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More importantly it looks like it's safe to start adding again, seller that's been holding it back for so long seems to be done.
Moz government won't be wanting a stake, they will however be happy about the tax they are paid from the profits
I'm sure that the ongoing discussions between all parties will finalise nccl's final stake in the project.
I assume that the Moz. goverment would want some kind of stake.
D.
For the life in me I still cannot see why GE and CMEC would want little NCCL holding 40% of this project.
I suspect when the dust settles NCCL will not own any of the CtP project and we will be focusing on the GridX projects, albeit with a bucket full of cash in the bank.
Just my own thoughts of course.
The £60m will be ringfenced and used as part of the money toward capex at Financial close. But the company is still essential getting £60m......
(Clearly the amount is an estimation and we need to wait for tariff to be agreed before it's confirmed)
But sandcrab the company is still getting the backcosts irrelevant of whether it's being used for capex funding or not.
I imagine NCCL will fund as much of the 40% as they can with the historical costs and then sell the remaining %
Vonccf92
Sandcrab is correct, any money due to nccl will be credited against our share of the project.
It's pretty impossible to work out what our final costs for the project will be.
I can see us selling on some of our 40% commitment in the project I seem to remember Hanno saying in one of his podcasts "that both our current institutional investers were keen to get invoved"
They're already involved through their nccl holding so I don't know why he would have said get involved.
Bit of a wait yet for the big rns surely it cannot be a damp squid like the jda.
D.
I agree that the GBP 60m may not return to shareholder immediately and in fact I support it be used for the equity of the project. The key however is revenue certainty - once a project has this agreed, the value of the project increases 3-4x. Just gotta wait unfortunately
Just dealing with fake news
Sandcrab, bet you're fun at parties
You will not be receiving £60m. This will be taken into account when computing the company's overall liability for finance next Summer and the extent of any dilution
There are no horses as good as nccl worth backing on AIM. It's cheap as chips.
Upon tarrif agreement we should receive in the region on £60m (that's a double bag right there from current MCAP)
Then add on top of that the fact we are holding 40% of a multi billion dollar project.
It's a blooming steal at this price.
Still have a hefty holding but as I've already said, sold a load at previous RNS, and as predicted SP has bombed. Hoping to buy back in but unfortunately invested "winnings" on another horse...Just hope it new purchase comes in before inevitable rise into news. Would be filling my boots now...If I could.... Good long term story... Should have left well alone...GLA...