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RNS out. Project update. More delays. Groan. Blah etc.
Fair play G_G_G. Hopefully things will get a lot better soon!
Hi Chris, as you'll be able to see from my posting I've been buying and selling in 3's, 4's and 5's over the past year or so and estimate 4.2p as my average. I've held between 2.5-3.5m shares over this time. Overall down, but not like many on here. I haven't been buying in the past few months. Last purchase was January when Hanno was leading his shareholders to believe we'd be getting news in February. I expected a delay until March / April, but for these delayed timings to come and go and Hanno not to provide any updates to his shareholders for a couple of months is incredibly poor. He needs to front up and give us some news.
G_G_G "Fortunately I've averaged down to around 4.2p"
You been buying into the weakness or was this prior to this year?
Clearly SF who has the inside track has a good idea it's going ahead. Now I read an earlier post suggesting he can afford to lose it .The rich dont work that way and you dont hold like him on a whim.Here is hoping for something substantial soon this share brings a whole new meaning to LTH.
That's what I'm counting on Robbo. Any +ve news short of tariff agreement and I'll start offloading. Tbh even tariff agreement and I'll take the side door, just at a higher rate. Far better investments out there with ceo's who have earned their stripes and understand their responsibilities to shareholders. To be still waiting for any form of update on the long list of things we're due is far too sloppy for me to stomach. Hopefully I can make a little profit on the way out the door with a lesson learnt. GLA
You still need good news to sell that amount of shares ggg and if we get good news you wont be selling just to break even.
So much for news this week. Maybe next week, next quarter, next year... It's ridiculous so many key milestones have drifted by and the company doesn't feel it necessary to provide an update on missed guidance, let alone provide new guidance. At this rate we'll be lucky to get anything from Hanno in H1, and then it will probably be another update about his brother's project. The only suggestion of news has come from a twitter group. Utterly pathetic investor mgt, and to think these guys talked about improved investor comms at the beginning of the year. We're meant to be waiting on tariff approval (our biggest milestone in many regards), and we're continuing to go backwards from one of the lowest levels we've seen in the past 5 years. And before anyone says 'they're in sensitive discussions so can't provide any updates', they'll need to explain how SF could pick up 10m shares and how such sensitive news didn't bar him from being able to purchase. Either nothing is happening, or something is happening that only they get to know and act upon. Either way it's a joke. Unless the next piece of news replaces my lack of confidence and faith in Hanno I'll be exiting. Question is whether I'll get my money back. Fortunately I've averaged down to around 4.2p so not as much needed for me to get out compared to many lths. Although I have a few million shares so could be hard going given the lack of liquidity in this stock (because of a lack of news). Time for Hanno to put on his big boy pants and do his bloody job!
So much for news this week. Maybe next week, next quarter, next year... It's ridiculous so many key milestones have drifted by and the company doesn't feel it necessary to provide an update on missed guidance, let alone provide new guidance. At this rate we'll be lucky to get anything from Hanno in H1, and then it will probably be another update about his brother's project. The only suggestion of news has come from a twitter group. Utterly pathetic investor mgt, and to think these guys talked about improved investor comms at the beginning of the year. We're meant to be waiting on tariff approval (our biggest milestone in many regards), and we're continuing to go backwards from one of the lowest levels we've seen in the past 5 years. And before anyone says 'they're in sensitive discussions so can't provide any updates', they'll need to explain how SF could pick up 10m shares and how such sensitive news didn't bar him from being able to purchase. Either nothing is happening, or something is happening that only they get to know and act upon. Either way it's a joke. Unless the next piece of news replaces my lack of confidence and faith in Hanno I'll be exiting. Question is whether I'll get my money back. Fortunately I've averaged down to around 4.2p so not as much needed for me to get out compared to many lths. Although I have a few million shares so could be hard going given the lack of liquidity in this stock (because of a lack of news). Time for Hanno to put on his big boy pants and do his bloody job!
First of all you can't bail out fellas. Anyone tried selling the past month or so? You can't even get away 50k. That's how illiquid this share has become. Whether we like it or not we're stuck in a company that cannot hit self-imposed timings, and doesn't feel it necessary to even acknowledge the many lengthy delays to their shareholders.
As for things happening they cannot comment on, what a load of horse****. Hanno can and always has been able to let his investors know that everything is still on track and provide future guidance. Why does SF feel so confident he's willing to buy another 10m shares? Does he have a right to know things the market doesn't? Pretty sure that's against the rules. Also, the tariff is not being held up by 'other things'. It was originally meant to be approved over 12 months ago according to Hanno. Then over 3 months ago post Covid and transmission studies being presented. So the approval never depended on transmission lines being awarded or any other thing for that matter. You don't think the key milestone unlocking the main project (what we've invested in) warrants some form of update when it's 3 months over-due on the latest guidance? What's happened with our partner doing core drills? What's happened with the EPC & O&M contracts that were due over 6 months ago...? Hanno needs to get his **** together and start engaging with shareholders on any of the long list of things he hasn't delivered according to the timelines he has provided. A simple explanation of the delays and what to expect is the least he can do. No more excuses for his complete lack of engagement unless of course people view the shady director's loan to his brother's solar project counts as engagement. I hope Hanno is reading this given some of his greatest defenders on this board are also starting to lose patience. So much for increased shareholder engagement. Another one of those empty promises. This company is starting to look more and more like a typical Aim joke, run by 'somebody's son' who likes to make a lot of claims that he rarely delivers on time and in full.
Apologies for grammar errors, should have read:
That’s more like it chrishutch!
Ultimately we need patience, the alternative is to bail out that would for many, including me would result in a substantial loss.
I firmly believe that the risk/ reward profile at this level provides good value. Pity for me and many others is that we have already committed substantial sums and won’t invest further until there is some reassurance from Hanno.
There will be a sound rationale for lack of messaging, as Scott F committed to being more communicative and improving alignment with shareholders. I look forward to understanding the rationale for no comms, like you all.
Keep well and keep the faith
That’s more like it chrishutch!
Ultimately we need patience, the alternative is to bail out that would for many, including me a substantial loss.
I firmly believe that the risk/ reward profile at this level provides good value. Pity for me and many others is that we have already committed substantial sums and won’t invest further until there is some reassurance from Hanno.
They will be a sound rationale for lack of messaging, as Scott F committed to being more communicative and improving alignment with shareholders. I look forard to understanding why like you all.
Keep well and keep the faith
Haha, G_G_G, I was having an off day.
I still fully support the company and my investment here, but I can be objective too, I appreciate that discussions are sensitive and that as a shareholder it is not always possible to get the information we want at the time we want but... I also felt like having a moan too.
It is frustratingly cheap down here! - The sentiment will massively improve as and when the share price starts moving up and hopefully we will get a big increase in news flow soon.
Haha, G_G_G, I was having an off day.
I still fully support the company and my investment here, but I can be objective too, I appreciate that discussions are sensitive and that as a shareholder it is not always possible to get the information we want at the time we want but... I also felt like having a moan too.
It is frustratingly cheap down here! - The sentiment will massively improve as and when the share price starts moving up and hopefully we will get an update over the next week or so.
A lot going on behind the scenes, that needs to be aligned and is happening. And yes, Scott holding and adding is a sign of confidence that this is moving in the right direction (they cannot wait forever, as there are number of key agreements in place already and various processes - i.e. transmission - underway too). We getting nearer to major news all the time.
I've been here over three years. Happy to wait that bit longer :-)
The only "glimmer" of hope is that Scotty knows what he is doing by his share purchase recently.
Chris, I never thought I'd read a post like this given you are normally unwavering in your support for Hanno. I think if you've managed to get to this level of frustration then it clearly points to Hanno needing to pull his finger out and start behaving like a professional ceo. Investor comms are in his control and a key part of his job. Hanno has absolutely failed on this measure for some time. Sadly his performance is made even worse by the fact the only comms provided in the past few months have been an opaque director's loan to his brother's company. Hanno needs to do his f'ing job and give his investors an update on the many milestones that have been missed according to the timelines he has provided. Some forward guidance would help as well. When was the last time he provided a list of remaining milestones and timings...? Is this too much to ask of our ceo?
CF73 & chrishutch
Excellent analysis. Hopefully the award of the transmission contract this month will provide the necessary catalyst.
Hanno Pengilly took the role of CEO on the 9th Oct 2019 - the share price high on the day was 5.40p & then continued to rally to 6p in 10 days.
"I'm excited to be stepping into the role of CEO which represents a great opportunity to lead the Company and create value for shareholders."
Since taking the role of CEO the company has gone through several milestones and is very slowly turning NCCL into something quite spectacular.....so you might be thinking why is the SP 45-50% lower than when he took over?
Well in my view, this is not because of the progress the company is making. It is simply because NCCL do not understand they are a listed company, they do not understand they are owned by shareholders, they don't listen to their own PR, they can’t write an RNS without errors, they have a habit of predicting deadlines that are not only inaccurate but pulled out of thin air and then missing them. To compound these errors NCCL don't give any feed back to shareholders when they miss the made up deadlines and continually do not listen to shareholders or give the impression shareholders are important.
Even when shareholders (me, amongst others) communicate repeatedly that the market are confused and need clarification as to what is happening - they remain quiet and give the impression that they are not worried about the share price. Then we had the Christmas PR drive with the promise of improved coms/monthly shareholder meetings etc. none of which happened.
We had Scott appointed to the board as he "is uniquely placed to represent investors' interests at Board level". He has not said one thing to shareholders since the Christmas PR drive, it is disappointing because we know Scott believes in the company and his recent 10 million buy indicates this but he is also silent. So we are left wondering what if anything, he knows, that would cause him to increase his holding by such a sizeable sum, that none of us know.
This has all (again in my view) caused investors to sadly move on to other investment opportunities, perhaps ones with less potential but where directors understand the market they are listed on and can communicate with shareholders. Those of us who held are considerably down on our investment in Hanno and Ncondezi.
I remain a holder as I think I will eventually see a decent return from my holdings at NCCL but I am disappointed, frustrated, fed up and more than anything annoyed with myself. I completely get why other investors have moved on. It has been a poor effort by the team in relation to coms this year.
I am led to believe that we will get an update this week or next but lets face it, this is most probably pulled out of thin air.
COME ON NCCL WE DESERVE BETTER COMS!
Current SP 3.30p 2021