Member Info for CF73

Am guessing the below link got posted long ago - apologies - but thought I'd post anyway (having just looked them up as not knowing anything about Iconia in Georgia):

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https://investmentpolicy.unctad.org/investment-dispute-settlement/cases/984/iconia-v-georgia

"Details of investment

Investments in a 2,405 m2 land plot for a real estate development project in the Vake-Saburtalo district of Tbilisi, Georgia.

Summary of the dispute

Claims arising out of alleged measures by Georgian courts and government officials to delay and halt the claimant’s project to construct a commercial-residential apartment complex in the city center of Tbilisi. Allegedly, this included attempts by local opposition to take over the claimant’s land plot, harassment of the claimant’s employees and a refusal to issue construction permits."

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Phenomenal work Looed!! :-)

Agree we can't count our chickens and that we need to be cautious. But the shift in GGs language, which we can all observe, shows material progress. It would benefit the GG to wrap this up on the pronto, as they need breathing space between now and the elections, time they need to rebuild their reputation/ cred.

Keep thinking, imagine where we would be by now if the GG hadn't been p-155ing around after the Arbi. What a waste of time, energy and opportunity.

Indeed ChrisHutch, in agreement there.

Looking forward to next week already.

GGG, you said,

"Guys they could be exercised (at nil) to drop into the mkt for immediate cash because things aren't moving as hoped."

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NCCL raised £650, 000 May 15, 2020, plus a further £74, 000 to pay certain creditors.

Company said:

"The Placing provides the Company with sufficient general working capital until the end of Q4 2020"

Financially, we are in a strong position right now and did not need the money raised via yesterday's exercising of options (though the money will be welcome am sure). However, they were there to be exercised and now they have been -- just ahead of some important news :-)

Extremely good to see a good rise yesterday. Feel we about to build from here.

Good luck to all of us :-)

Perhaps these comments are en route to a positive resolution for FRR. Certainly, words will mean nothing if that is isn't sorted and the 'what' that is required to be sorted is no secret.

What these comments show (at least, to me) is that visibility of good relations with the US is important for GG/ GD in terms of their domestic population/ electorate. And, as we haves seen, FRR/ ZM have access to the media to put the record straight, if needs be - as they have amply shown already

...great to see the SP move today. I can see this building well from here.

Good luck all!

Thanks for that chaps. I still find timing extremely positive. Why exercise now at, essentially, lows?

...We know there's important news on the near horizon, is one critical reason...

GGG, if you not on Twitter, then get on to Twitter. You can Ncondezi/ NCCL, in a tweet, and use ti ask any questions or prompt them etc.

...I see the exercise of the options as very good thing - money in bank - and a very good signal, being that they have been set at higher marks than current SP but someone is prepared to pay to exercise them and have the shares in the market, even though they just paid more than they are now currently worth on being issued and admitted to the market.

Am guessing this is because is in readiness for news and that they feel confident, as otherwise they taking an immediate hit - a loss they could have easily avoided!!

Strong positive in my view.

Glad to hear RR. Best wishes to you and family and loved ones!

Am guessing - and wider consensus seems - these Options were set at SPs at a premium to this.

Money in the coffers. But timing is of particular interest to me. Wr have Timetable and Shareholder Agreement Terms Sheet (SHA TS) due soon.

Feel that timetable should have come before SHA TS. SHA TS was due for completion in the 'coming weeks' - that was June 19th, now two weeks ago. So we are now very close to some BIG news.

GGG, share your frustration.

At the minimumm, we should be trading above 5p right now - equating to £17million market cap, barely anything in the scheme of things. All of this would be so much easier to deal with if we had even slightly improved SP. And yes, Hanno does need to navigate through this quickly and effectively. I do think this was out of his control. But I also do think it shows on his, regardless. Could see in the Proactive interview, that he was not pleased. Nevertheless, it is on he needs to prove himself. And am confident he will.

We have news of the new timetable due soon, and the Shareholder Agreeemnt Terms Sheet. So there is a lot just in the near term.

Good luck to us all!

GGG, if you are that lacking in trust in the Chinese State and in Africa, not sure what you aredoing investing here, to be honest.

I take a great deal of solace from the fact are partners are significant. This is what marks the difference between NCCL and Edenville/ KIBO.

We have progressed enormously with CMEC/ China and GE, to the point of a binding JDA. Our largest shareholder, AFC (holding 15% of our stock), is a specialist in infrastructure development and financing in Africa.

These sorts of projects do eventually get off the ground, and Ncondezi will get developed, built and operated. It has coprrate and political weight.

I do not see anywhere on AIM, where another company doing a similar kind of project, has the same degree of support, with a ***Binding***JDA in place.

Read the finer detail of the comments in those articles. You will see they chasing the same as they were before, only with minor readjustment to EDMs management -- that is all.

As I have said, I am very confident.

GGG, I get you annoyed about delay and you have a right to be. I am also, and others. We can see that Hanno himself was.

What we have with recent news articles is a confirmation that they are continuing with their plans, all of them. PMs and the Chairman's words are very clear on this. There is no derailment - just a marginal delay (granted, in the context of this project, it appears just like another delay). However, the progress NCCL have made is genuine. We have a binding JDA with CMEC/ China and GE (via a signing ceremony in Beijing). The project is Government-to-Government. Mozambique are placing a heavy emphasis on energy and electricity in the development prospects and opportuntiies for the people and in support of the wider Southern African Development Community (i.e neighbouring countries). Moz cannot p-155 off China. There is no one else who could help to meet needs/ realise potential by building and running such large infrastructure projects. China are both first shout and backstop. We shouldn't worry, given we are working directly with the Chinese State, GE, and the Africa Finance Corporation.

Upcoming weeks and months are going to be biggies in my book, and in a positive way.

Really sorry to hear Rainbow, thoughts with you and your loved ones.

Looking at the desired 400, 000 connections per year (a hell of a lot), that continues the plan set out a while ago. They remain committed to those ambitions.

I wonder if the new Chariman was brought in because the old chair/ board/ or EDM generally, weren't achieving goals and targets?

Whatever it is, with so much happening, the new chairman has a lot to do to get a grips with all the work and progress, all the existing projects and programmes. Hanno mentioned that a (new) timetable was with EDM, for their consideration and that we would be informed subsequently. This is, I guess, the new Chairman, getting on top of the full, extensive programme and his role. Worth adding, that the Ncondezi power project will be up there as one of the absolute key priorities - remembering that NCCL's project has now gone Government-to-Government, with that signing ceremony in Beijing and the JDA now binding.

Moz remain absolutely committed. News getting closer.

We have another similar news story, carried 30th June 20.

https://www.africaoilandpower.com/2020/06/30/mozambiques_edm-commits-to-implement-key-electricity-projects/

By Sihle Qekeleshe, Junior Sub-Editor on June 30, 2020

Mozambique’s state-owned electricity company Electricidade de Moçambique (EDM) announced that it is committed to implementing projects that will ensure more people in Mozambique have access to electricity through strategic projects.

Speaking at an inauguration ceremony for the new Chairperson of the EDM board, [MDAlberto], Prime Minister, [Rosário], encouraged Alberto to prioritize the Energy for All program, which seeks to bring electrical power within reach of all citizens by the year 2030, which will require about 400,000 new electricity connections a year.

“Implementing these and other structuring projects will require from the new chairperson and from all EDM workers redoubled commitment,” said Prime Minister Rosario. He also urged the EDM’s new governing team to prioritize participatory and inclusive management, and to strengthen the partnerships between the company and the other stakeholders who act in the Mozambican electricity sector.

[...]

"Alberto guaranteed the Prime Minister that EDM is prepared to implement the projects [...]"

GGG, am in agreement that the main project is andhas to be the focus, almost too obvious to even have to say.

On the matter of Hanno not mentioning EDM Chair as the reason, I don't think it would be considered a good enough excuse to the market that we suffer delay just for that, but things ryun differently in other parts of the world. The minmum we can say with confidence, is that a strange coincidence that just as we have this reported delay, EDM, the key agency with which we are working towards one of the largest infrastructure projects in the region, happens to suddenly have a new chairman.

Also interesting that the PM comes out to reaffirm their committment to energy/ elec projects and programmes, and to talk about the task presented before this chap, and about doubling their efforts. All projects connected to EDM would have undergone this 'delay' (pointed to by Hanno in his Proactive interview, but instead presented as something to do with relevant info that was not in the public domain). PM coming out and making those announcements would have been to confirm/ reaffirm MOZ committments, with specific mention of partners, stakeholders and their importance for finding the necessary funding.

Am very confident, the more I think about it. We are close to something big, I feel, and is possibly why the chairman has been brought in.

Interesting conversation about whether or not the Arbi Doc is genuine.

Something got published. If it is genuine, and it is meant to be damning of FRR, why has it not left FRR sturggling in light of the overwhelming evidence? Why has the publication of genuine Arbi Doc (that's if it is genuine) not left us with a weaker hand for it?

Has been said already, whatever the immense detail contained within the body of the Doc, what matters is the judgement and the instructions that were handed out. By the time of that judgement being handed out, everything else in the Doc is history (accepting the Hope court case, leaving the detail sensitive).

We seem to have two claims/ instructions met in favour of GG (out of the 14).

One of those is the return of land/ area, possibly amounting to c.98.5%. Even if there was a material breach, the judgment directs us to what can be and is to be done about it. It makes every bit of sense to me that the Tribunal would have felt that ordering FRR to give back 98.5% of the area was sufficient penalty (leaving FRR with the area they were working). This has already been returned, confirmed now by both parties.

Regarding the second, I have no idea - except that there is something about that VAT Tax c.$200, 000 -- a small-fry issue

Other than that, there was some GG waffle about employees (likely as a result of very little else to use in argument).

Got to thank again the regulars here, especially Looed and DomFok.

The appointment of the new chair of EDM looks to have been a major contributory factor in the hold-up. What's excellent is that Prime Minister Rosario reaffirms Moz's/EDMs committment to their plans and projects and partners in place. Indeed, while the appointment of the new Chairman has slughtly delayed the process, I think it has been done because MOZ is going to be taking some major steps forward shortly, and the EDM chair is deisgned to see these through.

Just wanted to add, that while COVID has its impacts, these are very much in the immediate term. Ncondezi Power Project won't be up and running for a couple of years yet, though they will be looking to progress things racpidly from here. COVID certainly does not reduce that medium to long term need and demand. The issue of a material under-supply of electricity in contrast to development needs remains as it was. Added to that still, PM Rosario explained/ confirmed that they continued to have serious ambitions to serve the wider Southern African Development Community (i.e. neighbouring countries). In order to do that, they need a surplus of power. This in a situation where large scetions of the domestic population don't have reliable/ dependable electricity connections and supply. You can only serve your own people and neighbouring countries if you have a surplus -- and that requires '"Implementing these and other structuring projects...' (as the PM himself said).

Have significant confidence we will come out of this really well in the weeks and months. Great price to be getting in at.