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I believe very much that NCCL and GER-CMEC are closing this JDA out in the most orderly way we'll ever see on AIM. Looking at the recent RNSs, it is my opinion that most of the things that ha e recently been approved and that await approva in the coming weeks, have already agreed and that news is being released in a carefully ordered way so as to ensure an orderly market and no crazy volatility or even stock bashing. The podcast, for example, see Hanno's mention of the financial model and tariff. That level of confidence and enthusiasm tells me that it's nailed already. News this month and regularly, as per podcast, until close out.

Let's see this part again: "We're hoping to have the financial model signed off in May. We will then go to government in June. And then subject to all the necessary approvals, from government, to move ahead, we should then be a in a solid position to finalise the Joint Development Agreement with our partners in July. Lots of news flow. Lots of work to do over the coming months. A very exciting period for us." This is from the most recent podcast, a week or so ago, following the most recent RNS updates.

��we have now submitted our model to our partners who are reviewing the results of that model. There will probably be some more optimisation discussion to see if we can further improve on certain things, and there�ll be probably some Q&A sessions on the results as well. The objective is to get sign off from our partners, on the results of the model. At which point we will submit it to government, to get support for the new tariff envelope. In terms of timing, the good regular news-flow coming. We�re hoping to have the financial model signed off in May. We will then go to government in June. And then subject to all the necessary approvals, from government, to move ahead, we should then be a in a solid position to finalise the Joint Development Agreement with our partners in July. Lots of news flow. Lots of work to do over the coming months. A very exciting period for us.�

Transcript from NCCL/Hanno podcast; �Updating of our integrated financial model, to reconfirm the project economics. And really critical to that process was receiving updated EPC and O&M from our partners. EPC and O&M is a power term for basically the CAPEX and OPEX assumptions that go into your financial model, and then provide you with the project economics and crucially your tariff target envelope to deliver on those economics. And really this is a major milestone for us because we�ve basically received the information over the course of he last two months, we�ve now been in a position to update the financial model, get a sense of how big is, what it�s returns look like, and what sort of tariff envelope we need to agree with the Mozambique government in order to receive those returns. Anyway. we received that information just over ten days ago. We�ve been able to turn it around very quickly, internally update our model. The initial results from that model are positive in that not only are we getting the target results we were after in terms of project returns, importantly we�ve come with a more competitive offer in terms of what tariff we can go back to government with, to finalise the power offtake agreement, which will be a 25year offtake agreement. And that�s been very crucial for us because it means we�re going to go back to government with a more competitive bid than we previously had agreed with government. That�s very important allowing us to drive the incentive with government to approve the project and move forward. We�re obviously very excited at this stage. �We previously work with another Chinese partner that we terminated discussions with, about this time last year. That followed a three-year project with that partner. And I�m really happy to say that where we have got to with GE and CMEC at this stage currently in the development process is further than we ever achieved with our previous partners. We�re more advanced than we�ve ever been, to date. Results are looking good. And with everything going on in Mozambique, with Tariff pressures that the region are experiencing, and for us to come back with an even more competitive Tariff, is very exciting.�

Folks should take a listen to the most recent podcast, more than reassuring. https://audioboom.com/posts/6841604-ncondezi-energy-nccl-erris-resources-eris-and-russ-mould-on-rcn-nicl-mcl

They will close out according to the timetable - and that's end of July. They have met each deadline on recent times and the news flow has been regular. They expect to submit and confirm financial model this month (and have heard that the work on the tariff envelope is going very well!). Between now and then, and the coming days, weeks and months, the SP will rise plenty. The recent fundraising was to make sure we were adequately covered so as to give confidence we can ride out delays, if there were to be any. But as I says earlier, is my belief that everything's already agreed and we are now closing out on an orderly way. Good luck all!

Yes TTP :-)

Indeedy Laxey me ol mucker! Good luck to you too Dandy :-)

LOL just posted to see your post Laxey. Keep em coming!

Thanks Dandy. I've got no problems regarding holding a smaller percentage of the project than 40%. Every percentage less than 40% we hold will equate to extra hard cash to NCCL. So if we think that £60million is what we're owed in historic costs for the mine and then there's the plant'shistrionic costs, and that's what we're getting if we retain 40%?? Then add cash for further percentages taken by GE-CMEC above the shared 60% stated (it is a minimum) and what could that come to? As others have also stated plenty, GE-CMEC aren't going to want only 30% each (making up the 60%) leaving us as the largest partner. 80% equates to 40% each for partners and 20% for us. But the moment they reduce us to 20%,;why even keep us? Why not buy us out?! Whatever deal cut, it'll be immense for NCCL holders! Whatever deal

We'll be informed of financial model, tariffs, percentages, in a carefully managed ordered way (look at how clearly and specifically the time line is laid out :-) ). I'll be adding on Tuesday

Lol Laxey, Have to agree completely, we won't be holding 40%, as per mention of minimum of 60% equity held by partners in the project on JDA signing. I have to say that I believe all this has already been agreed; project percentages, tariff etc. The placing confirmed that for me. We are now in an orderly managed formal (almost staged) close out of the process. Other than the recent placing, there isn't anything else scary or uncertain lurking. Just the final figures of the JDA binding agreement - or buyout... "Two's a company. Three's a crowd!"

I'm guessing now but I think everything's already been agreed during the radio silence, a silence which was eventually broken April 18th. It was in that update that we heard that they had £317, 000 left, enough till August, past the deadline so as not to cause panic but tight enough to perhaps justify a fundraising, if one was required/undertaken. Everything's now in place. This is being closed out in a carefully orchestrated manner. Life changing amounts on the table for some. Looking forward!

That podcast tells us that everything to date is going well (clues to tariff were extremely helpful and I guess provided to cushion the 'blow' of the raising by continuing to instil confidence about progress), almost as if much of its already been agreed but there's a time line over which certain things will be announced formally.

Been thinking it through. Reflecting on earlier comments from other posters (gods, Laxey), the timing of the placing and size, enough to see us to Sept 2019. Why such a large raising at this point? Oct 18th, 2017, raising was for £750, 000. This one's for £950, 000! At this stage?! Agree (with Laxey) that some of these may be in 'sticky' hands. Indeed, quite a high proportion of it possibly?! The recent podcast gives plenty away (including tariff calcs and financial model going well and that we are very well advanced). I'm not bothered about 6%:dilution. We have massive news on the horizon. They're closing this out and some people have perhaps just positioned themselves to do very well?? :-) All in my opinion, DYOR! :-) Good luck folks!

I know, surprised we aren't at 20p+ already. However, this is another buying opportunity. Will be adding in Monday :-)

The money raised not only sets us up with a strong negotiating position, funded till Sept 2019, but will likely ensure present negotiations run on time so we don't have to hang around till late 2019. Folk should see the incredibly position we're in and upside from here. You won't get a potential 10 x bagger with same fundamentals (most crazy 5 or 10 baggers are desperately volatile rampy shares) Find another company on AIM talking to the likes of GE and CMEC (two very serious global 'juggernauts'), fully funded for the next year and a half, and where the news flow is expected to take us to conclusion within a matter of a couple of months, to a satisfactory conclusion, but with incremental news flow likely to increase the SP in between now and then? :-) Seriously strong BUY!!

I'm fed up too with fundraises on AIM. They more often than not come at the expense of PIs. However, it was prudent they did it now rather than wait up to the last minute, as much as it pains me to accept. In the bid scheme of things, 6% dilution is nothing and we have news in the very near future. Very soon, this should all be forgotten. Good luck folks!

From the podcast; "We're hoping to have the financial model signed off in May" The fundraising wasn't expected at this stage, but in a couple of weeks we will have more concrete news. NCCL and partners are flying in terms of progress. And I'm extremely pleased about progress on the tariff envelope. This is important. We will be competitive and will as a result achieve milestone and measure. Keep with it folks!

1. The Tariff issue is key. They have to get project economics right in order to get a tariff that is both affordable for Mozambique�s Joe Public and that also provides returns for first world investment They are doing everything they can to make sure they get it right and they are seemingly on target � and are excited about it � putting NCCL-GE-CMEC to present the most cast iron case. Indeed, NCCL are probably providing GE-CMEC with significant guidance (you can tell when they say in an RNS they are waiting for more information form partners) 2. I am surprised that we have heard so early on the matter of the calculation of the Tariff and am extremely pleased to say the least 3. 60% equity minimum 4. Revenues streams of between $250million and $300million (reiterated, so great to get what is effectively confirmation of expected annual review) 5. They are further ahead than was ever achieved with previous partners. 6. �We�re hoping to have the financial model signed off in May� � more important new THIS month! 7. Finally, this is a very competitive project, and will be difficult to turn down In fact, impossible to turn down as the money required to make it happen just doesn�t happen that easy � and then combine that with a competitive affordable tariff!