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The workshop and subsequent meetings are seemingly designed to bring together discussion on not just tariff but also on PPA and FC (perhaps also serving one or two othwe purposes). So they're bringing it all together. JDA isn't necessarily based on PPA or FC, or final tariff approval (only in principle tariff approval required, as Med_is mentioned). But GE, in particular, deadly serous here and so this is being properly. I stand by what I've said. As far as I'm concerned, 'the Workshop' has happened. In the podcast, Hanno said they had meetings planned in August, that they had a busy August. He hadn't said there was a Workshop planned or that the Workshop was still to happen. Why avoid mention of 'the Workshop' when it was clearly stated in a very recent as a key event scheduled for early August? If the Workshop was still to happen, then why not mention we have 'a Workshop', 'the Workshop' or 'number of Workshops' planned in August in latest podcast? Why has the language moved on to 'meetings' from 'Workshop', if that Workshop hasn't happened? As I said in an earlier post, we haven't heard because they're not ready to return to the market with the outcome (likely because there's probably other processes being initiated and/or concluded). I may be wrong, may be moles off. But I'm happy with my own interpretation. Folks can make up their own mind.

Agreed Med_is, had noticed it and had intentions to return to it (transcribed entire interview last night) but you've saved me the time and trouble with your to the point post :-)) Thanks me ol mucker.

Aeasty, did notice that. Arr man Hanno likes dropping those clues LOL. As many of us believe, not a question of 'if' or 'when' but 'how soon' ;-)

Had a go listening to and transcribing Hanno’s podcast.

For the moment, I’m picking this part out;

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“At the moment, things are progressing as planned. We have meetings planned in the month of August. I think it’s just a case of getting all the teams together [10:00]. The materials are all prepared. And I think August is going to be a busy month for us, working with the government of Mozambique as well as the state-owned EDM to finalise the process to move forward. All looking good at this stage. I guess all I can say, is that we will update the market at the right time, when we have the information we need to provide. But all progressing well at this stage.”

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I believe that by now ‘the Workshop’ has happened. They said at 26th July update, “Further updates will be provided after the Workshop has been concluded.” In the today’s update, they have said “We have meetings planned in the month of August.” These could be/are likely subsequent meetings. I don’t think today’s RNS or Podcast would have contained mention of ‘the Workshop’ having been done (if it had been), as otherwise you could imagine everyone wanting to know what came out of it (and clearly they’re not ready to say anything). I don’t think a process as serious as this one, involving NCCL, GE and CMEC (no less), and the Mozambican government and one of its leading utilities, would be working towards an ‘early August’ workshop, where there hadn’t been actual date fixed and in everyone’s diaries. I mean you don’t leave till last minute, suddenly pull out a date of the hat and expect folks to be attending with their best and most senior figures. But I accept the Workshop could lead to other meetings and processes.

Also, worth noting Hanno saying, “…number of processes going in parallel. One of those processes was the shareholder loan.” In other words, the loan restructuring is a parallel process to JDA. It is not, technically, part of the sequence to JDA; as part of, for example, GE and CMEC’s due diligence. In other words, the JDA is not subject to it (even if restructuring the loan, especially by the terms described, is clearly beneficial for NCCL and puts us in a stronger negotiating position).

We could well hear about binding JDA before the loan issue is settled. If we look to the Options RNS, and to the sequence of Options, the restructuring of the loan came after Binding JDA, meaning that this was the expectation at the time. So the idea we could still hear about binding JDA soon, while the loan is being restructured, is not crazy or unusual. It was what NCCL were expecting in the first place.

That said, the loan restructuring terms, as described today (extension of 12months at 12%, down from 25%; or conversion to equity at 10p), is excellent. Representatives of 60% of the loan have agreed and can see AFC agreeing too (NCCL’s Hanno saying, ‘…confident that we will get that across the line.’).

FWIW, good l

Just managed a listen... This is happening and these SP levels are utter theft... There's no doubt that a binding agreement is about to happen... Should be beyond a doubt that it's a question of when and not if, with the when being some time in the near term. If, as before, binding JDA precedes PPA, FC etc. then we don't have long to wait for JDA (with current meetings designed to finalise entire process and reel it in, with FC probably a lot sooner than was suggested at the stage of the Options RNS). Good luck all! :-)

Listening tonight and thoroughly looking forward!

...if you was Michael Haworth, chairman and insider, and you was owed $300, 000 by the company, would you agree to convert the loan to shares at a +33% premium to current SP if the deal wasn't clear cut and a near term prospect?!?!

Aeasty, exactly, the loan arrangement is a massive signal, all sorts to be read between the line --- fill yer boots indeedy :-))

Summatt tells me they're very happy to convert those loans to shares. 400% or 500% instead of 12%. Who'd say no?! They couldn't ordinarily buy those shares owing to being insiders and closed periods. Bullish as bullish could be.

The Shareholder Loan conversion was never going to take us to 15p etc. And folks are perfectly free to trade it. The key thing is its pointing us to an overall conclusion on the loan(s) that would otherwise be a massive issue. Those who are well researched on NCCL will understand that parties representing 60% of the loan have accepted and that the other key lender is the AFC (Africa Finance Corporation - look them up - my view is they brought GE and CMEC to the table at NCCL), who already hold near 20%. Now why would they problematise their investment?? Anyway, enough of this.

This not a placing at NCCL. It's basically the right to convert the loan, which they clearly will i.e. 12% or 400 or 500%. What would you do? It's clear this has been engineered for maximum benefit for key shareholders at NCCL, showing massive news about to arrive. It's not a placing because it also involves the largest holders, all of whom are LTHS. With upwards of perhaps 40% between them. Up till now, they've not been able to add owing to being insiders and closed periods. Finally, NCCL are funded to June/July next 2019. I also hold here and see KIBO in a positive light. But NCCL are moving fast and significantly

Forget 12% interest -- think abut 400% interest this way :-))

Well put Dandy, indeed, converting that loan to shares at 10p is in effect to take the loan and turn it into an investment, at 10p per share. Means BIG news coming...HUGE news in fact. They get a better deal this way :-))
[They could never buy that amount of shares at this stage as they'd be in a closed period and in fact have been for your yonks!]

Absolutely Aeasty, absolutermon me ol mucker!

...all I am going to say :-))

*explicit, not exploit lol Good luck all!

The RNS reads, -------------------- EDM has requested a detailed workshop session (the "Workshop") with the Company and its potential strategic partners to work through the updated tariff proposal and agree critical next steps following receipt of the Proposal and initial meetings held in July 2018.   ·      Workshop timing is planned for early August 2018. -------------------- I can only go on what the RNS specifically contains. There is mention of '...a detailed workshop session.' That '...timing is planned for early August.' I'm not sure how long these things last necessarily but the RNS points to only one such event ('the Workshop' as they called it). Granted, that session may initiate a number of others. But this is not exploit. We just see reference to a single event, proposed for early August. Finally, the JDA, as per earlier guidance, only required in principle approval of tariff as the final piece of due diligence (some of us believe this is already in the bag). As far as I can tell, this remains the case. Don't think I've been over extrapolating. But others may disagree.

Building nicely towards the weekend. My own interpretation, but a workshop described as scheduled for early August means that once this Friday's done, so is the workshop (any later and we're nearing mid August. And you certainly don't say early August in an RNS informing of a 'delay' and not achieve it the new near term schedule/ time line (personally feel the workshop was agreed well before, commencing out of those tariff related meetings and discussions that were meant to kick started early July). Closing in, good luck to the muckers and non muckers even.

S.Y.M, awesome you used the term Mogadon :-)

The news could literally land any time now.