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Good news on the loan restructuring and looks like they will be updating (positive )on new solar project pretty soon.
This Monday? Next Monday? 3 years on Monday?
Ignore the advertised spread if you do a dummy sell etc its false and the sell is basically on the mid way price
Hope they sort that spread...
Just wait for Monday!
Didn't last long
Everything is going down. Why this one up 29 percent. For no reason
The price just broke out a long-term downtrend so hopefully this could be a sign of a sustained upwards trend...
Gone NT only
Check out this article posted this week following China offical visit to Mozambique.
https://www.lwxsd.com/pc/info_view.php?tab=mynews&VID=25868
"To further inject new impetus into the China-Mozambique comprehensive strategic partnership. Both China and Mozambique emphasized that they cherished the profound traditional friendship between the two countries, and agreed that they would be committed to enhancing political mutual trust, expanding practical cooperation in the fields of economy, trade, agriculture, energy, anti-epidemic, and infrastructure, and promoting the implementation of the "nine projects" of China-Africa cooperation in Mozambique."
What are these "nine projects" you may ask.... well if you check the annual report you will notice it says:
"The Project is at an advanced level of development and believed to be the most developed coal power project in Mozambique. The Project was also selected as a priority Project at the China Mozambique Cooperation Forum in 2019"
So looks like the Ncondezi project is one of the nine and the Chinese are still onboard with the coal project!
With the Seritza loan ending today I am very much looking forward to an RNS on Monday and expect this to come hand on hand with news on the Solar Project and possibly more. Remember Seritza are inside on the Solar project so the restructuring of the loan should be aligned.
Apologies - missed that.
They did publish year end accounts & annual report on the 27.06.2022
Aim companies are supposed to publish their year end accounts within 6 months of year end.
NCCL's year end is Dec 31. No results have been forthcoming.
I can't believe an auditor would agree that they are a 'going concern'.
Curtains ?
Thanks extrader
.."is the mine already operational and if so do they export overseas?.."
No and no. It's not even a hole in the ground, yet.
See https://www.ncondezienergy.com/power-project/, everything is future tense.
HTH
Coal seems to be undergoing a resurgence, mainly thanks to Putin and the knock on effect to the gas price. For NCCL’s proposed coal fired power station they will (if the project gets the go-ahead) be burning coal mined on site. My question is, is the mine already operational and if so do they export overseas? Regards
sorry 2nd of June
cfh you don't seem like a smart investor to me - 1st the stock markets were closed on the 2nd of May and 2nd you are going to sell before in your words the company is going to 'Pre raising bull to ramp the sp up'. Why would you not wait for the sp to be ramped up before you sell. I think we should take what you say with a pinch of salt. All the best.
Pre raising bull to ramp the sp up so they can place alias of shares to pay of the loan which is due to be called in at the end of the month.Glad I sold the majority of my holding recently.Will be selling the rest tomorrow.I am never touching this dog of a company again
I wonder what next news before end of the month.
I take it you have reduced you holdings here 2m sell yours?
Adding as and when can not sure what is going on in the background MMS happily taking large amounts! Maybe a big buy order in the background... Next piece of news should be interesting. Gla genuine holders.
Seems to me that the sudden talk of a solar project by the bod,which could be implemented faster than the original clean coal project,means that a clean coal power station is somewhat dead in the water for the moment( forget what they say at investor presentations,take everything they say at these events with a pinch of salt).May reduce my holding next week by a considerable amount...as a precaution.There are other shares out there that offer more secure gains for the short to medium term.GLA.
A powerful, sobering article :
.."A kettle boiled twice a day by a family in Britain uses 5x as much electricity as a person in Mali uses per year...."
We (esp. the environmentalists in whose name /for whose 'feelgood' this situation is allowed to persist) should hang our heads in shame.
IMO