Member Info for JDwag

On Page 17 (based on a complete assumption they caveat to be fair to them) they have the full 15% / 94m shares take by SEPCO during December at 2p. I’d like to hope one of those is bang on..... JD

Call him what he is. He’s a disgrace. JD

Small correction, SGB. No £1m needed for Benga. The £1m related to the minimum spend towards the DFS for Kibo to maintain the 65% interest. So that comes from operational cash ‘burn’. Kibo’s website already states we have spent £230k towards this already. JD

Just reading through it. The Dec 2018 (cash) position estimate is very interesting. Stating estimated to have £1.3m on Net Cash. Most be seriously reducing costs and conserving cash to boot. Even if SEPCO3 don’t track in the next day or two and it’s delayed it looks like we are in a healthy / no placings required place. Other than that it is nice to have my positive thoughts here reinforced by another. Great times ahead IMHO. JD

What do they know we don’t to warrant a 650% rise on this??? JD

Only feels that way, the night is darkest just before the dawn….

JD

Interesting to note that they have formed (or are in the process of) a JDA with the same company as us (Power Construction Corporation of China, Ltd is the ‘Parent’ organisation of SEPCO3). Maybe not surprising considering the ultimate ‘Parent’ company is the Grid Corporation of China (the largest company on earth I know believe by Revenues).

I advise folks to go an read their RNS, yes, the headline figure of 4,000Mw in their flagship Bangladesh Project is eye catching, but the RNS clearly highlights they have a long ways to go on in terms of completing the ‘viability and feasibility’ of the project. Please compare that to how far along the process we are in at MCPP and MCIPP……..Of course, we (as shareholders) have funded all of the work to date without any Chinese money to retain control of the company and to retain all ownership.

So the question is, what are SEPCO3 willing to pay for this??? Exciting to think eh?

JD

I think that is a most human of traits. We like working to deadlines, you see it every day in business, I rarely receive reports, etc. early, it’s usually always up against the 11th Hour (and I include myself in that).

JD

Another 12k top up for me. What will that £250 be worth after the SEPCO buy in………

JD

In fact in its judgement it makes it abundantly clear that it’s a ‘standstill period’ while the U.K. seeks permission from the Commission on state aid principles. Which, they will 100% get as even the EU are demented enough to let the power go out in its countries based on competition dogma. But of course, MED is only one string to the multifaceted bow that is Kibo. JD

Thanks for posting, great write up. ‘Next, Kibo aims to introduce renewable energy and gas into its portfolio, but it is still “scanning the environment” for suitable projects.’ As I said he before, SEPCO will want huge scale here. Gas comes next IMHO. JD

Oh look, all the Private Frazer Brigade have turned up. JD

Follow up question. What other ‘non-core’ businesses / liabilities have Kibo to get rid of now? Can’t think of any myself.

JD

They have to be connected IMHO! As you say for the sake of debate does a subsidiary of the Chinese State want to take an equity stake in a business with ‘part embers’ of a mining company which they have no interest in? I seriously doubt it. They will want a no risk, all liability free company, surely?

JD

I’m very much looking forward to the run up to Friday and I believe the SEPCO3 buy in.

The Haneti sale was announced in late June this year (just days before the 3 July SEPCO3 announcement). IMHO everything has been streamlined in this company to facilitate the SPECO3 buy in, i.e. sales of the non-core business (mining) and purchase of the core activities (energy projects) and also getting rid of all the debt / liabilities. Good times ahead IMHO.

JD

Agree, BCL. Deliberate tell IMHO. News soon........

JD

It’s also untrue. He was also ‘in front’ of shareholders during the last two AGMs. You could have also seen him at the Katoro AGM. But I guess you don’t count them? JD

Someone passed me this on. Mind blowing the population growth forecasted for the part of the world we are doing business in and what that means for energy requirements. Exponential growth will be required.

http://www.visualcapitalist.com/worlds-20-largest-megacities-2100/

JD

Thing is, as you have said before yourself, any kind of news that will take us out of this 2p range / slump is likely to be the kind of news that takes us much higher than just back to the 5 / 6p range.

I’m not saying we won’t see any more short term bumps in the road, the SEPCO3 proposed equity purchase may be pushed back again, I don’t know. But I believe 100% it will eventually happen, as will our mine licences (plural) as will our PPAs (plural).

This is a schizophrenic situation, the SP leads you to think nothing but bad things, but I have a contrarian view to that and are invested as such. I think we are closing in on glory IMHO.

JD

'Only if you have been in the deepest valley, can you ever know how magnificent it is to be on the highest mountain.'

Richard Milhous Nixon.

Lace up those hiking boots boys the climb won't be far off.

JD