Member Info for CF73

If there turns out to be just one sell at GKP, over the course of the day, we know it was :D

Going to open up tomorrow. Raal shot at breaking through 0.50p in quick order.

Some one is well up for it.

Good luck all!

I'll take that. Extremely happy. Tomorrow we have a very real chance of breaking past 0.50p.

Remembering the fundamentals support this (we are after all now producing sufficient revenue to cover operational costs and pay YA, if we choose to). This is before the thing about working with two Super Majors.

Finally, ZM said in the meeting that he wanted to sort a deal as soon as possible, explaining that thing had gine very well, and that they wanted a deal, '...sooner better than later.', were his words.

The fundamentals will show through. A re-rate is well in progress here and will continue until news (and then a further series of re-rates and spikes).

Good luck all!

Lindon, interesting you put 'walked away' in inverted commas. There is nothing that suggests that they walked away.

From the interims RNS:

"The Shareholder Loan matured on 2 September 2018, however Ncondezi has received written "in principle" support from all Lenders to enter the Restructuring. Documentation for the Restructuring has been submitted to Lenders and is in the process of being finalised. The Company has received indications from Lenders representing over 63% of the Shareholder Loan that they will accept the Restructuring proposal, with no rejections. This includes Company Chairman, Michael Haworth, Non-Executive Director, Estevao Pale and Christiaan Schutte. The outstanding Lender indication is pending review of the restructuring documentation."

This implies that the same deal is on the table but that the final paper work has yet to be approved by the remaining shareholder that provided the loan.

Very specifically, that an 'in principle' agreement always needed to be followed up with the necessary paperwork. That paperwork has been produced and sent to all parties. Since then, lenders representing 63% of the value of the loan have agreed, '...with no objections.'

We are now awaiting for the remaining lender, the AFC, who own near 20% of NCCL shares in issue (and are shareholders like us), to have completed their review of the documentation. AFC by the way are a larger financial institution and is not so simple as to approve, for example, as our Chairman (who has also lent money).

And so, no, they've not walked away.

Going to have another crack at 0.50p later.

Good luck all!

Olderandwiser,

I have already said, when the JDA is out, the market will finally be able to put a value to this. Otherwise, no one can know for sure the value to NCCL (particularly we do not have the percentage numbers and, especially, any other related terms, such as what money we get back for any further % above the 60% we give to GE-CMEC).

That's why we have to come to our own decisions about what those headline figures. I take them very positively. You do not have to or can choose to wait longer for clarification.

A market cap of ££££several hundred million on its way. Talking to two Super Majors, and producing enough to cover own operational costs and payments to YA (if we chose). The more advanced Super Major has said we got more down there than we have originally said. And they've been pouring over the results of extended well testing. ZM saying possibly comparable to largest fields in Russia!

We'll crack 0.50p at some point, if not today then very soon. Remains undervalued In NDA discussions with two Super Majors, having progressed very well, and ZM saying he wants to wrap up as soon as possible. Not to mention we're producing enough to cover costs and pay YA (if we chose). Confirmed. With all if this, clear that we remain undervalued and by some magnitude

There's been little sign of fair value here, for a while. ZM/ FRR dealing with the YA situation has changed that. Now we have every chance of reaching a much fairer value, one taking account of recent news. Talking to two Super Majors, and revenue from testing is enough to pay YA (if we choose) and cover our own operational costs. Moving in the right direction now, with every possibility that we've finally moved into the 0.40p range. Good luck all!

Quite possibly...

4.6p for me.

Gor bless us all!

Some good points Aeasty, TTP and others.

When you compare NCCl with tat elsewhere, makes you wonder about the disconnect. On binding JDA, there is no reason we can't have a market of £100million +

Think more generally folks can't work out what this deal is worth (no numbers like NPV are currently in the public domain). Hence this crazy low SP. But there are some clues, annual revenue upwards of $300million, and $1.4billion tax/ royalty receipts for the government over life of the mine. They are a strong indicator to what is a very strong NPV (we won't hear about the NPV/ tariff till after the deal is sealed).

When the JDA is signed and the numbers are out, we will see the proper re-rate. That's when we will get to see a value placed on the project, including our portion of the project. By that point, it'll be hard to pick up even 15, 000 shares.

Don't think we are too far off.

Good luck all!

These are short term SP projections.

A confirmed deal with one Super Major would give us 3p minimum (thinking about market cap as the real indicator at that SP) If we sign a second Major, looking at 5p + Look at UKOG market cap at present. £107million. Has been as high as £600million when the UKOG SP peaked at 11p. A deal with just one super major here will be massive. This 1p or 1.5p by Christmas is crazy. As soon as the deal lands, well before Christmas, this will be off for good, 3p and more.

If we touched 0.48 and 0.49 on NDA but then since had any uncertainties further removed (i.e. meeting), no reason we can't settle above 0.40p tomorrow

We can see there is all this extended testing. If they are going to go in big, then they need to do that intense work to begin with. Right now they;re seeing the data, and are saying to ZM/FRR that this is serious and on a scale with the largest fields in Russia.

They know there is competition amongst the majors now.

If the JV was a for a small portion of it, would it be reasonable to think that a deal would've already been struck?

That this could be for much more, with the further advanced Super Major now itching to make an offer that shuts everyone else out?

A Super Major could buy out FRR easily enough, lock everyone else out, and proceed to explore the parts they want, and get rid of the others at their own pace...

Just trying to make sense of things...

ZM could get away with what he was saying because there wasn't anything necessarily specific or definitive. Time line was vaguely within 3 months; no flow rates; no specific identification of the Super Majors etc Instead, a lot of detail helping to show what's actually been going on, in turn making clearer the path from here. JV with one of the Super Majors likely within a very reasonable time frame and much sooner in many folks eyes than the 3 months suggested. Indeed, before end of year, at the very latest. ZM himself said he wanted a deal sorted ASAP, '...sooner better than later' (his words). Good luck all!

Super Majors was mentioned and confirmed