Member Info for JDwag

I'll stick to my timeliness on the SML being issued by end of October. JD

The existing PL, PL7005/2011 has now been sub-divided into three areas, the top area has kept the PL7005/2011 designation and has been extended for 2 further years as part of the renewal of the Licence. The bottom area has now been designated PL/13203/2018 and this is a new application for a PL. The middle area is the application for the SML (half of it as the other half is in the adjacent PL area). It looks to me this is still in motion, PL7006/2011 (renewal pending) looks like it will also have to be subdivided as it holds the other half of the SML. So we will have distinct areas for the SML and PLs. The bullish thing for me is this is all being divided up on Licence lines and is a clear indicator that the administration Work is being laid to have both the SMLs and PLs renewed and issued. Looks like the Mining Commission is finally getting out from under is own feet. Also bullish is that the Mining Commission has obviously agreed to the ‘redrawing’ of the PL lines and happy to issue a renewal on this basis. Shows that the relationships behind the scenes are just fine. JD

Also the ‘sub-division’ appears to have been granted in part of the prospecting Licence and a fresh application in the other. Anyway, it has all been done to seperate the PLs from the SMLs. Looks like it’s moving all in the right direction. JD

Okay, so just spent the last 30 mins trying get to figure out what is going on with Kibo's Prospecting Licences (under Mbeya Coal Limited). It looks like the brand new application (PL13203/2018) makes up half the land of the old Prospecting licence (which part of the SML now sits on). So it looks like the land has been divided up into SML Application and Prospecting Licence Application. So (with my positive hat on) has this now been requires to be subdivided due to the SML having been approved and the remaining land needing a new application as a new Prospecting Licence? Looks positive. JD

Where and what for mate? Not got access to the portal either. Is it for more coal? JD

I disagree. There will be plenty of takers, but I think they have wised up to the fact that China was loaning to them at long term unsustainable rates. It’s about ensuring that long term infrastructure spending is affordable for them and that they aren’t saddled with lots of long term unsustainable debt. They’ll extract the best possible deal out of Kibo, and there is nothing wrong with that considering some of the crazy IPP Tariff Rates that we’re agreed in the past. JD

For how it’s from (GoT’s mouthpiece) as well as its content. 2 weeks old or so: https://www.nation.co.ke/oped/letters/China-needs-to-soften-its-power/440806-4785000-t8i2w3/index.html Clearly, the GoT are keen not to get shafted by any deal from an overbearing China..... JD

Thanks Gillie2. JD

Could be preparing the ground work for another private placing, a la ‘Irish Investors’ kind of thing. JD

You could be right. It doesn’t ‘feel’ like a generic placing that’s for sure. Could be for anything as I say. JD

Could be for any amount of reasons. Just doing my sums on cashburn against the cash on books at the last Results, they should have approx £1m left on account so we may be getting to the point where we need cash especially if the SML will need to be paid for soon, which it probably does. Does anyone remember how much our SML would cost straight up? JD

Tosh!! Check the asset value in the last set of annual accounts. JD

We will be told Friday or Monday imho. I’m still at a complete loss as to what to expect to be honest. JD

It would be nice one way or another to know Friday or Monday if our MoU PPA negotiations are still live or not. I think that is when we will find our. Complete 50/50 at this stage. JD

Thanks CB. JD

Is anyone able to reconfirm the time on Friday the tenders are ‘opened’? Just can’t find it on my phone. Thanks. JD

It’s a very fresh looking and modern website, looks great. SML and PPA on top of it would like nice. Impossible to know what Friday and the close of the tender deadline brings. We still haven’t had an update to our ‘clarification’ on our existing PPA negotiations. We could get anything come Friday. JD

Spot on Dave. In many respects Kibo is about the journey and not the destination for me. Although, the destination and the cash will also be alright I guess lol. JD

Thanks for posting BTW. Interesting he should do an elevator pitch and not a VOX interview. He obviously didn’t want to be asked any direct questions at this time. But merely emphasis all three projects continue to progress. I take this as positive. Others may not, your call. JD

Around at our mining peers, it’s not a happy space. There is very little liquidity / volume and everything these last few weeks are in a bit of a free fall (taking away our individual issues). JD