Member Info for bcl42

For some reason I have 1.8 billion shares in my head?

KIBO is summed up by its inability to hit any deadline. MED was originally Q3/Q4, then Q4, then by the end of 2019 and now targeting the end of the first quarter in 2020. That decimates people’s confidence. We were also told at the investors’ meeting that Moz govt and Private offtake PPA negotiations were well advanced. 6 months later nothing. It’s just poor form.

This still has the potential to do great things but LC really does need to start ticking some of the key milestones off the list sooner rather than later. I can’t see anyone (unfortunately not me) who was able to pile in at current levels
not ending up as a winner if this happens.

So here we are half way through 2019 and nothing has changed. The SP is below 1p and currently heading in the wrong direction. The timescales as given in the FE note (along with MCPP a few days after it’s publication) are all shot to pieces but we continue to make good progress and our ‘stars are aligning’. LC continues to draw his substantial salary from a £7m business with no cash, no mining licences, no PPA’s, no financial commitment from any of its partners, no BFS for the newest projects and no director share buys even at the bargain price of 0.675p. Suppliers are being paid in shares and no further funds can be raised without lowering the share’s par value. Even if MED are generating cash in 2020, which given KIBO’s track record is doubtful, how is the company going to get through the next 6-7 months? I think it can we safely said that things ain’t looking that good at present. Unless, of course, one completely ignores the facts and LC’s and KIBO’s history.

I am gobsmacked by the welcome being dished out to someone who has written ‘Can anybody bring me up to speed.
Wimbledon you get them on every BB mate. I normally stick to Twitter and will be pushing this when I have got the position I need. - cynical and arrogant beyond belief. But those that judge someone purely by their positivity wouldn’t see this. The good news is that I am now out of this board. I will remain a holder but leave this board for those wishing to blow smoke up each other. Enjoy and genuine GL to all (if you win I win)

Classic KIBO

Drax I presume that was said with tongue in cheek?

Does anyone here have experience of a share being suspended? What are the triggers?

With a heart attack the last thing I want is the doctor telling me it’s nothing just carry on as usual.

We will never achieve anything while our CEO doesn’t recognise when things are bad. That doesn’t mean running around in a flap but at least realising that there is a problem that needs solving.

are we going to make assumptions about LC delivering a curved ball or pulling a rabbit out of the hat? He has zero history of this, in fact the complete opposite.

To be fair Mike you are missing the point. We are currently paying LC et al to fail abysmally. We could pay an achieving CEO who knows a crisis when he sees one rather than one who thinks everything is just fine and we have had a bump in the road.

Wimbo. As it stands there is zero going for this share. My guess on any news is a month as LC appears not particularly bothered about anything. According to him everything is rosey which is the last thing I want to hear when we have lost 90% of our value. The news is unlikely to be earth shattering and by then you can guess the state of the SP as well as I can and it won’t be pretty.

That there is no bottom to the SP. If we can hold 0.5p by Friday it will be a minor miracle.

Let’s drop Tanzania 100% and not throw good money after bad.

No gloating from me. I was as gullible as everyone else and take the blame for my investment along with LC. I had no dealings with the GoT so although they appear to be suspect to say the least I might have been more aware of their intentions than LC. No driving the knife in except LC who is, IMO, completely useless and clueless. There is, however, zero point in attempting to find a bright side to all this because there isn’t one.

Aerial I am a mere 86% down and sitting on a huge loss. I have no more patience with LC. He has used up all of his chances. If he had any integrity he would have resigned after the MCPP farce.

Is quickly going from almost worthless to worthless and LC has nothing to say other than everything is on schedule. What schedule? The FE note is not worth the paper it’s written on and at the shareholder meeting LC made an effort to distance himself from it even though I pointed out that they are our broker and the note was tweeted by KIBO. In fact he got quite annoyed and was saved by the FE broker offering me his business card and asking me to call him. I have done (2 weeks ago) but, unsurprisingly I am still waiting for a return call. KIBO surrounds itself with some pretty unimpressive outfits.

The introduction to Tanzania ref MCPP reads as ‘Tanzania is politically stable with a government focused on growth, encouragement of foreign investment and supportive of the development of power capacity. There is an established tax and regulatory regime for foreign investors as well as a simplified process for the handling of investment proposals driven by a growing demand for power. Established infrastructure and an abundant source of labour enable large projects to be successfully developed in Tanzania‘. Is this really allowed? I would welcome anyone having a go at justifying that on the website. In my view it is blatantly inaccurate and needs to be removed before it influences other unwitting investors.

Morning Dave. What’s your view on funding?