Member Info for JDwag

O&W, it’s an interesting post / take on things. Of course it is (as you rightly say) a different company, so things will never be exactly the same, however, after the last few weeks I am left in no doubt in my own mind that SEPCO3 have been allowed ‘in’ to Kibo in order to facilitate a smoother running with the GoT.

JD

Someone give him a call and nudge him would you?

JD

Agreed! It would be nice to get a ‘all forms have been submitted to the Mining Commission for review’ RNS.

JD

Sterling work, Yaki.

To be fair, on the ‘Integrity Pledge’ it appears to be a simple declaration.

The ‘Local Content’ Regulations appears to be far more robust in nature. Not to be taken lightly, this isn’t just a ‘third world’ request, this looks awfully similar to local procurement construction frameworks in this country where as part of ‘preferred bids’ you undertake to a lot of Key Performance Indicators (KPIs) such as local employment, etc (and you are held to it). Given they advanced nature of MCPP and the IBFS being completed, this information really should be readily available to merely take from the IBFS into the agreed format (that word again), should really just be an administrative process for Kibo.

JD

http://www.proactiveinvestors.com.au/companies/news/200895/walkabout-resources-continues-to-progress-lindi-graphite-project-in-tanzania-200895.html As Yaki summed up. This also shines a light on our IBFS ‘formatting issues’ and probably not our fault either as I seriously doubt all involved would have completed a report in the wrong format, just like the mining licences this was probably to do with someone at Tanesco deciding what the format was at the last minute, the country and their beurocracacy is a bit of a $hetshow but we will persevere. JD

‘Control’ is a strong word when you are dealing with a sovereign democratically elected government, possible ‘influence’ is better. And I would say that SEPCO (the Chinese Ambassador) would have more influence than Kibo has. JD

That’s a $30 billion price tag of a project, if they struggle with MCPP, then I’ll be interested to see how long that takes. Think Exxon has already intimidated that they wish to sell out of that project too. JD

There is no way this (MCPP) is ‘dead’, if it was I doubt SEPCO3 would be signing up to more and more exposure. What is probably true however is that SEPCO3 are almost certainly using their ‘muscle’ to in fact leverage a bigger stake in MCPP/Kibo, but the real prize for them is gaining a substantial foothold in the country (Tanzania), LC is probably now at the stage where he is greatful of having SEPCO3 (the Chinese State) help push this over the line. JD

You certainly have to think his strategy is to bring in the Chinese closer to the ‘action’ in order to make it a damn lot more difficult for the TG to keep procrastinating on this deal. The more you research JPM the more and more he just looks like the current raft of ‘populist’ politicians, great sound bites but in reality does very little for his voters. Worth remembering I guess (and keep reminding myself) that SEPCO3 is a subsidiary and who’s ultimate parent company is the State Grid Corporation of China. The second largest company on earth by Revenue (only behind Walmart), no mean feat having that as a equity partner. JD

But has LC brought in the Chinese (by making them an equity partner) to get the TG to focus their minds? JD

They’re Steam-H Generation Technology (Ultra Super Critical) is heading towards 50% efficiency. It will make a massive difference to costs. JD

Good spot! Looks like a complete rewrite of the web portal and information and transfer to www.Kiboenergy.com.

JD

It states the Presentation is currently ‘being updated’. Stay tuned I guess.

JD

I still have the AGM in my head (it may very well be arbitrary on my point) as a date that we should have either of the PPA or SML or Both. But I have been wrong before.

JD

But looking at the long term picture I very much doubt SEPCO are hanging about and taking an equity stake in a dud, they obviously see a very big long term strategic picture here. The wait will be worth it, but equally we will have earned it. JD

http://www.thecitizen.co.tz/News/1840340-4657736-1m4vjgz/index.html Another power plant that has been stuck on the launchpad for years going nowhere fast, maybe, now looking like it’s moving with funding. TG own 20% of the SPV from memory and 7% of the bank partially funding it, I would hazard a quest that the remaining 80% equity holding will ha e to stump up with equity and also get debt / funding. It’s part of their 5,000 / 10,000 Mw plans out to 2025 so doesn’t effect us or MCPP. Hopefully not long till PPA (although who really knows). JD

Sorry..... https://allafrica.com/stories/201807100258.html JD

All round. Mentions Tanzania specifically in that coal needs to be utilised for 70% of the population to get grid access. What what took my eye was ‘Tanzania are building new coal-fired generators’. Looks to be mentioning MCPP but not by name. JD

Also, now in summer so volumes and interest naturally fade. The business is looking in great shape, but we need the PPA more than anything to show the veracity of the business model, and with it an appreciating SP.

JD

‘Cash is king’ to quote someone, that’s true with a FTSE100 company and it’s true with Kibo, I applaud today’s news, conserve your cash position while having a long term partner taking a 7 figure sum in shares (not in cash). Also, to get this company into a completely debt free situation will serve us well in the next few months. The dilution isn’t over, SEPCO will now come on board and that too is dilution for a purpose (growth). JD