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I was under impression that World Bank agreed to fund the interconnector, because GE's coal tech produces emissions that satisfy World Banks very stringent emissions threshold for project funding. Are there other providers out there with coal kit providing similar low emissions?
CMEC have just signed SHA TS confirming their 60% stake. Moz want 1200MW of power and not just 300MW (as per their Integrated Power Master Plan). This where all other projects have 'fallen away'. Germany, World Bank and Norway have just reached Financial Close on an Interconnectro Line, between Tete/ Moz ('right around where our project is') and Malawai, costing $127m, where NCCLs transmission study inputted directly into that programme reaching FC and the subsequent Government tendering processes.
These are known facts. Taken a number of credible official sources.
GE had long been a increasingly lesser role here. They can be replaced and will be. This has probably been in the making for some time. China will play a much bigger role now. And they will be looking forward to it.
Just to be clear fellas I'd say that not believing the placing shares were dumped yesterday is wearing rose tinted glasses. I say this because the placing shares are held by people far closer to the company than us. If they were dumping their significant amount of shares into the market yesterday (alongside panicked PIs) the sp would have collapsed to under 3p. It would have signalled to me the project is about to implode along with the company. So I take it as somewhat reassuring there hasn't been that extra volume driving down the SP from placing holders and we bounced off support.
both your comments are always great, you're slightly Rose tinted CF and triple G is quite sceptical so it works well =D
GGG, thanks for your post. If these are not placing shares, then something needs explaining (we've not seen that explanation yet, imo). We'll just have to agree to disagree -- am sure there are others who disagree with me too - and fair enough.
Round numbers mean nothing CF. I always buy and sell in round numbers (and hold in round numbers as a consequence). On volume you are correct, however the volume that accompanies very good or very bad news is normally 10m+. This was in the bad to very bad news camp and the volume was comparatively low. Having said that I don't see 3p placing shares being churned at 3.5p when they could have been churned for weeks at 5p. These shareholders know the base sits with them. So unless they believe the company is going under, they are not going to sell their shares at a level where it's hard for them to lose. To this point, if I didn't hold 3.5m shares I'd probably be buying more right now. The project will go ahead. It's really just a matter of whether GE has thrown a spanner in the works and revised timings as a consequence. On timings, anyone who know this company also knows that timing plans are a f'ing joke so although you won't lose money at 3.5p, you may be stuck here for another year before Hanno can find his elbow. AIMHO. GLA
Certainly feels like there are some major buy orders in place. Usually, is hard to sell here at NCCL, if the market looks uncertain and volume low and unlikely to increase much. So, when MMs are prepared to take 250, 000 shares off you, even after yesterday's GE issues, it shows MMs have appetite and that are very possibly some buy orders in place.
Maybe MMs are filling big buy order for Mr. Fletcher :)
GGG, if you look at the trades yesterday, you will see quite a number of rounded sells. Additionally, the volume was still higher than has been for a while. Volume here is, traditionally ,actually quite low, by AIM standards. IMO FWIW.
Hi CF, as always I hope you're right. As for placing shares being churned, this is something I don't believe happened yesterday. The volume wasn't particularly high by historical standards, especially for the bombshell news we received. If placing shares were going into the market I'd have expected 10m+ volume and we would have dropped below 3p rather than bouncing off support. On top of this, why would someone offload their 3p shares at 3.5p when they could have done that at 5p for weeks - It doesn't make sense. I think you'll find they were PIs and that's it. I admit I looked at de-risking yesterday but could only manage quotes for 3.25-3.4p for 100k volume. Hardly worth it. Good news is those who are closer to the company didn't **** their pants and dump their stock.
Simple fact is Hanno needs to step up and deliver all the news that has been due for some time this month. If he breaks his timings yet again, in this environment, with the recent bombshell, then we'll certainly be testing our 3.25p support. He needs to deliver!
Just checked, barely able to buy, but can sell up to 250, 000 shares. For that after the GE issue?!
MMs now collecting shares ahead of news, knowing that we definitely have positive news lined up with Historic Costs, but also probably something significant to update re: GE
NT on buying is really interesting, especially after a wedge-load of placing shares were churned into the market yesterday.
...but then market knows major news on very near horizon.
Lol, it's like trading has halted, last trade I can see was at 10:42am... and still NT to buy even £10 worth :/
Combination of things going on, but am guessing there are some buy orders in now. MMs will have allowed some buying but will have shut up shop quickly to fill orders. We know there is significant news on horizon. Historic Costs due, as well as news about what next in light of GE (as Bladey says, a situation easily recifiable). Plus, we have Interims due (guessing Interims will be put back a bit to allow confirmation of other matters).
My £10k buys didn't move the share price despite the very low volume :(
Was looking to buy some, as I was in here a while ago and now sp seems a bit too low for reasons that are easily rectifiable ....but, seems to be NT on ii, and has been for the last hour.
Too much momentum behind this to fail, so just took two £5k top ups. Cant see much downside from here.