Member Info for badeli

Hi Splatted, I thought you were switching off after the haircut until the next red dot! Hard not to keep an eye on NCCL, I certainly do every day. I am pleased I bought more yesterday and share your hope that we found our temporary bottom yesterday and will start recovering later in the week. I read through most of the recent RNSs last night and as a result am very happy to wait as long as it takes.

Yesterday's RNS was just what I was expecting as an investor although I would have preferred a shorter timeline. However, as has been pointed out more than once by a poster accused of being a deramper, this is Africa. He has been proved right.
Having said that the previous RNS clearly assumes that the timeline documentation will have been signed by all three partners before submission so, as far as I van see, the company is continuing to move forward towards the JDA and ultimately financial closure. As nothing has fundamentally changed I have just bought another 51,799 at 5.27 and will hold them for as long as it takes, assuming progress continues as laid out.

I may be wrong but I am assuming it has been signed given that the agreed timetable is being submitted to the regulatory bodies.

NCCL continues to deliver on its objectives and there increasingly appears to me to be an inevitability that this is going to work out really well for the company and its LTHs. I particularly note Michael Haworth's comment that today's RNS, which shows full alignment between NCCL, GE and CMEC is an 'important step in the company's pathway to success'. He is not given to overhyping expectations and the choice of words seems significant to me.

OandW, most of us who are LTHs are fully aware of the inevitability of delays which are always frustrating for investors. That does not mean that we should not recognise when another milestone is reached and nor in my view do delays negate the quality and prospect for success of the project. From what I have read KIBO seems like a different concept which has never attracted me - I do not see its relevance to NCCL except that it is also in Africa, albeit in a very different country with different priorities and a different regulatory framework.

Calm, measured, very confident RNS and a very clear statement of intent by Michael Haworth with regard to options for loan holders. Another box ticked and the company can now concentrate on the next milestones leading to the JDA.

The receipt of the Letter of Suppprt from MIREME and the MOU from the EDM place NCCL firmly at the centre of the Mozambiquan government's comprehensive energy plan and confirms for me that the project that will go ahead. Excellen news. The addendum at the end that the revised loan for equity documentation is now out for final signature from all lenders suggests that they are all fully onboard.

Excellent timing before the AGM which I wish I could attend. I look forward to to reports from LTHs who will be there.

Looking forward to next week but sorry not to be anywhere near London to meet with all the LTHs who are planning to attend the AGM. I look forward to any comments posted. My own hope is that you will hear confirmation that the loan restructuring is 100% complete which should lead to a 10p base before the appointment of the new EDM boss, the issuing of the letter confirming official backing, followed by signing of the JDS and an agreed date for financial closure. Very few AIM companies have ever been long term holdings for me but I am in so deep and have such confidence in the eventual outcome of NCCL’s partnership with GE and CNEC that I am planning to remain invested for some time.

We seem to have bounced for the third or fourth time at 5.80 so perhaps we are heading for another move up to 7p+ before either the RNS or a further gradual slip back again to 5.8! Heigh ho!

Yes, I think you are to some extent correct. I am not personally second-guessing when the next positive RNS will arrive as I would hate to run the risk of being out at the time after having spent the last couple of years building a position! I am, however, taking advantage of the dips as and when I can and will pick up a few more today. That to me is the best course of action as I continue to believe that the more I can buy at a 'stupid' price just now the more my long-term commitment will be rewarded. Each to his own but I personally do not have the nerve to sell and then hope I can buy back cheaper.

I share the growing sense of frustration that final pieces of the jigsaw are taking longer than I would wish but I equally share the confidence in the positive outcome for which many of us have been waiting for a long time. When NCCL can control timelines Hanno keeps to them but we are now playing with the big boys including the Mozambique government, majors, regulatory bodies and others who do not read BBs and are not interested in the views of PIs. If we believe, as I do, that nothing has changed to alter our confidence in the eventual outcome then I guess all we can do is wait as we simply can have no influence on the timetable for final loan restructuring, government sign-off etc. I am happy to do so.

A second consecutive positive day is encouraging. I sense there are plenty of LTHs like me ignoring the doom and gloom, the predictions of never-ending Brexit-style delays and so on which we see from time to time and remembering exactly why we are LTHs. It is to me a shame when we are made to feel that it is wrong to be excited by rises - that is the fun of being invested in a company with such great prospects and I for one am happy today, as I was when we were trading regularly between 8p and 10p a few months ago. I am expecting us back there again soon and, after that, who knows? This is a good journey to be on and I will stay onboard for as long as I see the prospect of further growth. When this moment comes, I will hop off!

If NCCL was a one of the many supposed 'get rich quick' miners we would have seen a sudden jump in the shareprice this morning. The fact that we haven't suggests that NCCL remains well below the radar of the herd which is excellent. Scott Fletcher, who already held over 3% of the shares after his major purchase earlier in the year, has now increased his holding to over 4%. He will know much more than we do about the inexorable progress on various fronts - conversion of the loan, signing of 'the letter', preparation for the completion of the JDA etc and, knowing what he knows, he has added c £1 million of shares to his holding. As has often been pointed out, the number of shares available to trade when any of the milestones are passed is very, very small which will be good news for all LTHs. All very positive in my humble opinion,

I guess I have learned not to be frustrated over the years, to pick the right moment is almost impossible and really used to be frustrating. Now I try to select companies in which I believe and wait as long as the story does not change. In my view the NCCL story is rock solid.

If I was a trader I would immediately home in on the proposed timescale for the JDA, as an investor I am absolutely confident in my investment. The details in this morning's RNS are just as I would wish to see, full commitment from all three partners and no reason not to be very pleased that we are moving forward.

8.00p paid and offered 7.84 for a dummy sell. Beginning to retest its highs in anticipation of news?

Still watching and waiting, still confident and and very glad I have my shares. I think the relatively few posts these days reflects the fact that most of the shares are safely held by investors who have spent the past 18 months discussing the company and its prospects until there is not much new to be said. That is certainly the case with me. I am sure there is a herd out there somewhere which will eventually gallop over the horizon but at the moment they seem to be fixated on the next big thing, as they hope, and will only arrive here when they suddenly realise what they have been missing! They have not noticed the recent strengthening of the shareprice from its bargain basement 5.8/6.00p level.

As I have not posted for a couple of weeks I am just checking in to confirm that I am still fully invested in NCCL. I had hoped that July would be the month but I am in no hurry and am happy to await what I believe will be the inevitable positive outcome. Thanks to all the excellent posters who keep the research going.

Tried to resist but just sold a couple of small holdings and added a further 42230 shares. Really surprised at the bargain price, still very much under the radar but just wait.....! Well, we are used to that but it will make the outcome even more satisfying!

Really impressed - reads just like an invitation to major shareholders to buy shares at 10p instead of a 12% return on their loans at maturity. Green light or what?