Member Info for drax

No mention of the board meeting this week?

Where do you anticipate the cash coming from to

perform your expectations.

Sepco have no doubt concluded, like the rest of us

that the government have no intention of expanding the energy supplies.

This is good news for candle makers, train pulling donkeys and carrot farmers.

I agree with you sonic but

it is now in the public arena. It is plain to see that Sepco have walked.

They will not do a Dick Whittington unless there is substance on the table. That looks ever less likely.

I completely ignore this fairly unsavoury character and simply do

not repsonding to his silly nonsense

Unfortunately he is too thick skinned to go away. Unfortunately, one cannot expect

a fool to recognise that he is a fool.

I am so pleased that you are not cynical about those who run Kibo or

indeed the crackpot regime that run the country...

in the dark!!

sonic, there is no long term without serious cash injection or generating cash from resources.

Neither is looking at all possible.

If you really believe that Sepco may be persuaded to return to the table by a tough talking LC, dream on. They have gone and will only return when they can see value in an investment. As for GE, Everyone is aware of their serious financial problems and plans to cut back the African arm of the business.

They will not, in any circumstance, be partnering our project. If they have any involvement it will be a commercial involvement for which Kibo will have to pay.

Kibo cash is continually running down, the business is going nowhere at the moment, and without a serious cash injection is bound to face very unpleasant problems. The absence of Sepco in this project may well have repercussions, tender application looks considerably more fragile without them. All round things look difficult.

Meanwhile, the directors continue to enjoy salaries which many view as way beyond the value of their contributions to the business.

bcxl, correct.

We will see....but I doubt that you would get a rights issues away unless it was set at a very attractive figure.

correction

I do not believe that a full price placement could be pulled off.

Boffer, I was referring to a rights issue, not a placement. I think that in order to attract widespread acceptance the offer would have to be attractive to shareholders. I do believe that a full price placement could be pulled off.

Hence the 0.005p projection.

Despite a fair bit of abuse along the way, I have always held the firm view that the Sepco investment this weekend was an absolute non-starter. It may be that in the future, when there is something to invest in with regards to Kibo, things will change. Personally I do not believe that Sepco will return to the table without the government issuing the required licences to Kibo.

In the meantime this leaves the serious problem of insufficient funds being available to the company. I believe this will have to be resolved and it is not very likely going to happen through an Irish style placement, I anticipate this cash shortfall will be met via a rights issue at around about 0.005p, soon!!

Some will disagree I am sure but bear in mind I am usually fairly accurate with my forecast.

Judging by the lack of post this morning

I assume my health warning has been ignored

Holding your breath for a long period of time

is damaging to your health.

Gosh!

Second mistake I have made this year. The first being an

increase in my holding here.

I expect this transaction is a complex process but we have had plenty of time to negotiate it to a standstill. Therefore, if this cash injection is going to materialise the buy-in price will have been settled to both parties satisfaction.

The timeline given was conclusion by the 31.11.18 and I suppose the optimistic among us are now thinking the cheque is in the post. Either way an announcement Monday or before is essential.

With some considerable trepidation I await the RNS.

I agree with you, this is not a chicken and egg situation.

Progress on either project is dependant on certainty about the other.

Can I come to he party, promise I will be polite as always.

It is hardly the most dynamic of shares

so I would guess the answer to your question at the end of next week

the problems will be the same.

I am surprised that nobody has picked up on the way the last RNS was written

LC is renowned for a lack of total clarity in communications but I found his manner of expression quite unusual in this

"partners include General Electric and SEPCO!!!"

Was the use of capital letters and three exclamation marks intended to convey something significant?