,615 / 184,355,462
SP = 29.2p

Still a ten bag from current buy price at 2.8.

‘The Tanzanian Government are very supportive’

‘Our stars are aligning’

‘At a tipping point’

As we have all seen time is something which costs us dearly. A delay by 6 months, which for KIBO is nothing, could cost us another billion shares after a share consolidation. It is not a question of ‘whenever’ it’s a matter of urgency that we get something achieved rather than continually just making good progress.

At least we will have cash flowing into the company from MED starting in the next 4-5 weeks???????

‘ "On a wider level we are in Maputo this week continuing negotiations with Vale Mozambique to finalize the Power Purchase Agreement and Coal Supply Agreements for the Benga Power Plant Project for which term sheets have already been announced. A strange use of the word ‘finalise’ given that nothing has happened since.

The truth is that the directors’ handling and involvement in the last placing and warrants has undoubtedly and understandably left many with a huge feeling of distrust. So the question is if they can shaft PIs once why not again?

It’s quite an achievement to go such a long time with absolutely no news of progress on the African projects.

I think LC is going out of his way to ensure KIBO is going nowhere, at least for now. Why might that be???

I listened to the interview. On the basis of 11 minutes from the CEO I can only conclude that she went on the same communications skills class as LC. What a load of waffle. After 8 years (presumably drawing a £1/4million salary like our CEO) they appear to be nowhere. The interviewer appeared to be shell shocked and incapable of asking a question which shareholders or prospective shareholders might find interesting. E.g. what are next steps and when are they likely to happen. AIM is indeed a very strange place.