Member Info for CF73

GE have been tweeting about 'CIGRE 2018', counting down the days even. --------------------------- http://www.cigre.org/Diaporama/CIGRE-Session-2018-General-Programme "The international leading event for Power System industry will be gathering worldwide Experts to discuss and learn about the futur of the industry for the whole value chain, from generation to distribution." --------------------------- Wonder if they're into releasing big news ahead this 6 day event???

Thanks for that great post pyro.

I also remain open to the Gas situation :-))

The current SP belies progress made to date.

- Payment of YA on a monthly basis is a significant thing. Shows we are generating revenue and that onerous dilution is potentially a thing of the past.

- The money to develop NIKO is a significant thing. $3million to be sniffed at. Someone knows enough and wants to be involved.

- Oil being produced is a significant thing.

Two 'minor' difficulties, as of the moment, hanging over FRR;

- UD2 and Gas. Last RNS didn't paint a great picture but hasn't killed off potential on the gas front.

- Arbitration. That link/story provides some useful background, even if any further specifics are missing. Not sure it is going or the extent to which it will materially affect us.

Are those difficulties to onerous that FRR won't be able to overcome them or progress regardless?

Not at all.

Personally, I believe that next news, on those three wells, will be the key moment. Notification of those having gone well, with what we are producing and the work lined up going forward, should finally see the SP respond.

I'm not a Long Term holder but have FRR on my watch list for quite some time. News of that YA deal and money raised for NIKO were the moment I was ready to take a position.

Good luck to all the genuine muckers here.

Of course it's relevant that Zaza throws a £1million at this an not drawdown a salary. He's not out to burn whatever wealth he's got for no good reason. I don't think he's that rich that he can dump a £1million down the crapper. It's relevant because in order to make his money back, the SP has to rise; it's relevant because dilution through issuing more shares to raise funds hurts him as much as anyone; it's relevant because someone else inaccurately said he was drawing a salary out of FRR. It's relevant because regardless of what Zaza earns elsewhere, his needs for an income to survive (even if in luxury) haven't cost FRR and us holders anything.

Indeed DevonianExile (regarding Zaza not drawing down a salary), added to which Zaza is a shareholder like ourselves, with a significant holding and an average well above this. His interests are very much aligned with ours.

With Aeasty again. Believe also that Workshop's done (I sense there's a growing number of well informed folk who believe 'the Workshop' has happened). Also believe that tariff (in principle) approval in for some time now. Awaited news stacking up. But as always, up to folk to do their own research and come to their own conclusions. Good luck to all the genuine muckers! :-)

Whatever news drives FRR to an SP of 0.6p, it will be good enough to get many to hold on because it will be game changing news.

With Aeasty on this. Important week ahead, good luck all :-))

Thanks for that strongman. News imminent, I guess.

Interesting indeed, thanks for posting research and thoughts guys. Looking good from these levels.

Good luck all for tomorrow and going further forward.

Confirmation of the Ncondezi deal would be a great announcement for GE to make to the market. Binding JDA would be a crucial moment but can also see how being able to report back (when they announce JDA) on an FC scheduled in quick succession would boost the interest of the wider market (particularly in the US), demonstrating GE and Flannery's (the CEO) seriousness about their focus on a Power Division turnaround.

Good luck all!

General Electric's SP fell to a near 9year low in the last 24hours, momentarily dropping under $12 per share.

Their power division still struggling but they remain focused on it's turnaround. Projects like Ncondezi remain a very HIGH priority. Remembering that GE have bet on coal, including through their purchase of Alstom, set against a backdrop of advanced economies moving to nuclear and renewables. So much of its Power Division growth is now centred on developing/emerging markets, such as Africa and Asia.

The below is from an article just published yesterday (15/08/2018). Gives a sense of deadly serious GE are about turning their Power Division around and why they are deadly serious about Noncdezi (remembering White Paper mention of 2 x 300MW at Tete Province).

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"GE's power business continues to bludgeon the company's earnings, with its most recent quarter showing a 58 percent fall in profits from the same period last year. A turnaround in power is going "to be a multiyear fix," Flannery said. He told shareholders that GE sees "a very clear plan of what we need to do" in power, again emphasizing the company's focus on the business."

https://www.cnbc.com/2018/08/15/ge-falls-to-9-year-low-below-12-per-share.html

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The link has characters missing i.e. not complete link

Snowking, we had been exceeding throughput targets by December 2017 but grades apparently weren't quite good enough for profitability. There's also the alternative view some subscribe to which is that it was the right time to down tools, on the cusp of profitability, and ask the restructuring of the ownership of RHA. I'm in this latter camp.

When I spoke to the company yesterday, they were reluctant to talk about ZULU and KDNC''s Due Diligence, but I managed to get out of them that so far the Due Diligence had unearthed no worrying surprises. But getting them to say even that was hard work, they commenting also that it was really a matter for KDNC (which I guess is true). I'd spoken with them a month previously about ZULU and KDNC, being told we would hear about now. So I guess, news imminent.

Thanks Micro for that link. If they are to talk about ZULU in any detail, wonder if the RNS is to land soon?

Rising tungsten price means there's an interested market. Given our comparatively low production costs, we can afford to undercut and be very competitive (and still have our margins). So there'll be someone taking RHA product off our hands. Don't think this will be a problem at all.

Mushty, that thought crossed my mind yesterday, even following my conversation with the company. The money they've raised is the working capital we need at RHA, with ZULU being taken care of with KDNC. We're back into operation at RHA in weeks. GR knows the state of affairs with it better than anyone. Holding 90% of a fully operating, profit making mine is significant, especially when we think about our current market cap and the upside from here.

As I've said already, as far as I'm concerned, in principle tariff approved and Workshop out the way. We're at subsequent stages, meetings, paperwork (remember Hanno''s comment 'All materials prepared'), legal matters etc. This is how I see it. Others need to come to their own conclusions.