Member Info for CF73

Lurker, appreciate your response and civility. An SP of 25p gives us a market cap of £70million. This is a monster Coal to Power project, where we start with 300MW and phase up to 1800MW. We may not get full whack for 1800MW but it will still have a value attached. On Binding JDA/FC, genuinely believe we'll be worth far more than £70million (the money in our bank - from the capital drawdown will probably be more than that, then add the value of the stake)....

If they were placing shares being sold (i.e. flipped), they would've dropped the SP. They were bang on the mid price. The overhang from the placement would've meant that 750, 000 could've been bought without shifting the SP. When placing shares have been sold, they've all been clearly below the mid price and if a number in row, have tended to drop the SP further. So buys in my opinion (having thought it through - though still open to plausible arguments against)...

There was a 750, 000 purchase a day or two ago as well. The company announcements and timeline indicate in the strongest terms that this project is happening. Can see why someone would load up -- unless they know more than we do, in which case it would've been awfully rude not to...

Earlier today and one reported late?? Look legitimate to me, be interested in views...

Actually, see what you meant gods, apologies. 4 years down the road, few of us will still be here lol Good luck all!

Gods, financial close is this year Q4

Aeasty, we are getting rid of the last of the Placement shares (they were issued at the start of May). There were also shares issued yesterday ('...1,350,000 share options granted to former employees'). Some of these were flipped immediately. We haven't got long to go get through all of these. Financial Model news will help to churn these out and give the momentum we need to move into double digits.

I have to fundamentally disagree with Lurker. That 25p prediction in light of Director Options at 15p on Financial Close? I think the Directors at NCCL know what's coming and were looking for more than 25p when they set those Options at 15p. Also, the Lamu deal tells us plenty. $400million for a 20% stake in a 1000MW power plant. We may not be completely like for like but certainly there are comparisons we can make and have made. On Financial Close, if it is JV, then we will be in the order of 50p. Once the project is up and running, with revenue/profit rolling in, then we will be multiples of that still.

Lurker, thanks for your post. Much appreciated. I have admit, from the PI perspective, I don' t believe that much of the detail you've provided is necessary. The bits that PIs need to concern themselves with, for the moment, are; 1. Ncondezi agrees NBO with CMEC and GE to acquire a minimum 60% equity stake in the Integrated Project The minimum if 60%. By officially stating it as the minimum, they are informing the market that it could be more. How much more? No one can say this moment, but I would not preclude it from being 99% or even 100% for that matter (though perhaps in the order of 10% for NCCL). I understand that you think differently, fair enough, 2. CMEC and GE to lead project debt financing in conjunction with Ncondezi for both the Power Project and Mine Project at FC This is in the finer detail and I suspect that this is already settled behind the scenes. It's not something we need to worry about to be honest (given the tineline of Milestones we have i..e they seem to know what they are doing - so just let them get on with it) 3. The Timeline of Milestones This matters because what meant to be happening and when. We can time our exist, entries etc accordingly This shows that binding JDA concludes July and that Financial Close sometime later, but stipulated Q4 2018. Its with this time line in mind that we PIs stand to make most of our capital gains. The expert finer detail you provide matters only if a) it were to present any problems in regards to the JDA/Close/timeline of near term progress (the timeline itself, its conciseness and precision, tells me 'no problems') and b) if PIs expected to hold beyiod the Binding JDA./Financial Close. In my view, the details that you describe are in hand and shouldn't really be a major concern for holders. Thanks for your contribution Lurker.

Aesty, agreed regarding news (I'm confident it'll be positive and that we'll hear soon) Also, yes, regarding that wording. Quite a number of us picked out the wording that replaced it -------------------- "Following on from signing the Non-Binding Offer with potential strategic partners on 9 November 2017, the directors believe that the Company has a clear path to de-risking the 300MW integrated coal fired power project in Tete, Mozambique (the "Power Project")." -------------------- The market knows this is happening. Just a matter if time and very soon when this pops.

Morning Stevenc72, yes, will be a good day today. Clearing sellers and flippers and then our way

Spoke to NCCL Chief Development Officer Hanno Pengilly 2 weeks ago. The Financial Review process seemed to be going very well and he was seriously relaxed. We'll be hearing very shortly. News is imminent!!

Exactly badeli and Steven. There's no delay here. It's all happening in an orderly way. Remember not just the previous RNSs about the end of May time line --- being review and sign off in/by end of May and notification some time after; but also the options RNS, which gives the strongest sense that everything is going extremely well and is on track. Last few days at these levels. Good luck all!!

Ruddy good podcast that :-) a classic!

Seems the preparation working is beginning in readiness for the power that's coming (dated May 23rd) --- https://www.esi-africa.com/mozambique-requires-consultancy-services-for-to-improve-its-grid/ Mozambique requires services to strengthen grid infrastructure The government of Mozambique has applied for the grant financing from the World Bank toward the cost of the Power Efficiency and Reliability Improvement Project (PERIP), and intends to apply part of the proceeds for consulting services. The consulting services will be provided over a three-month period and include: Review of standards currently applied by EDM for design and construction of electricity distribution infrastructure (networks with operating voltage 33kV and lower, service drops, public lighting) in urban, peri-urban and rural areas; Gap analysis with best practices in international experience in the matter, in particular in emerging (non-OECD member countries) applying low-cost technologies; Identification and detailed description of proposed standards for design and construction standards of distribution infrastructure in urban, peri-urban and rural areas, including clear definition of levels of service for each case. The Electricidade de Mozambique now invites eligible consulting firms to indicate their interest in providing the Services. Interested consultants should provide information demonstrating that the firms have the required qualifications and relevant experience to perform the services. The shortlisting criteria: Preparation of standards for electricity distribution infrastructure (networks with operating voltage 33 kV and lower, service drops, public lighting) in urban, peri-urban and rural areas, including low-cost technologies; (Design and implementation of electricity distribution projects, in particular in emerging (non-OECD member) countries. The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank�s Guidelines: Selection and Employment of Consultants [under IBRD Loans and IDA Credits & Grants] by World Bank Borrowers, January 2011 edition, revised July 2014, (Consultant Guidelines), setting forth the World Bank�s policy on conflict of interest. Consult ants may associate with other firms in the form of a joint venture or a sub-consultancy to enhance their qualifications. A Consultant will be selected in accordance with the Consultants Qualification Selection (CQS) method set out in the Consultant Guidelines. Expressions of interest Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by fax, or by e-mail) by 10:30h local time, on 29 May 2018. The addresses referred to above are as follows: Electricidade de Mo�ambique, E.P. (EDM) Social Energy Directorate (DES) Att: Mr.Joao Catine, the Project Manager Av. Filipe Samuel Magaia, N� 368 Maputo - Mozambique Email: joa

Seems the preparation working is beginning in readiness for the power that's coming (dated May 23rd) --- https://www.esi-africa.com/mozambique-requires-consultancy-services-for-to-improve-its-grid/ Mozambique requires services to strengthen grid infrastructure The government of Mozambique has applied for the grant financing from the World Bank toward the cost of the Power Efficiency and Reliability Improvement Project (PERIP), and intends to apply part of the proceeds for consulting services. The consulting services will be provided over a three-month period and include: Review of standards currently applied by EDM for design and construction of electricity distribution infrastructure (networks with operating voltage 33kV and lower, service drops, public lighting) in urban, peri-urban and rural areas; Gap analysis with best practices in international experience in the matter, in particular in emerging (non-OECD member countries) applying low-cost technologies; Identification and detailed description of proposed standards for design and construction standards of distribution infrastructure in urban, peri-urban and rural areas, including clear definition of levels of service for each case. The Electricidade de Mozambique now invites eligible consulting firms to indicate their interest in providing the Services. Interested consultants should provide information demonstrating that the firms have the required qualifications and relevant experience to perform the services. The shortlisting criteria: Preparation of standards for electricity distribution infrastructure (networks with operating voltage 33 kV and lower, service drops, public lighting) in urban, peri-urban and rural areas, including low-cost technologies; (Design and implementation of electricity distribution projects, in particular in emerging (non-OECD member) countries. The attention of interested Consultants is drawn to paragraph 1.9 of the World Bank�s Guidelines: Selection and Employment of Consultants [under IBRD Loans and IDA Credits & Grants] by World Bank Borrowers, January 2011 edition, revised July 2014, (Consultant Guidelines), setting forth the World Bank�s policy on conflict of interest. Consult ants may associate with other firms in the form of a joint venture or a sub-consultancy to enhance their qualifications. A Consultant will be selected in accordance with the Consultants Qualification Selection (CQS) method set out in the Consultant Guidelines. Expressions of interest Expressions of interest must be delivered in a written form to the address below (in person, or by mail, or by fax, or by e-mail) by 10:30h local time, on 29 May 2018. The addresses referred to above are as follows: Electricidade de Mo�ambique, E.P. (EDM) Social Energy Directorate (DES) Att: Mr.Joao Catine, the Project Manager Av. Filipe Samuel Magaia, N� 368 Maputo - Mozambique Email: joa

gods, fair enough but have to add that I'm not sure what you mean about "There's no way any deal would be done on 1800Mw given the massive additional investment required to get there..." The deal is for a project that involves "...developing an integrated thermal coal mine and power plant in phases of 300MW up to 1,800MW." So this incorporates all of what that means, including the initial phase of 300MW and then phased up till 1800MW is reached. It's not as if that 1800MW is an industry secret no-one's talking about. Its on the table even if GE-CMEC aren't paying for the full 1800MW. That 1800MW will be one of the key appeals of the project for GE-CMEC and will have some bearing on the eventual price.

Med_is, there is genuine discussion around transmission/export of power into the wider region. They are looking into the infrastructure of all of this, including transmission lines, gridding etc. To be honest, I am not too fussed about the finer details of it all from here (those aspects do not feature in our current time line of milestones)

gods, are you Lurker in disguise? Better still, are you Lurker his-self? By the way, if you look at my comment about 30MW/1800MW, you will note that I've put him (and possibly you) right :D

A number of block sells just gone through. Very likely from the Placement earlier in the month. Wonder if they're done now? Very close if not...