Member Info for CF73

We're materially further advanced than at any time before and are a matter of weeks (4-6 weeks) away from confirmation. We know our partners are keen and deadly serious. See this picking up this week as folks start to add to/ take positions (only a small free float our there now).

The thought of waiting three or four weeks don't appeal to some --- that's all it is. In a couple of weeks, people be wishing they bought in now and had waited.

Even at a minimum, from binding JDA, we will know what GE and CMEC intend to take and what we are getting abck. The process will enable us to better value NCCL.

Remembering that 20p = £57million -- which seems awfully low to me.

Regarding FC, Financial Close, that is when we get to hear about certain other specifics, such as tariff. What GE and CMEC intend to take by way of stakes in the project has to be set out within the 'Joint Development Agreement' - the clue to this is in the very title...

On Binding JDA we will hear what percentage GE and CMEC take of the Project and about what historic/ back costs we get - reputedly, somewhere between $40million and $60million.

Imagine even at the lower end, that's $40milllion set against a current market cap of £14million

Remembering tha a 20p Market Cap = £57million (set against minimum historic back costs of $40million).

Remembering, critically, that according to the 60/40 split, we emerge out of that JDA - if those 40% terms apply - with 40% of the project, where GE and CMEC will lead on financing with our support, where we are already working with the Africa Finance Corporation (AFC), who happen to be our largest shareholder at arond 19%, and who finance/ fund such infrastructure, mining and energy projects across Africa, and who have helped to realise quite a number of projects across continent, and who we hear will be in the funding mix for the Nocndezi Power Project.

The difference between us and KIBO, for example, is very clear (sad to say, as a lot of good folks underwater there).

This is the time to buy NCCL. Further derisked now we are onto the final stretch to binding JDA. Won't bet getting much cheaper than this from here.

Lurker, it was tosh. Yoy said possibly no numbers yet in the podcast Hanno confirmed 60%. You've been trying deliberately to muddy the waters me ol mucker spreader. And then you come back with more waffle.

Whatever happens, we will hear, as part of binding JDA, that they have taken a minimum 60% and how much we will be renumerated/compensated in return.

What tiosh lurker.

Even in the partial transcript I've posted, he discusses the 60% as being an involved element of the JDA. It should go without saying that he cannot discuss any more. Not even to say that there may be opportunity for the partners to whether it will be 60% or something else

See the below partial transcript.

"…message that our partners – General Electric and CMEC – have confirmed now that they have the necessary information and support from Government to progress to binding agreements on the transaction to acquire 60% of the integrated power plant and mine."

The podcast was clear, supporting this morning's RNS.

Prior discussions regarding the timetable were always meant to lead to moving on to the JDA. They are clearly doing this. Nothing else. Exactly what we should have been expecting as the outcome of the process of timetable discussions -- i.e. moving onto completing the JDA.

This is what I took from the podcast, and sums things up very well.

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“…message that our partners – General Electric and CMEC – have confirmed now that they have the necessary information and support from Government to progress to binding agreements on the transaction to acquire 60% of the integrated power plant and mine. And that’s really the Joint Development Agreement, the JDA. This is the main milestone to derisk the project.”

“…the company’s focus can turn 100% to finalising the JDA.”

“Historically, we’ve to get through other key milestones, to get to this point. Basically, it was a number of things to confirm the commercial and economic attractiveness of the project, as well as establish that the project had, besides being economically feasible and attractive, but also being able to demonstrate to our partners that this project is supported in Mozambique, and has the necessary support to give them comfort to move to the next phase with us."

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Not sure what the negative is there (seems some may be suggetsing there is one). This is happening. Folks should be loading and relaxing. They're giving plenty of notice that it's going well and that it ain't going to be long :-)

Binding JDA will give us the details we need to attribute proper value to NCCL. All in a matter of weeks - time to load up and relax :-)

Just tried to add some more but struggling. Suspect orders being filled.

Don't see what's poorly worded TonyBaby.

Partners are happy for the process to move to finalise binding JDA, all expcted to still happen within the projected Q1 timeframe.

What matters is the JDA and that's on. The wording of the RNS does not show to me there is any issue there.

Agreed that the SP should not be at these levels. Folks should be hoovering them up. Will pick up soon enough :-))

Great news today -- JDA incoming! :-)

Looking at the following from the RNS, they are moving very qyuckly now and with serious intent. They are keen to get on with this:

"...to conclude the JDA can now move forward. All parties are currently reviewing the latest draft and timetable for completion of the JDA, although the Company does not expect material slippage, if at all, from the current target timeframe of Q1 2019 or any impact on the overall timetable leading up to first power targeted in 2023."

"The JDA is now being prioritised..."

And:

"Non-Executive Chairman, Michael Haworth, commented: "Today's announcement further reinforces the serious intent of all parties to deliver the Project, one of the most advanced power development projects in the region. The positive meetings with the Liaison Committee have set the final stage for the Company and its potential strategic partners to conclude the JDA, a material de-risking event for the Project which will formally set out the terms on which the Project will be developed, funded and operated...."

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Most of the work for the JDA should've been done long time ago. Can't be muhc left at all for the binding JDA. Just formalities - including how to manage the post-binding JDA project context and market environment :-)

Very possible we could be hearing sooner than end of Q1 / March.

Splatted me ol mucker, they've only gaarn an dunn it! ;-))

Added twice this morning, couldn't resist.

This will keep building from here :-)

Good luck to all the genuine holders!

The JDA is not dependent upon the timetable. The JDA was always about the partners - especially GE and CMEC - being prepared to move into the 'binding' stage. Though connected, the timetable was always a parallel issue. The fact of the partners - GE and CMEC - saying we can now move to finalise the JDA is everythng we need to know. The JDA is fundamentally about the partnership between NCCL and GE and CMEC.

"...the Company's potential strategic partners have confirmed that the process to conclude the JDA can now move forward."

Said before there is very little between timetable and JDA. This shows it. No expected material slippage either.

Great month ahead, perhaps even less time needed than that.

Good luck to all the genuine holders!

An SP of around 0.7p to 1p very possible, if it all comes right in the coming weeks and months.

Good luck again to all genuine holders!

RHA News will see us into the 0.30p range, knowing no further further raises in the immediate term.

Zulu EPO approval - perhaps another 0.20p to that.

Zulu update, increase in resources-- depends how much proven and in what categories (inferred, indicates and measured bands etc.), but 0.50p.

Then we have Circum.

All in the space of coming weeks and months.

Good luck to all genuine holders!

Smilemore, agree regarding it pcking up tomorrow.

The dilution is now baked in and accounted for. Tomorrow and thereafter is an opporutnity to pile in while we have an artifically depressed SP -- this given we now have funds to recommence work on Zulu and funds for DD for HBR and general working capital and that there's agreeemnt on RHA, with news on specifics to come.

Will be adding over the coming days.

Had to have a serious think today. Thanks to certain folks here.