Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I don't believe it.
http://www.msn.com/en-gb/news/uknews/coronavirus-nhs-contact-tracing-app-may-not-be-ready-until-winter-health-minister-admits/ar-BB15CtSZ?ocid=ientp
The much-anticipated smartphone app to trace contacts of Covid sufferers may not be ready for national rollout until the winter and "isn't a priority for us", a health minister has told MPs.
Lord Bethell, minister responsible for the NHSX app, claimed the delay was caused in part by a fear of "freaking out" the public by using technological means to tell them they might be ill, but also admitted that the system had faced "technical challenges"
Yes it had to be down to the public
The Coronavirus in the UK, well my memory of it is:
- For years earlier we were recommended on what to do for a Pandemic, they said it was coming
- So what did we do, nothing, yes, we never prepared for instance no stock piling of PPE
- When it came some people were tested, some were told to ring 111 if you had symptoms
- We had containment according to Sir PV and fine if we firstly survive the virus and have antibodies
- Later we were in the delaying phase and also told if you have symptoms, just self-isolate
- No, you don’t ring anyone to tell them, they just estimate the numbers from random sampling
- People did not have to be quarantined on arrivals in the UK, but they are introducing this now
- They were desperate for fruit pickers and when they came they were not quarantined
- They announced a finance packages for people and businesses which impressed me
- No testing announced, why, no regents & so no capacity, they never listened to pandemic warning
- Of course, testing will increase from 4/5 thousand to 200K, but includes antibodies and multiples
- How long did it take and cost to build Nightingale Hospital. Oh yes about 10 days
- I thought it cost about £20 million, but the building cost of the 12 hospitals remains a secrecy
- So, pandemic increases rapidly, as it’s exponential, but very slow to decrease, transmission is key
- So, let’s have a football match in Liverpool & then the Cheltenham races, lets ignore transmission
- So how long have they had to plan the re-opening of schools
- Did they or did they not announce it to deflect attention from the Dominic Cummings saga?
- So are all schools returning, no. Award grades based on the pupil’s performance to date
- Why not examine them on the topics covered to-date & continual assessment, such as coursework
- We are reminded of washing hands & social distancing, so when is the 2-metre rule to be ditched?
- Probably just before the pubs and the restaurants open on the 4th July
- Isle of Wight Testing, Tracing, Tracking & Isolation, where is the feedback?
- Now the Health Minister indicates that the app ”isn’t a priority for us” He’s having a laugh, surely?
- So, they never heeded pandemic recommendations nor actions by other countries in Test & Trace
- Hope we don’t have a second wave. Watch China & see ho
Perhaps salary remuneration directly linked to actual performance and achievement is an issue that we should raise at the forthcoming AGM. If I sat on my backside doing nothing I would not expect to receive any pay, would you? I would honestly like to sit in their office and see exactly what they are employed on apart from them all pilling in to benefit from services rendered to KAT.
I may be wrong but I am sure they said that they would be compensated for this with KIbo's percentage share would increase accordingly, but I also think we had correspondence that said a director was paid for his work as he performed it in his own time. Yes he would, wouldn't he. Not keen on anyone benefitting apart from Kibo's % share of KAT, which should then increase for services rendered. But hey ho they do what they like. We should have a say in this.
Another question for them if they ever ever have another Q and A session. Who has benefitted from the work Kibo undertakes for KAT?
Talking about questions, when is the next session? Perhaps they should have a live web session so we can all log in and get immediate answers to question. A chance for us all to air our concerns.
On the subject of question did anyone ask any question which were to be raised at the EGM?
Perhaps so we benefit we pay them £200,0000 and we take KAT fully under our wing. : O )
Been raking the front grass as the scarifier is us. What an absolutely tiring and killing job. Kickoff is at 3pm again.
Meant to add if LC reads this board, which he must according to the clarification RNS and the 0.45p share price for the BOD, then we should all indicate exactly what would be an acceptable outcome re this situation of directors being paid in lieu of salaries.
I would still like to know why we were not told until we had to be.
I would rather have some news first re Bordersley and perhaps a boost to the SP before they offer any amendment re the in lieu salary position, if you get my drift LC.
Morning. bcl That's what we want, we really really want, but will we get it?
Re Bordersley, The target date was 20th March 2020 as I recall, certainly the 30 October 2019 RNS indicated fully operational by the end of Q1.
I know we are never kept up to date exactly where we are with projects, which is a shame as progress could be easily detailed on the Web page, without an RNS.
However assuming that AB Impianti manufacturing program was proceeding to plan on time, I hear him cough, if Italy's lockdown started on the 21st February, then I would expect us to be on track with only a 4/5 week delay from the RNS of the 26th May. If not there is the usual rabbit off somewhere and AB are not on the ball with their plan. But I suppose it is perhaps too logical to think this way.
In the meantime our lot should be cracking on to ensure that the other 20 'shovel-ready' sites with the potential for 300MW in total, are procured, funded (the $100 million they said) and moving ahead towards construction and commissioning as quickly as possible to complement the hopefully to come Bordersley revenue.
Bring on the news LC let's get it all wrapped up and show us you can deliver something as we need a boost to the share SP preferably before you and the board are paid.
TTP that would do or pay them with shares at a higher price than 0.8p, a figure of 1.3p would do for me and forget about the warrants. If they opt for warrants set them at double this price which can be exercised within a year if they are confident about where we are going. Either way perhaps this will encourage the board to buy on the open market!!!
Had a great weekend but it could have been better under normal circumstances. We had a muted celebration for our golden wedding on Saturday following a surprise delivery of an Afternoon Tea Box. It stayed fair and we had a wee 5 party feast including a box of cakes, champers and wine, no wonder I slept fine. Also, yesterday was my birthday so we slept well again last night. : O )
Can’t believe 1000 posts coming up, perhaps I should call it a day posting and leave it to all the newbies. I’m sure people will be fed up of a LTH moans. The money I have to invest will not change my average much, so unless there is something exciting developing, I should just sit back and watch my investment improve or go down the swanny and if it’s the latter, bother the life out of LC until he does produces the goods. There are plenty things to do out there, especially when the virus settles, hopefully soon. We planned to visit NZ and rent a mobile and tour UK as we threatened to do this for years, but I expect many more people will be doing this now with safety mind.
I remember when we were on a 3 day week we never received 640 Euros for not taking a full salary. They, the BOD, are lucky they are in gainful employment in the first instance and lucky they are not in furlough like many other have been through this lockdown period. We still don’t know what they are getting to do apart from rendering services to KAT and I hope this will be reflected in Kibo increasing their % share of KAT!! It’s scandalous they have another easy recourse to a salary increase.
I hope they all remember there is an AGM just round the corner and perhaps we should have a representative for PI’s up for board nomination!!
Come-on LC let’s get the BOD sorted by purchasing at higher realistic levels to indicate, if nothing else, it is less of a steal and forget about the warrants. Also please try and ensure that as we are about to enter the gas power generation business that we accelerate work from here on in by finalising any outstanding planning changes, get the raft laid, rapidly construct and commission Bordersley, so there is at least a few pennies coming in, however small. Still no details on the financial aspects and profit potential etc of this power generation at Bordersley.
It is important also that given we have the potential for 300MW from another 20 ‘shovel ready’ sites, we make a concentrated effort to bring these to fruition, by arranging the funding and expedite all necessary tasks in order these are built and commissioned PDQ, yes PDQ. This compensates to some degree on our past failures and would make a nice change with the potential of revenue to come, but we require details please, not fluff. I hope we never have a second wave of the virus.
The large power projects may well come in time, but surely, we cannot be disposing of one, or two, when LC indicated this was to be an exciting year for all four projects
Yes a loss of that level would be ok. I think it will go lower before it reaches the lofty heights of the 0.45p they were hoping and happy to pay after they issued the clarification statement. With a current sell SP of 0.216 p, I'm only 95.54% down and with consolidation, I only need 48.4p to breakeven. Yes it will change if and when the price rises and even with that 0.45p, I only need a 10.76 bagger, oh lucky me.
But I hope the BoD will have to pay much more for their shares and warrants, if any at all.
So following on from yesterday's post, any suggestions on what their new offer will propose and what would be acceptable to most?
What are they getting to do I asked LC that very question in my rambling email as below.
Nobody can deny we have the potential, but so far what have we achieved, very little of anything, nothing delivered so far and Bordersley target of 20 March looks like it was never going to be met going by lack of progress on site. We are good at disposals and buying cheap shares and in my opinion not so good on updates on progress and details of our projects, in particular MED which I was hoping would get going PDQ.
Q Remember LC a fair days pay for a fair days work and currently we don’t know what work the current BOD are involved in apart from service rendered to KAT and there is certainly nothing of great significance happening on the project front as far as we know. If nothing is advancing what are you all getting to do? As far as I can see the BOD needs thinning out especially when money is tight and a salary reduction would be appropriate. To this end I would imagine there are likely to be further measures raised at the next AGM to trim back and possibly call for a change in the BoD and I gather that there are a few of you up for election then.
Re KAT for services rendered surely any work done by the directors with regards to KAT should be reflected in a percentage increase in Kibo shares, rather than in the directors benefitting themselves, but yet again we receive no details on this, but one assumes that work is still being undertaken. We shall wait and see what transpires with our share of KATRE: Cash, but for now we are already down to about 38% share of KAT or thereabouts.
I meant to add re info on MED. Bcl has visited the Bordersley site or Bordesley which it appears it should be named, as that is the area, and reported of no action there so far, so when do we get details of when the site raft is supposed to be in place to take the assembly and how long for the construction and commissioning work and timescales for actual peak/reserve power generation, assuming that we have a contract, shortly. Is there in fact a window of power opportunity now or is it expected this coming winter or not this year at all?
Regarding MCPP LC must have realised at some point in time that the project was not to proceed and diversified taking on more power projects, which was a reasonable and important change in strategy to take and probably just as well he took this decision and to me and probably to others, an encouraging and most welcome decision at the time as we only had the MCPP project. I don't have a problem with that, but we dumped projects willy nilly.
We had no say on the decisions to be solely an energy company and no decisions when Morogoro went or when Imweru went, even after a review to determine if it was viable and in addition another review to consider a possible venture, where Imweru was to be amalgamated with Lake Victoria’s gold Imwelo project. Hanti, hailed as a $750m project, as I recall, also went for peanuts and the resulting conclusion is, if we had retained all of these, we would now be in a much more advantageous financial position, particularly as pre KAT this would still be under our umbrella and the SP would not be in the doldrums assuming that the current Blyvoor JV gold project was alive and progressing towards funding, albeit they still have to get there. Again, no decisions for shareholders, which is a common facet of Kibo. So was dumping projects the correct approach, I don't know, easy on hindsight. As we have transitioned to a energy Co., surely we are not about to commence the dumping again. Perhaps as bcl indicated LC took too many projects on initially. It makes a change to say he moved fast.
If I was him I would get the finger out and ensure they save money, there are ways, and pull out the stops to get Bordersley over the line, quickly. At least if he achieves this, we can't, me included, say he has not delivered a sausage.
On the positive side we have the recent Benga land increase and a term sheet signing for 200MW, which was most welcome and MED was sounding positive and we had an RNS indicating that AB Impianti are now back working on the construction of the plant, but alas no real details or funding facility yet on the other 20 potential ‘shovel ready’ power generation projects, which have the potential for up to 300MW of gas generation sites.
These have to be our best prospects of earning revenue on the short term, let’s get the funding arranged PDQ and push big time to get them finalised and constructed, however a smattering of details would be nice on the way.
Re MED, some would like to know the details surrounding the bidding for The Capacity Market and when we will actually start to generation both power and revenue rates and info on the potential profit margin that will be forthcoming.
Let's try not raising too much funding at these low levels if we can or till we have to and it may be easier concentrating on the larger projects only when the SP is higher.
Meant to say Good Morning, I suspect LC is watching the board to see what our opinions are on the way forward since the meeting, with a view of ascertaining what may be acceptable to us.
A few thoughts, I can only speculate that they consolidate the shares, eliminate the deferred shares, increase the share option price to the BoD in lieu of wages, (which we never knew about till we had to), and reduce their warrants (to zero even). So on the basis that they are confident re the progress this year, what about increasing the BOD price to 1.3p and warrant options, if any that is, to 2.6p with an exercise period of 1 year.
We all understand the need to raise the necessary future funding as we move forward to develop projects. That is part of what the AIM market is for, therefore they need some leeway in share authorisation, but require less if they start projects and the SP increases, so 2.5billion provides some movement, effectively doubling the share numbers.
We all know despite our request for them to do so, that they were not prepared to have skin in the game by buying on the open market, but happy to have cheap shares and options, so would I. Whilst on the subject why should the loyal long suffering LTH not have a chance to buy those cheap shares and warrants?
Yes, we know that companies will say it costs more to administer, but why not give the PIs an opportunity to purchase more shares when funding is required? This combined with a warrants option would mean a lot to some of us, I’m sure.
LC issued an RNS indicating that 2020 was to be an exciting year and then more recently another RNS indicating they are now about to review the projects and determine after an evaluation, if any projects need to be disposed of. The nerve-jangling so-called excitement promised for this year thus far does not bode well nor appears to be everlasting and what does LC already know that we don’t?
Having taken the decision to be an energy from a mining Co, in which we had no say and then taken positive steps to diversify into other energy projects when Magifooli intervened re MCPP, then surely, we cannot be dumping an energy project already or even two?
LC has delivered nothing. It appears that we are great at funding projects so far to a certain stage and then disposing of them later, when we change our tact and strategy plan and as a consequence waste even more funds. Interesting to sum up what we have lost in this way with our disposals and I suppose these figures will be available for release if requested?
MCPP alone must be over £20million, what about the rest we scrapped?
Any opinions on what they will offer?
Back to the garden, this is akin to 11 weeks hard labour, but glad we have had little rain and had to stay indoors.
Stay safe and well and see you in school. Boris hasn’t a clue
Well at least they received the message loud and clear and this augers well for the AGM and if any of the Board members are up for re-election, well who knows.
dsrt - I was watching that programme last night, 'Spy in the Wild' where they had all the spy cameras ala a tortoise, dog and monkeys etc and the chimps certainly looked pretty intelligent to me.
On the subject of money, given we currently have a pandemic situation, their surely must be a way they could have changed the company rules and held the meeting over the web using Zoom or other platform with the necessary quorum and then saved money, there has to be a way to have done this under the circumstances. What if Ireland had a quarantine imposed, would we then be paying Hotel bills for LC et al for 14 days?
Wimbo - That's a start but I need another 21.12% before I'm square, not far to go eh, early days and what's another 7 years or so!!!
Cake baking do you mean to say you have flour we have been unable to buy flour for the last 10 weeks. What's your address I can almost smell the cookies.
Morning bcl - that was another thing I asked LC about and indicated that it would interesting to see if our 38% ( I called it 42% ) increases with all of the KAT work for services rendered, but we know the BOD will take their cut, as LC will say that it is fair as they worked extra hours and thus should be paid in KAT shares so Kibo miss out, but their resources are used. Still don't know what they, the BOD, are doing all day apart from KAT work.
Re Haneti, what a farce and giveaway and they are still giving it away, was this not described as being a $750m project by LC at one time, how much is it worth now?
bcl - In my ramblings and thoughts email to LC I asked him about Bordersely, I said that the RNS to be fair does not contain much in the way of details with regards to the project itself or indeed what is happening with any planning changes and finalisation thereof, or in depth info relating to the proposed purchase of the additional peaking plant sites. I would have envisaged that funding aspect would have be well discussed, advanced, (that word again) and appropriated by now, but no.
Some would like to know the details surrounding the bidding for The Capacity Market and when we will actually start to generate both power and revenue and info on the potential profit margin that will be forthcoming.
As the last deadline was supposed to be 20th March I would have thought that the project was well under away and that the assembly work should have been easily progressed since then as it is not a massive complex such as a coal fired station, it is on the whole a minnow by comparison.
In indicated that you had visited the Bordersley site or Bordesley, which it appears it should be called as that is the area, and reported of no action there so far, so in addition to planning info, when is the site raft supposed to be in place to take the assembly and how long for the construction and commissioning work and actual peak power development, assuming that we have a contract, shortly. Is there in fact a window of power generation opportunity now or is it expected this coming winter or not this year at all?
Wimbo - On that point of past expenditure I asked him to indicate what this was for the projects we have previously shelved thus far over the years and also I said I was happy if the email questions were answered at the EGM or he can reply.
I don't expect a reply.
Hoe you are all staying well and safe.
Evening, I been in the garden all day and just noticed the RNS, but have not read it yet as I wanted to alleviate myself of my ramblings to LC.. I wrote these thoughts and feelings on Sunday with a view to amending it, but I am too tired from my garden efforts, so I have sent my rough draft to LC just to give him and indication on my thoughts and how I feel about Kibo having first invested back in 2013. I don't suppose I will receive a reply. I will now read the RNS, no doubt it will be all about how green things are in his garden also, as well as to help them win some votes over.
It appears we have a few post to catch up on tonight.
Stay safe and well.
Hope you are all staying safe and well and driving 260 miles when ever it takes your fancy like DC and he'll get away with it.
They even got together yesterday to write the fairy tale and of course this now lets Boris off the hook from answering any DC related questions. Now who do I know that doesn't answer questions?
Oh yeah, almost forgot my question, has anyone sent an email recently to LC and were surprised to actual received an answer?
SGB - Perhaps he will explain the rationale and the alternatives in any podcast prior to the meeting, unlikely though I think. The salaries resolution is totally unjustified and what are they getting to do apart from generating documentation for the EGM. No doubt that will be more shares to pay for services rendered.
They should not be allowed to stuff us again. We were the ones to put our money upfront when the BoD would not, despite our call for them to display a modicum of confidence by buying in the market. Notwithstanding the plain and simple fact that LC's excuse was that BOD buying made no difference to investor confidence. They could have bought a few thousand shares to see the reaction. Why should they be able to buy shares at ridiculously low levels in comparison to us? If there are cheap shares to be had, then why not allow LTHs the opportunity to purchase them? Yes they will advocate the usual excuse that it too costly to offer the shares to PIs in a placing and of course loyalty never comes into it despite what LC has said in his emails in the past.
My 4.845m shares are against the 14 resolutions.
Great to hear from Wimbledon and that he has come out of hibernation or is it lockdown, hope you are well.
Also nice to hear from Canybelle this morning. How are you doing in Spain as you start to ease your lockdown. We have a friend in Cala Honda and the supermarkets have been more stringent allowing only single entry rather than couples or more with a shopping trolley. Yup Candy your minus 50% is a tad better than my minus 95.5%.
JD - Re AGM how many days in advance of the meeting would a motion have to be tabled in any proposal to remove a board member/director, as I imagine the member would also have to be informed of the proposed resolution?
Stay safe and well