Member Info for bcl42

I so hope you are correct Dave

The GoT have probably decided to revoke all Recommended Status SMLs, sack whoever recommended them and replace both them and the process sometime during 2019.

I am chilled SYM. Off to Florida in a few weeks. However I cannot allow a post suggesting I need to be grateful to LC pass without comment. The rest is just further exploration of that topic. Frustrated with KIBO? You better believe it.

Yep as I stated earlier LC was one of the main reasons for investing here. However he now is not. My choice, my decision. I think our current CEO is not able to deliver. I want to be proven wrong but history suggests otherwise. The market thinks the same too hence our SP even with the host of wonderful new projects.

Find someone with a history of actually delivering in Africa. I don't know who this might be but there are Africa success stories. Make sure we hit timelines in Moz, Bots and UK (the jury is therefore out as we have not started to miss these - yet). Issue RNSs with more substance. Tell us more about what is happening with SEPCO and other interested parties. Tell us what the Tanzanian government have said regarding the tender process. If there isn't one tell us too. Tell us where we are with Tanzanian SML (due last quarter according to FE and therefore KIBO). We were told for 4 years that we had 3 flagship projects. These have all but disappeared and been replaced with 3 new flagship projects. Whatever anyone else thinks here that normally means credibility is shot to pieces. (the SP says so too). LC needs to repair his credibility. The only way to do this is to DELIVER.

Nope. It doesn't happen. However I will settle for a top 10 finish rather 74th place or the potential DNF.

LC is certainly forward sighted. Everyone involved with KIBO has no alternative as nothing is delivered in the short term. After 5 years here I really would prefer some short term gain. I guess that makes me a trader and an AIM chancer.

Dave - I have thought about your point regarding MCPP providing access to the new projects in Moz and Bots. I agree that they have provided this but still don't think I could call MCPP a success if it fails as a standalone project because of this. Happy to agree to disagree.

Marathon analogy - We have also changed the runners so apart from new course, new length and new runners it works?

Bots, Moz and UK are new projects of 2018. I hope that LC can deliver on these. We will wait and see but that does not make LC a hero at present as he needs to deliver on these first against a backdrop of failing on everything else he has touched to-date. Hence our current SP.

P.s. I have, a few months back, suggested LC is not up to the task but have not mentioned it since although nothing has changed and I cannot personally name his potential replacement. However LC has to-date been a value destroyer. Of that there is absolutely no question.

However I take little comfort from the fact that we are one of many ‘failures’ in Tanzania as it changes nothing.

A balanced post SirG.

Potter. Not spouting negativity but saying it exactly how it is after a ridiculous suggestion that I owe LC a debt of gratitude. I really don’t need your advice regarding selling or moving on. If you can’t take the truth you might wish to take your own advice. At present this share is a dog. I will stick with it for as Long as I wish and say it as I see it as and when I wish. Some of the ramping on here is almost unbelievable and it does nothing other than smack of desperation.

At this moment LC is an out and out failure. Everything he has touched I.e. all 3 of the $750m projects has either completely failed or, as with MCPP is stalled/failing. A large part of why I invested here was LC’s supposed knowledge of and relationship with the GoT. If this does exist then to-date there has been zero evidence to show such. I currently owe LC absolutely no debt of gratitude as I sit here on a substantial potential loss. I will be the first to offer my gratitude when LC has actually delivered some value but to-date he has achieved completely the reverse.

I appreciate the effort made by LC. He is damned if he does and damned if he doesn’t but I am sorry to say that the RNS does absolutely nothing for me. It is a repeat of every previous ‘jam tomorrow’ RNS and provides zero in terms of anything new. Where is the SML? Why (specifically) will SEPCO not buy-in? How are we going to fund both working capital and project advancement in both short and long term? In summary the RNS says it’s all good except the MCPP which has been disappointing but we expect that to come good as Africa needs power. I, and I suspect ‘The Market’ are at the point where we need delivery rather than more promises of delivery at some future date. That’s my honest view which I am sure is different to that of others.

It doesn’t seem unreasonable for KIBO to ask ‘what happens next’ ie. what is the tender process? I suspect the GoT haven’t yet worked it out and will probably have to come up with a process that then requires a sign-off by the cabinet. Unfortunately I am not joking.

I have no idea why some posts appear twice.

Agreed Boffer except I don’t expect LC to say anything unless he absolutely has to, as keeping shareholders happy has never been one of his concerns IMO.

We jest but the sad thing is that is indeed the environment into which our hard earned is currently sitting.