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I have spent quite some time this morning looking at all of the headlines in as many African based news outlets as I can find. I can find a lot of headlines that state Kibo and EDL have had their bids rejected. This negative decision alone seems to have attracted a lot of news interest. However, I find it very strange that their is absolutely no news of any positive results in the tender process. We on this board probably had Kibo and EDL as the 2 front runners in the race and neither of them finished but it looks like no runners finished the race. In my view, there is a lot more news to come regarding this particular tender process.
Drax . I 100% respect your right to express your views and I do not expect them to agree with mine. What does irk me somewhat is your constant search looking for the opportunity to post something negative. We heard only yesterday that we had not been selected. We heard yesterday that Kibo had approached Tanesco looking for answers. However, it is not yet 0900hrs and you are criticising the company for not giving you the answers they undoubtedly do not have as yet.
Read your last 50 posts and you might see where I am coming from. I am neither promoting nor decrying LC but at least give the man the chance to get the correct information.
So at this stage, we do not know the reason why we did not progress to the next stage. I cannot believe it was a procedural issue as EDL must have made the same mistake. Let us at least wait for the correct information before slagging people off. I stated earlier there were a number of buffoons on this board waiting to use this opportunity to spout off. Global, the cap seems to fit you very well.
Morning Mikemike. I have heard anecdotal evidence that the reason we were excluded was due to a procedural issue. Can you point me to where this view comes from please. Whilst I appear to defend LC and the BoD at times I will be absolutely seething if the reason this project has failed is down to the Company not fully complying with the rules of tender, Especially when we have had two attempts at it. It surely is an impossibility that this is the reason.
http://c.newsnow.co.uk/A/973995759?-31747:20621
Another go at posting the news article link as it did not highlight in my original post.
I http://c.newsnow.co.uk/A/973995759?-31747:20621
Contrary to the opinions of a number of complete and utter buffoons on this board, the decision not to award Kibo further progress in the tender procedure has come as much of a shock to the BoD as it did to shareholders. I have little doubt the BoD at EDL feel the same way.
Like most of us on this board and indeed on the Twitter group, I am tens of thousands out of pocket at the moment. Whilst it is not going to affect me to the point I am going to have to change my lifestyle, it is, at the moment, going to affect my kids and grand kids future. However, the only person I blame for my misfortune is myself. I bought into Kibo over 4 years ago when Tz was a much different place. I have had a number of opportunities in this period to withdraw my Money at a small profit but failed to do so because of my own personal reasons and decisions.
https://allafrica.com/stories/201902130943.html
Tz must be an awful place to try and do business. Undoubtedly, the need for electricity is enormous and Kibo had the strategy and the means to meet that need. Actually we still do. However, the country the above internal audit appears to identify that the government and its departments are *******. I will leave you to fill in a number of your own descriptors.
Whether LC and the BoD get any answers we will have to wait and see. Given the competence levels of previous officials at Tanesco the answers could be numerous. But to blame the BoD for the decision is total stupidity.
http://c.newsnow.co.uk/A/974028199?-31747:20621
One thing is for sure, the Stiegler Gorge programme could well be the undoing of the current government as far as its finances go. It seems to be in a mess already and it has not even started.
At least we are not down and completely knocked out. We still have a number of potential opportunities to get some of our money back but it will take a while yet. In the meantime, can I suggest we stop having a go at individuals and stop blaming other people for the decisions you yourself made. The information was there for you to see and make your own minds up. Actually, it still is.
Like us all, I still have some hope of getting some of my money back through Botz Moz and our solar project but I am not holding my breath waiting for any return from the basket case that is Tz.
I used to be fanatical and never missed a match but a bit disillusioned with the club in recent years. However, still follow
every match. Got no midfield at the moment but still should get 3 points tonight.
Hi. Are you at the SOL tonight.
That’s my lot now. Another 59500 in the ISA pot. Cannot go much lower than it is now, surely.
Haway The Lads.
Have the BOD bought any additional shares yet? We are not in a closed period. If they bought a significant number of shares it would show they still have some confidence in the company. If they are not willing to declare such confidence, why should we buy any more?
Tz has got no other option but to provide a means of getting a significant power supply well before Stiegler starts producing, if indeed it ever does. Outside investmenthas all but dried up in Tz and I cannot see this situation improving until JPM gives some indication that his promise of industrialisation is sincere. I know of no other Company better placed to provide this energy than Kibo. We have paid our way to getting to a position where we await agreement on an SML, a PPA and a second stage tender approval. Who else is that far advanced? So while we wait for an answer that could come at any time, we are progressing other opportunities. ON THE FACE OF IT we look well placed. Can you imagine if Tz came good all of a sudden added to our other projects. 2019 should be our last year of uncertainty one way or another. GLA.
After you RS. Let shareholders see a massive purchase of shares from the BOD before asking us to buy more. You do not even have to wait, you could show goodwill and do it now given the current SP. You have had our money and goodwill long enough, now let us see some from the BOD.
I believe if we can get Med established up and running in the UK, it would be an excellent concept for the whole of Africa.
Drax. I would not worry too much about Boff. You should get an update from him by Wednesday at the latest. As we all know he is going to the investors meeting to tell LC what he thinks of him and what a terrible job he is doing as CEO of Kibo.
You would think that if sufficient numbers of intelligent people keep telling those close to Magafulli that a 26 month completion time is ludicrous, if not impossible, then someone with half a brain cell would at least dare to mention the issue within the inner circle. The donations, external investments and loans to Tz have virtually dried up and the Tz govt are spending a huge % of their GDP in paying for the Steigler Gorge Dam. The longer the construction goes on the more costly it is going to be and we all know it is going to be significantly longer than 26 months. With such a huge amount of " in country" finance involved, where is the money coming from to pay for everything else? This has all the hallmarks of being a legacy that no one would wish to be associated with.
Although I am a supporter of LC, with regards to where he has taken us regarding the potential of the company, I have got to agree that this Investors evening is a circus. To be in a position where 7 days before the event we do not have a venue is disgraceful and then to advertise the wrong date is wholly unprofessional to say the least. If the quality of the RNS promulgations reflect the quality of the companies tender and license submissions, it is no wonder we are still waiting for decisions. As SYM says he needs to have some positive news either before the meeting or on the night.
To go into a quiet corner and give yourself a nip to get back to reality. LC seems to be getting the blame for everything again this morning. I know this is bourne out of pure frustration, especially when it appears he cannot do even the simple things, like organise a meeting, efficiently. However, we sit at a point where we are waiting for decisions from 3rd parties. LC has taken us to a point where we await decisions to 5 or 6 key potentially company changing decisions. LC has gotten us here and the delays are totally, and I mean totally, out of his control. To suggest he might be standing down is ridiculous. He is as keen as we are to receive good news. He also knows that shareholders are fickle and on the first piece of meaningful news everyone will be singing his praises again. I am as peed off as anyone with these endless delays but hopefully am still in touch with the reality of the situation.
I have been in touch with the gurus on the tweet board to discuss the anomoly of the cadastre. I am reliably informed the matter was the subject of a RNS indicating it was recommended and is still shown on the Mining Commission website as Recommended.
I am sure if you re read your post you will agree it is pretty pointless. Does not even make sense other than to infer a serious degree of frustration. Now that we can all associate with. However, setting up major mining machinery and developing a road system takes a serious amount of time and effort, particularly in African time. So I view the RNS as positive and an indication we might be beginning to increase output soon which will give us all the new numbers we are looking for.