Kibo Energy (KIBO) is one of those AIM shares that seems to exist primarily to provide an income to the directors first and foremost. The RNS on 5th February did however catch my eye. This stated the valuation of Mast Energy Developments (MED), due to be spun out of Kibo and list on Wednesday (14th April) at £23.6 million, with Kibo retaining a 55% stake. It was a clear disconnect of value to Kibo’s share price at the time.
This series has gone on long enough so I’m bringing it to close this month with the biggest news relating to the ongoing moving of the goalposts at Kibo Energy (KIBO) which makes one wonder whether the flagship project in Tanzania is ever going to see the light of day.
It’s that time of the month again and with two of the seven mythical creatures proving their existence so far, I was hoping for some more progress this month from the remaining five. Alas no, just more prevarication, distraction and fund raising – how disappointing.
As Cornelius Nepos said: “After the darkness comes the light” and having been in despair last month writing June’s update, I am back to my bouncy best as Optibiotix (OPTI) has become the second Mythical Wonder to become real and in some style…..although I hope it now performs better than the first!
The great news is that our Woodlarks walk has now reached 57% of its sponsorship target. I'll do another training walk this afternoon with Joshua so as we do a quick march how about you check out the latest incredibly generous donations here and chip in yourself? In a long bearcast I cover Tesla (US:TSLA), Fishing Republic (FISH), Kibo (KIBO), UK Oil & Gas (UKOG) as lyin' Steve does the right thing - Frontera (FRR), Conroy Gold (CGNR), TrakM8 (TRAK), Avanti (AVN) and Cabot Energy (CAB). PS Wasn't the football incredibly exciting and a source of such joy? I view myself as British, not English but go on Eng-er-land!
I feel like shite, hence the late bearcast. I managed it! 27 miles in the heat today has taken its toll. I am in real pain in all sorts of places. Enjoy that pain TW haters, revel in it and make a donation HERE I could have walked 32 miles today but did not - that treat awaits me and Brokerman Dan on July 28. He is training hard too. Enjoy his pain and please donate HERE. In the podcast I pass on market intelligence on Optibiotix (OPTI), discuss Cynical's massive expose on Kibo (KIBO) HERE and then leap to the defence of both a PR firm and the asset stripper Jim Mellon. It must be the sun...
I’ve been following the Kibo Mining (KIBO) story for a while now watching Louis Coetzee continuing to fail to deliver the PPA at its flagship Mbeya power project but Friday’s announcement raised my eyebrows slightly higher than normal. In my view, it is either securities fraud or merely epitomises all that is wrong about disclosures and announcements and the roles of the various advisers at the lower end of the market.
When I started this series in January, I didn’t realise how dispiriting it would be as, yet again, my seven wannabe Loch Ness Monsters have proven to be just another set of blurry photographs of tree branches. At this rate I’m going to struggle to make it to the end of the year but at least I’m not a shareholder in any of them I guess.
A time for celebration as one of the Seven Mythical Creatures has become a reality this month with the long awaited launch of the Melody VR app from EVR Holdings (EVRH). We may never see such events again or at least not the share price anyway.
It’s time for my monthly look at this motley selection of AIM wannabes. Not much to say for most of them so want to focus on the contrasting progress reports from Xtract Resources (XTR) and EVR Holdings (EVRH).
Louis Coetzee is clearly a bit of a tease. On Tuesday, Kibo Mining (KIBO) was expected to update its investors on ongoing Power Purchase Agreement discussions and things looked promising when it issued a Company Update at 2pm... only for all shareholders to be bitterly disappointed by yet another discounted placing! What is going on Louis?
It’s time for my monthly look at this motley selection of AIM wannabes. A few positive pointers but they all remain resolutely out of reach for the time being; although after a false start at Vast Resources, I sense the wonder VR app at EVR Holdings is taking the lead.
Almost exactly three years ago, Kibo Mining (KIBO) raised funds from Hume Capital, a couple of weeks before it went into administration still holding the placing proceeds. Somewhat unbelievably, history has repeated itself with Beaufort Securities going into insolvency on Friday. It looks like a right old mess.
I started the year with a light-hearted look at a few value-generating AIM yarns that appear to have a lot in common with the Loch Ness Monster as there is some doubt as to whether they are ever going to be seen. It feels like monthly updates are appropriate and it’s been a busy start of the year for some of these AIM yetis.
I’ve been a bit preoccupied in recent weeks with a certain fund manager so thought I should catch up with a few old friends on AIM this weekend but it transpires that not a lot has actually happened. It made me realise more than ever that AIM is much more about the travelling I hope than the arriving. Accordingly, I thought it was more appropriate to write a piece heralding the 7 Mythical Wonders of the AIM Casino instead.
I don’t normally get into personal attacks but having finally caught up with Kibo Mining’s (KIBO) most recent Monthly Q&A and listened to its CEO’s implied dig at me, I thought I should give as good as I get. I was left thinking that Louis Coetzee doesn’t really understand what happened with Kibo’s recent convoluted funding or is just lying about it.
I am forced into doing a follow-up on Kibo Mining’s (KIBO) convertible loan funding arrangement announced on Wednesday last week which I covered HERE due to the fact that all loans were converted on the very next day on Thursday. What was the bloody point? Well, I reckon I worked it out.
Congrats to Kibo Mining (KIBO) for being the first of my preview targets to release results this week and, as my preview predicted, cash was pretty sparse, hence the £500,000 new funding announced this morning. Not a bad deal all in all but not sure what the directors are playing at.
Kibo Mining (KIBO) is a frustrating company as, at its heart, there’s quite an interesting project, namely the Mbeya Coal to Power Project (“MCPP”), unfortunately it’s in Tanzania and the delays are seemingly never-ending which means that it’s probably time to raise some more funds from somewhere, presumably from Beaufort / Sanderson.
Katoro Gold (KAT) was once the joke stock Opera Investments which did appear "accident prone". But it has now had the gold assets of Kibo (KIBO) injected into it, done a fund raise, moved to the AIM Casino and is, apparently, a whole new beast. House broker Beaufort has published a detailed note explaining why the shares should soar from 5.25p to 11.7p. I should note that Kibo retains a 56% stake in Katoro and we own a few Kibo shares.
Mixed emotions for me this week as it looks like one of the more entertaining stars of the Sub-Standard Shockers XI, Opera Investments (OPRA), may finally have done a decent looking deal with the Kibo Mining (KIBO) gold assets; however, it looks like it will be heading off for the sunnier climes of AIM as a result, leaving my squad ever so slightly weakened.
In this video from the storming success that was the 2017 UK Investor Show, Louis Coetzee, CEO of Kibo Mining (KIBO), is at the podium. And make sure that you keep April 21 2018 free for next year's UK Investor Show.
Four weeks ago, I wrote a critical piece on the terms of the loan deal between Kibo Mining (KIBO) and Sanderson / Beaufort. Well, the renegotiated repayment terms were announced this morning and should be applauded. As Jamie Lawson said, “I wasn’t expecting that!”
An absurd non-news RNS from Kibo Mining (KIBO) this morning looks strange but all becomes clear when one considers the consequences of the gratuitous, greedy deal with Beaufort and Sanderson that I highlighted at the start of the month HERE.
Thanks firstly to those kind folks who showed some appreciation for the introduction to yesterday's bearcast - praise is always welcome. I am still in a bad mood so watch out for some choice French as I discuss Cloudtag (CTAG), Starcom (STAR), ECR Minerals (ECR), Kibo Mining (KIBO), Conroy (CGNR), Iofina (IOF) - in detail - and Sunrise Resources (SRES) and its broker Belfort Securities. Watch out it is placing ahoy at Sunrise as I explain in detail. Just do the math!
Having written about the dreadful Sanderson Capital Partners loan arrangement with Eurasia Mining (EUA) yesterday (HERE), I thought it might be insightful to provide a case-study in greed from the same guys at Kibo Mining (KIBO) and what it might mean for the stock going forward.
The fourth Dragon's Den session at UK Investor show saw myself (Tom Winnifrith), Brian Kinane and Steve Moore each invest £1,000 in shares. Our choice of where to invest was ValiRx (VAL), Jubilee Platinum (JLP), Kibo Mining (KIBO) or Ariana Resources (AAU). Enjoy.
If there was an award for issuing the most RNSs in the space of a few months, then Metal Tiger (MTR) would be well up there as one of the main contenders!
John Meyer of SP Angel this morning comments on 600 Group (SIXH), Glencore (GLEN), Metminco (MNC), Obtala Resources (OBT), Kibo Mining (KIBO) and Stellar Diamonds (STEL) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Base Resources (BSE), Kefi Minerals (KEFI), Kibo Mining (KIBO) and Xtract Resources (XTR) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Beowulf Mining (BEM), Coal of Africa (CZA), Dalridian Resources (DALR), Kibo Mining (KIBO) and Tristar Resources (TSTR) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Featuring shares in Alba Mineral Resources (ALBA), Fastnet Equity (FAST), Kibo Mining (KIBO), Mariana Resources (MARL) and Strategic Minerals (SML) with share price targets for all five stocks.
Featuring shares in Audioboom (BOOM), Finnaust Mining (FAM), Fastforward Innovations (FFWD), Kibo Mining (KIBO), Octagonal (OCT) and UK Oil & Gas (UKOG) with share price targets set for all six stocks.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Amerisur (AMER), Fastjet (FJET) and Kibo Mining (KIBO) setting share price targets for all three stocks.
East Africa-focused diversified coal play Kibo Mining (KIBO) is sounding increasingly enthusiastic about its 109 million-tonne Mbeya coal-to-power project in south-west Tanzania in the wake of a cheering update on the definitive feasibility study under way on the mining side of the project. With its AIM-quoted shares at 5.38p, between last December’s 12-month high of 9.75p and a 1.17p low, the Dublin-based company hopes to produce 1.48 million tonnes of thermal coal a year as from the first quarter of 2019 ’as long as there are no other snags,’ says chief executive officer Louis Coetzee, to feed a proposed 250-350 megawatt mouth-of-mine powered station to supply Tanzania’s fuel-hungry market.
Featuring shares in Caza Oil & Gas (CAZA), Daniel Stewart (DAN), Goldplat (GDP), Kibo Mining (KIBO), Teathers Financial (TEA), W Resources (WRES)
Featuring shares of Gulf Keystone (GKP), Kibo Mining (KIBO), Pathfinder Minerals (PFP), Range Resources (RRL), Reach4Entertainment (R4E), Trinity Exploration (TRIN), together with some share price targets.
Featuring the shares of Atlas Development (ADSS), Connemara (CON), Fastnet Oil & Gas (FAST), Kibo Mining (KIBO), Octagonal (OCT), Sunrise Resources (SRES), together with some share price targets.
Entrepreneurial mining investment minnow Metal Tiger (MTR) is drawing comfort from one of its investee companies, fellow AIM counter Kibo Mining, which has reported an upbeat pre-feasibility study on its Mbeya coal-to-power project in the East African state of Tanzania. According to Kibo, the study suggests Mbeya could achieve annual revenues of $48 million (£30.8 million), with a profit margin of $24 to $27 million a year, and bring payback in between 2.6 to 3.65 years, for a capital outlay of between $38 and $73 million, according to which development route the company decides to take.
It’s great to see a mining company on AIM doing exactly what it said it would do, especially in the current climate. This morning, Kibo Mining (KIBO) delivered its latest important milestone, on schedule. The company has released the findings of Phase 2 Stage 1 of its development plan for the Mbeya Coal to Power Project in Tanzania. Based on exploiting the 109.39mt inferred and indicated resource at the Rukwa coal deposit, this represents another significant step forward for Kibo. It’s now something of a surprise to see the company’s share price trading at 4.75p. Up only 0.63p on the day, it seems likely that Kibo’s shares are held back by the general headwinds blowing a gale against the resource sector. Unperturbed, the company continues to push forward.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Daniel Stewart (DAN), Kibo Mining (KIBO), Nanoco (NANO) and set share price targets for all three.
Featuring Amur Minerals (AMUR), Beowulf Mining (BEM), Eurasia Minerals (EUA), Independent Oil & Gas (IOG), Kibo Mining (KIBO), MTI Wireless Edge (MWE)
In less combative mood than yesterday, John Meyer of SP Angel today comments on Centamin, EMED, Kibo and Blue Rock Diamonds as well as a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Four months ago I suggested that mining investment specialist Metal Tiger (MTR) was a “mouse that might roar”. Despite two decent rallies since I covered the stock, on both occasions the share price gave back the gains. Today it trades at 0.7p, slightly above my original call. For anyone who has followed Metal Tiger closely this must have been a frustrating train of events, not least because of the significant progress the company has made in realising its ambitious goals. Yes, the mining sector remains mired in the severe downturn of recent years, but Metal Tiger has already proved its incisive edge in rooting out and profiting from some of the best buying opportunities in this tough environment. I caught up with CEO Cameron Parry to hear why he believes the current market is “alive with opportunity” and what he intends to do about it.
In the first part of this exclusive interview with Kibo Mining (KIBO) CEO Louis Coetzee we discussed the company’s flagship coal project at Rukwa, investor disappointment in 2013, why Kibo did not complete the deal with EWP, the unexpected interest from other major development partners, the current status of negotiations and the technical stage the project is at. In this second part of the interview, Mr Coetzee goes on to talk about Kibo’s other flagship venture, the gold project at Imweru, as well as the reasons for last week’s placement. Shareholders are not happy with Kibo at present, but Mr Coetzee delivers candid answers to the direct questions I put to him.
Last Wednesday, Kibo Mining (KIBO) conducted a contentious £855,000 placement at 1.5p. The general mood among shareholders is pretty furious and it would have been easy to write a piece in response, blasting the company. As it happened, earlier in the week I had had a discussion with CEO Louis Coetzee about the future of the company, what happened in 2013 and Kibo’s relationship with the market. Mr Coetzee didn’t mention the placement to me when we first spoke. However, I obviously had to follow up with him to understand why Kibo had raised money again, having last been to market in July. Kibo now trades at 1.32p (last seen), valuing the company at £3.45million. The question many are asking is, is this time to bail out or hold firm?
Everyone else seems to be doing a podcast so I thought I’d do one. But unlike that soppy git on ADVFN who keeps telling folk to buy everything I am a bear by nature and this will be the BearCast. A daily look at profits warnings, what is wrong with the economy and markets and shorting opportunities. I do not mince my words. In this second edition I look at:
On March 31st this year, Kibo Mining (KIBO) raised £750,000 at 2.5p. The price of this placement was horrific, at a 42% discount to the previous close’s 65 day Moving Average (65MA) closing price. On March 28th Kibo’s 65MA closing price was 4.28p. In percentage terms, this was one of the worst recent cases of placement value destruction I have come across and there was a very strong suggestion that Kibo, and its shareholders, had been victim of blatant (and sloppy) forward selling. Forward selling is the term used to describe a version of market abuse whereby certain parties, armed with confidential “inside” information, use this to profit, by going heavily short a stock, which they know is trying to raise money. We see possible cases of forward selling of placements regularly on AIM and there is an impression that that the regulator is doing little to nothing about it. Below I have drafted an open letter to the FCA to ask them to investigate this matter.
Rumours have abounded for a while that Kibo Mining (KIBO) has been the target of a coordinated shorting campaign. Although I’ve noticed it has been problematic buying Kibo stock in volume at times, so far I haven’t seen any firm evidence to confirm whether or not there is truth to the whispers. They could just be the sour grapes of investors who put money into a cash hungry business, during the severe sectoral downturn. Long term holders are bound to feel extremely disillusioned with how this company has developed, but after today’s RNS I am going to stick my neck on the line and say the worst could be over.
On January 17th, Edenville Energy (EDL) caused outrage among its shareholders when it placed £1.4million at 0.07p. This was a greater than 50% discount and illustrates exactly the problem, which faces cash strapped junior would-be miners. Without sufficient backing, the “assets” these companies own are, to all intents and purpose, worthless. Today, Edenville has hardly helped any attempts at making a value case for this stock, as it placed again. This time it raised £250,000 at 0.06p. Further dilution, for such a small amount and at this awful price further calls into question Edenville’s viability. Oh, but hang on moment, I heard its shareholders cry, what about the Expression of Interest the company signed only nine days ago? Well...