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A question would be what value would specific development and/or strategic value would NCCL offer GE-CMEC by remaining in a JV? Clearly there is some, including project specific knowledge and political and beurocratic links. But for these require a JV? Indeed, GE us already involved I'm Mozambique

If GE-CMEC believe they may buy us out at some stage, then why would they engage in months of JDA/JV talks that will burn time and resources and that will ultimately amount to nothing??!!

There's no way GE-CMEC want to leave us with 40%. No way. The highest they will be prepared to leave us with in my opinion is 25%. If 20% even then what's the point?! May as well move us on and out of there. Have said all along. Agree that we are further ahead than many realise. The extended deadline had significant wriggle room. Wonder why???!! :-)

Excellent stuff ClarksMark, and superb supersleuthing!! :-)

By the way, my previous post regarding company contact and my thoughts weren't to imply they were suggesting talks around a T/O. You've just implied in order to make your point. My view about a T/O is my own interpretation. There are many clues as to why it's a genuine possibility. Cheer up :-)

I've presented a sound logical basis for why T/O will have been discussed. You don't have to engage with it - indeed, just filter me. It's very simple. Anyway, good luck to all genuine holders, even AllGuessWork!

Like others, have my own suspicions that more than the JDA is being/has been discussed.

When news lands, there will work a 40% or 50% mark up before you can buy in and probably more if you want to buy in quantity.

I have had contact with the company very recently (i.e. yesterday). They are still 'in the process' and an 'update will be released at the appropriate time.' I have no concerns at all. In fact, very encouraged. There is no delay as such. Bids are in being reviewed. News could land any time. As I said before, I'm confident that GE, in particular, will not be wanting to walk away from this deal...

The positive side splatted is that it got rid of some not so strong or confident holders. You never know, some of them may buy back in today or tomorrow for more than they sold em for. Always a tricky game that one. Good luck folks!

I will be topping up tomorrow. That's all I'm going to say this evening :-)

Laxey, taken from the link you've posted; "The steep decline in power was driven by slumping orders for giant turbines and generators used in coal and natural gas plants. GE also took a hit from a previously announced restructuring that will include 12,000 job cuts." You can see why the approached NCCL! They want and need the project on a number of levels. Not only will it enable them to find a specific project for their product (as you've also pointed out), but it will help develop their expertise which they can carry forward into other projects and competitive processes.

For example, from the article; "GE Power�s Steam Power Systems has also been cooperating with Chinese EPCs such as Energy China, CMEC and Harbin Electric International on Belt and Road infrastructure projects. These partnerships have built an impressive portfolio of case studies in countries from Angola to Ghana, Kenya to Equatorial Guinea, Iran to Dubai, Pakistan to Malaysia."

Previously posted Roysie, I believe, this article shows the proven GE-CMEC partnership. Until recently, I had no idea that this approach by GE and CMEC was following a tradition and track record of working together and delivering. But here it is - clear insight into that proven working relationship. https://www.caixinglobal.com/2017-11-29/joining-hands-for-a-brighter-future-ge-and-chinese-partners-along-the-belt-and-road-101177779.html Joining Hands for A Brighter Future, GE and Chinese Partners Along the Belt and Road Burning lights and better lives are among the clear results of cooperative partnerships between GE Power and Chinese EPCs that are strengthening every day through the Belt and Road initiative. Consider how infrastructure in developing Africa has improved through the efforts of GE Power and China Machinery Engineering Corp. (CMEC), one of China's largest EPCs. GE and CMEC in recent years have helped alleviate the shortage of electricity in Nigeria by working together to develop the Omotosho power station. Four 9E gas turbines supplied by GE were installed in the CMEC-built power plant, which has been feeding the Nigerian power grid since 2012. This and many other GE-Chinese EPCs partnership projects in Africa "have played an important role in promoting local infrastructure construction and improving people's lives," said CMEC Executive Director and President Zhang Chun. And ever since China launched the Belt and Road initiative, GE and its China EPC partners have been exploring expanded opportunities in developing countries as well as growing their businesses. Doors have opened wide in scores of African, Middle East, Europe and Asian countries targeted by the initiative unveiled by China's President Xi Jinping in 2013. Altogether, about US$ 1 trillion has been pledged for the initiative's projects. GE�s Chinese EPC revenues jumped from $0.4 billion in 2010 to $2.3 billion in 2016. It further projects EPC revenues will double by 2020. GE Power�s Steam Power Systems has also been cooperating with Chinese EPCs such as Energy China, CMEC and Harbin Electric International on Belt and Road infrastructure projects. These partnerships have built an impressive portfolio of case studies in countries from Angola to Ghana, Kenya to Equatorial Guinea, Iran to Dubai, Pakistan to Malaysia. Senior leaders such as Joe Mastrangelo, President and CEO of GE Gas Power Systems, and Andreas Lusch, President and CEO of GE Steam Power Systems, are guiding projects now under way or on the drawing board while at the same time building stronger relations with Chinese EPC partners along the Belt and Road. These relations were highlighted by Mastrangelo, Lusch and GE Senior Vice President, GE China President and CEO Rachel Duan at the 2017 �China for the World� Belt and Road Forum Nov. 2 in Beijing. This year's event was the fourth annual forum co-hosted by GE and Caixin Media. It is Ch

So we can see why GE need the project and won't walk away. Alstom has a place in this picture, in fact, NCCL's coal2power project is the beginning of a revival.

I'm confident that GE don't want to walk away from the project/deal. Just a matter of how much...

Good post Laxey Coal is not dead. Third and Developing world economies still need it. The Alstom move is a blinder. It's not that GE always get it right. They clearly don't. However, they may well have bought into Alstom with the view of getting into those places where coal was still likely to be used on large scales. Pakistan, Bangladesh, Mozamblique, and other parts of Africa and Asia. And it's worth reiterating that there are globally a number of proposed Coal2Power projects, in this current wave of renewed coal interest. Their joint-working, their scale and ability to mobilise huge investment, and their growing expertise in these sorts of projects, would enable to cover a fair share of the market in these sorts of contexts. I also agree that the less that NCCL keep, the less worthwhile it is to keep us in the picture at all - and I can't see them either wanting to leave us with 40% either. By getting rid of us they get to proceed with the project unhindered. Finally, no way GE will want to walk away from this project. They have to make up for the last few years and are clearly looking go to focus more heavily on the third and developing world. Good luck folks! :-)

Laxey, indeed, a very good point you made there...

Interesting that there was talk of an 'unforeseen closed period'. Given that they were in talks over the proposed JDA, we would naturally presume that there would be closed as a matter of course. This would be completely normal and expected. So what is exactly meant by 'unforeseen'? More specifically, what has prompted the 'unforeseen' closed period? Can't be JDA discussions as they are expected and therefore that closed period is 'foreseen'... Looking forward to the coming days and weeks...

gods, looking for possible examples of '...full vertical integration and purchased a resource, developed and run a successful mine that feeds the power plant..' -- this is new territory for them. But the fact they have entered JV/JDA talks on the basis of working on such an integrated project attests to the their intentions. That this being 'new ground' does not preclude them from being interested. We know GE engage in takeovers, including pretty hefty ones, such as Alstom. see below; https://www.gepower.com/about/alstom-acquisition You can imagine that this has given them pretty nifty insights into certain elements of the business. Indeed, they now have the technical expertise and infrastructure from Alstom (i.e. specifically around 'power and grid businesses.') which they can carry over. After the challenges experienced at Alstom since the biyout, it would one significant benefit for GE to emerge out of that acquisition. I'm sure they would want to make it count somehow and this would be a great example. But there are of course other issues, true. On the integrated coal-to-power concept, there are increasing numbers of these projects being mooted. GCM are an example (at Phulbari). GE developing that expertise along with CMEC gain a distinct advantage given their scale and, therefore, ability to mobilise investment. Given GE's problems elsewhere across the business, GE need this project and others like it. All in my opinion of course, but we need to see the bigger picture, including the previous history of GE and CMEC working together and the growing place/necessity of such projects, where there's still limited expertise but where GE-CMEC could take a decisive share of the global market, if it moves quickly enoygh. Its frequently said that NCCL's project is the most advanced Coal2Power project in Africa. So you can see why they are talking to us...this is potentially the beginning of their expansion...