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#NCCL This is an over reaction to a general comment. Those comments are not and are nowhere near formal policy, let alone NCCL having just signed EPC with CMEC - a process that the Chinese state would have OK'd.

So, as far as I am concerned, all remains on track. Nothing has changed.

Massive buying opportunity!

So sad to hear about Andy 'Bees'.

I look in on here from time to time and always look out for his posts when I do. Had noticed his absence. Really is sad news. Especially difficult when good people have held out, stayed decent, stayed resolute, but have not seen the fruits of their efforts in this lifetime

RIP Bees/ Andy

More placing shares sold. Some more placing shares to go. Usually, most placing shares not intended to be held. No forward movement in the SP until they sold and churned over some more.

Tariff news would help massively.

CMEC have said they hope to deliver the project in the near future. The infrastructure element is part of smoothing the way. Just like isolated deposits of raw marital are hard to develop and turn into mines; owing to infrastructure needs and costs; this Line (paid for by world bank and others), paves the way for the Ncondezi power project.

This news is part of a wider jigsaw, with all the pieces finally falling into place.

The award of the contract (both Part 1 and Part 2: for each side of the Interconnector project i.e. Moz and Malawi) to build the Interconnector Line is proof of serious expectation that there will be a new, major power source in Tete, where the Ncondezi power project is located (and where we are the only advanced project). Otherwise, why award the contract and move to build?

Looks to me as if they know need to approve the main Noncdezi project so they can start building ASAP so it's ready at a time when the Line is up and ready to carry the power generated.

When tariff lands, it will be easy to hold onto those shares for a bit longer :-)

This is excellent work Phil, thanks for your good work keeping up with this process and keeping us informed. Extremely positive to know that by/ at this stage, infrastructure plans are progressing well, with full intention that the Moz-Malawi Interconnector Line should be built (meaning that they are fully expecting a new power source in Tete region, where the only advanced project in sight is Ncondezi).

CMEC been saying that the hope to deliver the project in the near future. So hopefully not long now!

Hanno et al probably operating on the basis that when this lands, all will be forgiven. Which is a bang-out-of-order way of doing things.

Let's remember:

"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."

https://www.investegate.co.uk/ncondezi-energy-ltd--nccl-/rns/power-plant-epc-contract-signed/202109090700021851L/

Near future folks.

Except there are quite a number of other LTHs who know that NCCL PR stated there was no possibility of a further proactive interview as negotiations were too sensitive - as explained by me ol mucker stinkyowens, who also witnessed that comms.

Others have asked if Hanno's going to do a Proactive interview or something similar. The word is, he can't as negotiations are too sensitive.

What's the betting that certain project values have already been agreed?! ;-)

On the environmental front, if the Moz people stand to beenfit by it, they will want it and will press ahead (and China will fund). Whatever's going on elsewhere, it won't stop this project, which is now extremely advanced.

CMEC's comments show we are on the cusp of conclusion, just as others believe (i.e. 'Progress with all parties' and 'deliver the Project in the near future').

Great work hammerphil, finding that info on the award of the contract for the Interconnector LIne.

If the project was in doubt, why award and then publish news of the award of the contract?

Because the project fully expected to be happen.

Taken with today's RNS, we are now going to move very quickly to conclusion.

Can see a BIG Turnaround in perception around prospects and sentiment - including my own views about this.

Good luck all!!

None of this has deterred the World Bank investing (at this very minute) investing in and overseeing the construction of infrastructure durrindung and linking NCCLs proposed project; not has it deterred CMEC and Chinese partners, who only a couple of days ago came out syrubky in support of the project and NCCL.

In agreement BENJAN1. Bought some more yesterday. Looking for a final tranche but am already heavily in.

GGG, if you look carefully, the carefully positioned EPC Q3 conclusion, in terms of timeline, opens up the possibility of warrants or a shareholder loan. If done soon/ this week, likely before/ outside of closed period (closed periods usually commencing 30 days ahead of expected news).

Add to it CMEC full support of the process and the timeline, suggests to me that they have all sorted out some of the BIG agreements and valuations already. Hanno's reference to 'milestones' - being plural - before end of year, suggests to me this now headed towards outright positive conclusion.

One last thing. The solar project should have been ennounced end of June/ July. But nothing. Is that now wrapped up as part of the package? Otherwise, what's been keeping NCCL from announcing anything?! Or is it that most folks weren't interested, and so without news on the main project, felt that it would've gone down like a lead balloon?

Where's BENJAN1 when you need him? :-)

Very interesting times ahead and looking forward!

If we take the following:

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“Whilst Project deliverables in 2021 have been slower than expected, the Company, with ongoing support from CMEC, has worked diligently to ensure the Project is properly positioned for success. COVID-19 lockdowns and increasing scrutiny on the rationale for new fossil fuel power generation have presented added challenges this year, however the Company believes that the Project is sufficiently advanced and has the necessary support to effectively navigate them and unlock value through delivery of key milestones before year end.”

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Am particularly interested in ‘key milestones’ in the plural and ‘…before year end’.

Is this silence been broken because everything thing aligned and sorted?

That all stakeholders and partners have agreed to a time line, not just on EPC but all other areas, including FC?

Remembering this negotiation aspect has to be wrapped up soon if they want to start building the plant and coal mine (with infrastructure already progressing!).

Am also increasingly confident that certain key values (e.g. price of 60% stake to buyout) have been determined, as CMECs comments add weight to RNS and increase confidence, which would increase SP in turn.

Whatever it is, looking very good in my view.

We do have on board, as major shareholders:

- Africa Finance Corporation (AFC) who specialise in infrastructure funding and development across Africa
- Polenergia, Poland’s largest private power company

- And even Scott Fetcher, who reportedly may come into a windfall, following selling one of his companies

Between them, we could get close to our share of the project (40%), boosted by additional funding from other sources (Hanno and his family are well connected to capital).

My guess is we will have proved to CMEC especially that we would be able to pay for our 40%, meaning that they could push for an outright sale even, all in my humble opinion.

On near term funding, NCCL are working on it and we should hear soon (as per RNS). I got no concerns as am confident the silence has been finally broken for good reason.

CMEC are commiting to the EPC timeline, and so is not just Hanno and NCCL team saying. That is massive in itself.

Taking Hanno's comments in combination with CMECs

Hanno:

" [...] Whilst Project deliverables in 2021 have been slower than expected, the Company, with ongoing support from CMEC, has worked diligently to ensure the Project is properly positioned for success. COVID-19 lockdowns and increasing scrutiny on the rationale for new fossil fuel power generation have presented added challenges this year, however the Company believes that the Project is sufficiently advanced and has the necessary support to effectively navigate them and unlock value through delivery of key milestones before year end."

CMEC:

"CMEC remains committed to working with Ncondezi to further progress the Project, and continues to progress its internal investment process and engagement with the Chinese Government and financing institutions. CMEC is also pleased to report positive progress and support from all parties involved, which has allowed for a commitment to finalise the power project EPC agreement with Ncondezi this quarter."

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Hanno comments refer not just EPC, but when he says 'milestones', is in the plural, and by year end. Makes me wonder if the recent slience was about getting a lot of that ironed out first.

CMECs comments support Hannos, on EPC. Unlike historic timeline commitments, am inclined to believe this one given this one has CMECs seal of approval.

With an end-of-Sept EPC date, with that date seemingly the next key news, it means they are not within the 30 day closed period, so they can raise funds via a board/ major shareholder loan or via warrants. Hanno has said in the RNS:

"To ensure we are adequately capitalised for the next phase of the Project, we are currently considering a number of funding solutions and are confident a solution will be finalised shortly."

All extremely positive in my view!