My current thoughts on NCCL1 Mar 2018 11:49
While I can understand why there may have been sellers over recent sessions, I think they are short-sighted in my honest opinion. You must remind yourself what attracted you to this company in the first instance? Nothing has changed. In fact, in my view, it�s now even more likely that this will go ahead as planned.
Firstly, I think I/we may have misunderstood the RNS from December, to which I hold my hands up for. It stated that updated EPC and O&M bids would be submitted for review by end of February. It didn�t directly state there would be an RNS to confirm this. As there has not been any RNS stating a delay (which there always has been in the past, very promptly) I think we can safely assume these have been received on time and are now being reviewed, as per the company�s correspondence.
Regarding timescales, this is a monster project. We�re talking about potentially hundreds of workers, millions of pounds worth of machinery and equipment, pages of paperwork and months of graft. These things take time and require patience.
We have long term shareholders with large holdings who are not selling. We have GE and CMEC who are extremely active in the area and approached us for the project. We have Mozambique and Africa who desperately need this. We have a board who are confident. For me, it�s not IF this goes ahead, it�s more a case of how much will we have to part with and for what price? I�ll tell you one thing, it�ll be significantly higher than our current valuation, especially given our small free float.
I for one am very happy with the current situation and will retain my entire holding until we have further news. Lack of patience is a PI�s biggest fault in this game.
Do your own research and then trust it�
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