Member Info for CF73

*objective was to remove Hope from the board, should've said

Maybe the objectI've was to remove from the board and so they felt doing it this way was the best to achieve that?!

Was it the case that Hope also blocked fundingattempts while the Cayman court process was ongoing?

Perhaps the funding deal can now be executed. Payment guaranteed. Now go fight the trial with the $20 million as the worst case scenario but now ready to roll the evidence in full?

These are the respective comments from the last RNS. Really worth a read:

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Non-Executive Chairman, Michael Haworth, commented:

"Significant progress has been made on the JDA over the last month with alignment being reached on a majority of the commercial points. The final JDA draft is expected at any moment and the Company asks for investor patience during these closing stages. At this time, no material delays in signing the JDA are expected. The Company's successful attendance as part of the Mozambican Government delegation in China for the Second Belt and Road Forum for International Cooperation provided an opportunity to raise the profile of the Project and provide the Company's strategic partners with further support and comfort from government."

China Machinery Engineering Corporation Vice President, Fang Yanshui, commented:

"CMEC is looking forward to realising the JDA soon and believes that together with GE and Ncondezi there is strong confidence to deliver the high-efficiency and advanced Ncondezi integrated power plant and mine to bring reliable power supply to the Mozambique power market."

General Electric Power regional executive sub-Sahara Africa, George Njenga, commented:

"We look forward to concluding the JDA, the next major development milestones as the Ncondezi project will be an important addition to the Mozambique's energy mix, adding much needed capacity that will further enhance regional energy security."

That should've read, they expect '...NO material slippage.'

In other words, imminent!

According to the last RNS, they expect '...material slippage.'

Think the next RNS could be about the paperwork being finalised and now just awaiting sign off. Whatever, remain extremely confident that binding JDA will be confirmed soon. All parties are focused on this, it's their collective priority.

Money in escrow makes sense, meaning that we would be pressing for a better deal than just paying Hope / OMF off in full (Cali trial?). But if we can't, then we have the fill amount to get rid.

Yes Madp, saw that and thought a very well thought out and presented perspective.

Well it looks we've at the mknmum have bought ourselves the time we need to secure that GC loan. If we can get it, then the worst that happens is pay Hope / OMF off in full (much as it would aggrieve me that scumbag sharks may get away without having learned a lesson).

Much appreciated Madp!

That's an interest point. If Hope liquidates (though the asset has been moved but for argument sake say it's all still in there), he cannot sell to anyone else, no possibility of a fire sale etc. It would just revert back to GG.

Really helpful Madp, thanks for those details. Keep up the great me ol mucker!

Madp, sounds plausible, except I'm not sure Hope has been Naked Shorting. So far seen no evidence o fit (and I was somene who for someime susbcribed to the idea that may have). However, if he continues to want those 500million shares, then that would signal that he has (behind it all, there are truth facts and facts, things that have definitely happened, just that we aren't privvy to any of the related information, at least for the moment).

But a lof what you been saying Madp has good logic.

...we pay them the $20million they are supposedly owed...

...but, as others have said, getting the funds may have been difficult Hope on board. So his resignation has probably been te key event here, allowing to secure whichever loan and then having that as backstop going into the Califormia hearing before a jury. Meaning worst case, we pay him off and best case, he loses bad....

...is this what will bring about an OoCS?

Do believe we'll have the money.

If we have the money to pay Hope off, that establishes the worst that can happen (but we got to have the money).

If I may be allowed to interrupt,

Hope resigned because he is in the process liquidating the company to recover his loan note debt. This would be counter to his role as a director where he is meant to be looking out for FRR. If remained a director while trying to liquidate, that would be a further example of his fiduciary duties and probably the most clear. So he had to resign if he wanted to 'credibly' dismantle the company.

In the end, if we can pay Hope off by the time it matters, that is enough to get us through.

Gipps, I'll readily admit we're not in complete control here but as someone else suggested earlier, while we may not win every battle, it's winning the war that matters.

Gipps, there's been useful discussion on Hope possibly shorting. Few of us came to conclusion no evidence of it so not worthwhile pursuing as a major avenue of discussion (except it'll pop up in conversation from time to time, inevitably).

On the matter of fiduciary duties, there is evidence and hence why Kawaley erred to our way towards the end (ie strong appeal prospects), though naturally always open to interpretation.

It seems we didn't get TRO as it wasn't Cali jurisdiction given Cayman assets. If that is the case, then it's not down to us not having a strong enough case of the fiduciary issue, in my view.

Company's in a great position. Huge upside from these levels, especially given how close we are to news.

Good luck to all the genuine muckers here!

If there's a question / issue of market reaction to last RNS as in why is the SP down here, is down to the prior placing. Placings require time to absorb, churn and emerge out of, this includes churning the shares after the placing shares have been cleared. Put another way, if we'd had no Placing prior that last RNS, we would be considerably higher than here. So is not a question of fundamentals around the company itself or percived significance (or lack thereof) of the last piece of news (in fact, there was considerable buzz and positivity as a result). Just that the placing took some of the steam out of the momentum and sentiment.

...except we have proof we tried to arrange the means to be able to pay him back but that he was blocking these options until we got to a point that he was trying to default us, calling up the NOMAD and all sorts.