Member Info for CF73

Some good posting guys!

I see SHA TS as fairly significant. At the minimum, it is valuable injection of confidence, showing commitment from partners at a time when things are sluggish. Is enough to get us past past 7p in my book. At the maximum, it could be very revealing. There is the question of why SHA TS at this moment in time.

Then we have some of that additional work, intended to be completed Aug 2020. The delay in my opinion, is about two month, meaning we are now half-way through it. Am expecting first bits of news, end of month/ early Aug.

Looking forward.

Badeli, another good post.

Am in agreement regarding CMEC (or someone else) buying us out. I work on the basis that if CMEC were intending to buy NCCL out at some stage, then it wouldn't be at the point of Financial Close. The SP at that point would be too high. Even an offer after historic costs were published would've meant an offer following a substantial rise in the SP (all of this basically meaning CMEC would end up having to pay more/ NCCL being able to argue for more, based upon the pre-buyout-offer SP/ marlet cap).

If an offer is to come and CMEC want to be able to control discussions, including the range of the offer, it has to be done in advance of any rise in SP/ market cap. Put another way, if CMEC want to buy us out and do not want to pay over the odds, then any SP rise has to be prevented (hence, potential delays?)

As a natural part of this, I can see how the SHA TS suddenly figures on the radar at the point of the Project Update announcement June 19th, whuch detemrines the '... · Project equity participation', which is about who owns what % of the project etc. Fascinating stuff!

Worth noting that NCCL have put out a rare tweet. Granted not about NCCL, but about other large-scale invetsment taking place in Moz, but nevertheless useful to see they alive. Also, and importantly, NCCL point to the investment climate in Moz remaining positive. Their mention of that is helpful, given the $1.1billion investment needed at Ncondezi (which we'll have no issue raising, imo). In the end, though, this is a tweet, with no possibility of letting out anything that could be remotely price sensitive, because it would need to be RNS'd first, and because if about the company (but not deemed price-sensitive), might still provide fuel for SP rises (which may not be conducive for discsusions from a CMEC perspective):

https://twitter.com/Ncondezi_Energy/status/1285886819473793025

Sensible stuff as always badeli.

We are nearly through half of the delay, with SHA TS (without the 'spacing', imagine what that would say ;-) ) and timetable not being subject to the majority of that delay period, so due any time - am guessing in the next week/ early Aug, latest, for this news.

The SHA TS is an excellent piece of news to be waiting for. Whatever the extent of the equity stakes taken by shareholders (CMEC, NCCL, GE etc.), it is confirmation of commitment. Can see why it is taking a but of time however, as CMEC is bringing Nconcdezi Power Project under China's Belt and Road Initiative, so is not just about getting CMEC to approve the finer points, as you say, is about two other large corporations and, expecially, two Governments.

Good luck all.

COVID through a minor spanner in the works. Was naieve - certainly of me - to think NCCL would get through this unscathed. But we are where we are.

Remain confident about news to come. Timetable and Shareholder Agreement Term Sheet due and we approach August, when we should be getting those extra pieces of work sorted.

Hanno under pressure to get this moving again. Am sure a lot of significant holders on at him about this. While these levels are chronic, we have chewed into some of the delay, and so not long to go.

Good luck to the folks here.

Indeed Looed, great work me ol muclerooni!

Excuse typos, folks, was posting from phone.

Am with Contra on this.

GD wanted to sink FRR, pure and simple. If anything, without our US contacts weighing in as they have, at this moment, we would be sunk already (and am not sure there was an earlier time to leverage this political support, as previously we were still running the gauntlet of whatever due process and then waiting on GD to abide by the outcome of the Arbitration).

GD chroncially corrupted. I wouldn't be surprised if they had something to do with the Arbitration Leak to TW and the shorting scrotii. Used to seem that Arbi.wrangly wuth GG/ GG was a wholly separate from Hope, TW etc, that they were two distinct issues. But am not sure so any more.

GD have made Georgia uninvestable. The Gerogian people are learning this, to their horror and embarassment (at least I hope).

So sorry to hear Zeps. Cannot imagine what you are going through. I hope you are able to find some sort of peace.

"The facts speak for themselves"

----------------

Yes they do. And this smacks of b ull**** desperation. From this point, GD have everything to lose and I hope it comes to pass.

This was definitely an interesting read. The investment climate is Georigia has been appalling. Companies pouring in resources and working as hard as is possible, all in good faith, to be undone by the most blatant corruption.

FRR/ ZM need to slaughter these feckers in the media. Show the corruption of the Government, embarrass the people with it, if ZM has to (being a Georgian, he has a moral and ethical bases for doing so). Make GD unelectable. Get the feckers out.

Good post GGG, as Caterham says, is balanced.

I get the frustration amongst the folks -- as a holder, I share them. But there are more than subtle differences between NCCL and the host of other AIM Casino/ Lifestyle companies; and indeed, between CMEC and our previous prospective Chinese partners.

1. Regarding AIM, few AIM companies can boast the backing of the partenrs and stakeholder we have. These are significant, having already invested time, energy and resources here, thinking especially about AFC, CMEC (i.e. Chinse State and BRI) and GE. That configuration of partners is massive and not some sort of accident. What KIBO end Edenville would have done for this?

If they, together, cannot deliver this project, no project on the continent has a hope of getting off the ground and beciming reality.

2. Working with previous prospective Chinese partners never wet anywhere - they were too small. CMEC are larger and proven. Further, and materially, this partnership has resulted in a Binding JDA being signed (signing ceremony in Beijing involving Governent-to-Government politics).

Folks should also understand that Mozambique is the subject an international statebuilding programme. This is why they have been supported in ways others have not, including the World Bank having (a few years back) seconding one of their highly regarded officials to head EDM for a period to ready it for this sort of programme (he rooted out crazy inefficiencies even corruption).

There is enormous support for the project, it will get off the ground. As others say, we will likely be bought. For a start, there is no way we will be allowed to keep that entire 40%. We will, in ny view, be left with no less more 20%. However, given the size of the project and the politics involved, we will likely be bought out 100% (GE are staying quiet - cannot help but think they will emerge as the frontrunner - we are not hearing much about them as fossil fuels is a complex subject and leaving them out for now keeps the project below the radar, if folks know what I mean)...

Anyway, good luck folks!

Agree with folks that GD/ G intransigence seems to be continuing.

On that basis, FRR/ ZM should be doing all they can to damage GD prospects at the upcoming election (including explainig to the people the likely international response to GG corruptedness, which they are i.e. Sanctions Bill etc.)

Get the corrupted b4st4rds out!

Expecting some news soon on NCCL. We know there is something about a timetable and the Shareholder Agreements Terms Sheet.

They could some separately or they could come together. Not sure. But the Shareholder Agreements Terms Sheet is really important in the near term. For me, the minimum we will be able to take from it is that all partners are commited to the project. Given the slight delay (we getting close to half-way through the delayed time period, which I count as two months, being an August we possbly hear about historic back costs etc), hearing about Shareholder Agreements Terms Sheet soon is a very good, shrewd move in my book. However, we could learn more than we expect from it. Also, was helpful to hear from the posters' contacts with the company, that there is positivity regarding the upcoming period of strong progressive newsflow. Good to see, too, the share price nudging up. Another few days and we will finsh above 4p and then we off to the races.

Good luck to all the good folks and holders!

Signifcant things in the pipeline. Recent delays and appointment of new chairman at EDM, and the " We are very excited about the developments to come over the next 6 months ....and expect plenty of newsflow between now and the end of Q4..." can't be a coincidence, in my view.

Great work Earsburn!

We are heading towards 4p and over. Not long and about time.

Solid post Pyro.

You got me wondering. If GG aren't worried and prepared to bad relations, including sanctions, on the chin, then why bother switching tone and becoming more conciliatory?

If change in PR, exercise, then st8ll shows a serious concern for damage to GG/ GD reputation.

If GD/ GG do not stop obstructing FRR, then FRR have option to return to the media, to turn the screw further. Returning to the earlier point of GD/ GG being concerned about the electorate's impression of it ahead of elections (particularly ant damaging effects of nil Western investment and sanctions in their place).

There's been excellent progress in the last two months. I can see how the previous c.15-18 months might worry us about GG intransigence. But we have them at the table right now (i.e. the silence). So possibilities are on play, in my book.

Extrader, good point. That would be interesting to know,

If you learn anything, keep us posted, thanks .

The shareholder loan has is just that, a loan that has largest been provided by NCCL shareholders, who have rolled it over without fuss several times and will do so again.

We have raised £650, 000 plus another £74, 000 to cover some debt May 15th and are funded to the ended of the year. We remain in a strong position (with in mind that we get to learn of historic back costs on Q3/ perhaps August time).

Am also encouraged to read how swiftly CMEC is moving as part of China's Belt and Road Initiative, progressing discussions on projects around the world. No different with Ncondezi.

Watch this space.

Actually, is more than just cofortimng that others are going through what FRR are going through.

Iconia is evidence of the fact of there being (within Georgia) undue. unjust, politically motivated structural and systemic barriers - indeed, prejudices - towards Western/ foreign investors (be they US, UK etc.). We could imagine what we would be saying US companies like Iconia were flying and it were just FRR getting slaughtered. So, what FRR are going through can be quite easily argued as something out of their control, outside normal business and outside due process - which I absolutely believe.

The fact of Iconia (and perhaps others), means that the US has the evidence it needs (of undue, unjust contraints on US investment) to harden its position on Georgia (I do not say this lightly as I am not natural a supporter of US foreign policy).

I continue to understand what ZM meant when he talked about '...the truth' - that, in this case, there was overwhelming evidence against GG/ in support FRR (and others), meaning it was much easier getting the political establishment on board and in signficant weight. And this is what has happened.

As others have said, let's hope the relative silence these last few days is because they are finally at the table with no daft strings or conditions attached.

Good luck to all the genuine folks here.