Member Info for CF73

Wasn't long ago that 0.40p seemed crazy low. Look at us now! 0.50p incoming

Many will agree, there'll be an immediate mark up tomorrow morning.

Whatever we close at, expect an immediate mark up tomorrow morning...

All based on actual fundamentals. Remembering where we were even two months ago, meaning the current SP, even with the rise we've had, woefully undervalues the company

...and some folks selling when we're going to break 0.4p soon and sustainably. 0.5p will go tomorrow and finish above 0.6p by end of week. Good luck all!

On this news. It's seriously significant.

I would add that it points to a more significant positive news at Block 12 well testing. These levels are an utter gift.

Good luck all!

I believe another related article (though not completely the same content) [- apologies if already posted].

By the way, check page 2 for a picture!

http://en.people.cn/n3/2018/0902/c90000-9496405.html

Chinese President Xi Jinping (R) meets with Mozambican President Filipe Nyusi at the Great Hall of the People in Beijing, capital of China, Sept. 1, 2018. (Xinhua/Pang Xinglei)

BEIJING, Sept. 1 (Xinhua) -- Chinese President Xi Jinping met with Mozambican President Filipe Nyusi on Saturday ahead of the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC).

Xi said China firmly supports Mozambique in choosing a development path in line with its national conditions and stands ready to deepen the exchanges of the experiences on governance and development.

China supports Mozambique in its efforts to pursue social and economic developments and improve people's livelihood and welcomes Mozambique to take an active part in the Belt and Road cooperation, Xi added.

China is ready to help Mozambique accelerate industrialization and agricultural modernization to strengthen its internal drive to achieve sustainable self-development, Xi said.

The Chinese president spoke of the need for China and Mozambique to advance key cooperative projects, innovate models of cooperation, and strengthen exchange and cooperation in education, culture, media and other areas.

Xi also said China supports Mozambique in playing a bigger role in international and regional affairs.

Nyusi said Mozambique is keen to learn from China on ruling party building and state governance.

Speaking highly of the Belt and Road Initiative proposed by Xi, Nyusi said he believes this FOCAC Beijing summit will effectively advance the mutually beneficial cooperation between China and African countries and push for common development.

Mozambique is ready to expand cooperation with China in areas including trade and agriculture, and strengthen mutual support in international and regional affairs, he added.

After the meeting, the two leaders witnessed the signing of bilateral cooperation documents.

Again, Hanno said about the letter that all parties thought it necessary but that it didn't require any significant negotiations. Was just a letter of support or non-binding MOU. I firmly believe that the JDA is literally sitting on a shelf somewhere just waiting to be signed. They've had plenty of time set out the details, numbers, percentages, terns etc. There's nothing from that EDM letter that should need incorporating into the JDA by this stage. I'd be surprised if there was.

Stevenc72, some thoroughly good points there. It's really interesting how this is being played - or having to be played (may be a better way to put it). Too many things pointing to this happening and soon. One thing is for sure, if the El Presidente of Mozambique is over there signing stuff, then the role of the EDM is inconsequential in the big scheme, with much more significant powers and influences driving this to a reality.

Stevenc72, thanks for sharing Laxey's research. This really is awesome stuff. Mozambique El Presidente Nyusi (along with his minerals minister), in China, signing MOUs with China... Really is excellent research and news!

Tosh, you misrepresented the issue, regardless of how you dress it.

*JDA ready to go... (once CEO in place and letter sorted)...

Dad's batty, he has to say 3 months. Due process. But if you listen to entire interview, you will see that JDA is easy to go, just waiting for CEO and letter (and CEO likely announced very soon)

Once CEO in and letter sorted, expect to see Binding JDA in quick succession. You can tell it's been frustrating for NCCL. But the RNS and podcast show this project's happening and certainly tells me that the binding JDA is coming, in the near term. Hanno discussed the process as a near term thing.

New CEO to be finalised in the coming weeks. But could be announced earier. They've had time to work on this. Great to get shareholder loan off our backs. Big month ahead :-)) genuinely.

Government is putting nothing on hold for the new CEO. GE and CMEC are waiting for the new CEO to be in place - which is '...in the coming weeks (to use Hanno's words) - before confirming the binding JDA with NCCL. This is a near term issue (as Hanno again puts it), one involving input of significant resources to finalise JDA (i.e. first drawdown payment). Government haven't halted anything here. This is a separate work stream to other elements involving the government. For example, there is a wider programme that more directly involves the Mozambican authorities, including around FC. It's great those discussions are taking place. They are serious about implementing the project. So there wait for the new CEO only relates to GE, CMECZ and NCCL, and binding JDA. If GE and CMEC wanted to, they could sign off the binding JDA. But I can understand their waiting so that there's a smoother transition, where the incoming CEO at EDM is present and in place. It was an issue of 'comfort' for NCCLs partners and did not involve significant negotiations, something Hanno was keen to explain. Binding JDA very much within sight. Good luck all!

"...we are at a stage where GE and CMEC are about to commit significant resources, and in particular, cash, to the project, both from a development perspective, but even in the near term, in terms of various resources to finalise the JDA."

And:

"The chairman and CEO role to be finalised in the coming weeks; after that we can expect to have the support document in place. And once that’s in place, the timetable to finalise the JDA is very much agreed..."

The installation of the CEO could come quicker than some folks realise. Dr Mangala who would been CEO had been seconded from ADB (African Development Bank). They will have known that ADB wanted him back and will have been looking for a replacement for some time.

Good luck all!

It is as simple as at what Hanno said in the podcast yesterday,

"The chairman and CEO role to be finalised in the coming weeks; after that we can expect to have the support document in place. And once that’s in place, the timetable to finalise the JDA is very much agreed..."

Believe that it's as simple as this. The deal is happening and things will fall into place in the coming weeks.

Good luck all!

Hardy, agree, can got kicked down the road a bit here, but if folks look at the finer details, we are inching towards the final JDA confirmation.

Shareholder loan restructure approved by all lenders; meaning a) the pressure around this is completely off, and b) that lenders, who are also shareholders with a total of about 35% between them, who have far more insight than us (including our Chairman Haworth and AFC), see value in the very near term, to be opting for possible share conversion (and there was strong intimation in the RNS that this is the route they will take - i.e. loan conversion to share/equity at 10p per share).

Emerging is a clearer picture. This is a massive project and going to binding JDA alone involves GE and CMEC releasing significant funds into the project and to NCCL (which Hanno pointed to in the podcast). From the podcast:

"...we are at a stage where GE and CMEC are about to commit significant resources, and in particular, cash, to the project, both from a development perspective, but even in the near term, in terms of various resources to finalise the JDA."

We are at the final stages.

Actually, believe that Hanno and company are genuine in their time lines and progress. Most will agree this is not a rampy share. I'll say again, what came out yesterday, especially from the podcast, is that this deal is very much on and happening. There are just one or two loose ends to tie up. This will happen very easily.

"The chairman and CEO role to be finalised in the coming weeks; after that we can expect to have the support document in place. And once that’s in place, the timetable to finalise the JDA is very much agreed..."

EDM and Moz Government have agreed to help with this support document, they believe it is necessary and will provide it once the new EDM CEO is in place. This is happening!

The shareholder loan is now also sorted. So that is no longer a concern. We haven't got long to wait for one of the biggest deals on AIM in a while.

Good luck all!