Member Info for JDwag

Just working through the Kibo announcement of 30 March 2020 regarding ‘Bordersley’ (I’ll use Kibo’s spelling for now). Interestingly, when added up, Kibo where to issue 46,067,206 for full consideration of the 100% interest (I lay it out below) which they have already done despite the deal not being honoured!

As of the RNS of 30 March 2020 this has now been paid in full (even though they have utterly disregarded the RNS and detail contained within of 26 June 2020, it’s also been paid out in the wrong order).

22,067,206 paid RNS of 26 June 2019; 6,000,000 paid RNS 9 September 2019; 10,000,000 paid RNS 10 December 2019 and 8,000,000 paid RNS 30 March 2020 (for a total of 46,067,206).

As per the blow extract from the RNS of 26 June 2019 they have issued the shares all shares despite bullet points 4 and 5 not being honoured (we know this because they told us in the RNS of 17 March 2020).

• An immediate payment of 22,067,206 ordinary shares in the capital of Kibo at an issue price of GBP0.0525 per share ('First Tranche Shares');

• Upon receiving confirmation from MED that a preliminary notice to proceed with construction on the Bordersley power site has been issued by the Owners Engineer for the construction and commissioning of the Bordersley site - 6,000,000 ordinary shares in the capital of Kibo at an issue price of GBP0.0525 per share – Paid RNS 9 September 2019

• Upon receiving confirmation from MED that a final notice to proceed with construction on the Bordersley power site has been issued by the Owners Engineer for the construction and commissioning of the Bordersley site - 6,000,000 ordinary shares in the capital of Kibo at an issue price of GBP0.0525 per share;

• Upon receiving confirmation from MED that the Owners Engineer for the construction and commissioning of the Bordersley site has commenced with commissioning of the Bordersley power plant - 6,000,000 ordinary shares in the capital of Kibo at an issue price of GBP0.0525 per share; and

• Upon receiving confirmation from MED that the Owners Engineer for the construction and commissioning of the Bordersley site has confirmed steady state production at the Bordersley power plant - 6,000,000 ordinary shares in the capital of Kibo at an issue price of GBP0.0525 per share.

So why is LC throwing about confetti that he doesn’t need to?

JD

And your consistent itteration that has peak power is yesterday’s technology is in direct contravention with Ofgems own strategy. But I guess you know more than them?

JD

If the issue is ‘Coal’ in perfect isolation as you claim, Short6, why does NCCL with one COAL project have a MCAP 6 times greater that ours?

JD

People now need money to weather the oncoming financial storm and will sell out at any SP. Add that to a CEO who has hurled shares around with reckless abandon, a PI share base that would get out if they had the chance, a major shareholder that uses us as a sock puppet and a circling wagon of bucket shops and there really is the chance this goes to 0.1p per share.

JD

That’s a fair comment, when you look at NCCL you see a company that has vigorously protected its value and shares in issue, over many years, maybe, possibly at the expense of progressing its projects at times.

LC has just let rip with reckless abandon and you have now seen the fruit of that, a company that has an SP at 1/10th it’s assets.

I notice the two big sells today at Kat and Kibo atbthe sane time, almost certainly the same party.

JD

KAT got sold down at the exact same time. AIM at its most disingenuous and dangerous, you can screw companies down by 30% on £8k of volume.

JD

Today’s RNS had all the hallmarks of a TS Capital / Sanderson Capital giveaway. The warrants attached to it are the hallmark, there is only one thing better than a freebie, and that is a another follow up freebie with no risk attached over an open ended timeframe. Louis knows what side is bread is buttered.

JD

I see LC is continues do obliterate our KAT holding by tossing the confetti about.

I wonder when our next going over will be here?

JD

You’re almost certainly correct, Bcl.

JD

Markdods, that is (we assume) the pipeline of projects Kibo and their USD$100m 'investor' intends to buy from balance power and develop.

JD

Gillie, I’m convinced that the placing with be here before too long, they may wait to July and the AGM to increase the share totals for the company (currently at 2b) as to avoid a mess at a GM before this. But it will happen. I’m also convinced this will do well at some point, but by then me, you and all the other PIs who payed LC’s wages will be diluted to oblivion. LC will make a killing thou.

JD

That update is a disgrace.

JD

I fully expect a placing down here at some level. BoD and other bucket shop shareholders will mop them all up.

As I said, this is EUA all over again, dragged down to the rocks on never ending placings and then it finally does something. I’ve got a chunk of cash waiting for when the inevitable happens.

JD

Still, at least Stiegler’s Gorge will be up and running in 24 months!!!

JD

Just another target that comes and goes, Gillie. He never hit’s a target, it’s the only thing you can count on with Louis Coetzee. He’ll blame it on Coronavirus, but it will be his own incompetence to blame. Still, Gold looks like it’s about to make an all-time record in the next few months IMHO. Katoro may do well by us!

JD

It Coetzee’s ‘Head In Sand’ Management Philosophy and hope for the best while still filling your pockets at the same time. If he is serious about this company there will be an update this week of how he has pared back costs to deal with the next 6 / 12 months. You could actually get out with a solid management update to shore up confidence.

It’s 50/50 though, just as likely he announces wage rises for everyone.

JD

I feel sorry for the distressed seller here, whomever that may be, someone obviously needs the cash at any level.

Give it a few weeks and some stability then it starts to look insanely cheap should any of these gas projects get the pilot light (sorry, couldn’t help myself).

Stay safe peeps it’s only money here.

JD

East lol.

JD

You know, Bcl, for the first time in a while, I’m going to disagree with you. I sense a phenomenal opportunity here.

We are extremely fortunate to be in a company who’s overheads could almost be reduced to absolute zero, everything can be scaled back and put on ‘layaway’ and directors and staff can cut their cloth accordingly and can be paid in shares if they really want to hang about, if not, they are free to leave. That’s if of course any kind of funding isn’t available in any shape or form, which, there may be anyway. Sanderson and Shumba can’t let administration happen in any way shape or form (it will bust Sanderson for starters).

Not many are in that fortunate position, it’s a complete bonfire out there in PLC land. The UK will still need 12.5% gas power emergency / peak power back up for every 100% renewables installed (Ofgem’s numbers).

It’ll be rough, but the sun will still rise in the west and the UK will still need power. And who really knows what the hell is happening with our African Projects, but considering the MCAP here is £3m, anything is a bonus.

I made a small fortune on Taylor Wimpey during the 2008 crash, I took a large position (for a 28 year old living in a Glasgow Tenement) at the time when the SP was at 5p and was due to go bust under huge debts and the market had written it off, I bucked the market then and maybe I can do it here too.

ATB

JD

Agreed, I wouldn't even know if i could afford it, but I would make the choice at the time. We should be offered it thou.

JD