Member Info for JDwag

More than that, Andrew. I think you also have to look at Kibo getting debt / liabilities free and also offloading Haneti as part of this overall strategy to bring ‘in’ SEPCO. Kibo is now an exceptional clean vessel in corporate structure terms and any nasty hidden dangers. You have to think that this was part of the SEPCO buy in conditions, to take anything and everything off the table they didn’t like before buying in. And I for one have no problems in being used as SEPCO (or their parents companies) ‘vassal’ in Africa. It should work out very well even for us mere PIs. JD

Great posting, Wimbo. Good weekend all. JD

He’s getting closer and closer to pulling off something very special IMHO. Sure, the Tanzania situation with the government is frustrating, but delays aside, we are still in prime position for a piece of the pie there, soon to have two Mining licences over 420 million tonnes resource of coal over two countries, give it 12 months IMHO and we will have three thermal coal projects all at BFS Stage and probably MCPP with a PPA and full tilt at or F.C. or even towards or in construction. SEPCO buying in will be a big deal here, more than the cash it brings veracity to the whole model IMHO. It’s a long haul business strategy this for very large results if you have the balls to stick it out, I realise not everyone does. JD

Genuinely sad at how you’ve turned out, nothing wrong with selling out btw, all investments are personal and we all individually take the wins and losses, but to then just hang out on the same BB where only minutes ago where talking of £1.80 per share and now panning the life out of it for your own financial gain / enjoyment is utterly shameless.

Don’t bother responding you’ve been filtered.

JD

Sonic,

Are you for real here mate?

JD

Very positive, clearly Kibo want the Bots Government to go along with their plans / vision and you would assume that having presented the ML Application to the Bots Government before the formal application that they obviously expect that this will help ‘hurray’ up the application and prevent the need for resubmittals, etc. The PPA negotiations will be part of this presentation also.

The company is developing a real arsenal here in terms of project strength.

JD

That won’t affect anything, though. Sepco’s due diligence is based on a specific equity purchase across Kibo Energy PLC. They have already signed their contracts for the EPC requirements for MCPP Plant and Power Lines. Don’t confuse the two.

JD

Stitching together the RNS timelines, Wimbo, you have to conclude that you are correct, the SEPCO RNS of 3/July/18 was released only days after the Benga JV RNS was released / finalised, I doubt that is a coincidence.

The way in which this has all played out you also have to think Kibo / SEPCO have been jointly building these projects in the background with each other for quite a time now and hence the proposed equity stake when they were satisfied that the equity buy in was worth it across the board.

The SEPCO buy in will happen, however, considering they are a small part of an enormous Chinese State owned conglomerate, I would imagine their own internal hoops and due diligence required to get approval for this stake in Kibo is rather bureaucratic……

JD

Sonic, Must have missed this in my research, can you please point me to the RNS where it states ‘7th of March’ anywhere?? I notice you aren’t repeating your ‘Conditional SML’ theory anymore...... JD

after all the blood letting what we are left with is a debt feee company on the cusp of a major investment by the Chinese State no less, the most advanced IPP in the country with an SML imminent and a raft of other late stage very large projects in the cards. Not quite the disaster some would have left you think..... JD

Agree, Dave.

I'm super hopeful we see the whites of SEPCO's eyes regarding a buy in very shortly based on where our value must be heading.

JD

Agree entirely, SGB, we discussed this on here a few weeks ago and the idea of a ‘conditional SML’ was muted, which, I still can’t find any evidence in the Mining Code of.

JD

Sonic,

Have you sold out completely here?

JD

Reading between the lines, you have to think that as the last ‘tender’ was not openly tendered (it was sent out to only a few well progressed projects as we were told in the LC VOX interview) this is the reason it was pulled and now it has been reissued as an open tender through the Tanesco Portal. Looks to be a procurement balls up (and a really rookie one at that).

Beyond that, I think we should take some comfort in the speed at which this has been reissued after it was pulled, within business 48 hours. They clearly want these ‘coal’ projects to go ahead, and once the IFQ has passed I think we may be impressed at how quickly Stage 2 of this process happens. Dare I even say, they may be getting their house in order here……

JD

While Tanzania as an exception has been very frustrating, once we get through this process by early next year we will have three late stage projects of 150Mw (or more) Thermal Coal Plants and associated mines.

The big picture, while being delayed has only gotten bigger…….

JD

https://en.m.wikipedia.org/wiki/Grand_Inga_Dam One of the projects mentioned in that BBC article is the Grand Inga Dam project in DRC. It’s cost will be $100b, and generate some 40,000Mw or something stupid like that. Biggest dam ever. Of course, no one can find it and the World Bank has run a mile. Sound familiar? JD

We’ve been here before, the World Commission on Dams in 1997 published the most comprehensive framework to follow when setting out on large Hydropower. The conclusion wasn’t great for the financial and ecological viability of large Hydropower: https://www.internationalrivers.org/campaigns/the-world-commission-on-dams Of course this has all been forgotten and we’ve come full circle. JD

Daily bullish tweets from Kibo, there seems to be an underlying confidence here, hoping for a SEPCO Surprise...... JD

Also, if you look at our website, SEPCO3 are already stated as our definitive partner in all three projects. Time will tell just how far we are actually advanced if and or when SEPCO3 take their equity stake and at what price. JD

Dave, That’s what I am sitting here thinking. If we are already in a JDA with SEPCO3 then are we are quite adcanced here??? JD