Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
#NCCL Buying is starting to pick up folks!
#StocksToBuy #stockstowatch #Stocks #StocksoftheDay #StocksToHold #sharemarket #Shares #ShareTip
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