Member Info for JDwag

Or any of the BoD still work for Kibo? Was there a mass resignation RNS I missed?

JD

Nuclear will NEVER be commercially visible.

The principle is sound. But the safety and security costs are wild beyond anything.

The notion you’d have ‘pop up’ Nuclear is a joke. Hinckley Point C is the most expensive power plant ever built in human history, EVER.

JD

There is so many shares out there swirling about that this is going to do the square root of **** all until Coetzee actually does his job for once and starts providing news that’s worth a ****. Any rise is mercilessly sold into. Again, this would be Coetzee’s fault.

JD

TTP,

Your are of course right, the easiest way for Kibo to get more cash for working capital is to have the SP gear through the 0.8 and 1p Warrant Prices. Due to the amount of share numbers outstanding and authorised, another placing here is actually much more difficult.

Let us hope that is why Louis Coetzee has gone as quiet as a churchyard mouse if late, he’s working on the kind of news that will do that.

JD

Your guess is as good as mine, Bcl, I doubt LC even has a grasp on things here anymore. It seems utterly listless.

Judging by previously disclosed cash burn here we will need funds here again in mid-March or so.

Considering we are already at the 2 billion authorised fully diluted level he would need to call a GM to raise that threshold, he won't do that as he won't risk that blowing up in his face.

If I had to bet it will be deferred payments and sanderson cash all the way to the AGM as last year and to what at that point I have no idea? Unless something happens and big we are looking at cataclysmic dilution in H2 this year sooner or later.

JD

Probably going to do an SXX. Wait till you have ran out of cash then the BoD, Shumba and Sanderson can make an all cash offer for 30% above the current sp and take it private at which point it will become a massive success having had PI idiots take all the risk for someone else’s reward.

JD

TTP, you could very well be right, the most exciting part of Kibo / best hope is probably MED. We are desperate to have Bordersley start on time and we equally need the pipeline of projects with Balance Power UK to come about rather sharpish, but we’ve been disappointed here so many times before I’ll believe it all when I see it.

JD

Sentiment is on the floor here, no getting away from it. Being AIM, it can change in an instant as SleepyDave says with the right news, that job lies squarely at the feet of the CEO to achieve.

JD

Also, why has our Mining Licences in Tanzania sat at ‘Application Recommended’ status for 6 months without being issued? Is there larger problems there? Of course Louis will know he just can’t be arsed telling us.

JD

Looks like Mbeya Coal Limited (Kibo) at surrendering a lot of Prospecting Licences in Tanzania. Tells you what they really think the prospects are here:

http://portal.madini.go.tz/map/

All that money p1ss£d down the drain by Captain Coetzee, useless muppet.

JD

I wouldn't believe anything this CEO says until he actually proves it, TTP. The only thing he has delivered to date is shareholder misery.

JD

No one knows. The CEO doesn’t think us PI Plebs worthy of knowing such information.

JD

Funny how white western governments are more than happy to have foreign mining companies employ 8 year old children to pull cobalt out of the ground with their bare hands to make the batteries that go into their new £1k I Phones, but utilise the same cheap baseload energy that we have for 200 years? No, that would be an outrage, another reason why China and India will clean our economic clocks in the years to come, we are making ourselves matter less and less relevant to poor people who wish to get on the ladder in the developing world.

Doesn’t matter anyway us. If and or when (and it’s a big bloody if) we ever get one of these off the ground it will be Chinese money anyway. Look at Shumba’s recent announcement on the funding of the petrochemical plant.

JD

The same thing has been tweeted out all this week / last week. In lieu of real news, our CEO is taking individual sheets out of the Q4 Presentation and tweeting them daily. Doesn’t fill me with much confidence!

In lieu of releasing real news and getting us out of this mess that he created, our CEO obviously believes that taking to twitter and reheating old PR is worthy of his £200k per year and the near £1m per year in organisational salaries. Painful is not the word that this is where this company is.

Here is a novel idea, why doesn’t the CEO release news of completing several multi-year, multi-billion dollar PPA(s)? That would make me eat wheelbarrow loads of Humble Pie, gladly, but Louis Coetzee doesn’t seem to be capable of that, never gotten a deal over the line in his puff because he has found out to be feckless and is stumbling around in the dark.

JD

blink if you are alive!

JD

Possibly, SD. Could also be Kibo’s new(ish) broker trying to create a market to shift the mountain of shares still held after the placing. The spread is actually very tight so it’s possibly that, just trying to create more liquidity.

But as you say, no one wants to be here, long term holders want a way out and there is no long term story to buy and nothing to trade as there is no news, we are, at least currently a ‘dead stick’.

It’s all a bit of a side show anyway, this is news depended, if the CEO continues to be as much use as a chocolate tea pot then we will just continue to languish here for ever and a day.

JD

Louis’s new buzzwords permeating through his interviews, presentations and twitter.

Guess it will be replaced at the next placing with ‘really, really, really Nearing commercialisation’.

Complete tit.

JD

Down to 1.35p(ish). I’m not even going to say what I had to buy to get there.

At 2b shares in issue that is bang on NAV at £27m. I’ve taken what I believe to be a hard headed financial decision, if we get wiped out by a low ball offer I can at least walk away with my stake back and be wiser for it 6 years on.

JD

I’m with SS on this, that is also why I have aggressively brought down my average, this will be taken out for peanuts IMHO. I just hope it is roughly around the price of the NAV and at least that way I get out with a small profit.

JD

100%, Bcl. The Placing was as much about cementing his place at the top of this putrid company as it was about keeping his inflated monthly salary going into his bank account. As long as he keeps these guys sweet he’s untouchable, we are merely bystanders, probably to be wiped out one day, probably days or weeks before Kibo hit’s the big time.

You see that with the Placing (Sanderson) and with the MCIPP Reorganisation (Shumba). We will be shafted in the end, it’s just how much.

JD