Kibo Mining – Is this securities fraud or just plain old shoddy AIM behaviour?
By Cynical Bear | Saturday 30 June 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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.
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