Member Info for CF73

Looking at this again:

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""According to the decision of the International Arbitration, we have received a positive response to all issues raised by the Georgian side, and this is confirmed by the fact that 99% of its license area has been returned to state ownership. Nevertheless, we are ready for a positive dialogue.!"

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They were always going to get that 99%. But it wasn't what they wanted to begin with. This said, it is good to know that they have recieved from FRR that 'less-useful' 99% of the area and that FRR are being allowed to continue their work on the remaining 'more-useful' 1%. GG and FRR can now meet to talk about GG concerns regarding employees ;-)

To bring this debacle to this point, we have to understand how an AIM company has been able to mobilise political support of the highest order. Am not usually up for this sort of shenanigans, but GG have genuinely been the bad guys here.

If GG agree to let the process move freely from here, with state/ GS guarantees, then FRR could and should just sell up.

Based upon those numbers, and our already $500million + investment in exploration, I think a sale price somewhere near 8p to 10p per share is genuine. Selling at 3p per shares only recoups what we have spent. Added to which, the Super Majors have been working with FRR and know exactly what is there, having produced their own internal assessments.

As much as folks are disgruntled by the lack of comms, if they been following the emerging news of last two months, in particular, it should be abundantly clear why they company hasn't told us anything. Its been proper vicious out there. ZM wasn't lying when he said, and I paraphrase heavily, they were trying crack open a nut using a sledgehammer.

This a great level to get in at. Delay news done and out of the way. Upside these levels is crazy. Have already added. Now just sitting it out :-)

Good luck all.

Phil, naturally, many of us want an earlier end to this as is possible, and so hopeful both parties can come to understanding on the pronto. However, FRR having to compromise following GG taking the p1-55 is not an easy one, particularly if the compromise means FRR giving up a hell of a lot - a degree of concession the arbi result didn'r require.

Indeed, as always it seems, us not knowing leaves thinking the worst. We may come out of this with the whole 1%.

Who knows exactly what the GG realistically expected to achieve out of this. It has damaged them and not just FRR. FRRs situation was an increasingly difficult one, being attacked as they were on two fronts, with at least one of those frints using knowledge of the other to make life even more difficult for FRR (i.e. the Shorting Scrotii).

In the context of the Georgion people, they will want to see their prospects appear good. With upcoming elections, it does matter that GG are seen to be enabling those prospects (being fundamentall tied jobs, health, wealth etc.). FRR need to pressure GG into arriving at a satisfactory conclusion ahead of the elections, when the pressure on the GG is on.

StarRage, is SIBGAE another one of your LSE accounts/ IDs?

StarRage, you an intelligent chap who knows how the market works, I will give you that.

Now, in an earlier post, you say:

"If this comes good I'll make more than most on here."

In response, I say:

"If this was your actual position, then it does not explain the lack of consistency between your approach to this company and its situation, and your supposed holding, regardless of what proportion of your entire portfolio your FRR holding constitutes. Even as we seem to have forced GG into a more conciliatory position and tone, a gargantuan achievement in light of what has been happening the last 18months, you seem not to be able to find some positive to say. You come across worried, indeed, I would say, bitter. Up till now, your cleverness with some may have been enough to mask how you are actually positioned here. However, that pretence is now absolutely crumbling in the face of news as you try in vain to find a way to articulate your position. I always knew summett was up when you were defending shorting way back. FWIW, if this does come good, I genuinely hope that it doesn’t cost you too much."

We held up well today. Points to us emerging out of the 3p range soon and into the 4p's. Cannot wait :-)

Very encouraging this. Thanks Looed.

This coupled with DomFok's most recent find, we seem to be headed towards the ending of the impasse. GG could have feccking saved us the trouble though.

Fingers crossed.

Most folks- the vast majority- are holding, if not adding. The delays are easily manageable, being work ww know we can do within a reasonable timeframe.

Added to that, we aren't far off news of other kinds, including that Shareholder Agreement Terms Sheet, new timetable etc.

So from these levels, is actually a good time get in and/ or build stakes.

Good luck all!

Thanks for that Extrader

The main portion of project funding will come from the Chinese. NCCL will have to fund their portion, but a lot of that will come from Historic/ Back Costs and Subscription Fee/ Developer's Premium (to be paid to NCCL by Partners to be then invested back into the project). What we need to raise from AFC to fund our end will be small by comparison, in the context of the wider total. Given the significance of the Partners involved and the weight they bring, and the demonstarted needss and demand within Moz and the wider Southern African Region, am sure very confident that AFC will seek to support this project above most others onthe table and will do what they need to secure the investment. Am very confident of this.

Progress made to date is enormous, incl.

1. Binding JDA
2. Work on EPC, Tariff etc.
3. Support of other investors and partners (i.e. Africa Finance Corporation etc.)
4. Relationship/ support of China
5. Relationship with EDM and wider Moz authorities.

We deserve a better valuation than where we are.

Upcoming, 'coming weeks', we wait to hear on the Shareholders Agreement Terms Sheet. This is an important step.

Respect to you Arsenal, I count you as one of the solid regular contributors.

As said, yesterday's of delays was a kick on the goolies. However, the delays are not excessive and we have 'stepping stones' in terms of intermediate news to help us get there, some of which is significant.

By the Proactive Interview, NCCL completion of additional and pre-existing work streams by August, and I believe we could hearer sooner with some. From the Proactive Interview:

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'Unfortunately, as a result fo the extended Lockdowns caused by COVID, some of these workstreams have slipped a little into Q3. However, all parties are working hard to ensure completion as soon as possible."

[And consultants working to produce reports/ responses for EDM]:

"...we expect this work to be completed, pretty much, I think, before the end of August."

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Based on the above, and the RNS comments about 'Shareholders Agreement Terms Sheet' due in the coming weeks, there is a timetable of news due in the near term will get us out of these ranges:

- 'Shareholders Agreement Terms Sheet' -- '...in the coming weeks' i.e. soon July

- EPC/ Historic Costs, 'slipped a little into Q3' -- possible July, no later than Aug (Q3 statement covers bases in case of issues, but much of the work has been done)

- Consultant Reports to EDM (all similar projects in Moz asked to produce these, not just NCCL) - before end of August (these consultants have done these reports for others and have worked with NCCL already)

So, yes, while delay, we have a lot of news due between 'Shareholders Agreement Terms Sheet' due in 'the coming weeks' (Not far away from the previously expected time frame for historic costs) and Reports 'before the end of August'.

We should see a rise out of here in due course, finally.

Going by what we now see taking place in the public domain (i.e. GG vs FRR), is apparent to me that it was alwasy going to be difficult for ZM to say anything at all -- it's ferocious out there! We got GG at one end and Hope, YA, TW et al at the other.

Accepted a long time ago that we will know when we are meant to know - even if we weren't meant to know. Am thankful though, we have a much clearer view now than we had 4 months ago, even if it remains unresolved and still fiercely contested.

BIG thanks to Looed and Domfok in particular, and also to the many other regulars. Best BB ever for a delisted AIM company (I think that's a good thing...)...

Thanks for getting badeli, always appreciate your comments!

And yes, not long before we find out. Whichever way it goes, it will be confirm partner stakes and involvement, all to the good in my books.

Badeli, looked up the 20 Oct 2017 RNS,

"Ncondezi agrees NBO with CMEC and GE to acquire a minimum 60% equity stake in the Integrated Project"

The wording suggests 60% to bought by CMEC and GE, but how much each unclear. More recent updates/ discussion point to CMEC chasing down that 60% on their own.

With an opportunity to like this, struggling to see why GE would turn down the opportunity to own some of the project, as it would bring in year-on-year revenues/ profits (resulting from coal-generated power/ their power division), something they very much need after betting on coal through that $13billion bet on coal tech after purchasing Alstom's power division. Supplying the tech and expertise isn't enough.

Is like a baseball hanging perfectly, waiting to be hit for a home run.

jdt, no probs.

Is worth adding, if Moz p1-ss off NCCL, then they've ****ed off everyone that could've made this or any other similar project happen on Moz; the Chinese State, GE, AFC, (not to mention that leading Polish energy provider/ investor).

This is not even remotely comparable to Edenville or KIBO.

Am genuinely looking forward to hearing about Shareholders Agreement Term Sheet. At the minimum, it will reconfirm the committment of all partners. At the maximum, who knows what will happen :-)

The issues we see with Edenville and Kibo do not apply to NCCL-Moz. The NCCL situation is different.

The Ncondezi Power Project has gone Government2Government. Moz officials have attended Beijing for signing etc. China through CMEC and Belt and Road is pulling the strings. When the Chinese Government want something done, it gets done.

In the examples of EDL and KIBO, if you look carefully, you will see they do not have/ never had the involvement of heavyweights such as the Chinese State and CMEC (to the point, once again, of signing ceremonies in Beijing), General Electric, or our largest shareholder, Africa Finance Corporation - see the link and paragraph below:

https://www.africafc.org/Who-We-Are/An-Overview.aspx

[..]

"AFC is an independent, majority private sector owned, multi-lateral African financial institution providing project structuring expertise and risk capital to address Africa’s infrastructure development needs. We have grown to become one of the continent’s leading development finance institutions with around US$6.1 billion of assets under management. With 26-member countries, and an investment footprint that spans over 30 countries across Africa we are a truly Pan-African institution."

AFC fund these projects ‘for a living’. It is what they do. And they happen to own 15% of our stock.

We have one of Poland’s leading private energy providers as a major shareholder. The own 8 or 9% of our stock.

Within the Major Shareholders list, 48.05% is held in tight hands (am guessing there are couple probably just outside that list, so likely 50%+). That 48% includes the 15% of the stock owned Scott Fletcher (an entrepreneur worth a shed load).

Then likely another 25% of stock in the hands of LTHs.

In total, probably in the order of 75% in [fairly] tight hands.
NCCL – and specifically, the Ncondezi Power Project – cannot be compared to any other coal-to-power project in Africa. There is no-one else in this sector has this level of backing.

Nice try though.