Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Started: Potter25, 27 Jan 2023 07:33
Last post: Bluepanther, 7 Mar 2023 20:45
Cheers Glen, thought so.
Hi Blue - new ticker is SGN
Hi Guys, have the company now changed the name, NCCL appears to have disappeared off ADVFN?
NEWS RELEASE
Notice of EGM – Change of Name – Solgenics Limited
13 February 2023: Ncondezi Energy Limited (“Ncondezi” or the “Company”) (AIM:NCCL) the African power
development company focused on renewable energy solutions, provides notice of an Extraordinary General
Meeting (“EGM”) of Ncondezi Energy Limited to be held at 2.00 p.m. SAST (12.00 p.m.GMT) at The Silo Hotel,
Silo Square, V&A Waterfront, Cape Town, 8001, South Africa on 28 February 2023.
At the EGM, the Company is seeking shareholder approval to change its name to Solgenics Limited, reflecting
the Company’s transition into a dedicated renewable energy development company.
Notice convening the EGM is being posted today to shareholders of the Company and will shortly be available
on the Company's website at http://www.ncondezienergy.com/general-meetings.aspx.
The Company’s primary focus is the delivery of its 300MW solar PV plus BESS renewable energy project in
the Tete Province in northern Mozambique (the “Tete Solar Project”), and has delivered material de risking
milestones over the last 2 months, including:
• Completion of the Tete Solar Project Feasibility Study
• Completion of Environmental and Social Impact Assessment Red Flag Review
• Completion of Transmission Integration Study and receipt of approval from state power utility
Electricidade de Moçambique (“EDM”)
• Receipt of exclusive use land rights for generation of solar energy at the proposed project site
Commenting on the proposed name change, Hanno Pengilly, CEO, said: “The proposed name change to
Solgenics reflects our updated mission to develop innovative power supply solutions for affordable and reliable
electricity in Africa, utilising the latest sustainable technologies. We will do this by focusing on the development
of grid scale renewable energy projects in the southern African region, predominantly using solar and battery
storage solutions.
Solgenics also provides a clear signal to investors, Governments and potential offtake partners that we are
committed to developing clean, green power projects.
To further support the transition, the Company has launched an ESG audit which will review the Company’s
exposure to environmental, social and governance risks and set out a realistic action plan to demonstrate that
the Company understands the issues and the opportunities it faces and has the correct systems, policies and
practices in place to manage ESG effectively.
Our flagship Tete Solar Project continues to make rapid progress and will support Mozambique’s ambition to
be a regional leader in green energy transition. We continue to progress offtake discussions and are reviewing
additional development work streams which can be launched in parallel to ensure that we maintain
development momentum. We look forward to providing further updates in the near future.”
The Company continues to recognise the importance of ongoing engagement with shareholders and will ho
NEWS RELEASE
Convertible Loan Fully Converted
6 February 2023: Ncondezi Energy Limited (“Ncondezi” or the “Company”) (AIM:NCCL) announces that
following the previous announcements on 16 and 17 January 2023, all convertible loan and interest will be
converted into ordinary shares of no par value (“Ordinary Shares”) in the Company according to the terms of
the convertible loan agreement.
An aggregate of 75,787,027 Ordinary Shares will be issued and application will be made for the admission of
the Ordinary Shares to trading on AIM (“Admission”), with Admission expected to take place on or around 9
February 2023. The Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares of
the Company.
Of the new shares to be issued, 3,913,087 will be issued to Company Chairman, Michael Haworth, 15,213,515
will be issued to Non-Executive Director, Scott Fletcher, and 53,580,573 will be issued to Seritza Limited
(“Seritza”), a private company owned by a trust of which Chief Executive Officer of Ncondezi, Hanno Pengilly,
is a potential beneficiary.
The Company’s independent director, Aman Sachdeva, assessed the Company’s rights to exclude up to 50%
of the amount to be converted through an immediate cash redemption, and considers, having consulted with
the Company’s advisers, that exercising this right is not in the best interest of Company, particularly given that
the Company’s available capital is committed to its existing solar power development programme.
In addition to the convertible loan and interest conversion, the Company will issue a further 3,079,852 shares
and transfer the 2,869,840 shares currently held in Treasury, in lieu of deferred fees totalling £71,767 to certain
contractors and consultants to the Company, as previously announced on 22 November 2022, plus a further
£15,000 in deferred fees due to certain consultants.
Following the conversion of the convertible loan and issue of new shares, Chairman, Michael Haworth, will be
beneficially interested in 23,936,549 Ordinary Shares, representing 4.23 per cent of the Company’s enlarged
issued share capital. Non Executive Director, Scott Fletcher, will be beneficially interested in 122,979,090
Ordinary Shares representing 21.71 per cent of the Company’s enlarged issued share capital. Seritza will be
beneficially interested in 53,580,573 Ordinary Shares, representing 9.46 per cent of the Company’s enlarged
issued share capital. In addition, Hanno Pengilly is beneficially interested in 3,531,776 Ordinary Shares,
representing 0.62 per cent of the Company’s enlarge issued share capital.
Following Admission, the Company's issued share capital will comprise of 566,501,146 Ordinary Shares. No
Ordinary Shares will be held in treasury.
Therefore the number of Ordinary Shares in issue carrying voting rights will be 566,501,146 and this figure
may be used as the denominator for the calculations by which they will determine if they are required to notif
Started: CF73, 18 Jan 2023 07:48
Last post: Lucky8s, 25 Jan 2023 19:30
Slowly moving up with more buys , definitely more activity going on,that’s a lot more positive than a few months ago , what do you all think will Ncon get passed last years high
#NCCL Increasing % of stock in very tight hands, with many LTHs, all holding/ adding.
I would say, a minimum of 70% of the company's stock in tight if not very tight hands. Recent conversaiotn and buying on open market massive signal following Mozambique's EDM (national Electricity utility company) approval of Transmission Route for company's 300MW #solar project, the largest proposed in the country and being 'rubber stamped' (the wider site has been scoped for a total of 5, 000MW!)
How often can a company with £4m market cap say that?!
Upside from current SP/ market cap? Unparalleled, imo.
#NCCL RNS BIG signal! Scott Fletcher adds 2.75m shares, taking his holding to 22.09%.
Increasing % of shares in very tight hands; c43% listed on website as sihgnficant, plus other directors and parteis holding above 1 or 2%, plus numerous LTHs, many holding millions of shares!
All this after EDM approval of Transmission Route for 300MW Grid Scale #Solar Project, the largest proposed solar project in #Mozambique!
Upside from a £4m market cap? Unparalleled in my view.
The signals are there. NCCL will be on the turnaround/ growth stocks of 2023.
Started: Lucky8s, 17 Jan 2023 20:37
Last post: Lucky8s, 17 Jan 2023 20:37
This has to be good news ? What do you all think the potential price could go up to this year or do you think it will just sit below the 1p mark, I’m 50/50 if I’m going to buy more shares.
Started: CF73, 17 Jan 2023 08:32
Last post: NAV_Mike, 17 Jan 2023 11:05
The principal element of his loan can be converted at 25% discount to 30 day VWAP (minimum 0.5p). The interest element is converted at 30% premium to VWAP
I think CF73’s view that loan interest conversion is a positive sign is justified - the majority of loan providers are insiders, thus restricted in their ability to convert and then flip the converted shares, thus the 30% discount on conversion can’t be realised in the short term ( and is also somewhat less than 30% giving the significant bid offer spread on this stock). If insiders believed there was little chance of future share value, they would not be converting (loan interest ranks above shareholders in a liquidation) - I see the conversion by insiders as an endorsement of the companies future.
Scott Fletcher buying hares on the open market are a HUGE signal of confidence. Those conversions are also, as he will be holding shares in the company's stock -- and why do that if going nowehere?!
Let's remember again, EDM has approved the transmission route for the company's Grid Scale Solar Project. This is, as someone else put it, a HUGE rubber-stamping of the project, a view I agree with. That transmission route is to connect to the main Grid, for domestic and export applications (into the wider regional energy pool/ SAPP).
They are all gearing UP!
Good luck folks!
He bought them on the open market. The share conversion has yet to be authorised / carried out
7, 256, 555 @ £83,129 = 0.01145p per share.
Started: Paulie250780, 16 Jan 2023 14:42
Last post: Paulie250780, 16 Jan 2023 14:42
Some nice buys going through now!!
Started: CF73, 13 Jan 2023 08:29
Last post: CF73, 16 Jan 2023 11:22
I hear you glenmorangie. It is disappointed at one level, for sure. But they may well have a future bottleneck of news. The recent news of Transmission Route Approval by EDM points to - as someone else said - a rubber-stamping of the Solar Project, with news due on agreed solution for connection and tariff. So they have to get this conversion done before that news. That said, yes, I agree. There has been considerable further dilution, including every time we look like we could be getting SP appreciation, they do something to kill the SP again. But we are on the right track finally and hope they have good sense/ decency to consider LTHs who have been diluted again, in such future transactions.
CF73 - why did they not wait 30 days or so to see if the price increased to higher levels before they released this news ?
Thus the 30 day weighted average price would be higher and much less dilution ?
Hanno keeps on saying he is doing everything in his power to minimise dilution to the PIs but his actions say different - he was in control of this release i.e. it is insiders who want to convert.
CF73 - all this is going to do is drive the price back down again , every time we get some sort of appreciation in share price we get this sort of news release.
What is the Volume Weighted Average Price (“VWAP”) on the thirty days immediately preceding the date of the conversion notice ? - less than we are priced at now and then they get a 25% discount on that price. Off course they are going to convert.
How much dilution will this add? and there is more to come.
Sorry but not as happy as you are with this news and the timing of it.
#NCCL RNS Converting loans to shares = HUGE confidence shares will be worth more than loan interest
Note: Mozambican State Utility just approved transmission route for Company's proposed 500MW Grid Scale #Solar Project, largest solar project in Moz!
#StocksToBuy #stockstowatch
I was wondering the same, they look like sells, but the sp held up considering.. same ol same ol, the usual uneven playing field of aim.
Started: Blueshoes7, 3 Jan 2023 19:37
Last post: jdt1990, 9 Jan 2023 22:19
Losing? Lost it donkeys ago!
Just not worth selling and crystallising the loss now.
Not one trade.. says it all really, folk losing confidence in HP
Looks like no one cares, nothing NCCL does has any point to it, the investor podcast (LOL) no one will tune in, if you send questions in that the Mugs on the Board find difficult. They wont get answered, indeed probably a heap of pre planned already questions, for Snake Tongue, pengilly (or however he spells it) to waffle on about, in his Public School lisping style.
Made me laugh Investor seminar, so share holders could discuss the BUSINESS. EHHH
Business, LOl. A Business buys and sells, has cash flow, creates value, this S@it Show is no business. NCCL and its Directors are A Parasitical entity, the hosts it feeds on, are us muppets, who at one point thought there was a business here.
Incredible to witness the Marie Celeste just drifting along, no trades, no posts, no interest nada.
Started: Blueshoes7, 22 Dec 2022 09:09
Last post: hxulcolrdoh, 22 Dec 2022 09:45
More snouts in the trough.
Rest assured that all monies raised / generated will always be thrown in the trough.
Anybody who ignore the extensive history and thinks NCCL is an investable company is an imbecile.
Expect more dilution in April. Maybe Nccl should just boot Hanno out and shut up shop, ive accepted ive lost probably 100% of my investment. S@it happens and NCCL is most certainly a S@it Show. Tedious, repetitive, boring, worthless and corrupt. Well done Fletcher, you have now Tarred yourself with the Same Brush. IE an AIM cesspit director, out to extract monies from genuine people with generalised, virtually Fake info, they base their decisions and trust on.
Yawn, that RNS went down like a sack of S@it. Roll back 5 years and its a virtual duplicate of employing a consulting firm to consult on the now derelict power plant. OHHH and it was a directors firm, indeed same director, this stock is the biggest heap of Junk I ever got involved in. Stuck with a load of worthless, junk shares that no body is interested in. No trust here, no belief nothing. Pengelly sounds sort of sincere, but sort of is like saying. He is full of S@it.
Started: CF73, 12 Dec 2022 16:50
Last post: MTwallet, 20 Dec 2022 18:30
Having been in Polo Resources years ago and actually made money from it but was sold to the current clown in charge who has never returned any thing back to investors and been getting an extension on the phulbari project for years on end in my eyes they would be better putting solar panels on it and running hydrogen generators be much cleaner cause coal is on its way out , I hope the clown in charge of nccl doesn't sell us down the road on this one .
Actually Daisy the two companies seem remarkably similar.
£xxx millions raised to launch money spinning coal projects. Years/decades later no sign of any operational coal projects and ((£xxx - £x) millions have transferred to a few delusional chumps how hold the £x million and still think they are sitting
on a ten bagger.
Puts me in mind of the old grifter maxim - if you don't know who the patsy is - you are it.
Crouton Factor- there is no comparison between the two companies.
Dream on..
GCM who have the coal and popwer project, at Phulbari in Bangladesh, today announced an extension to GCM's Memorandum of Understanding (MoU) re: the Coal Mine Development project.
We know NCCL now pushing on their coal project, exploring JV or sale (with parties engaged, I believe, at early stages). GCMs news shows that China remains open to coal mine development (i.e. there is no blanket 'NO' response to foreign coal mine projects - GCM shows this).
Could get interesting...very interesting!
---------------
'The Company advises that, further to its announcements of 23 November 2021, and 2 June 2021, Power Construction Corporation of China, Ltd. ("PowerChina") has agreed to an extension for a period of a further 12 months from 6 December 2022 to 6 December 2023 on the same terms as the previous memorandum of understanding ("MoU") which is primarily focused on the Phulbari coal mine development. This will allow PowerChina and GCM to determine the modality for PowerChina to become a Mine Development Partner, subject to the approval of PowerChina internal compliance and all other relevant regulatory agencies.'
https://www.investegate.co.uk/gcm-resources-plc--gcm-/rns/mou-extension---phulbari-coal-mine-development/202212120700032978J/
Started: Shatner, 27 Nov 2022 13:31
Last post: CF73, 9 Dec 2022 08:08
Those Shares from the Placing should've been admitted to the market at the start of the week, and definitely by now. However, there doesn't seem to have been any major selling (some selling, yes, but not huge in the scheme); no huge rush for the door to get rid of Placing shares. That's good to see in my book.
1. So Valuations for Solar Project are now in, and demonstrating significant upside.
2. And the placing is done, NCCL funded till end of April, 2023.
Current SP has got to be close to the absolute floor here. And even if not, still represents HUGE upside, in light of the two above points.
Good luck folks!
apols, typing on phone on the train.
most of the placing shares still not soaked up by buyers, they got to be sold befoer breakout, with placing at 0.65p
market volume suggests market aware of overhang of shares & waiting for bettter price. ahanno also says solar project news not till q1 2023, where, december & january usually quiet months in mzoambique
agree potter,, some will be forward sold,as shares been available to makret. but overall volume since placing rns shows most of placing shares still to not soaked up buyers. we should see sp drop soon, to move these alomg
Some will have been cleared as forward selling.
, got to remember the 80, 000,000 placing shares hit market 'around 5 December 2022 ,'
will be overhang of shares, so time to buy is then, for mcuh lower share prices.
Last post: Justone, 27 Nov 2022 16:01
A very positive podcast, sounds good for the future. No mention of the sale of the coal, so I suppose if that is announced a massive bonus.
Started: Clarence2, 22 Nov 2022 14:52
Last post: Jimmy73, 23 Nov 2022 14:51
made mistake of buying loads in the 1p range. thought company finally makin progress
can see it dropping to 0.70p and lower. placing price 0.65p
Nccl are a very poor company, slow moving, but there is a potential upside. If it falls to around 0.7p i may consider averaging down.
Fully Funded he states? But only till the first 2 of his milestones are completed. As in at that point still a Million Miles away from generating any cash. Reminds me of the years we dredged along awaiting Tariff approvals etc. That never appeared, he sounded So sure then.
Lost faith here completely, its a Busted Flush for us holders, many currently holding way above 5p. If this ever creates any cash, by then, there will be over a billion shares in issue. I note Fletcher gets to buy again @ 0.6p, we don't. Plus plenty of Warrants thrown in to dilute us and insure the lions Share goes his way. If this has any wings, no guarantees as its Pengilly saying it has. Then being able to buy well under Offer in quantity would be the only likely way of ever breaking even.
More Money required in April with nothing other than a few nods from authorities saying they can use the Grid access points. Being the only progress.
Started: FatInvester, 16 Nov 2022 10:31
Last post: KevinRound, 21 Nov 2022 09:49
I had hoped to say trade this without researching the company…… if I get my money back I’ll be happy no volume company appears in crisis great lol
They need to progress something Benjan. Otherwise April arrives and once more the coffers are empty. Fletcher I suppose is caught between a rock and a hard place. His average must still be 3p. He has got himself grafted into the Board and unless he revolts, he must play ball.
Hanno is BANG out of Order, masquerading as the Leader YET showing no willingness to do anything other than sit on the Throne of NCCL. Its a disgrace he never commits his own cash here, by the way that Cash use to be Shareholders, extracted in the Millions by him. P@ssed me right OFF today. SP here will be back to 0.5p by January. Ohh well What happens when one gets buried in a S@it Show with a Dead Beat Crew running it.
I agree with so much going for them why the ******* discount of so much just takes shareholders for mugs and if and when goes bk to 1.3 then the board can cash in the warrants and more money in there pocket total disregard to shareholders.we are the ones that lose out happens all the time on this casino
Whoever has stumped up the cash will have know, just like we did, the company was literally in a placing or bust situation.
Regardless of what the asset values are, you’d of course drive a mega discount to improve your return / reduce downside risk (latter more likely with NCCL)
Scott Fletcher then says “yes please” I’ll average down.
He’s literally the only thing that provides a sliver of hope. He’s got 20% of the Co and keeps adding in. Either he’s just looking to buy a solar project like the last one that shareholders get nothing of, or he sees some value….
This is painful, but at least company still solvent to deliver the potential coal sale and progress the solar development. I had feared that they would bust it, bid farewell to the shareholders and the creditors would take the assets.
We live to fight another day, well until April, when we should have further positive news. Still struggling to understand why such a discount was required, given value of the projects and the potential negative impact it will have on the sp.
Started: Deanosbooty, 4 Nov 2022 10:52
Last post: BENJAN1, 7 Nov 2022 09:41
Indeed Momo2058, many of the PI’s are still invested , but patience has been tested and attention turned elsewhere whilst Hanno sorts the funding for the solar project and a purchaser/ JV partner for the coal asset.
These elements are under the control of NCCL and they are no longer wholly reliant on the Chinese to fund, generate revenue and realise value. The risk to the shareholders now is potential dilution or Hanno failing to deliver on either of these 2 opportunities.
It has taken much longer than anticipated to realise value, however I sense now that we’re closer to delivering on what appear to be feasible projects than we’ve had previously.
It’s only a matter of time - NCCL are sitting on top of a huge coal resource and the draft FS in the last RNS was excellent. All this potential will be picked up soon - especially by a Chinese investor as it becomes difficult for them to invest in North America.
This BB is so quiet now, (tbh though, I rarely post, am more of a watcher).
Are there many Pi's left, or does Scot own it all now?
He must be very much underwater, like most of us, however he must also
still see a future of returns here!
Have held, averaged down and found myself deeper and deeper underwater,
somehow, I still feel there is something that's going to happen, which will propel
this sp upwards. Whether it be the coal, solar, or the power station getting the go
ahead, or something completely different.
Have been here since the beginning of '17, so I'm due something lol
Please will someone with deep pockets (China) come and finance this!
Started: bladesharp, 28 Oct 2022 10:59
Last post: bladesharp, 28 Oct 2022 10:59
Ncondezi have just tweeted the following:
"Investment fund Acre Impact Capital launching $200m fund for climate finance in #Africa #solar #Mozambique https://bit.ly/3N62me1 "
I cant see any other reason for them to tweet this unless they have been short listed for funding :D
Started: bladesharp, 27 Oct 2022 12:52
Last post: CF73, 27 Oct 2022 13:53
Excellent post Bladesharp!
https://furtherafrica.com/2022/10/26/mozambique-2023-budget-draft-forecasts-23-1-growth-in-extractive-sector/
"Coal production will continue to rise, due to the global energy crisis, with the increase in production reaching 28%"
Now Ncondezi have a 4 Billion Tonne JORC coal mine (fully approved) ready to go into production in 6-9 months as soon as they find a buyer/JV partner. Looks like Moz are already factoring this in
Started: Blueshoes7, 26 Oct 2022 16:59
Last post: Blueshoes7, 26 Oct 2022 16:59
Looking like a Strong Finish ahead of the substantial news coming by the end of the month. Starting to feel very good for current and LTH. Good Luck all.
Started: bladesharp, 25 Oct 2022 15:31
Last post: gggg21, 26 Oct 2022 14:35
Those two trades at 1.38 for £6490 x2 caused the jump. Buys over on aquis to at 1.38 on Nccl.
,small free float is killin; me ! got an order in but not biting
Minimal free float and huge assets not priced in mean this will skyrocket
The issue is small free float which means trading in quantity is challenging. Relatively small buys today have resulted in significant price movement. Need MM’s to act effectively!
Multi bagger potential here
Started: CF73, 25 Oct 2022 08:39
Last post: CF73, 25 Oct 2022 08:39
#NCCL With two HUGE projects/ assets now in play! Turning around ON!
Project/ Asset 1: Grid Scale Solar Project 5000MW+ potential
Project/ Asset 2: 4Billion tonne JORC Coal Asset, with permits, concessions, now open for JV/ Sale.
Once again, both HUGE!
Project/ Asset 3: 300MW Coal Power Plant (Scalable to 1800MW). Has not been turned down officially and global shift back to coal generated power back on. NCCL Looking to use Coal Asset JV/ Sale option as leverage to get movement on coal plant.
All for just £4m market cap!?
More news by end of month!
#StocksToBuy #Stocks #StocksToWatch #StocksInFocus
Started: Blueshoes7, 24 Oct 2022 17:12
Last post: TheHoopedBaron, 24 Oct 2022 19:51
Who knows what such a massive resource is worth?
Im not familiar with the structure of launching a mining JV but lets say we restrict the mine value to the easier surface coal of 120m tons over a ten year deal.. coal is approx $325 / ton currently.
Lets say we agree to let our partner run the mine 100% and we just take a flat royalty of say £10 / ton... that equates to $120m royalties every year for 10 years.
Is that realistic?
For comparative purposes... Glencore completed the acquisition of Cerrejón open cast thermal coal mine in Colombia recently by buying out its 2 existing joint partners in a $588m deal.
Cerrejon is also a 4Bn ton resource but it only has approx ten years mineral rights left. Annually it produces about 25m tons per year.. so Glencore must have been looking at a 250M ton resource over a ten year lifespan.
So lets say we mine at 50% capacity of Glencores mine but we have longer timescales and far superior recoverable tonnage. What would Glencore value a JV with NCCL at?
On a royalty basis over 10 years we could be looking at $120m per year = 30p/share per year.
Would Glencore stump up £200m to initially buy in? I dont think thats unreasonable for such an opportunity... for NCCL that is 50p per share as an initial payout ...
We can only dream at this stage as this current plan of solar and coal mine blows the original power plant out of the water.
Lets get the solar agreed asap and then we can sit back with the popcorn and watch how the coal JV develops over the next 18 months.
An excellent interview with Hanno. He looked and sounded calm, assured and genuine. I have had my doubts regarding his leadership in the past. Maybe now he comes good. If they pull off a full solar farm feeding energy to the Grid and a partner mining the coal. SP here? anyones guess. Cherry on Top is out the Blue, CMEC announce funding. Boy could see 25p. Easily
Started: TonyBaby, 24 Oct 2022 16:33
Last post: TonyBaby, 24 Oct 2022 16:33
We were at around 12p(?) When we were about to sign for the power plant...Reversed to 6p when new Chinese group waded in ... Nothing of consequence has happened since...??????
Started: CF73, 24 Oct 2022 14:56
Last post: CF73, 24 Oct 2022 15:11
#NCCL Coal asset and mine plans. Hanno said:
"When global thermal coal prices are at a record high. And we are sitting on a 4billion tonne JORC coal resource, which is fully permitted, with coal concession etc. we believe able enter into coal production within six-to-nine months!"
-------
The add the Grid Scale Solar Project, 300MW but scoped for 5000MW+ potential!
All for just a £4m market cap!
BOOOOM!
For just £4m market cap!
$NCCL Ncondezi Energy pivoting to solar in Mozambique https://tinyurl.com/2y2nt69x @Ncondezi_Energy
$NCDZF $9NE #NCCL #NCDZF #9NE
https://twitter.com/proactive_UK/status/1584526133361451008
Started: CF73, 24 Oct 2022 14:53
Last post: CF73, 24 Oct 2022 14:53
Looking good ahead of news.
As others are saying, plenty now going on here, with the majority of the upside still in play!
Started: bladesharp, 24 Oct 2022 10:54
Last post: Blueshoes7, 24 Oct 2022 14:14
The Coal could very prove to be the biggest WIN for NCCL. Coal prices are through the roof and it will take nothing hardly once an joint venture partner is agreed, to start extracting, transporting and selling, the easy to mine huge JORC Coal resources NCCL sit on. Could go BOOM big time here. In no time..Literally. Never been as much going on for NCCL as lately.
Would be great if we Ncondezi can get a grant too!
Solar project feasibility study set to be completed this week (already confirmed last week in RNS that it is still on track) and all stars are starting to align for a significant increase in SP from these levels. We all know how quickly the SP moves here
Started: CF73, 21 Oct 2022 15:44
Last post: glenmorangie, 23 Oct 2022 11:46
What I like about selling the coal asset as opposed to chasing the power plant project with China is the following;
- The area has proven & significant coal resources (Between 2009 and 2013, roughly US$40m was spent proving up the potential of the project with 78,274metres drilled over 524 boreholes delivering a classified JORC coal resource of 4.0 billion tonnes).
- Coal at all time high price with the worlds power needs V ability to supply is in a mess for the foreseeable future.
- A competent persons report backs up the numbers (Mr Stewardson and Mr Andrews)
- There is excellent infrastructure to move the coal to major cities and coal export hubs (benefiting from two existing export coal rail corridors)
- The project has been given all the relevant government consents, although they will need updated and approved again.
- Ncondezi taking this new tact will force the hand of China one way or another, either sign up to the powerplant project or remove yourself from the equation.
Not bothered either way, we have a huge proven resource in the ground, and it is time to monetise it.
Competent Person’s Statement
The information in this RNS that relates to coal resources has been reviewed by and is based on
information compiled by Mark Craig Stewardson and Gavin Stuart Andrews of Mineral Corporation
Consultancy (Pty) Limited. Both Mr Stewardson and Mr Andrews are Competent Persons who are
registered as Professional Natural Scientists in the field of Geological Science with the South African
Council for Natural Scientific Professions, a Recognised Professional Organisation included in a list that
is posted on the ASX website from time to time. Neither Mineral Corporation Consultancy (Pty) Limited
nor any of its Directors, staff or sub-consultants who contributed to this resource estimation has any
material interest in Ncondezi or in the assets under consideration.
Both Mr Stewardson and Mr Andrews have sufficient experience that is relevant to the type of coal deposit
under consideration and to the activity being undertaken to qualify as Competent Persons as defined in
the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (the JORC Code). Mr Stewardson and Mr Andrews consent to the inclusion in this RNS of
the information based on their work in the form and context in which it appears.
The JORC Code sets out minimum standards, recommendations and guidelines for Public Reporting of
Exploration Results, Mineral Resources and Ore Reserves. The information contained in this release has
been presented in accordance with the JORC Code and references to "Measured" Resources are relevant
to that term as defined in the JORC Code.
A Competent Person’s Consent Form dated 18 May 2015 relating to the Ncondezi 2014 Annual Report
and Financial Statements is held on record by Ncondezi. There have been no changes to the coal resource
estimates since 18 May 2
#NCCL Buying is starting to pick up folks!
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