UK 02:41 Sunday, 25 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
I have written to the Oxymorons at AIM Regulation, cc’ing in London’s most corpulent, and arguably most useless, Nomad Roland “fatty” Cornish about recent events at Kibo Energy (KIBO), the 20 June placing and the looming share suspension.
Just when you thought that things could not get any worse at Kibo Energy (KIBO) they do. The shares will be suspended on 1 July as this nothingburger of a company cannot get its calendar 2023 annual report out on time. WTF?
A couple of weeks ago shares in Kibo Energy (KIBO) were 0.03p. Cue a stack of forward selling and then came a £500,000 placing at 0.015p as a dream team led by disgraced James Parsons, PR genius Steffi and the owner of Brokerman Dan’s website came on board. After I exposed the true CVs, AIM Regulation quickly decided they did not like that so they “were walked” and the placing was pulled. Last week came another placing raising just £340,000 at just 0.01p…
I am sure that London’s top nomad Mr Roland “fatty” Cornish has thoroughly vetted the proposed new directors at Kibo Mining (KIBO) and so its proposed refinancing and transformation into an oil & gas play, albeit one that is still technically insolvent, will go smoothly. Mr Cornish is noted not only for his daily 12 course luncheons but also for his rigorous due diligence done on folks like Rob Terry at Daniel Stewart, Jonny Hon and of course that chap from New World Oil & Gas who has deemed a flight risk by a Texas court.
Kibo Energy (KIBO) has announced a “corporate restructuring and reposition” which will still see it insolvent and, as a bonus, James Parsons has joined the board. Natch the release contains one obvious lie and anyone investing is bonkers.
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.
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.
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?
