Member Info for CF73

After a long, long period of wilderness and capital depreciation, this is on the cusp of landing genuine LTHs a major recovery. GR and team have been lining things up, however clunky it's seemed from outside (and accept openly he's made mistakes), this is now poised for the mother of all rerates. The fundamentals are about to come through and about time too :-))

Yes, indeed FutureisBright, good luck to us all.

Yup, that white paper completes the picture as far as it can be completed right now. This is likely - very likely - to be bigger than we had previously thought it'd be by this stage.

Splatted, exactly, so you better get those haemoroids looked at as this is on the verge of going ballistic ;-))

Thanks Aeasty ol mucker.

RHA should fall into place very quickly from here, I believe (and am led to believe)

Good news. Will help move our projects forward significantly.

Great posts and research here last might and some serious work going on over on the twitter. Especially interested in this possible 2 x 300MW thing. If indeed it refers to us doing both 300MW, means that scalability is being taken seriously much earlier than thought (we're not about 300MW any more) and that all those earlier numbers and calculations we been playing need another look. Good luck all!

Ledsparky, you're not making summatt outta nuffink. Seriously though, you're not. Manipulation is real and chronic. And LSE need to explain how this is allowed to carry on.

Thanks Med_is, excellent stuff! :-))

Much appreciated tedoby and agree regarding being for the same reasons and hopes. Did manage to speak to the company today (Fuad). I know folks hold him as suspect but I feel he and company have moved on from the old days of crazy promises. He seemed buoyant but also realistic. They're confident RHA will fall into place. They feel this is now quite close to resolution. On Zulu, partner due diligence ongoing but they are confident of the process. News to confirm Zulu partnership perhaps within a month. By then, we should already be double the SP if not more. News of RHA breakthrough should see a significant rerate and then we have Zulu in fairly quick succession, in my opinion. Good luck all!

Excellent post on Cash position, tedoby! Great contribution, as always.

Hope you don't mind but I'm re-posting it below (just in case anyone missed it);

-----------------------------------

As far as Prems cash
ADVERTISEMENT
position is concerned it's interesting to note that Zulu Lithium Mauritius Limited ("MauCo")
start to repay its $4m loan from Prem "Premier Loan" together with any interest on receipt of the Investments Amounts from Cadence Minerals Limited in accordance with the payment schedule on a pro-rata basis.

Quote:-

"The Parties have acknowledged that at the date of the Heads of Terms an aggregate amount of US$4,064,374.88 has been advanced by Premier to MauCo ("Premier Loan") and the Parties have agreed that the Premier Loan and any interest due under the Premier Loan will be offset on a pro rata basis against the Investment Amounts paid by Cadence to MauCo."

So MauCo will obviously need to pay for the work to get to the DFS as well as the loan. But that explains the difference between costs suggested for the DFS of just over $2m six months ago to the latest of just over $5m. The 5m investment isn't just to cover the cost of the DFS it's to pay back Prems loan too.

The repayments should make quite a nice contribution to Prems income and more than likely negates to need for dilution in the near to medium term especially given Directors have now agreed to take their salaries in equity. That is other than any release that are accretive and that may be be required for growth of course which no savvy and intelligent shareholdrs should object to.

-----------------------------------

I may differ from a lot of folk in terms of my own certainty level following that podcast, especially on tariff. Have felt all along that tariff no longer an issue. Sorry to folks for banging on about it (had posted about it several times before).

Clearly this is heavy speculation on my part. I may well be miles off, on both counts.

Folks have to come to their own conclusions.

Good luck all!

Splatted, you and I may be on the same page.

Having thought through about the Project Update RNS (26 July 2018), felt that it wasn't just an ordinary delay. Like you, have noted that the August Workshop included PPA and FC discussions, informing us that a more definitive time line would emerge out of those discussions;

---------------------------------------

"Updated timetable for key milestones including the power tariff sign off, Power Purchase Agreement ("PPA") negotiations, Financial Close ("FC") and the date of first power on the grid expected to be agreed during the Workshop."

https://investegate.co.uk/ncondezi-energy-ltd--nccl-/rns/project-update/201807260700087964V/

---------------------------------------

So doesn’t feel like a standard delay. Feels like significant progress. They've just held back notification of tariff and then moved time line of JDA, in my opinion.

I base that not just on the RNS but the subsequent podcast. Thanks to those who drew to our attention that Hanno seemed to let slip that the tariff had been approved. I took a closer listen and provided a transcript of the relevant parts and posted to LSE.

Listen to the podcast from 20:25

"...the key thing is that the proposal hasn't been rejected. Quite the opposite. We've been asked to move on to the next level, with more detailed discussion on that."

And;

"...our updated proposal has been accepted..."

Then corrected very quickly to,

"...or it hasn't been signed off yet but certainly the doors have been opened to get to the next phase."

From this, I can only infer that the tariff has been approved but all parties have decided to move on without notifying us (they never said they would). If they had notified us, then can imagine that the SP would have been double this. Perhaps not an issue working towards a JDA but certainly would’ve been if there is a target price for a buyout.

Taking everything into account, I can only conclude the following;

1. At a minimum, the August Workshop is fast-tracking the entire process. Folks might remember that last year, under the Non-Binding Offer, Financial Close (‘FC’) was intended for Quarter 4, 2018. It was then rescheduled for 12-18months post-Binding JDA. Is this a signal that the earlier timetable is now back on? [I feel personally confident, as I’m sure others do, that GE want to move this on ASAP and that an FC 12 months from now, let alone 18months, is not necessary or desired]
2. At a maximum, with tariff in the bag (even if we haven’t been notified), parties have then moved to discussions that could lead to a possible buyout of the project. If GE and CMEC did want to buy out the project, then no point to the JDA. You move to next phase.

...posts gone missing...

...don't think the recent 'delay' was a normal delay.

...whatever the situation, NCCL have explained that a new timeline will emerge out of the early August workshop. This timeline will be realistic and I firmly believe they will be keeping to it (looking at what's on the table for discussion, suspect that the workshop will help focus things and fast-track those activities)...

...NCCL are further ahead than some might think...

...this is the beginning of the recovery...

...massive upside after a long time in the ruddy wilderness...

Yes indeedy Aeasty. So much to look forward to, all very near term :-)

Ruddy brilliant!

Agreed badeli that we're in a better position now than we were before. Agree too there are flashing lights in that RNS, particularly mention of workshop involving practical discussions on PPA and FC, with intention there should be a plan coming out of it. Things are going move very quickly here, very soon