Member Info for Rocktapper

There are some liabilities for previous salaries and services amongst other things from the directors (including Prof. Conroy's daughter) that were removed a couple of years ago. These were defered for a year or two and then it went quiet.

It leaves Kibo with three high-risk African projects which the perception would be that they are currently far from ever going into development and a BoD that will be even more thinly stretched than they are now.

Am sat here scratching my head trying to work out where Kibo goes from here without any obvious sign that any of the remaining projects are suddenly going to take off.

H74, as you acknowledged, those large buys were from Tuesday morning (21st) when the news was announced. The MMs were pretty sneaky then and lifted the Ask by around 5p from the previous night's close to start then rapidly by another 8p to take it up to 28p (or even 31p) within the first 30 minutes of trading, before bringing the bid and ask down again. If there's one thing I've learned over the last few years is 'never' trade (or at least be extremely careful!) in the first 30 minutes of the day because the MMs are there to fleece you!
Having said all of that, I agree (and have been saying) the MCap is too low given the resource base. But then a lot of trust has been lost here along the way. Hopefully, the latest deal will go through and go a good way to restoring that.
IMHO most of the technical due diligence will have probably been done and it will be the legal due diligence and formation of the companies which may take a bit longer. Then having said that, who knows, it could all be put in place already as the RNSs are fairly detailed. We just have to wait and see...

Three years ago when I first invested in BRD, I had high hopes the company would produce a good return over the medium term to long term.
However, following the consolidation and now this further dilution, I am beginning to question whether they ever intend to push the share price up to 'respectable' levels or whether they will ever pay a dividend. Increasingly I wonder whether the company is simply a 'play-thing' to keep the BoD and managers in employment whilst private shareholders are simply an inconvenience.
Fingers crossed I'm wrong.

I agree there is an undervaluation here and in the past I have pointed out the undervaluation in respect of the coal resources controlled by the company.
However, in order to improve the valuation, the company surely has to have demonstrable assets, better still, in development or in production. Kibo's progress on this front is holding the company back (aside from what many of us think about our CEO). So without licences, development permissions, PPAs, planning permissions etc. we are 'stuck'. Some of these things can be controlled by the BoD (e.g. achieving necessary planning consents and carrying out the necessary studies). Other issues such as government permitting are in the 'Lap of the Gods'.
It would be interesting and indeed, a new piece of information for shareholders, to hear how the BoD are chasing up the permissions etc. in Botswana, Mozambique, Tanzania and the UK. Whilst covid is preventing travel and face-to-face meetings, there's technology to be able to email ministers / planning officials etc. and arrange Zoom meetings - even in less developed nations. Perhaps it's time to hear the detail on how the BoD are chasing and working for us instead of the now-tired rhetoric that gets wheeled out at every Share Talk interview! That might be another route to the restoration of faith in the company and its board?

It's hard to know which is the best piece of news today because it's all good! The Patent granting for the US and Japan is a certain winner given the potential size of the markets. But then there's the progress on the AxisBiotix front and the on-going work with Croda. Really good news. My impression is that if they can get approval for a system put in place for recording the trial data from people undergoing the tests on the AxisBiotix Psoriasis product - and the product does as expected - the whole thing will really fly! I also suspect / guess that they know the potential for positive outcomes and that the testing is more of a 'formality'. I'd only be selling SBTX at the moment if I was desperate for cash or I was OPTI!

After seeing significant selling yesterday (and presumably buying by the MMs) between 0.15p and 0.17p, we see selling by the MMs at 0.21p to 0.25p today - i.e. around 20% mark-up. No new news involved. Nice work if you can get it!

Deecay - you're correct and raise a valid point. However, the 2019/04150/PA Eyre Street application is on behalf of Balance Power Limited so it ties in despite the difference in spelling. Both the 2018/08546/PA and the 2019/04150/PA applications appear to be at the same point in the planning system - i.e. approved but awaiting submission of documents to satisfy their conditions.
I may have a further root around regarding the specific Bordersley spelling though!
The point is still there in that if they could get the Bordersley / Bordesley project over the line, it would restore some faith. I guess we will wait and see from the Share Talk interview, if it happens.

I've been banging on about the outstanding planning issues for Bordersley for months now. PixieDust's quoted application of 2018/08546/PA is one of the one's I found but he/she makes a good point regarding the director connection with Balance Power. The other application to be mindful of is 2019/04150/PA.
Both are approved with conditions and as I have said repeatedly, the conditions are not onerous but require the submission and Council approval of things like boundary treatment plans and parking layout prior to construction taking place. As I mentioned last Thursday, if these had been submitted for approval, one would expect they would be added to the planning application information shown on the BCC website. They have not. This implies that they have not been submitted. I don't think these plans would fall under an element of commercial confidentiality given that the other plans have been published.
Hence, my reasons for questioning the claim that the Bordersley site would have been commissioned at the end of Q1, even without coronavirus.
As I also commented on Thursday, it seems that Bordersley is the most straight forward project to get over the line and so if Kibo could get this done, it would restore some faith for a lot of us.

Maybe they simply charge less fees?

He is blaming covid for Bordersley! But they haven't submitted the necessary design modifications for the planning conditions to be discharged which will allow works to start on the site. All the nonsense about the Italians being delayed is smoke and mirrors in my opinion. When the design modifications and information required are submitted to Birmingham City Council planning, they would be expected to be published on the planning system and viewable on-line. This includes any further officer remarks or documentation. One might also expect to see a discharge of a condition if it had been made. As of this morning, still no new information....I now tend to think of Pinocchio when I read the RNSs!
I too am of the opinion that as soon as KIBO can complete just one project (e.g. Bordersley) - a little bit of faith may be restored.

Latest from Proactive Investors (but with an Aussie slant):
https://www.proactiveinvestors.co.uk/companies/news/922736/-gold-could-well-and-truly-break-out-past-the-2000oz-level--says-investment-adviser-davide-bosio-922736.html
CGNR needs to start riding the wave....! Desperately! And soon!

I'm not quite sure when it was revised. It seems to be up-to-date though:

https://www.skinbiotherapeutics.com/

Well, the shares for services don't appear to have had anything to do with submitting material to Birmingham City Council in order to get the planning conditions discharged for Bordersley (I've taken to checking almost daily now!). Whoever has accepted the shares in lieu of payment for services is either 'connected' (as some suggest) or is pretty confident that there's still 'life in the old dog yet'!!

How the 'official' LSE information shows that the consolidation took place and that it believes there are 127 million shares in issue when it didn't and technically there should be 1.27 billion still in issue! Clearly, some of us weren't the only ones who thought this would go through as a result of large corporate shareholders voting with the board.
I'm still confused as to why there was a need for the BoD to try to consolidate shares anyway. If anything, this BoD needs to get their act together and focus on just getting one of the four projects running properly. Bordersley seems the obvious choice. As I've mentioned previously, they need to get the planning sorted (which is relatively straightforward) then it's a question of bringing in the equipment and 'plugging it in'! Unless they are totally strapped for cash to do this, it's surely not beyond them to complete such a relatively simple project? One success would surely give confidence to the rest? But there's no doubt that the BoD seem to have lost the confidence of the majority of PIs on this board, myself included.

The conditions on what I believe are probably the planning applications for Bordersley still appear not to have been discharged (submissions of design amendments). Although these are minor, technically construction cannot commence until the necessary design modifications have been made and approved by Birmingham C.C. My perception is that the Covid-19 delay - whilst obviously true -is also a convenient excuse for the actual delay.
But given the way this company is being run now and the laissez faire attitude to PI's, it doesn't surprise me that they'll say or do anything to disguise the fact that the BoD have made little progress towards actually completing this and any of their other projects by Q1, H2 Q3 etc. It seems to be more about the 'deal' than about actually getting a project to construction and commissioning.
Furthermore, given the increasing difficulty for companies who have coal mining or coal-based electricity generation projects to secure financing, watch this space for the next round of RNS from KIBO saying, "We've bought a load of land in a sunny African country and intend to construct a sea of solar panels as we swap our focus to environmentally focused energy projects.!" All that, just before they stuff us all on the consolidation...

What would be really useful is if the previously drilled drill hole profiles with the 'high grade' gold intersections were overlaid on the IP chargeability and resisitivity profiles - assuming the IP survey was carried out in the vicinity of at least one of the previous drill holes? Then we could see the relationship between chargeability, resisitivity and gold grade too! The depth of the profile is around 80m according to the scale on the side of the profile and I seem to remember a few of the holes going deeper than that....
Nevertheless, the IP is a good mapping tool, especially in areas of green grass and little rock outcrop. It's a pity it's taken so long to get to the geophysics stage! Should have been attempted years ago. But are they now intending to survey along the whole 65 km long exploration area?!! That would definitely make it time for a placing! Hopefully they've obtained all the free 'Tellus' geophysics data and processed that for Clontibret? They might be able to spin another RNS out of that too!

The wait for news has proven to be worth it!

You have L2 information so you have a reasonably good idea how much stock there is to buy and sell, don't you? I've found as a general rule, double the amount shown on the L2 at each price band to take into account the stock that isn't showing!

There goes my optimism....!