Member Info for HawaiifiveO

Colin is a chess player.

The RNS seems designed to bring matters to a head, draw media attention, suggest the country is 'high risk' as an investment proposition and to force the hand of ministers and officials concerned in the process.

Any statement from the the ministry suggesting the process is still ongoing and no truth to the suggestions and the SP will be back in the 1p region in a flash.

A good move IMO.

Well what a major let down share price wise, I still say any BOD who can happily watch possibly 9% of the company dumped onto the market without trying to intervene is negligent.

The share price at the start of the year was 5p, now sellers hitting it at 3.4p, the naysayers who are critical of my thoughts should consider this, (a) the share price at the time of (equity) funding will be important and (b) it will be relevant to any possible takeover approach.

There surely has to be an equity % associated with funding this project however small it matters.

No sorry folks my view is HZM BOD should have dealt with the Lombard (LO) situation as a matter of urgency, I have been here over 1 year now and seen nothing but a falling investment.

The brokers targets (15p-21p) are looking farcical, maybe we would be near them without LO, who knows.

I am at a total loss as to (a) Lombard are selling down so heavily and (b) why in such circumstances the Co broker has not intervened and moved the Lombard stock into sticky hands.

It is clear that the BOD must have been aware there was a seller of size, according to certain posters who apparently challenged the Co over the seller a reply was given that Fund Managers do what they have to do.

In a nutshell the BOD has sat back and allowed a major holder to dump circa 70m shares into the market seemingly making no effort to intervene. Worst still they know there is significantly more to go.

I consider the above almost negligent, more-so as there maybe a equity element to potential forward financing. I know of AIM juniors whose BOD have intervened to shift stock of a distressed seller so why has the BOD of HZM sat idly by?

As a holder of stock I am exceptionally disappointed (to say the least) having awaited an age for the FS to find when it comes the 'value' of it will be extinguished by a rogue major holder dumping stock into the company changing news.

No sir I am not amused.

Taken from another place today...........


When Xtract Resources stated up as a company 28th May 2013 , POG was around the US$1,050 / oz mark whilst today it stands approx US$1,230 /oz . Back then Xtract Resources produced nothing , had nothing but a 15% stake in the Chepica prospect with an Earn-in-Agreement to acquire the remaining 85% at great costs to share holders . We had to take a draw down facility of US$5 million to have even this small asset . Today we’re debt free with a sub contractor , Sino able to work in the Wettest of Wet season in Mozambique and happily decrease it’s costs quarter on quarter . In our 100% wholly owned Manica prospect creating an income with no risk to the company Xtract Resources what so ever .

With November just days away the Omnia , 40kt per month processing plant will be commissioned followed by today’s announcement hard rock processing to commence 1st Quarter 2019 . I’d say we’re in a fantastic position going forward . The alluvial contracts include Nexus where as the hard rock doesn’t hence revenue streams will be substantially higher . Take a look at the Market cap the Market Makers have reduced the company value to , £2.5 million through shorting probably shares acquired from the 14th November 2017 equity placing through Beaufort Securities . Aye they did it many times to Xtract Resources before , whenever we had a draw down hence we’re probably seeing the last dregs of that equity placing being absorbed through a short .

As for the gold we haven’t sold why would Mr.Colin Bird want to enthuse investors to buy more shares by clearly showing the true value of Xtract Resources when he may also believe a short is open on his company . I certainly feel there’s one and will be adding on any weakness from here taking my holding into the millions of shares that won’t be given away cheaply at the first spike either . … wow …

I love this share and all the work the Market Makers do posting negatives on another chat site 24 x 7 … using multiple usernames . Look out for the positive user names they use when the short is closed .

There appears to be a hint of more news to come in today's update 'will update the market shortly'

It is possible to make money from his companies, I have done so twice in JLP and GLR but timing is key and you need decent market conditions.

I think the current share price is due to a combination of poor market conditions, sentiment, failure to deliver a number of key 'claims' by Bird plus exceptionally poor PR.

Bird has always been difficult to contact and his companies rarely respond to investor communications.

I am still in favour of putting pressure on Mr Bird by way of an Open Letter but it needs the support of a few of the larger shareholders, alas there are no institutions involved at XTR that can be canvassed as was the case at another AIM company where a requisition was called that eventually brought changes.

The email address provided by Gixxer-600 to back action was XTRshareholder1@gmail.com

Gentlemen

I have, over the last 9 months, met Bird more times than most, 3 separate occasions, at UK Investor in April, at Proactive in May and at the AGM.

What concerns me with the fellow is he talks the talk but fails to deliver, the reports coming back from attendees at UK Investor in April were accurate based on his comments made during a 1 hour chat session with 3 shareholders, he did say there would be an RNS the market 'would like' imminently, it never happened.

At the AGM he made numerous comments, talked about imminent action at Manica, talked about new contractors for the alluvials, expected them to be in place by August, it never happened.

The 'loan' to Moz Gold of $400k was unforgivable, clearly there was little due diligence, he said at the AGM that their plant would be utilized, he said their plant would fetch $800k on the 2nd hand market, so far nothing has happened.

It is for these reasons that I believe he is losing the plot generally, his blitz into a rash of new Non Exec appointments with AIM companies makes no sense, his time should be dedicated to XTR and GLR, JLP is basically run by Leon C.

I am mindful to wait for the next update but will actively support change if is more jam tomorrow, I believe succession planning should be a No 1 proirity for Colin Bird, he cannot go on forever can he. It is very clear from the AGM he is the main man, our whole investment rests on him, that is not a satisfactory state of affairs.

I have been involved with another company where a requisition was called, eventually the whole BOD (described by the outgoing CEO as the 'bus pass' BOD) were replaced, since then the company has appointed a very credible new BOD and is now attracting investor interest like never before.

I believe we need change, I fully support an Open Letter, Bird should propose a shareholder meeting in London ASAP to discuss the way ahead as a bare minimum.

The lack of communication is totally unacceptable in today's social media environment.

Having been around this company since 2011 I have a fair idea when things are not as they seem, in fact it is pretty easy actually. The clue is the CEO, when he goes quiet, very quiet, you know there are choppy waters ahead, in this case I feel a Tsunami coming.

The CEO has failed to present or meet investors in London since April 2017, that's right 18 months since a presentation or any event where shareholders can put their issues and concerns to the company directly. Even then LC is a very very hard fellow to ascertain, I recall the 'poker player' reference by a media presenter a few years ago.

The unexplained withdrawal from the very popular UK Investor Show in April was a red flag for me, the promise of a event soon after never happened. It seems Kibo will not be appearing at the show in 2019 either.

Believe me I know what it is like seeing these shares drop like a stone, back in 2013/2014 they fell from 30p down to 1.5p at one point, fortunately a few 'believers' bought the lows and recovered their cash when the 13p 'short close' spike occurred. Thank heavens !

As others have pointed out, the 'blue sky' here was always the MCPP especially when Kibo only had around 250m shares in issue, once this potential blue sky moment was diluted to acquire other projects and more funding the writing was on the wall and the market could see it.

As the bears have pointed out there has been failure to deliver concise numbers that have allowed the market to determine value IF the permits and eventual Financial Close ever occurred. Right now with nearly 700m shares in issue the situation is even more clouded.

Looking at Intra Energy they have increasing coal production and a albeit slightly less advanced coal/power project but their market cap sits at under £3m, that makes Kibo Energy expensive, more-so when there are now 4 projects to finance.

IF I was a larger shareholder I would be very very unhappy with events. I re-iterate the shares were listed at circa 35p with 50m in issue back in 2011, they are now 2.5p with circa 650m issued. That is not creating shareholder value.

I really do think it is time for LC to front up and come out of hiding, call a shareholder meeting in London, to continue to stay in hiding sends all the wrong messages.

During September 2018, Tancoal and Power China (SinoHydro) received a Request for Qualification (RFQ) for
Coal Fired Power Generation Projects under Tender No. PA/001/2018-19/HQ/N/033 (dated 20 September
2018). Tancoal, together with its power project partner, SinoHydro, will submit all tender documentation to
Tanesco by 19 October 2018. The power project comprises 2x 135 Mw generating units established as the mine
mouth Ngaka Power Station to utilise coals from the northern Tancoal concession area at Mbuyura. Current
mining operations for industrial coal are in the southern part of the concession area.

https://newswire.iguana2.com/af5f4d73c1a54a33/iec.asx/2A1109866/IEC_IEC_September_Update

I wonder how large the naked short position is here built over months, you only have to follow a few clued up folk to know what goes on.

Look at the continued small trades hitting the bid, look at the continued 8am 'sell' that tries to distort sentiment for the day.

Notice how hard it is to buy in size on-line, NT only for tiny monetary amounts.

Now a shrewd CEO would know how to shaft these entities but does Bird?

Oh and for the record, before some city spiv tries to insinuate otherwise, I do know the game!

I am expecting an update on Q3 alluvial gold production imminently.

Spivs still in 'control' here, note the early morning 'sell' at the bell and ongoing tiny 'sells' hitting the bid throughout the day. I would love Bird to do a deal with a major player who offers some cash upfront, the likely naked short position would struggle to close then !

It happens.

I never thought I would see Kibo trading in the 2p's ever again but I fear things could get worse.

Kibo historically has lost a number of folk a great deal of money, it continues to do so. As I have pointed out many times the share price on listing was circa 35p, it is now under 3p.

Kibo has a gentlemanly and proficient CEO in Louis Coetzee but he refuses to accept criticism concerning the atrocious share price performance, actually suggesting he has created significant shareholder value would you believe.

My concern now is Kibo has become a hard to understand investment proposition. Sure thing, as demonstrated this week, is continued issuing of shares - significant dilution ahead due to all the other projects. Frankly it is all a bit of a mess in my view.

The MCPP was always the blue sky event for shareholders but it is has gone massively wrong for various reasons, back in 2014 it was suggested 1st power would be generated in 2019, circa 200m shares in 2104 now well over 600m.

I am staggered shareholders have not grouped together and thrashed out all the above with the CEO, shareholders were never even consulted concerning the move to become a pure energy company. The sector is fraught with danger for small players. I think the CEO has become evasive for a reason.

One way of dealing with discontentment is an Open Letter which is also sent to the company.

Yes it takes 5% of the issued capital to call an EGM

Another avenue would be for XTR to be parachuted into another AIM company with African projects and a BOD with appropriate experience, swapping their shares for ours at an agreed level.

A request for Bird to address shareholders at a meeting in London, shareholders could propose succession planning (for Bird) needed - I would be happy to attend and know of venues.

Like others, am waiting for news, I attended the AGM and was very critical, Bird made proposals, not materialized so far. Neither have the 'promises' made on the Vox podcast soon after.

The market has trashed most AIM juniors, XTR is no different, but the current £3m m/cap is farcical and is clearly due to Bird's lack of promotion and failure to deliver.

I would support any move to challenge the company.

Make no mistake this is being shorted by city spivs, just look at the trades over recent days, many sub £200 'sells' attacking the bid.

The other day it was not possible to buy 250k of shares, under £2500 worth, without going to 'at best' that tells you all you need to know.

Bird has allowed this to happen by complete radio silence since the AGM, during that meeting he made certain statements that have not materialized, however it may suggest that something more significant may be about to happen.

We are within days of the alluvial production numbers for Q3, as well as those numbers I expect to hear about the way ahead concerning new contractors.

The market has been woeful for junior mining stocks this year, most have been taken down by 50%+ Xtract is not alone, there are many sector juniors sub £3m m/cap now.

My advice, stay strong, do not let the spivs steal your money, when these stocks turn they move fast.

It is WAY past time to conclude the Strategic Review, having been in favour of it initially I now believe it has reached farce proportions. It has been 6 months since it commenced.

The BOD have over recent months hinted we are drawing towards the end of the process, anyone remember the 14th August comments from Clive Carver implying we would hear shortly, nearly 2 months later - nothing!

The BOD has stated there are entities out there who are not concerned about permits, taking the longer term view they implied. So why no news?

To say shareholders are frustrated is an understatement, a lesson learned, do not invest in a O&G company without significant sector experience on the BOD.

All the above said I still expect a rosy outcome, cannot see any offer below 2p, Hutchinson has continually pointed to the monies spent historically, even 3p a share cannot be ruled out.

Tick Tock !

I find it exceptionally hard to understand why Louis Coetzee has not allowed shareholders the opportunity to meet him in London since April 2017. To me this is a red flag and it seems he is avoiding his retail shareholders who have more than supported the company over the years.

The only time I have had the chance to meet anyone Kibo related was at UK Investor when I spoke with Christian S, at the time he preferred to talk about the new projects as opposed to Tanzania.

I would imagine this company has already spent circa £12m-£15m pursuing the MCPP, the company has raised £20-£22m via equity issues since listing in 2011, hardly anything was spent on the ground in Tanzania on the other mining projects that have now been discarded.

There is now talk from some quarters that the MPCC may have to be ditched, does the Tanzania Government really want it? Remember in historic presentations the project should have delivered 1st electricity next year.

Having followed various power projects in Africa there seems to be a theme building that various Government are hesitant to deliver electricity to the populace, is it a case they fear something if they do?

To answer a earlier request I do have a very small position here still, I bought Kibo as a mining company initailly, events have changed, I do not rate the energy sector, see OPG as an example.

DYOR etc

Drill results from Clontibret, Clay Lake and Glenish are expected this quarter, news leaking I wonder?

I have come to learn that no matter how much bashing that goes on bulletin boards best option is to ignore it. Around this time last year the share price was heading through 3p strongly, nothing much has changed, investors are here for Fairbride.

It is pointless arguing the toss when city spivs are in control of events like they are at the moment in the sector as a whole, Xtract, valued at £3m, is a steal at current levels, Fairbride is a ready to go mine with a NPV of $42m, we all await news.

The drop from 2.6p in April has been on low volumes, worth remembering that !

It might be worth mentioning that the Beaufort assets are being returned imminently, many clients were XTR shareholders, some held reasonable stakes.

Many Beaufort clients bought in around 2.5p+ and will be sitting on heavy losses, I expect many may decide to average given the ultra low market value here.

This share has been manipulated down by market insiders and accordingly will rise back when they decide, this is heavily oversold currently, opportunity exists to profit from the bounce, which could be a strong one.

Remember the drop from 2.6p has been on modest volume in the ultra quiet summer months, £500m+ of liquidity will return to the market shortly.

DYOR

Will Peter Gyllenhammar dump his entire holding here like he did recently at Stratex (now Oriole) he has 66m shares, at Oriole retail took the stock in 2 weeks but cannot see that happening here.

He will not be impressed with this update.