Member Info for JDwag

It doesn’t really work like that, Bcl. SEPCO3 aren’t here for KIBO ENERGY PLC. They are here for the 3 No. African Projects on an individual SPV basis, both in terms of the Equity, Debt (their parent company sure as hell is) and then then EPC Contractor Role for SEPCO3. And with all respect, they don’t think like you and I. It’s a multi decade play for them, $1m or $100m, it’s all chicken feed to them.

JD

With Sanderson already on 22% of the company they aren’t going to get any more that 7%(ish). Beyond that they are into 30% and in to mandatory takeover territory. Tanvier Malik is not going to want to take over a listed company and all the scrutiny that comes with that!

JD

Bcl, there is no immediate placing coming here IMHO, next cash up will be another Sanderson Tranche, the ‘consolidation’ is for the worst case scenario (should it happen) that he is right to prepare for (hope for the best, plan for the worst), I doubt we could even get a placing away here in this market without doing something stupid like offering a 30-50% discount, Sanderson won’t allow that.

I would generally take umbrage on a £1m ‘won’t last long’. £1.15m, remarkably has gotten us from January to mid-September and later in the week when the Interim Results we’ll see exactly what ‘cash burn’ is. It will be better than most think.

As for ‘wait’ it will be when the cycle turns, and not before, months or years, could be either, and that just the truth.

JD

See the SAV news this morning? Huge discount, there is no money out there for this game at the moment, we need to recognise that and be prepared to wait here.

JD

Working on my I Phone mate, yes. Link below:

http://kibo.energy/wp-content/uploads/Q3-Kibo-Presentation-Final-120919.pdf

JD

Check these guys out who have now turned up on our presentation:

http://cornerstoneinfra.co.za

JD

Is still on the PPA list.....

JD

I would also add that the Interim 6 Month Results to 30 June 2019 will be issued next Friday. They will shine a light on the cash position as of that date. At the start of 2019 they had £650k on the books plus the £500k they took from Sanderson in March. So let's see how far £1.15m can get you on extreme austerity measures. My bet is the cash position is much better than some wish for.

JD

Only when you come to settle it with a new issue of shares, Bcl. Changing the amount of shares in issue is RNS’able, but not paying your BoD by agreement? I don’t think that requires any RNS from what I have seen over the years on AIM.

JD

So, by the time Santa comes down yer Chimney:

- EAPP/SAPP PPAs for MCPP;
- Vale PPA for BIPP (I think the Moz Gov PPA will be post New Year);
- ML for MCPP; and
- Assortment of MED projects to come along.

I’ll settle for that, and if that is what transpires in the next 15/16 weeks then 2020 should be epic.

Get the top up money ready JD.

JD

And i’ll throw another theory out there, any shares he takes in Lieu of salary I think he’ll take at 5.25p. Just a thought.

JD

Should be raining Benga and Mbeya PPAs in Q4.

JD

I think that makes it clear that the next tranche of funding will be via Sanderson and their drawdown facility IMHO. This will ensure Sanderson aren’t ‘washed away’ in dilution and is probably a prerequisite of Sanderson continuing to fund it here only if ‘austerity measures’ where implemented.

Also, as I’ve said here numerous times the only way they have made £1.1m (and change) go nine months into the financial year probably beyond this is I doubt the BoD have been paid (probably since February or March I make it). I expect them to be taking a chunk of shares in lieu of this sooner or later IMHO.

JD

“A major milestone and trigger event for further advanced development work is the award of the Mining Licence for the coal mine; this remains pending but is nearing conclusion as the Company has been informed that approval and award may be expected in the near term.”

JD

That’s the biggie:

“The Company has, however, stated at several occasions in recent time that it is looking at finalising more than one PPA by the end of 2019.”

JD

Haddock btw, I won't hear any of that Cod nonsense.

JD

Spot on Slong. We get that that sooner than we think.

JD

Yep. Spot on Bcl, priced to go bust. Small top up of 65k for Moi, couldn't say no when they dropped the SP and tightened the spread.

JD

Huge sums, eh?

JD

Indicative power generation revenues, over an assumed 25 year plant operation, of approximately US$7.8 to US$8.4billion;

- Indicative pre-tax equity IRR in excess of 23%;

- Indicative post-tax payback of approximately 8 to 9 years;

- Indicative project NPV range at a 15% discount rate of US$230 to US$280 million.

JD