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Further news update:
https://africanminingbrief.com/afdb-and-mozambique-lng-area-1-project-win-multilateral-deal-of-the-year-award/
Extract:
"The project, the single largest foreign direct investment in Africa to date with a value of over US $24bn, will exploit Mozambique’s immense offshore natural gas reserves, which can potentially transform global energy markets. The African Development Bank signed an agreement for a US $400m senior loan to finance the project in July 2020."
There does not appear to be any problems obtaining the funding:
https://www.theasset.com/asia-connect/43028/jbic-joins-us894-million-loan-pact-for-mozambique-lng-project
Apologies for double post. First one dissapeared into the ether. Weak internet at moment here.
Longstop date was last moved out to 30th April 2021. Were all aware that Covid will have caused some problems but lets hope theres no more delays or investors patience will be stretched very thin and sp could suffer.
Longstop date is 30th April.
Nobodies denying that Covid will have caused delays but lets hope theres no more excuses or investors patience will really be stretched to the limit.
https://twitter.com/ComarcoGroup/status/1367009529649459200
Transhipment at sea for Fujita Corporation using Comarco 3652 barge (https://comarcogroup.com/vessels/unpowered-vessels/comarco-3652-heavy-cargo-barge/) and Eland tug (https://comarcogroup.com/vessels/powered-vessels/eland/)
https://twitter.com/amonkmonkey/status/1364570558323712001?s=21
The full year results are normally released at the end of February, so due very soon. There will hopefully have been some material progress on the RTO since the last update to report on as well.
Interesting snippet from the news release:
He confirmed that the offshore and engineering works are in progress despite the suspension of the onshore works. “Stopping for two- or three-months does not mean we can’t hit the 2024 target,” he said.
Based on the above, Comarco should be working flat out to deliver on whatever contracts they have to deliver products and services to the project.
I think our patience is being stretched to the limit on the RTO, but as I see it, the fundamentals have not changed and the completion should not be to far away now.
https://pumps-africa.com/mozambique-lng-project-on-track-total-confirms-2/
Mozambique LNG project on track, Total confirms
By
Siphiwe N. -
Feb 16, 2021
Extract:
The French oil and gas company, Total, has confirmed that the Mozambique LNG project is on track, despite security threats by Islamist terrorists.
Total Chief Executive Officer, Patrick Pouyanne said a security agreement with the government of Mozambique has been signed. The Mozambican government will now offer security in the zone where the liquefied natural gas (LNG) plants will be built.
The Mozambique LNG project will be Africa’s biggest foreign direct investment of over US $ 25 billion financed by a consortium of global energy developers and operators, led by Total alongside Mitsui, Oil India, ONGC Videsh Limited, Bharat Petroleum, PTT Exploration, as well as Mozambique’s national oil and gas company, ENH.
Thanks on behalf of I’m sure many here for your insightful comment. Please revisit with further words of wisdom at your convenience, or better still, don’t.
2 years wait for rto joke company wait forever
Do your research highlandsbull and youll see that theres 'much' more to come.
2021 will be transformational for AAAP.
Hope Comarco's future rests on something more than recent pr of transhipping Chinese ore over their jetty and a small barge with small crane doing some port dredging.
I agree and I’m very hopeful that the rto will attract lots of new money in here to drive the sp up when the real value is easier for investors to see. It seems to me the ideal time to buy in ahead of the herd so I added another 25k this morning. Good luck all
It’s taking time but coming together nicely , 2021 should a great year for the new business
SPA's signed....RTO on track...excellent news
https://www.investegate.co.uk/anglo-african-agriculture-plc--aaap-/prn/progress-on-the-proposed-rto/20210104070000P14F1/
Not sure how there can be price monitoring extensions on zero trades!
Worth a read:
https://www.africaoilandpower.com/2020/12/16/mozambican-gas-triggers-local-and-regional-investment-opportunities/
Extract:
"Mozambique’s gas boom began almost 10 years ago, with one of the largest natural gas discoveries in the past decade that unlocked 85 trillion cubic feet (Tcf) in the northeast part of the country. With subsequent offshore discoveries potentially reaching 180 Tcf, Mozambique has lit up as an investment hotspot on the continent. Moreover, projected gas revenues for the government – valued at $95 billion over 25 years – offer the ability to cultivate long-term economic diversification, job creation, skills development and industrial growth. As the global energy community eagerly awaits first production from the deep-water Rovuma Basin in 2022, the country is set to welcome local and international investors to take part in a prosperous future ahead."
Whilst the Port Loan has been extended until the end of this month, the SPA's will more than likely be signed well before then, meaning we could see confirmation in the next few working days.
From the RNS:
"AAA is pleased to announce that the parties reached an agreement on the commercial terms of the RTO, the definitive SPAs are being finalised and the agreements are expected to be signed shortly. AAA has therefore agreed to extend the Port Loan facility until 31 December 2020 in order to allow the finalisation and signing of the SPAs."
warnz - according to previous RNS releases, the RTO will transact at 10.00p per share, but that does not mean that a placing will be at that price.
Bearing in mind that the company is looking at securing equity funding from an international fund, then any further fundraise could be at a significant premium to the 10.00p RTO nominal transaction price.
Either way, I think the current share price represents excellent value for any PI.
David Lenigas
@DavidLenigas
·
2h
US$41m banking arrangement Term Sheet secured by Anglo African Agriculture PLC for Comarco Port - Positive Update on the Proposed RTO #AAAP ?
@AmonkMonkey
? ?
@ZaksTradersCafe
? Please read RNS and DYOR and seek advice. https://investegate.co.uk/anglo-african-agriculture-plc/aaap/positive-update-on-the-proposed-rto/20201215070000P5B45/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Anglo%20African%20Agriculture%20PLC%20Alert
Big MJ - me too. I guess we fell off the radar given that things have been a bit 'quiet' over the last number of months. Lets hope we LTH's get our due rewards for the years of patience!!