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I think they have to Lancaster. I mean we're due to run out of money in a month so that in itself warrants an update very soon. But it's been far too long since any reference to the main project, be it EPC, early works program, development program, tariff approval... Completely bonkers we're in this place and waiting on an update.
Totally agree GGG and BENJAN1.
Given the very significant fall in the share price since January, would it be prudent for the company to provide a news release stating that they are ‘not aware of any reason’ for the drop?
It’s astonishing that we haven’t received any meaningful news of progress on the tariff deal.
Whilst I appreciate that the Board don’t want to make any further commitments on timescales when the negotiations are at a sensitive stage and not fully within their control, however silence is killing the share price, liquidity of the stock and undermining the trust of the shareholders.
I’m hopeful this will be addressed soon, otherwise the integrity and professionalism of those involved will be shot.
I’ve been here before with similar investments, some have delivered multiples, others have failed. What keeps me holding my substantial investment here is a genuine belief that the project will happen and we’ll get taken out at a much higher level than current price.
At these times, I always focus on the underlying business/ asset base rather than the sp. It usually keeps me sane and prevents bailing early, it’s tough now to hold given the paper losses we’re all sitting on.
Has anyone contacted the PR to establish if any announcements are planned and to convey shareholder concerns about the communications?
Agree it has become quite ridiculous Gary. Fine for timings to slip if you're giving regular updates to your shareholder base and providing sound reasoning as to why things are months / quarters overdue. But I'm truly amazed the bod think it's ok to leave their shareholders in the dark for so long with absolutely no clarity on any number of milestones for the main project that are 6 months and more delayed. This doesn't even take into account the funding concern, which is becoming more of a concern with every week that drifts past. And then there's the solar project, which is shrouded in mystery. I can only hope that Hanno and SF know we are within touching distance of the prize and our frustrations will soon be rescued by the rubber stamp of the tariff in the coming days. But even then, they should have been regularly communicating positive statements to the market that all is on track. The share price for a company like this should never jump by 200-300% as it suggests things are completely unexpected and unknown to the market. This is a project with many milestones that have been chipped away at over many years, not some micro cap drilling a high impact wild cat well that's just hit 100m barrels of oil. They need to give us something, and soon. Our mcap is the lowest it has ever been, which is crazy to think. All in all it has been a very poor way to manage shareholder expectations, which is clearly reflected in the share price. But maybe next week, it's only August after all...
Run, not rub
Absolutely zero interest. What a shambolic way to rub a company
If there WERE anything happening, presumably he couldn't...
That's that damned confirmation bias kicking in, again.
Really must get it seen to.
;->
Maybe the master plan is to let it drift lower so the management can buy us all out then announce the deal. My god, I’ve turned into a cynical twat!!!!
Even more worrying is that SF has stopped buying even at these basement prices!
Indeed G_G_G. Even my patience and faith is being severely tested... I still believe this will happen, but the communications with the shareholders has been v poor.
I anticipated a more professional approach following the NED appointment of Scott Fletcher. Unfortunately for whatever reason, this hasn’t been executed well at all.
Like most LTH’s, I will continue to hold, but unwilling to add more until there is clarity on the tariff.
I think everyone is sitting back and waiting to see whether Hanno can deliver some actual news. Tiny trades pulling us up and down by 10%. No new investors willing to invest, and most holders having waited so long and under-water by so much, they can't be bothered trying to sell to a market that isn't interested. I mean just 1m shares would likely take us to 2p.
The fact the market knows an update is well overdue and to be expected in the next week or so, and our MCAP is at an all-time low, says everything one needs to know about the way things have been, and are being handled. I cant even confidently say 'good entry point for new investors' because the simple reality is we don't have any idea about anything at the moment. There's the opaque solar arm of the business, which I challenge anyone on here to explain what is going on in that area, be it financing, project economics, company structure and ownership... f'ing anything. Then we have what everyone on here invested in over the years, which although we're meant to be nearing the biggest milestone to date, all we're getting from Hanno is broken timelines and 'discussions are on-going and sensitive in nature'. Let's not even mention EPC & O&M contracts, or the early works program. Then we have our funding concern. We're meant to run out of cash in September ffs and still nothing on this front. I mean where does one start and end with how things are being managed. The entire company has been sucked into a vortex of vagueness. We've all been very patient as milestones have slipped by the week, month, quarter, half year, and year. We've all been very patient as money has gone into a solar arm of the business that we still know very little about. It's time now for Hanno and SF to tell us wtf is happening with the company and our money. To say they owe it to us is a monumental understatement.
Sell limits coming down too this morning. Only 200k at 2.502p. Lack of appetite at the moment. This could drop further today on weakness.
I agree GGG, the company should be able to give an update on Tariff talks rather than just conveniently stating that confidential talks continue to be positive.
The company could give dates and venues of meetings, who attended, the agenda and date of next meeting.
If any decision taken at meetings was price sensitive it would need to be reported.
I am still waiting to hear a report on the accelerated development work to be carried out on the Project funded by the $1.8m Accelerated Development Budget provided by CMEC.
Thanks hammerphil. Good to see some 'official' progress being made on the interconnector line. Not sure why nccl aren't tweeting about this news? They've spoken about the interconnector line in the past so there's nothing wrong with them doing so again. But more importantly it's directly related to our project. Why not at least post a tweet speaking of how good it is to see the Moz government showing further commitment to their 'energy for all' program...?
Either way I'm expecting an update by the end of this week or Monday next week given another month will have gone by. The company cannot be this far overdue on news and not update investors on progress. The end of this month means the EPC contract is 1.5 months beyond when it was 'near final form', and well beyond 6 months overdue on original timings. And the tariff will be 6 months overdue. Ridiculous to think we haven't even received any formal feedback on this milestone when approval was expected 6 months ago. GLA
Fingers crossed.
In the meantime, EUR4.6M contract award on the Moz-Mal interconnector: https://projects.worldbank.org/en/projects-operations/procurement-detail/OP00139278
Would be nice to get some wouldn't it. Too much to ask after months of waiting with nothing other than a few anchorless tweets on coal fired energy from nccl? Maybe this week (he says yet again).