Member Info for HawaiifiveO

Can anyone explain why LC has failed to meet shareholders in London since April 2017 ?

I genuinely feel for people here who are heavily invested, believe me I know what it is like holding this share when it is descent.

I feel a meeting should be held so shareholders can have their say, shareholder activism on AIM is gathering pace. Yellow Jersey, for example, hold regular events aimed specifically for shareholders, I personally attended one concerning AAU, it lasted over 2 hours & later networking, nothing was held back, all questions answered, heated debate.

Irrespective of recent events concerning the MCPP surely it is about time LC was put to task over a 7 year failure to deliver one ounce of shareholder value - re-iterate - Kibo was listed in 2011 at a price of 37p.

The only people who have made money are brokers, PR flunkies, legal teams, funding providers and directors, not forgetting former 'investors' of Mzuri Group when Kibo Mining acquired the Rukwa Coal for £19m - payable in shares that were subsequently wholesale ditched leading to a fall from 35p to 2p.

Some feel it is better to move onto the next coal-power project, how much dilution will that bring? Kibo is like a very very long book that seems to have no ending.

If I was a significant holder I would be canvassing for a meeting ASAP.

I believe we are reaching the end game here which will lead to either a bid or asset sale.

I think it has been set up something like this, comments from Carver & Hutchinson suggests the SR is reaching its final stages. These comments are probably based on the knowledge that Permits will be granted as implied by the end of September. My bet is more assurances have both been sought and made.

The buyer (or bidder) is most likely waiting for Permit award, once granted I think news re the SR will hit soon after, it matters not IMO, if one or two Permits come, the buyer/bidder may be waiting to see deliverance from the Agency.

My view, terms have been agreed in principle when a permit lands so will the SR RNS soon after.

An offer IRO 2.5p is the barest minimum the BOD will accept IMO

DYOR

Surely shareholders have a right to ask for some event in London where their concerns are addressed. When the UK Investor Show was cancelled they stated a shareholder event would occur later, it never happened.

Kibo Mining was listed around 7 years ago at a share price of 37p, it is now under 4p. These are facts that many do not want to address let alone bring up with Louis Coetzee who continues to believe he has delivered shareholder value.

With social media and easier communication it is simple for shareholders to act collectively to bring about change, it is not satisfactory to build new empires upon a legacy of failure to deliver historically.

Were shareholders consulted concerning the move to become a energy company, the answer was no. Most junior energy companies that are listed have struggled and are low ratings (see OPG) in any-case.

Shareholders should demand answers concerning the woeful share price performance since listing. It only takes 5% to call a requisition, maybe the time has come for some action, the threat of same may be equally beneficial.

Million of shareholder cash has been spent on trying to expedite this project and now this, it looks like it is back to square one.

No way will financial close complete this year, the fact that LC has used the word 'urgently' in communication with partners is clear not good news, he could not have been aware of this event.

No wonder the Co is diversifying into other countries, the MPCC must have cost over £10m in shareholder funds to date, who knows whether that cash will ever see a return.

LC should do the decent thing and hold a shareholder event in London to openly address investor concerns, I doubt it will happen.

I was unaware a number of notable names have left this bulletin board. No idea why.

The frustration here must be overwhelming given the expected upside based on numbers of previous years, I can understand the frustration having been a follower since the company was listed.

I am afraid the truth is, other than for a few short term spikes, an investment in Kibo Mining/Energy has resulted in serious losses for early shareholders and modest losses for most since, all this during a 10 year bull market.

Louis Coetzee in the early years was always ready to meet and greet prospective investors and shareholders in London, these days not so. Failure to attend the UK Investor Show this year sent a signal to me, it showed the company has changed it's stripes, they have not presented in the UK since April 2017. That is poor form.

No doubt some lines of communication are available to certain folk but surely ALL investors deserve the opportunity to ask serious questions about failure to deliver shareholder value. Kibo has raised around £30m since listing !

In truth Tanzania has become a nightmare for investors due to aggressive policies, convinced this is why LC & Co have moved into new countries.

Hopefully something will happen to deliver some upside but quite what is anyone's guess.

I have to say so much has happened in respect of new projects and so on I have actually forgotten what peoples target prices are if Financial Close at MCPP ever comes to pass.

I seem to remember, years ago, that a target of 30p came out from Beaufort, this was ridiculed by the usual suspects at the time for various reasons. There were around 300m shares in issue, since then the share count has more than doubled with, no doubt, more to come.

It is interesting that shareholders had no say in the diversification into a pure energy company, whilst on the face of it this may sound appealing, the BOD has historically failed to deliver one ounce of shareholder value since listing back in 2011 from any of the core projects. The story has always been a good one though.

The only thing that matters is the share price, whilst LC continues to believe he has delivered value, question is to who? Certainly not shareholders.

Anyone noticed the continued 'selling' of tiny parcels of shares at market open each day combined with equally small 'sells' towards the close. The aim being put off buyers and weaken the stock price.

You could not make up the manipulation going on here, it is plain for all to see.

Shame on the market makers and brokers involved with crooked AIM.

https://www.telegraph.co.uk/business/2018/08/26/european-gas-prices-hit-three-year-highs-set-keep-rising-companies/

This is becoming a joke, the BOD are quite useless and are milking the remaining cash.

I have emailed the Nomad 3 times over the fiasco but no reply, around 6 months ago I rang them and suggested they need to ensure fair play and implied that the BOD were burning cash and seemed to be prolonging the process, the Nomad was non committal but tried to reassure.

You are not telling me that no-one was interested in a cash shell with around £5m in the bank, a listing on AIM and the IEX at the time of suspension. No way.

Someone posted on A@VFN that they knew of a Co that approached ZMNO early into the process concerning a RTO but the entity was rebuffed and not wanted according to the poster.

I was expected a cash distribution of 4.4p a share but how much is left now is anyone's guess.

Very unhappy, would go to the AGM if it was more local.

Hard to call this one, I have a small position around 4p a share, will the banks pull the rug now when the company is so close to turning around? My guess is no.

The issue is the Biox plant, it all depends on if the BOD can demonstrate to the banks that they are on a improving trend.

Can they re-structure the debt, if so on what terms? I doubt the major shareholders will want to be wiped out via dilution, debt for equity seems unlikely. A convertible note is a possibility, convertible higher up - 10p?

There has been talk around debt restructure for a very long time now, nothing has come of it so far, implies the banks are watching production and performance issues.

In my opinion, all things considered, I believe the banks will agree to a restructure simply because they are in too heavily and probably could not recover their loans by asset stripping.

It is a case of if you owe a bank £1000, cannot pay back you have a problem, if you owe a bank £20m they have a problem!

I can remember when an RNS confirming a Collaboration Agreement with GE would have sent the share price to the moon. The history of delays and broken promises has taken their toll over the years.

Financial close was going to be end 2014, sometime in 2015, sometime in 2016, sometime in 2017, sometime in 2018, any bets by the UKIS next March it will still not be completed.

LC is now empire building, goodness knows how many more shares will be issued over the next few years, the story is a good one, it always was, but as far as poor (in every sense of the word) Kibo shareholders are concerned, well that is another story.

Listed in 2010 at 37p - 50m shares in issue - to the current 9.5 billion. (634m post 1-15 consolidation)

These are the facts, it has been disappointing, very disappointing.

Louis has not met any shareholders via presentations or investor events since April 2017, that says it all.

Frustrating.

I am pretty optimistic we will soon get updated on both the alluvials and, more importantly, Fairbride.

I am convinced the share price has been manipulated down to current levels during a period of low summer volume and cash drought due to the Beaufort situation.

What you can bet your bottom dollar on is the market makers will not want to be short when circa £550m of Beaufort client cash/stock returns to investors.

Colin Bird knows he has to deliver, he is one month late on his self imposed target of appointing new alluvial contractors, I can only assume something more significant is going on in the background.

Anyone who has any doubt of the quality of the Fairbride gold project only need to read the operational results coming from Auroch in 2013 & 2014. This asset is worth multiples of the current £3m m/cap of XTR

I have been buying shares here as well as other 'popular' Beaufort stocks that have been bashed down anticipating market maker mark ups ahead of the Beaufort distribution to the Share Centre.

I don't agree, I believe the news shareholders are all waiting for is reasonably imminent, the continued references by Hutchinson that the SR has been going on since April and the intervention by Carver (for the 1st time) alludes me to think this way.

Near future does not mean 2-3 months.

I would suggest if anyone is stupid enough to be short best get them closed ASAP.

I cannot help but think news will come very shortly concerning the SR and possible takeover.

The clue was in the last podcast, Carver would have not implied that an outcome would be sooner than later had they not been in serious discussions.

There has been suggestions that shorts were taking positions again, I very much doubt they would risk it, this stock could double and more in a flash, it could also be suspended pending an announcement.

A good time to buy/add IMO.

Lots of rumours circulating there is a naked short position here, before anyone pounces saying AIM stocks cannot be shorted, yes they can.

Probably explains the toxic Stratex bulletin boards and the abject failure of the bashers to accept the company is basically new, new BOD, new project, new ideas, as for the BOD being friends of XYZ, that is laughable. It shows how desperate the bears seem to be getting.

The question is how large is the short position (assuming there is one) and how will they close out?

Sentiment is turning here, this is effectively a new company, the entire board has been replaced, the majority of directors of an age where they will want to deliver value. The long in the tooth 'bus pass' brigade have left the building.

The 'noise' from the few remnants of the bashing brigade (longstanding bulls from many a year ago) will soon die down being replaced with new posters/investors in the company.

Exciting times ahead, some very credible investors bought in on the last placing, majority of the shares in sticky hands, think of an investment now as seed capital - before the major re-rate comes.

Remember at 1p the company would only be valued at £7m

The man to listen to is Clive Carver.

Anyone who has attended Ascent Resources presentation events will know that Carver is the main man, now what did no BS Carver suggest during the very recent CC, he would be surprised if an offer could not be put to shareholders shortly.

It was also suggested that certain parties were not concerned over the permit situation, this would suggest AST are talking to large companies which can take a long term view.

My view, a deal is done.

I am looking for a exit price in a range of 2.5p to 4p

Gwynwin

As I have pointed out many times the drop at XTR is replicated across the junior sector, many are down 50%+, they key at XTR is the drop has been on exceptionally low volume.

News will come but for best impact it would be better delivered once the summer holidays are over, more-so as in September the Beaufort situation will deliver a massive liquidity shot into the AIM market.

It is worth noting that Clive Carver believes an offer will be announced to market sooner than later.

Short positions take note!

Not forgetting the continued hints that AST will no longer need to to work on the 2 wells, implying the deal is done, looks like Ascent is going to be acquired, further hints include no longer working on prospective new projects etc.

It s only matter of time, the man to listen too is Carver, he is a no nonsense hard nosed City pro, his message is plain and clear.

"I would be very surprised if we're not in a position to put something in front of shareholders that the board would recommend as a way forward as a result of the strategic review' Clive Carver, Chairman