The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
It IS disgusting that the institutions are baling out Johnson (from his 'loan' except for £5m) by acquiring cheap shares that steal value from private investors. Johnson is to blame, yet he scuttles away ! 'Serial Entrepreneurs' - no matter how righteously they lecture others - (or maybe because they do) - always turn out the same. The fact is that Johnson made his money through that easiest of processes - 'rolling out' a consumer product (Pizza Express) during a period when said 'product' happened to be going through a phase of increasing appeal. Its when the appeal fades that the formula (always) implodes, and the 'entrepreneur' scuttles away.
re new EdM chmn ! But when will the actual hand-over become effective ? Usually takes a few months after the announcement. Let's hope not.
Not Amused - Its been the same since the Mining Maven pantomime 4 yrs ago when he said 'financial close within a few months' and in answer to serious question 'did he know what that meant ?', he repeated it. He was out of his depth from the very beginning.
Padmaster - Astonishing that no one has hoisted in that if Newcrest and BHP are 'partnering', there won't be the fight for Cascabel that imho was powering the shares up until the suggestion appeared a few days ago. Doesn't worry me though - I'm looking to add lower down.
Sorry have lost. You can find if you Google it ! The world bank is financing the grid, not the power source.We have to see whether GE's 'cleaner' energy from coal is clean enough ! I suggested when the RFQ was announced that this might be one factor behind it. Another might have been stalled negotiations on the PPA. We'll have to see.Trouble is the world bank's attitude will influence other lenders too. I can understand posters hoping for a Kibo bounce if MCPP goes ahead. But imho its risky just at this moment to count on it. Its very strange that LC still can't confirm that PPA negotiations are still on. Even stranger with GE supposed to be on the inside.
The World Bank is reassessing its support for the only coal power plant project left on its books.
Press Report June 2018
The bank was considering guaranteeing loans to the Kosovo C lignite-fired power station, proposed to be built just outside the Kosovan capital Pristina. It was the last exception to a policy against backing coal projects.
But on Wednesday, a World Bank spokesperson told Climate Home News it was finalising work on a study of the country’s options for rebuilding its crumbling power sector.
The bank conducted a similar study in 2011 and concluded that a new coal power station was the preferred option to supply Kosovo’s electricity.
The spokesperson hinted the bank may be reassessing that finding.
“The pace of technology change in the energy sector is moving fast, especially in renewables, such as solar, wind, and storage, where prices continue to decline. Our analysis is taking into account these developments and we are keeping the government informed,” he said.
No mining or project related company's shares are ever an 'investment'. They are always a speculation on what's going to happen next ?
Its not confrontational to point out that a 70p Kibo share price is from Alice in Wonderland. It would mean a market cap at present of £450m - when Kibo only has some $30m of assets and no prospect of more in the next four years at least, except by Sepco or shareholders injecting funds in return for more shares. If Sepco injects, say £10m at a 5p share price, 70p would be even further adrift from reality. Its basic investment analysis, and LSE has no right to suppress such professionally correct observations. If it upsets some others to have basic investment facts pointed out to them,. its their problem. It would also appear to be a problem for LSE's level of professional knowledge
There's a poster on Kibo, boasts he is a 'risk' expert with a big consulting actuarial firm, put the whole of his pension fund in ! Its now halved, and likely will go even lower. "Whom the Gods wish to destroy, they will first puff up with pride" (hubris really, or words to that effect !)
So isn't it funny, MikeMike, that this has only developed, suddenly, after an inordinately long negotiation about MCPP's required PPA tariff ? In April LC was giving the impression it wouldn't take too long. Can you not read between the lines ?
From all that has gone before during this year, and the hoo-ha in previous years about the capacity charges Tanz baulks at paying, it seems obvious the need to tick every box, to prevent internal objections to any go-ahead for MPCC, revolves around the tariff that Kibo's investors will need to make it viable. LC should have been asked outright - Is the delay and RFQ basically down to inability to agree a PPA tariff for MCPP ? (Its been 6 months FGS !) It seems almost certain that it is. In which case, notwithstanding that MCPP might be the most practicable of all, Kibo's chance of squeezing a 'free carry' into the gap between what Tanz will pay and what investors will need, is not what was hoped for. I believe MCPP will go ahead - and the shares will bounce on the prospect - but it could be a dead cat bounce once investors realise that MCPP won't be that profitable for Kibo shareholders, and meanwhile it will sooner or later have to dilute them rather more than now. Sepco might well buy in - not because it thinks Kibo will be a profitable investment - but because supplying kit is far more profitable, and it too will contribute to the large dilution still to come. As a relative newcomer on these boards has said - its always a good idea to take note of 'negative' opinions. It usually saves a lot of money !
I am quite entitled to add to DaveyCafeRacer's list of red flags that three or four well known posters on here have been consistently ramping Kibo's share price to unrealistic and ill informed 'targets', and that the same posters have you delete anything to the contrary. Have you noticed Kibo's share price performance over the last two years ? Have you asked those posters to report their credentials to make such predictions ? I have reported mine to you in the past. Kindly do not delete this post.