Member Info for CF73

And agree about how undervalued we are at the moment. It's crazy! We have both a mine and a power plant project and are, as you point out, talking two majors. Even before news, SP/market cap should be twice this -- at least!

Well said Laxey me ol mucker!

Clark (can't remember his full ID) posted this a week or so ago; ------------------------------- "These are my views alone and anything I’ve summarised from contact with others is guesswork. I’ve been in contact with the company for close to a year now, nothing interestings ever came of it other than keeping in touch. After reading on the ADVFN about there being a closed period I spoke to them and was informed that this was indeed the case, because of the way negotiations had panned out there hadn’t been the opportunity to inform the market of anything and so had been effectively locked down ever since. We spoke for twenty odd minutes and I left the conversation with the view that next time we hear from the company would be an update on everything that has been going on. In the not too distant future too, if you pushed me for a date, I would say next week. After the call I immediately rang the broker to get their spin on it and asked why we hadn’t heard anything so far, especially after they held NCCL to the deadlines so rigidly before. He told me that they weren’t expecting to hear from the company until the due diligence was completed in April. So the company is in an unforeseen closed period, are updating the markets “in a few weeks”, and the broker aren’t expecting anything until due diligence. In short- I don’t know what I’m expecting from the update but I do have a feeling it will catch plenty out, in my opinion they are a lot further on than the bids."

Possible we could get an update some time this week. Been Dec 27th since the last one. However, the silence is and has been a good sign, that at least the bids are in and are being reviewed, otherwise the market would have been informed by now.

Making increasing sense all the time!! As Laxey and Roysie has previously pointed out, Alstom is a key element of the drive behind GE interest in NCCL and their involvement in Africa, Asia etc. See below (likely already posted by one of the trusted posters here but worth another look for sure); ----------------------- https://www.gepower.com/about/alstom-acquisition PORTFOLIO STRENGTH With the addition of Alstom’s power & grid businesses, we are now able to deliver one of the most comprehensive technology offerings in the energy sector for our customers. Strategically, Alstom and GE’s power and grid technology and geography combined will enable many new opportunities to create value for customers, with: Approximately 1,500 GW of installed base power generation, a 50% increase in GE’s current installed base. One of the broadest and deepest renewables portfolio in the industryImproved total thermal power plant design capability Broader grid portfolio with the footprint and scale to compete globally Stronger and expanded capabilities to provide project expertise and financing for power projects Big data and analytics to improve performance of the installed base Shared expertise and technology of the GE Store to drive growth.

Roughly two years on from the Thar II (Pakistan) agreement, GE just delivered the agreed hardware! Doesn't take too much deduction to work out why GE-CMEC are talking to NCCL.

Clearly, GE need to put Alstom, it's expertise and hardware to use. Up til now, the acquisition of Alstom has been seen as a problem, as a failed venture. GE can turn it around but they need projects like NCCL. No one's going to want to walk away from these negotiations without a deal of some kind.

Remembering GE-CMEC have a track record of *[correction] working together, realising projects. The link below not only shows GE-CMEC working together but involves Alstom tech - Alstom being bought out by GE a few years ago (article likely posted previously by other trusted posters); ________________ https://www.genewsroom.com/press-releases/ge-recently-acquired-boiler-technology-help-pakistan-meet-power-demand-domestic-coal "BADEN, SWITZERLAND—April 11, 2016—Today, GE (NYSE: GE) announced a deal with China Machinery Engineering Corp (CMEC) to supply two 330-megawatt (MW) boilers to Engro Powergen Thar (Private) Limited, CMEC’s joint venture with Pakistan companies for the Thar Block II Power Plant. The deal will support Pakistan’s move to use its ample coal reserves in the Thar Desert to meet power generation needs, spur economic development and bring energy security to the country." "Pakistan relies heavily on imported crude oil, diesel and natural gas with very limited energy coming from coal-fired power plants. The Thar II project supports the government of Pakistan’s energy independence as it moves to increase domestic coal use. Through GE’s recent acquisition of Alstom Power, two GE circulating fluidized bed (CFB) boilers will help deliver a total of 660 MW to Pakistan while burning the local high-moisture lignite reserves of the Thar field. The CFB boilers operate at a low combustion temperature to minimize the amount of nitrogen oxides released, providing coal-rich markets with the opportunity to reduce emissions and operating costs while increasing output."

Remembering GE-CMEC have a track record of withing together, realising projects. The link below not only shows GE-CMEC working together but involves Alstom tech - Alstom being bought out by GE a few years ago (article likely posted previously by other trusted posters); ________________ https://www.genewsroom.com/press-releases/ge-recently-acquired-boiler-technology-help-pakistan-meet-power-demand-domestic-coal "BADEN, SWITZERLAND—April 11, 2016—Today, GE (NYSE: GE) announced a deal with China Machinery Engineering Corp (CMEC) to supply two 330-megawatt (MW) boilers to Engro Powergen Thar (Private) Limited, CMEC’s joint venture with Pakistan companies for the Thar Block II Power Plant. The deal will support Pakistan’s move to use its ample coal reserves in the Thar Desert to meet power generation needs, spur economic development and bring energy security to the country." "Pakistan relies heavily on imported crude oil, diesel and natural gas with very limited energy coming from coal-fired power plants. The Thar II project supports the government of Pakistan’s energy independence as it moves to increase domestic coal use. Through GE’s recent acquisition of Alstom Power, two GE circulating fluidized bed (CFB) boilers will help deliver a total of 660 MW to Pakistan while burning the local high-moisture lignite reserves of the Thar field. The CFB boilers operate at a low combustion temperature to minimize the amount of nitrogen oxides released, providing coal-rich markets with the opportunity to reduce emissions and operating costs while increasing output."

We remain in the review stage of the process. It's where we should be and what we should realistically be expecting. The process entails ongoing negotiations. At the end of the process, there will be an agreement of some kind. Why? Because GE need this project (they haven't done particularly well over the previous few years but the Alstom deal may still pay off in terms of the expertise, tech and hardware they can now mobile across places like Africa). They really DO NOT want to lose out here. Because NCCL do not want to have miss out here. Would set them back massively. They will jointly find a way that's acceptable to all parties. The clever PIs will see/know this and be accumulating heavily at anything under 7p. I am maxed out. Biggest holding in my portfolio.

splatted, I'm surprised too. We're on the cusp of major transformational news so where is everybody?! Think prior lack of closure, here and generally across AIM where other companies have also struggled, has left folk wary. But here, this time, confident it's different. Bids being reviewed. We'll hear when they're ready. But is safe to assume bids are in and that parties remain in the process of review. As mentioned before, have had contact with the company and things seem on track. Good luck folks! :-)

Laxey, I think an update of some kind is imminent. They'll certainly be working over the weekend on this!

All I can say for the moment is that 'no news' means - imo - that a review is ongoing and therefore that things remain on track for positive conclusion i.e. that all parties want to conclude this process with a confirmed outcome/decision that all parties find acceptable. I can understand how past history with NCCL and across AIM shows these processes are not often satisfactorily closed out. Bur if those bids weren't in, we would know by now. From here, then, it's the review as due process, with frequent returning back to each other for clarity or amendment.

Mentioned some while back that if discussions prevented NCCL from wider comms, then this was more likely owing to NDAs than a closed period. The NDA meaning that NCCL were required to not disclose anything that might necessarily materially impact upon negotiations etc. I can see how an NDA related to exclusive negotiations might prevent news release until a satisfactory point is reached (or unless discussions fail to deliver a positive outcome and the process falls apart). I wonder if there's some confusion around this??

I'm not worried at all. On reflection, many of us now accept there was no necessity for an RNS on the 28th and that the subsequent purported silence was simply due process i.e. the review of bids (though under closed period conditions but that there was also an unforeseen closed period reported). If there was a problem, for example, no bids, this would've been RNS'd.

I know what you mean milke, I'm surprised too. The wait convinces me that the news we will be getting is positive, whether a JDA bindding agreement or even something else. This will come good.

Agreed badeli, sensible posting as always! Like others, confident that no news is good news (i.e. that bids are in and they are now working towards making it happen). ...not forgetting the 'unforeseen' closed period', of course... Good luck folks!

S0lis, immense gratitude for your post on the road. I've been saying something similar for yonks but you've said it far more precisely and damningly than I ever could.

Once again, if GE-CMEC have the intention to buy us out then why bother with months JV talks?? Also, last years RNS on non-binding NBO states GE-CMEC can acquire a minimum of 60%. This makes clear room for anything upwards of 60%, all the way up to, theoretically, 99%. Any talks and closed period for any amount I'm this range is to be expected. 100% takes us into the realm of buyout/TO - that's where a closed period, in our situation (in my opinion), is 'unforseen'. Good luck folks! Unless MCCL want to remain in the picture???

Indeed Laxey! :-)