Member Info for Caterham7

Regards the RNS…..under UK domestic law, Harry would NOT have been able to state “ The Company remains ….confident in its ability to achieve its plan as set out in its announcement dated 15 June 2022, including the signing of the Umbrella funding Agreement”, if any doubt had arisen suggesting that any of the major investors in TK were having second thoughts.

And, addressing a previous post - umbrella agreements are indeed binding.

If you compare todays volume sold vs. Volume bought, then the share price should be up approx 3%

Buyers need to pull their finger out....

https://finance.yahoo.com/news/nickel-market-caught-fresh-squeeze-095918051.html?guccounter=1&guce_referrer=aHR0cHM6Ly9nb2xkc2Vlay5jb20v&guce_referrer_sig=AQAAALFnODexnw0BaDRfVffu2zQLnWEOKl2CCxhKrDzvboMaiFCq3Ak-nK023SCXS75gZysPMNYdwB-_59f_qNb62YOc0VU27Y6-iby3J5WTHylhErTmmD8xEAC1m1kKMElWajnslGMT90jPCXpDBL7XTSh3_veFQv6Sb-gzgq--KRiG

OB1973 - you seem to be most prolific / knowledgable poster on this BB. Please can you explain what you mean by 1) last day for Chinese, 2) mid Feb placing date, and 3) unlimited warrants. What is significance of these? Cheers.

Good post ElectricLion - reflects most peoples thoughts on this BB. Couple of years ago I held approx 1.5% of KEFI. Since sold quite a lot, but still have a very material holding. Yes, Im disappointed in Harry, but think removing him is a very bad idea. He has extremely strong ties with Ethiopian authorities - I strongly suspect that if Harry goes, the Eth Gov will confiscate the licence from KEFI - bad outcome! Also, looks like KEFI minority stake in Saudi is potentially worth considerably more than TK, and funding will be easy compared to TK. Removing Harry will cause KEFI to loose momentum in Saudi - not a good outcome! I think the SP has more or less bottomed, don't see much downside from here, don't see point in removing Harry, and don't see point in selling.

Interesting interview with Saudi Minister of Mines. Recorded yesterday.
https://www.youtube.com/watch?v=rYW_DZC4tzg

Seems to be a strong correlation between negative posts and rising SP! Keep them coming.

What are peoples thoughts on timeframe for BIT claim. I’m assuming a few years?

What CB says in the interview regards GLR all sounds good based on my experience. I think the markets are missing the big picture here with the SFR carry. I scooped some more GLR yesterday. This document contains details on the all important D’Kar Formtion which hosts the huge copper discoveries, and GLR have now proven on their licences. Great news.

https://mountainscholar.org/bitstream/handle/11124/78957/Hall_mines_0052N_10199.pdf?sequence=1

C7

Apologies - I’ve been quiet for a long time because I ended up with dreaded ‘Long CV’ - four months as a zombie!

The drill results are sort of what I would expect for a reconnaissance program. As Phoenix says, the objective is to calibrate and refine the subsurface model with the stratigraphic drill results, and then once the predictive models are optimised, they will drill on high-graded targets. Only fools expect bonanza grades with first roll of the dice.

Sandfire are sufficiently intrigued with the results, and they know more relevant detail than anyone on this BB.

C7

So we won't know till later in year, if Chinese still back the project.....

"Whilst we have had no formal communication from the Chinese Government since the announcement on 22 September 2021, we are targeting formal communication on the Project's position with the Chinese authorities along with updates on other key milestones during Q4 2021, and look forward to providing further updates in due course."

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?

Who sold £16k yesterday?

Power Plant EPC Contract Signed

9 September 2021: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) is pleased to announce that the Engineering, Procurement and Construction ("EPC") power plant contract for the integrated Ncondezi 300MW coal fired power project and coal mine in Tete, Mozambique (the "Project") has been signed with China Machinery Engineering Corporation ("CMEC") at a virtual signing ceremony.

The EPC contract confirms CMEC as the main contractor to provide design, engineering, manufacturing, procurement, construction, erection, installation and commissioning of the Ncondezi 2x150MW coal-fired power station on an EPC turnkey basis. The EPC contract is valid for 3 years and subject to standard conditions being met before construction can start, including the achievement of Financial Close at the Project.

Ncondezi Chief Executive Officer, Hanno Pengilly said: "We are delighted to sign the power plant EPC contract, the main construction contract for the Project. This represents a material de-risking event and demonstrates the commitment of our strategic partner CMEC going forwards.

Together with our partners we are now focused on delivering the remaining milestones and look forward to providing further updates in due course."

CMEC President, Mr Fang Yanshui said: "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."

Christchurch - brave man! Very brave! Ive written this off now (luckily I sold half my holding over last two months). Main reason being that Hanno, even on a $240k salary couldn't see fit to buy shares, and SF £50k purchase seems nothing more than a pacifying gesture.

If CMEC were really keen on this project they would just scoop up NCCL £6mln MC and get on with it. They haven't.

CF73 - Do we actually know NCCL are in sensitive negotiations. I thought the official line is that they are waiting on approvals from EG.

I continue to hold on the assumption that there is a 60% chance of a JV (with or without TZM), or a 30% chance of a successful BIT claim (few years down the road), or a 10% chance of an unsuccessful BIT claim (could tie up funds for a few years with no positive outcome). On balance, the risk-reward is skewed heavily to making a significant profit on my investment.

OB1973 - My experience of 30yrs forming JV partnerships in the resource sector, is that it can take 3-12 months to form a legally bound JV. All depends on 1) complexity of project (size / value / location), 2) complexity of JV (how many partners / funding issues / Governments, etc) and 3) Macro landscape. I think all three are complex for PFP, and don't expect significant news for several months. Im happy to carry on holding just over 1% of PFP.

Im not an expert on such things, but wouldn't Nomad force RNS if Tariff had been agreed?

GE will get absolutely crucified if it goes anywhere near a new coal project.