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Edging nearer to news.
- SHA TS next BIG news: where they "near final draft": is "next major news item"
- Where they "quite a far way down the Historical Costs development cost audit"
IMO Given Hanno gave away the reason for the delay (being that new guy at EDM), personally, do believe we are very considerably down the road of these two pieces of news, with Hanno saying the next piece of news is very likely to be SHA TS. This is massive, as we get confirmation of the equity stakes - how much of the project they each want - at this stage. Massive committment to project.
Then we have Historic costs, allowing us to better value the company, at last.
Good luck all!
On SHA TS, Hanno says:
"...where we’re at a near final draft of the Shareholders Agreement Term Sheet, which I think will be the next major news item. "
And:
"... It will very clearly outline CMECs role, in the project, the equity position they are looking to take."
SHA TS is a biggie and it's the next piece of news. My guess is we hear this month, may be within the next two weeks. Whatever % they take, it will be a massive confirmation of commitment to the project. I also continue to believe there's more to be read between the lines, here.
Good luck folks!
had to nibble another 45k shares - sounds like we got a good couple of months ahead
Makes the current market cap here seem crazy.
Feeling positive, very positive!
Good luck all!!
The key takeaways for me:
1. “…other power plants that were looking to be developed at the time we last did the study, have fallen away.”
This is great for NCCL!
2. Historic costs target of $17million to $25million is just for the power plant and doesn’t include the Mine.
Got to be looking at $30million or more, for historic development costs for both plant and mine. Clues are there!!
3. On SHA TS:
“It will very clearly outline CMECs role, in the project, the equity position they are looking to take…”
From Hanno says,
“we’re at a near final draft of the Shareholders Agreement Term Sheet, which I think will be the next major news item.”
So, next BIG piece is news it is!
Great Proactive Interview from Hanno.
Took the opportunity to do some transcription work. Looking extremely positive for me!
---------------
“…and in addition to that, other power plants that were looking to be developed at the time we last did the study, have fallen away. So, it has all impacted how we integrate into the grid, and very, important that we work closely with EDM, to gain access to proprietary information that they have, to complete that study.
Regarding the Tariff, they are “...running various scenarios and stress tests…” with “specialist teams within EDM”
“On top of this, we have the process with our strategic partners, in particular, CMEC (China Machinery Corporation), where we’re at a near final draft of the Shareholders Agreement Term Sheet, which I think will be the next major news item. And we are, I think, quite a far way down the historical costs development cost audit. Just to give perspective, we’re doing an audit of the last ten years, of development costs on the project, for both the mine and the power plant. It’s definitely been a bit more intensive, than the previous audit we did. We’re looking at pretty much every invoice incurred, regardless of size. It’s been a massive undertaking by our accounts team, but that’s largely done. And hopefully, that report will be dine in the coming weeks, then we can submit it for review of our partners.”
“Finally, we are at various stages of the EPC agreement, on both the mine, the plant and the transmission line, and we hope to have those signed in the coming, well, if not this month, then probably next month. But it’s progressing well.”
“Some good news-flow, which we will release to the market as and when we achieve those milestones…”
“We did have a new CEO of EDM, a few weeks back. That did require, sort of a reintroduction of the project and reestablishment of the processes and procedures we had in place, for the work programme we had targeted, but that’s all done and dusted.”
On the historic costs:
“We have a target figure. At the moment, we have, previously when did this work, on the power plant, we were looking at $17milllion. There has been some expenditure since then, where we’re looking at somewhere between $17 and $25million, is the target, at the moment. And again, we’re quite a way through that and feeling confident we’ll be able to achieve that.”
Shareholder Agreement Term Sheet
“…biggest significance is on the Chinese side. This will be seen as a milestone for our partners to demonstrate both internally within their own fairly large organisations, as well as with the Chinese and Mozambican governments, that the project is progressing. It will very clearly outline CMECs role, in the project, the equity position they are looking to take, how they will be managing the project through the construction and operation phase of the project. And also how the project will be governed between Ncondezi and CMEC, as the two major shareholde