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Excellent reply Nelson. Up to your usual standards. How about doing some research and coming back with a convincing counter argument.

Doesn't anyone here take any notice of the news. You can't open a newspaper or watch the tv news without some reference to global warming/climate change.
Theresa May said the UK will phase out using coal fired power stations by 2025, Canada are following suit. Australia said they won't build any NEW coal fired power stations and Kenya have put on indefinite hold, the proposed 1000MW plant at Lamu siting environmental concerns at their UNESCO world heritage site, plus the plant would add 700% to Kenya's green house gas emissions.
The EU recently published the top 10 most polluting company's in Europe. The top 9 were all coal fired power stations with Ryanair coming in 10th place.
Mozambique has suffered it's worst 2 cyclones in living memory earlier this year, covering large swathes of land and killing over 300 people. Then there's all the wild fires we've seen lately.
IMO Kibo will NEVER build any coal fired power stations. They've left it far too late to start now.
Coetzee has been talking about adding on renewable to a coal plant and is in talks with ESS the battery storage company. So the only way I see KIBO surviving now is to ditch coal completely and go for 100% renewables with battery back up.

"We think that there is strong chance that prices will continue to grow and, therefore, Katoro Gold with its dual gold and nickel focus seems to be a very good investment option.
Gold, what gold?
One down, just Haneti to go.
I can hear the fat lady limbering up.

Abbott thinks at least 300,000 would take part in a National Peoples Vote on brexit.

As David Lammy put it. Africa doesn't need any more white saviours.

Bank holiday in SA today so wasn't expecting anything today anyway. And I love a Thursday RNS.
Oh well, maybe one day you'll get something right JD. Lol

Hysterical one JD

But JD, you said in an earlier post you would suspect Sanderson to convert the next £500,000 into shares at par value. That would take them to 27%
Getting very close to the magic 30%.

JD, if Sanderson loan kibo the whole £2.94 million and get repaid in shares, they will have over 50% of the company.
It's my belief that once over 30% a majority shareholder has to make a mandatory offer for the whole company.
Is that correct?

Still it's good to know that if you take a punt on a project that goes tits up, you can get your money back at shareholders expense. 15% dilution.
Also i very much doubt Sanderson will convert £500,000 into shares at par value unless they get definite
(exclusive) proof that one of the other projects WILL reach fruition.

So sanderson were the only source of funding for kibo and the only way they were going to get it was by converting sanderson's worthless 2.5% of the MCPP into 15% of kibo, hopefully protecting their £1.5 million investment from total loss.
It's a pity the rest of us haven't got a knight in shining armour to bail us out when we lose on our investments.

Great answer mike.

TBH I can't work out whether today's rns was good news or bad. Judging by the sp it was good, but it seems to me that Sanderson have exchanged their paltry 2.5% holding in the MCPP into 126million KIBO shares taking their holding in KIBO from 8.24% to 23.38%. They now own nearly a quarter of KIBO.
Is that good or bad?

I posted a couple of years ago, Coetzee should be stuffing brown envelopes. But i was wrong, It's suitcases full of cash they wanted. Greedy bastards.

oops, the link didn't work

mike, the like didn't work.
Just highlight it, right click and google search.

Worth a read
For UK energy, 'peakers' play a blinder - The National

mike the world is changing. Climate change is in the news all the time. Amu powers proposed 1000mW power station at Lamu is unlikely to go ahead now as Kenya is gearing up for 100% green energy.
If LC is serious about Solar, kibo might just have a chance, but it will need a huge change in strategy.

Policy poses fresh headache for Sh200b Lamu coal plant : The Standard

UK government advisors are saying new homes should be banned from connecting the the gas grid by 2025. Gas boilers and hobs should be banned for new builds by the same time.
Today Scottish Power announced their going over to 100% green energy. They say wind is now the cheapest form of energy.
The time for coal to power is fast running out and kibo have left it far too late. I doubt whether Moz or Bots will even go ahead now. Their only hope now is to get into renewables or go bust.

In my view, the PPA was the problem. KIBO and TANESCO were locked in PPA discussions for years and despite Coetzee saying negotiations were going well, they couldn't come to an agreement.
KIBO obviously wanted more for their electricity than TANESCO were prepared to pay and so TANESCO decided there's no point letting KIBO move on to phase 2 of the bidding process.
That's my guess anyway.