Member Info for bcl42

There is no doubt that any funding from SEPCO will be the catalyst for the SP flying.

One of my favourite albums.

'aiming for execution of a final binding PPA in Q4 2019'. To be fair (and also realistic) JD, KIBO have a appalling record of hitting any timeline let alone an 'aim'. MED in production has so far slipped from Q4 to commissioning at the end of Q1 and, if I were a betting man (which I must be as I hold shares here) I would bet that it ends up as Q2, Q3 or Q4. There only 3 certainties in life, death, taxes and KIBO disappointing. Maybe the last of these will change, we will see. Most important requirement at present is some open and honest information on funding.

Today to some positive but not definitive news. We need to get the funding issue sorted before we see any major buying here. There is fear of a placement in the very near future which could be lower than than the current 0.8p and this needs to go away.

Yep. After 5 years these term sheets prove he has been working like a Trojan. Very welcome but I don’t think they alone will quite cut the mustard.

I am wondering if a new share par of 0.1p is low enough.

He has consistently told us over the past 5 years that he is not worried about the share price. It’s about time he started worrying because everyone else cannot be happy with an all time low and still dropping SP. It’s all about SP (not over a day or a week or a month) and LC just doesn’t get it.

Aerial I think LC has made it abundantly clear he couldn’t give a toss about the share price.

Benga was closing in on PPA/off take agreements back in January. It’s only 3 months of our stars aligning so I would guess sometime next year before they get to a tipping point.

I cant remember when we had the 'Stars aligning' comment??

Absolutely agree Aerial. Where are we at?

I have no issue with the reduction in par other than the potential message it gives out regarding the short term. It also has nothing to do with diluting. That's all about LC pulling his finger out and delivering something, anything, and the passage of time and the market cycle not being the friend of a tiny AIM company with no cash.

A realist here would certainly accept that we have the serious potential to be diluted to oblivion if LC doesn't pull his finger out sharpish. I am a realist so I accept that.

We might indeed. But, if not ( and KIBO is always a case of 'if not') annual working capital (we now have ML costs too) raised at a SP of 0.5p (which is certainly not out of the question) could see us issuing 400m. MED is still very much an unknown in terms of any contribution to cash requirements. And who knows what shares LC might give away for yet another project. We had 150m shares 4 years ago, we now have 800m and counting. We added this further 650m shares at 6p, 5p, 4p , 3p.......Now we are likely to be adding at sub 1p. Its not a case of anything is possible at all, it just requires a couple more years of faffing and waiting for the next cycle and some simple maths.

The problem is though Mike that we could end up with 2 billion shares as we spend most of our money on 'the passage of time'. Time = dilution. After 5-6 years of going nowhere we don't have the luxury of waiting it out for the next cycle.

Therefore by definition there is no big news to come in the short term. i.e. LC has absolutely no confidence that the SP will rise to 1.35p anytime soon. That does not mean that its wrong to take the action but it still tells us a lot.

In fact if it does so the BOD are going to look a bit stupid so there has to be zero chance.

The most disappointing aspect of the change to the share par value is that it clearly tells us that the BOD think there is no short term expectation of any progress taking the SP permanently above 1.35p. After all this time that’s the shocker for me.

JD you are, of course, welcome to cordially disagree. I have not had an expectation of the SP hitting unbelievable highs at any particular moment but I have expected it to reflect (again not necessarily at any given moment but over time) actual progress made by the company and belief in it achieving its ultimate goals. The market evidently still remains completely unconvinced that LC will get anything over the line regardless of Bankable Feasibility Studies or mining licences or environmental permits or letters of intent with various potential suppliers or fantastic relationships with various African governments. At this moment we have no cash, no PPA's, no sign of FC on any of the projects and no sign of any substantial (or otherwise) funding from any of our world class partners. But 'our stars are aligning.

I topped up because I honestly thought our stars might well be 'aligning' and it brings down my average to 4.2p so they only need to align to that extent now. This would allow me to jump ship at an earlier point - maybe even if we see 2-2.5p for another brief moment again as we did one afternoon a couple of months back and I only have to take a 40-50% hit on my investment as opposed to the current 82%. The lack of real news is excruciatingly painful and LC is a complete windup when he comes out with his perpetual view of not being bothered about the SP. This is the one view that he holds which is consistently and completely evidenced by real life. There is also the possibility that LC will indeed shock me and really deliver something and there is also the possibility that I have just chucked good money after bad by continuing to back a lame horse.