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Nice finish today surprisingly
My guess too, the last of the Placing Shares. Agree though, how can they get rid of that many Placing shares when demand for shares is limited in comparison to selling pressure?!
X2 ! Will either signal placing shares now fully sold and establish a base for sp or there will be a rush for the exit.
Can anyone answer how the sp is still liquid given this volume ?
Big sell
The thing is, unlike most AIM frauds, NCCL has massive backers and parties involved, from AFC (largest African infrastructure investor in Africa) and Polenergia (largest private energy company in Poland) to working with CMEC/ Chinese State (and am guessing, GE). Not to mention some major HNWIs like Scott Fletcher. Not forgetting, WORLD BANK overseeing the building of our infrastructure (with contracts being awarded as we type!)
More than any other time, if the project was under material threat (resulting from this statement), am sure it would've been difficult for the NOMAD not to force NCCL to issue an RNS.
I would buy but no filthy lucre.
As it is, no RNS means that earlier positions/ news on good progess (EPC) must still hold true and demonstrably so (for the NONAD).
Really sorry to hear you have sold up at a loss, GGG. Too many good folks been hammered here. But I still remain convinced the project is going ahead, looking at specific news from NCCL and CMECs comments, as well as World Bank proceeding with the infrastructure contracts. Still though, company could do with reassuring LTHs, especially after their commitment over the years.
G-G-G, sorry to hear of your losses, I’m in a similar boat and will continue to hold in short term. Although I concur with your views, I sense that the project is still on and CMEC will take NCCL out, which keeps me here.
Your posts have been greatly appreciated and always provided great insight.
I’m sure you’ll make the gains in the future to wipe away these losses.
Keep well
Thanks Rocket. I've had a pretty good run of late so although it hurts I'll get over it. To be honest I feel surprisingly relieved to have pulled the plug. I really would lose my mind if I was continuing to wake up every day to check whether anything has actually happened. As extrader has pointed out, we're not going to get any real clarity on this for sometime. And given Hanno has been hiding our head post EPC contract signing, I doubt he's about to stick it above the parapet now. So more questions, silence and confusion no doubt to ensue. So many lessons to be learned from this one. Good luck folks.
OUCH!!!! Thats a life changing £ amount for a lot of people. Takes guts to admit a loss like that when most would have kept it quiet. Been there myself although not as big a loss as that & know how painful it is. I lost money in a certain company (Wasabi Energy) because i became too attached and didn`t want to admit that it was a dud even though the technologogy was great. It wasn`t ready to expand at the time due to funding also involving the Chinese. As you say, an expensive lesson but wish you the best on other shares.
I'm out. Surprised I managed to get 1.75m away today at about 1.3p average. Those 250 / 500k trades have been mine this morning. I've thought about getting out of this company so many times over the past 6 months but always believed Hanno would deliver on those milestones in H1 and expected to profit. Following the long drawn out silence I then never wanted to crystalize my losses. In the end this dog has taken about £65k from me. Truly sorry to those people I've mentioned this company to before. It was always a binary play. But the mgt and general environment (including Moz) have a nasty stink. I also believe Hanno, like most trust fund babies who haven't earned their position, is completely out of his depth. You could never rely on a single word that came out of his mouth. And now he's gone to saying nothing for months on end, only to say nothing when he finally delivers a major milestone. I'm truly lost for words when it comes to how he's managed this company over the years. So that's it for me. It's never the smartest thing to sell on emotion but even if the sp goes to 4p tomorrow I'm glad to be out of this one. Very expensive and valuable lesson learned. Sad thing for me is had I put the £110k that was in here into my other 2 x AIM stocks I'd have close to £1m in AIM right now. Thankfully they're doing very well, but can't help thinking what could have been. That £110 would be worth at least £250k, rather than £45k. Good luck to those with the cojones to stay in.
..."Now this general comment from China’s Xi..."
A bit more than that, please !
It's quite specific - and made at the UN, in front of the entire world community and media.
What we don't know is 'what happens to work-in-progress' ? and - IF the answer to that is positive for Ncondezi 1 (300 Mw), what does it mean, if anything, for subsequent, proposed build-outs ?
Realistically, subsequent phases must now be considered far less likely.
So how does that scenario affect the attractiveness/commercial viability of Phase 1 ?
For now, the Dear Leader has spoken,.
CMEC , BoC et al are not going to stick their heads above the parapet until they know it's safe to do so.
So , I'm not expecting anything positive in the short term.
Meanwhile, closer to home, the likelihood of the UK having to fire up its own (none state-of-th- art )coal plants this winter is rising steadily.....
Ho hum
Very little information on the company website about the gold projects. Are these projects worth the current mcap of £5M if the coal project doesn't go ahead?
Think this goes sub 1p today, China has made a commitment not to build any more coal fired power projects abroad. This project has not yet been built so the writing is on the wall imo looks like this will turn into a cash shell over next few months imo
Glen, that quote is from company PR person via a Twitter Group.
If you are on Twitter, we could invite you to the join the group...
Remember these comments from CMEC in that RNS:
"Following the recent positive progress with all parties, CMEC is pleased to have signed the power plant EPC contract as committed this quarter. This is an important milestone for the Project and CMEC is committed to working with Ncondezi to deliver the Project in the near future."
https://www.investegate.co.uk/ncondezi-energy-ltd--nccl-/rns/power-plant-epc-contract-signed/202109090700021851L/
CF73 - Where did you get the below quote from ? Thanks
Finally, NCCL PR has commented (which I believe are an accurate assessment/ representation of the situation):
“The company was fully aware this was on the cards. We have very good communication with cmec and it is why it has been so important to demonstrate the project is an advanced stage project. Our understanding is that China will not take on any new projects but it will continue with those at an advanced stage like ours.”
10p SP buyout price equates to £40m. CMEC can afford twice without flinching (got to remember that we are coal mine - with billions of tons of high grade coal - and a power plant). So how much (i.e. price) is actually being discussed?
Hanno has rarely paid attention to the SP and to maintaining shareholder value.
After years of missed deadlines – with shocks along the way (i.e. GE), we then have that very long period of silence.
Then EPC lands, only for nasty placing the following day. All of those placing shares not yet sold and then also have to be churned.
Now this general comment from China’s Xi.
Is now fortunate that we are cashed up, with £600, 000 in the bank from that ludicrous Placing. With, by now, our operational costs reduced (most of the work is done), we can stick it out.
Whatever the current SP, feel nothing has changed in terms of prospects for NCCL. Just a case of the final buyout price.
Trying to stay positive, we were never about the coal. My understanding has always been that we were all about METHANE, which I believed can be transformed to electricity. If this is correct, then it is down to Hanno to put out the RNS fast making this clear. If I am wrong, then we are still owed a clarification before liquidation! I think we are oversold but no more pouring of my money into this particular hole.
My views, in short,
- SP performance chronic
- NCCL/ Hanno performance tragic
However,
- Xi’s comments are ‘vague’/ general. This is a future looking statement, not impacting on existing, advanced projects.
- NCCL literally only just signed the EPC, with Chinese state would have had to have OK’d
That said,
- ‘Market’/ MMs, need and invite volatility
- In light of general concerns with coal and failure of Hanno and Co. to repent a strong enough narrative around progress and events, NCCL has remained open to volatility and attack.
- Market/ MMs have taken advantage, following some initial spooked sellers.
For me,
- We remain on track just as we were before;
- EPC signing recent and a much more specific, truer reading of the situation
- CMECs comments about ‘near future’ emphatic and more accurate taking into account our project situation than Xi’s rather more general (‘vague’) comment.
Finally, NCCL PR has commented (which I believe are an accurate assessment/ representation of the situation):
“The company was fully aware this was on the cards. We have very good communication with cmec and it is why it has been so important to demonstrate the project is an advanced stage project. Our understanding is that China will not take on any new projects but it will continue with those at an advanced stage like ours.”
Does anyone know if the EPC is binding or non-binding? If the former, is there a penalty clause effective if a partner (China) withdraws?
#NCCL This is an over reaction to a general comment. Those comments are not and are nowhere near formal policy, let alone NCCL having just signed EPC with CMEC - a process that the Chinese state would have OK'd.
So, as far as I am concerned, all remains on track. Nothing has changed.
Massive buying opportunity!
That's just changed with price move back up
Bloody ridiculous with Barclays - they will allow you to sell shares under their quote & deal but not allow you to buy - why the hell would that be the case ? There is obviously 100s thousands shares up for grabs because of the off-load but they won't allow you to buy them back ?