Member Info for JDwag

Based on the below numbers, I’m guessing that ‘Shumba Energy Limited & Related Parties* 15.91%’ didn’t vote / abstained?

Sanderson Capital Partners Ltd & Related Parties * 22.26% Shumba Energy Limited & Related Parties* 15.91% Yakoub Yakoubov* 4.10% Louis Coetzee (& related parties) (Director) 1.00% Andrew Lianos (Director) 0.94% Tinus Maree (Director) 0.36% Noel O'Keeffe (Director) 0.45% Christian Schaffalitzky (Director) 0.26% Wenzel Kerremans (Director) 0.05%.

JD

The numbers here are odd….

Did Sanderson and Shumba even vote?

JD

Will be interesting to see what the votes are in this afternoon’s AGM RNS? I’m expecting all motions past, however, always interesting to see the totals, we know what Shumba and Sanderson’s totals should add up to for example.

JD

I think you’ve hit the nail on the head there, BCL.

The Chairman’s statement now seems distant, almost weirdly out of date and lacking any kind of detail or the passion that was in the recent Q&A. For all the life of me this looks like a half hearted few paragraphs typed up in the Hotel bedroom in Dublin last night.

Is what it is, but one to instantly forget.

Interims, please.

JD

Who really knows what’s for us, I’ve taken my position (and will continue to add) based on the raw fundamentals here which I personally think are fabulous.

The rest of 2019 is damn important here, however, he needs to produce the big ticket items (PPAs).

JD

It’s a weird feeling here, Bcl, agreed, even though the fundamentals of this company IMHO has never been better medium and long term.

In the short term, rightly or wrongly, the word ‘dilution’ seems to hang like a ‘Sword of Damocles’ on this thread and share, I think wrongly, but as I have said before if they can bring out the four big hitters to a conclusion by year end then I don’t think we have much to fear in dilution (when it comes and it is only a matter of when of course) will be seen as a positive for progression IMHO. We need the following sorted out this year IMHO:

1. MCIPP ML;
2. Construction commenced on Bordesley 5Mw;
3. PPA(S) with EAPP / SAPP on MCPP; and
4. PPA / CPA with Vale.

JD

Posted on the Kibo Twitter page:

https://allafrica.com/stories/201909200817.html

Just like MCPP, BIPP is incredibly close to the interconnector route.

JD

So it is.

JD

On or before the 30 September, so this week or Monday at the latest.

Having been around this company for the length of time I have been, I am also expecting a piece of 'red meat' (rns) to be thrown to the PIs before the AGM which is this Thursday (in Dublin).

JD

What's next?

In order as I see it ( in my perfect world):

1. MCIPP ML by end of October;
2. Construction commenced on Bordesley 5Mw Power Plant by end of October;
3. PPA(S) with EAPP / SAPP on MCPP by end of November; and
4. PPA / CPA with Vale by end of November.

If Carlsberg made 4th Quarters lol.

Interim Results by end of September first though (hopefully fully tomorrow).

JD

I’m from an old school way of thinking, Wimbo, was brought up to believe hard work, a good attitude and perseverance has its rewards.

The phrase ‘delayed gratification’ will be what's used in Kibo and our respective shareholding’s, it will taste extra sweet when it happens.

I hope your well BTW.

JD

Well done, Max. I think the last Kibo Tweet on the EAPP / SAPP is a clue to what is next to come on MCPP:

https://af.reuters.com/article/investingNews/idAFKBN1W218H-OZABS

JD

I always find that kind of buying out of the Blue late on interesting.

JD

He’s long disappeared from my view, filtered across all platforms, unequivocally the worst PoS I have ever encountered on these boards.

JD

Spot on, aerial, it’s a special kind of scumbag that comes on their boards gloating of other people’s loses with some kind of perverse pleasure, it’s only behind the keyboard they will do it of course, these are the people who wouldn’t say boo to a mouse in real life.

SXX is a FTSE250 Listed Company, if they are struggling for funding this kind of well supported project, it says it all, really. That project and company will return, however, it’s a class project they have.

JD

I’ll always interact with the genuine, no matter how much I may / may not disagree with them. It’s why it’s sad to say that most posts on the Kibo LSE thread now go straight into my ‘filtered’ box never to be seen from again.

I may be mad, but I think the odds of us making it here and better than even. Historic chance to make a killing here IMHO.

JD

Well, let’s wait till the 6 Month Interims are published on Friday and see what the Jan to June cash burn actually was first. They may be conserving cash to such an extent that the next £500k isn’t needed for months yet.

JD

It’s the path of least resistance, Bcl. There is also no way Sanderson will allow dilution to oblivion they will demand LC uses the facility at hand and they will (which is why the previous cash has lasted so long) demand that they ‘cut their cloth’ suitably.

We will hobble on (if we wish to call it that) this way until projects have advanced to such a point that future funding becomes available at a price Sanderson / Kibo are happy with.

JD

“The Term Sheet also provides for the continuation of Kibo's USD 2,940,000 Forward Payment Facility (the "Facility") signed between Kibo and Sanderson, the full details of which are contained on the Company's RNS dated 21 December 2016 and which remains available under the same terms and conditions save for points covered below. The facility is currently undrawn with the previously outstanding balance having been settled in full in July 2018 (see RNS dated 9 July 2018).”

JD

You’re only going on the assumption that it is SEPCO3 refusing to buy in. That has never been disclosed. It could very well be the other way about i.e. Kibo refusing what they deem a ‘low ball’ offer from SEPCO3 and wishing the projects to be further advanced and thus getting a better SEPCO3 offer further down the line.

As I said previously, SEPCO3 / Power China (the Chinese State) end up owning all of our three major projects sooner or later. The question is how much does LC extract off of them for the pleasure of taking on three of the projects and how advanced they are at the time (development / construction / production).

He has one go at this, by giving SEPCO3 the keys to the castle for £5/6m quid is a failure for him (and us).

JD