Member Info for bcl42

Patch there appears to be a competition as to who can show the most loyalty to LC regardless of how badly the SP performs. The fact that LC continually sold himself as a ‘Tanzania guru’ is why he doesn’t have a get out jail free card. If the company goes completely to the wall, which is eminently possible, it appears that there will some holding out that LC did a great job and would bear no responsibility whatsoever. The idea that some people might hold a CEO to account seems to be completely alien and regarded as weak, pathetic or pessimistic. Strange but true.

LC was one of the main reasons for my investment in KIBO. As things stand if I were looking at KIBO as a potential investor LC would undoubtedly be the main reason why I would not invest. Currently, as a CEO he is not a winner. If he cannot change that perception (and I reckon my view will be held by a lot if not most reasonable people) he is a major liability. I cannot see how Friday’s podcast did much to convince existing investors that he is on top of things. The message was effectively ‘whoops I have had a leg chopped off but it’s OK I have another one’. I think we need a lot more than that. One would presume we would hear a lot more this week but history tells me that I should not be holding my breath.

If there one thing of which I am very sure it’s that I am not convinced that LC has a clue what the next steps are on the MCPP. I was tempted to say that to-date we have been completely reactive but that would overstate KIBO’s strategy as far as the GoT is concerned. KIBO has for the most part pretty much shrugged it’s shoulders and intimated TIA (This Is Africa) then waited and waited and waited until we got shafted. About as clueless as it gets so why anyone would think LC now has a cunning plan or any plan is definitely beyond me. Maybe he will surprise me, positively for the very first time. One can live in hope.

How you doing 84, all fun and games here eh? I can see why you would say that but it has some serious value to whoever might wish to pick it up and see it through to production and we have spent a lot of cash getting it to this point. To be honest I would play hardball if I were LC and the Chinese/Tanzanians wanted to make a play for it. 3-4 million would literally be a steal.

I have said in prior posts that something isn’t right I.e. stinks with the MCPP. If LC can flog it to the Chinese for £30m or £40m we will be well rid of it and perhaps sitting back at 5p with funding for the other projects. Such a move by LC would improve his credibility no end. If not a sale to the Chinese the only other option for the GoT is to take it from KIBO which must be a step too far even for them. Given the electricity distribution network the MCPP has to go ahead otherwise nothing makes sense.

Dave - thanks for the usual respectful and well thought through post. I have one question for - Is LC a winner?

If our larger investors are still happy with LC that might mean that they still think KIBO is a sound investment which can only be a good thing. Let’s wait and see. Either way I would like KIBO to be a success with or without LC.

I am still hopeful that some of the larger investor are asking him to step aside. He has lost them their money just like
ours. I struggle to see the upside that some have quickly latched onto here. We didn’t need the MCPP? It was just bunce and it was always about Moz, Bots and MED? Is someone having a laugh?

What else was LC going to say? He was always going to say that we didn’t need the MCPP and may well be recording a similar interview in a few months time saying the we didn’t need Bots or MED or Moz. It was just a load of
hot air. I cannot see any investor taking him seriously. He is all talk and no delivery.

To be fair it was just more of the same old blah blah blah all good and making rapid progress. We made rapid progress on the MCPP for 5 years and got nowhere. The Bots ML would be a decent positive sign but that never even gets mentioned and was missing from the FE broker note. Maybe LC could get them to show some faith and sign of the ML using his special Africa and people skills.

When Herindoors thinks he has any credibility.

Coming from? Now certainly with less credibility regardless of how upbeat LC might be. The video was a rehash of the investor evening but without the flagship project. We are always making good progress but we never actually arrive anywhere and the journey is awful. Where’s the Bots ML? And we can’t do a placing now at 0.5p. 100m shares would get us about 500k. Enough for 6 months at best. Show us the money Louis and actually get somewhere for once.

Yaaaaaaawwwwwn

For crying out loud SYM stop jumping on stupid bandwagons. I have never sold a single share and probably sit in the top 1% of holders (unfortunately). That’s the fact and I couldn’t give a monkeys if you or Nelson or anyone else thinks differently. Grow up.

I can’t get too excited at the thought of getting back to 1p.

I know that St. Brides were pushing the BOD really hard yesterday to say more but LC wanted to know more before saying anything else. When it comes we need to understand both the MCPP position and perhaps more importantly where we are without it, particularly regarding funding. If there is no mention of funding we will be none the wiser.

Highly possible Mike. However even if that is the case there are questions to be answered about our relationship with the GoT and if, given the ridiculous events of the past 2 years, it is sensible to pursue any project in such a place. I have never questioned LC’s integrity just his commercial ability.

At least I got a notification of a RNS on Katoro holdings. Deck chairs and Titanic come to mind.

I believe the guy was from Moz and was very credible speaking about signing 5/6 3rd party PPA’s in the short term.

The main posts that need challenging on here are those which continue to spout nonsense about LC not taking any blame and that everything is fine because either we have other great projects (and no funds) or that the MCPP is still potentially a goer because it was rejected due to a spelling mistake. Tanzania has proven that it is not a place to do business we need to move on to the other projects. First task is to obtain cash. If I were asked to invest more in KIBO my first requirement would be that LC is replaced. If anyone disagrees that’s fine but at least put an alternative case.