Member Info for CF73

OlderandWiser, GE getting in here at a point in the Joint Venture where they're able to better control things, to ultimately become joint majority partners with CMEC (they only have 20% at Lamu); Ncondezi have proposed scalability to 1800MW; and Lamu continues to be mired in political controversy as it's at a World Heritage Site, moving some of GE's institutional and other significant shareholders to ask GE to reconsider it's investment there. The combination of all of this, at least from what I can glean, make Ncondezi even more significant now.

Things have clearly moved on if NCCL tweeting about GE a few days ago. I'll add that this deal is more important to GE than Lamu, in Kenya, and significantly so.

And is perhaps announcement of tariff has been 'planned' to be close to JDA???

Agreed me ol mucker stevenc72 :-) The company must know that when the RNS about tariff approval lands saying 'approved', going to go further and doubly mental here, as JDA after that's a doddle. So not just a case of releasing the tariff approval RNS without further thought on the part of NCCL and partners... It's got HUGE significance.

But yes, in principle tariff approval sought as last piece of due diligence leading into end of month JDA

Olderand Wiser, yes, due before JDA but is now so close to JDA it makes mw ask whether or not their intention was to get Tariff approved in principle and then go to JDA (bundle with JDA, with or without detail on the specifics of Tariff - though we may not be hearing about what the tariff range may be at this stage). To be honest, who knows. Main focus for me is end of July binding JDA milestone. And we're within sight of that. Any delays there and they will tell us.

Duster, if GE and CMEC want to buy us out, feel it needs to be sooner rather than later as otherwise we become increasingly expensive. Binding JDA derisks us. So if GE and CMEC have intention to go 50:50 and buy us out, then first doing the binding JDA only serves to increase the eventual buyout price. Once Tariff approved, in principle GE and CMEC are in a position to move at that point to buy us out, if that's what they want. Time will tell. Certainly, end of month we will know about JDA unless something else Good luck all!

Much appreciated BUCHANON, good luck to you and all the other genuine muckers here. We're closing in on our JDA. Everything lined up, a week to end of month. No milestone time line yet missed. Not a single one. Tariff could come on its own at any time or be bundled with JDA. But again, only a week now to end of month JDA timeline where we get to hear about the numbers, in turn cementing value here. And not to forget to mention that both GE and NCCL have been tweeting and retweeting about each other only recently, effectively break the silence as we head towards end of July. Will be one of the biggest deals on AIM in a long while.

northcoattiger, regarding production (you mention running at 180 bpd as opposed to the target 250 bpd), is that not as a result of the already well known and much publicized issue of the shut down of the first reactor and its subsequent removal?

In other words, we know the reason for why we are not achieving the target (i.e. the Leak and Reactor 1 shutdown and removal) and it is something that can be fixed and is in the process of being sorted.

Unless you know something additional?? Can I ask if you can forward me to links/webpages or sources regards that 180 bpd?

Thanks in advance matey! :-)

Remembering this headline from May, 2018;

"American energy firm GE Power has bought a Sh40 billion stake in the Centum-fronted 1,050MW Lamu coal-fired electricity generation plant."

GE are moving an making it happen.

SH40 billion is approx $400million (for that 20% stake)

-------

https://www.businessdailyafrica.com/corporate/companies/GE-buys-Sh40bn-stake-in-Lamu-coal-plant/4003102-4566090-11crxxm/index.html

GE buys Sh40bn stake in Lamu coal plant
Thursday, May 17, 2018 10:12

General Electric chief commercial officer Steam Power Michael Keroulle (right), Amu Power Company CEO Francis Njogu (centre) and General Electric Power regional executive sub-Sahara Africa George Njenga at Intercontinental Hotel

American energy firm GE Power has bought a Sh40 billion stake in the Centum-fronted 1,050MW Lamu coal-fired electricity generation plant.

GE Power’s Chief Commercial Manager Michael Keroulle’ yesterday said the deal will see the American conglomerate allocated 20 per cent shares of Amu Power.

The fresh capital injection will be used for acquisition of plant machinery, a boiler and steam turbine generator built using GEs latest clean coal technology as well as air quality control systems.

“The technology greatly reduces emission of Sulphur Oxides, Nitrogen Oxides and particulates (dusts) to levels comparable to gas fired power plants,” he said.

Mr Keroulle’ spoke after he represented GE in signing a deal with the project’s developer Gulf Energy.

The coal plant is to be set up in the next 42 months.

It is expected to create 2,000 direct jobs and employ another 14,000 indirectly within Lamu.

Amu Power Chief Executive Francis Njogu said GE’s entry through allocation of new shares will enable Amu Power to retain its mix of shareholders notably Centum Investment Company

The firm has a contract with the Kenyan government project where it expects to deliver its power to the national grid at US Cents 7.81/kWh for the next 20 years.

“GE is at the heart of Amu Power and its latest technology will address concerns raised by locals on pollution while enabling us to efficiently produce power with the least downtimes.

“They (GE) will not only supply and install the plant but will offer aftersales services during the tenure of the project,” said Mr Njogu.

[...]

If the tech had been proven at scale, we would be ten times current market cap or more. Instead, our market cap is commensurate with where we are. For me, the company announcement regarding the isolation of the issue (leak) was good enough for me to accept that VLS tech is sound. Others may think different. If so, they'll need to decide for themselves as to their course of action here.

...whatever the 700, 000 trade, great to finish strongly in the 9p range... ...another good day tomorrow...

...hard to know splatted. Could've been a buy worked through the course of the day, with an agreed SP of 9.6p... ...hell of a lot of manipulation going on :-)

Indeedy!!

100, 000 on NEX a few minutes ago

...been some good buying. Going to be a squeeze soon if it continues :-))

Do believe this funding effectively concludes the issue for now. The fundraising and dilution (which isn't huge at all) effectively helps us forward on the basis that we have accepted the hit in terms of near term financial cost to us - but in the knowledge our tech is sound - with the possibility of the ongoing insurance claims process eventually recouping for us some proportion of that cost. Given we do not know how long it will take to reach agreement on whatever payout (i.e. the insurance claim), this was prudent.

Apart from having the funds to cover the issue and press on more widely, the key thing for me is that the company has established that its tech was not the root cause of the leak.

Line drawn, onwards and upwards :-)

Steven, I'm sure he said $250million to $300million' on annual revenues - in other words, the bottom end being even better at $250million :-)) [...upper end at $300million.] Happy to be corrected, if I'm mistaken :-)

Med_is, that post is close on post-of-the-month :-)) Good luck to the genuine muckers, who've all been mucking in - no sign of mucking around here ;-))

Agreed DHC