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They need to raise ASAP and as usual raises are done at a discount.
Can they find an institution daft enough to provide the funding at a 0.5p price level or will they need to go lower?
Or will it be history repeating?
Another directors loan that ensures they get any future assets?
Correctiion:
Market cap now £4m, with 5000MW on the table and already talking to off-takers! This has got to be time to get getting in/ adding and holding, with only a month to go before Completed FS news.
Shareholder; Shares; Percentage held of stock held.
Scott Fletcher; 81,823,020 shares; 19.92%
Africa Finance Corporation; 54,988,520; 13.39%
Michael Haworth; 16,759,462; 4.08%
Mrs & Mr Weatherhead; 14,183,559; 3.45%
Total percentage of stick held by these four parties: 40.84%
https://www.ncondezienergy.com/significant-shareholders/
Then add quite a number of LTHs, with sizeable amounts (i.e. millions held by each).
My guess is, c.70% of the stock is held in tight hands. Free float of c.30%.
Market cap now below £5m, with 5000MW on the table and already talking to off-takers! This has got to be time to get getting in/ adding and holding, with only a month to go before Completed FS news.
Note: Polenergia, is an Institutional investor – Poland’s largest private energy company – held c.7% before exiting coal. They may well be coming back to the table, given the Grid Scale Solar Project!
Scott Fletcher has 81,823,020 shares, constituting 19.92% stock. He is a multi-millionaire and is fully committed. AM comfortable that, between them, they will sort a loan.
jdt, that section of the quote is standard. An investor of your calibre knows this already. All forward looking statement around such things as fnances, transactions and timelines etc have to be accompanied with this. What we know for sure is tha company has a demonstrable track record of securing support from Board in the form of loans and getting further support in the restructuring of such loans, if/ when the occasion arises.
We had better hope they have something up their sleeve with regards to funding. Being a month away from running out of cash is not a good place to be and this statement after your quote CF73 is a little worrying. Currently, this isn't the kind of market you want to be going cap in had asking for funding when you've made it clear you're almost out of cash....
"At present there are no binding agreements in place and there can be no certainty as to the Group's ability to raise additional funding or the terms on which such financing may be available."
A trusted LTH posted elsewhere, this segment from the RNS
“The Board is confident a funding solution will be finalised as the Company has a successful track record securing funding through debt and equity from its supportive Board, management team and shareholders [...]”
Looking like the fall as usual was way overdone. I still think the 4 Million plus bought in two trades yesterday was a set of Buys by 1 party. They were not sells. I am certain of it. So What?
If someone is chucking near £75k at this then they are open for more and probably are much closer to the detail, than fleshed out in the RNS releases. Could very well pick up steam now over the coming days with further news promised in a few weeks. I added a few more this morning.
CF73 - The solar project is all well and good with some okay economics relative to Mcap.
However, let’s address the elephant in the room, this statement:
“Current cash position provides a working capital runway to the end of October 2022. The Company needs, and intends to secure, additional funding during October 2022, with the Second Tranche being one short term option. Further announcements will be made in relation to funding as required”
200k in the bank, only enough funding for 1 month and an explicit statement of the company “needs” to secure funding over the next 4 weeks. As soon as you say need….that’s alarm bells when Hanno is involved. It’s running on fumes this company and we’re always the ones who take the hit with dilution after dilution!
Also liked this bit
"Like this also
"The Solar Project will look to supply power into the Mozambican northern grid, which is a generation hub for Mozambique and the broader southern African region. Discussions with potential off-takers for the project's power have already started and we are reassured by the calibre of the parties engaging with us."
Good luck folks!
The drop makes for great point to be getting and/ or adding.
Good luck folks!
On the solar project and the further FS work to October:
"The Study is expected to be completed at the end of October 2022, targeting a market leading power tariff offering for the region. We believe that should it proceed, the Solar Project would be one of the largest solar PV projects undertaken in Mozambique to date and expect the project to be uniquely positioned in the market, able to scale quickly and take advantage of economies of scale. In addition, we expect the Solar Project to deliver a low cost accelerated development programme to financial close, achievable through leveraging existing advanced stage development work from the Company's Ncondezi Project. Planning for success, there is a clear roadmap for delivery of power onto the Mozambican Grid in 2024 which is exciting."
I've just been doing an audit, and from what I can tell, all trades over £2000 today (bar one I think) were sells. Based on time of trade. I am a long term holder and have not sold anything, but the buys are simply not there. Anyone saying different is either misled or spouting incorrect info for other reasons. I wish it were true, but no.
No, the 2.9 was a sell. The smaller one was a buy.
Or Delayed from Yesterday. Either way Both Buys:)
Both buys for certain by Time Stamp .. Also n o way MMs would take that quantity in at that price this afternoon. For NCCL those are Chunky buys and not play money size. Lets hope these Large Buyers continue
That was an excellent RNS. It was a heads-up in what is to come. The current market cap sits below £5m. When we looking at potential of 5000MW and more; when we have very good numbers on the 300MW alone (and the scale up to 5000MW!); when we are already talking to offtakers; when some of the previous large institutional investors are expected to return to the table; where the market is HUGE, proven and waiting; where sloar presents low risk, high confidence and investaibility; where the 5000MW + is approx 3 x larger than the proposed 1800MW Coal Plant.
26% drop in SP on the back of a good RNS, in my view. Unwarranted. However, for those that can, is a great opportunity to be loading up/ adding and holding.
Good luck folks!
Ridiculous fall. I added More
FFS, took a position here yesterday.. now it looks like it’s being shorted, irritating.
Think I must have read a different RNS to those selling. I see it as an opportunity to buy more. Bizarre times.
1,000,000 Delayed trade showing. Time Stamp indicates it was an earlier buy. So Volume is up, let the day progress and the News sink in. Mr Fletcher could be back in the Market.
There's me thinking would have got into the black as bought last year at its highest but no the bloody market makers doing there best too keep a lid on it
Coming through
Is clear there are some BIG BUY Orders in, from parties that have deep pockets and sway with brokers/ MMs. Can't buy in quantity but can sell big.
Soaking up big sells but not allowing buying in quantity