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CF-We are nowhere near the final stages, despite your optimistic outlook on a continuing flurry of hopeful RNS`s.
Another of your shares -GCM- is 12 years behind schedule and still counting.
Come back at the end of the year and try again!
CF
We are nowhere near the final stages. You have been proved wrong on this and will be again.
Another one of your shares-GCM-is 12 years behind schedule and has still not made any progress.
Come back at the end of the year and you can start the guessing again.
GGG, as always a knowledgeable contribution.
My thoughts around this 'agreement' are that it is designed to unlock value. There are complex chains and cogs here. We are in or approaching the final stages.
Overall I see this as positive and agree with extrader that it implies we're getting closer to important de-risking / inflection points. Having said this the rns also implies these inflection points could be some time away. Hanno's timelines are up there with the most unreliable on AIM. I don't see this rns changing that view, so I don't see us moving away from the low to mid 4's until we get something of real value, and I don't mean any 'in principle' bull****. I think the market has had enough of nccl's ridiculous timelines so if we want to see a re-rate they will need to deliver an actual de-risking event. We know the most important next step is tariff approval, where I maintain my position that approval in H1 (not Q1) should be seen as a huge success.
I also noted that EPC & O&M contract agreement are included in their advisory services. These were meant to be agreed with our partner 6 months ago and don't rely on EDM. Yet another example of a wildly inaccurate timeline from Hanno. Also suggests he never knew what was required to get there...? Market seems to agree on timeline expectations so back to sleep and as ever 'it's a great time to top-up for the believers' (as we continue our gradual downward drift). GLA
This agreement will unlock serious value, in my view. These projects/ programmes are complex things. We have more updates coming.
Good luck folks!
Synergy principal Sachdeva represents AFC, has waived his £ 40kpa NED fee since 2015 and his existing financial interest appears limited to 1.75m options exerciseable at 6.25-6.5p.
I couldn't find the quantum of consultancy fees, could you say what it is, pls ?
TIA
Any professional on a retainer would expect a different fee structure to apply for intensive specialist work : my lawyer and my dentist do.
Somebody is going to make money out of the project rain, hail or shine
Hi Daisy,
(1) If you're not happy with the management (which is a fair point), then surely strengthening it is a positive.
(2) No amount of strengthening management will speed up EDM.
(3) The appointment of advisors suggests/implies that we're getting nearer to a point/points that require expertise that any prudent management will want on board. I suspect SF's involved in this.
You may not like how long things are taking - but see (2) above - and the s/p can move up or down , not necessarily for reasons connected with NCCL.
NCCL is 'high risk/high reward', so anything to reduce the risk is usually considered a positive.
If you have children, you'll be familiar with the occasional , plaintive 'Are we there yet ?'
Treating them like adults always worked for us.
They've been in bed with, and oaying a consultancy fee to Synergy simce 2016, fat lot of good its done so far, the only new thing about todays RNS is the introduction of yet more fees to pay.
Makes you wonder what the management have been up to.
Project still dragging its heels and no update from EDM.
Of course, the rampers will tell you its the last chance at this price and we are going in the right direction etc etc.
I have worked on major resource projects on which Synergy were advising. They are widely considered one of the top, gold plated, energy advisors globally. This is a very positive move - tiny NCCL engaging big hitter Synergy. Keep scooping.
Synergy Consulting is a huge organisation and should provide the impetus to make progress on the main project.
https://www.synergyconsultingifa.com/
Aman Sachdeva who is CEO of Synergy Consulting is also a non-executive director of Ncondezi Energy.
The Ncondezi Coal Power Project is noted on the Synergy Consulting web site (projects/Africa)
I just checked out Synergy Consulting. Look a decent company and no Hanno's on the board!!!!!
Things finally are going to speed up!
Oh i do hope so. I would have thought Project Advisors would have been in place now though? I know very little about the commissioning of large projects like this so forgive my lack of knowledge on timescales here.
http://www.share-talk.co.uk/announcements/rns/ncondezi-energy-limited/appointment-of-project-advisors/202103090700095611R.
This Commitment strongly indicates we are in final stages of preparation for tariff agreement. Keep the updates coming..