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Lancaster, I'd suggest you also send an email to the NOMAD. And anyone else on here who feels that Hanno hasn't been providing the market with relevant and up to date information on their investment, as is his responsibility as the ceo of a listed company. Even the worst managed AIM companies I've seen have at least provided investors with reasoning and forward guidance on a regular basis, even when they haven't been delivering on their promises. Hanno's complete lack of regard for the people who have been paying his salary all these years falls far short of what he's paid to do, and even the worst managed companies currently listed on this exchange. I'd hope that with enough emails from fellow disgruntled investors it will force the NOMAD and Hanno to address all the mysteries surrounding this project. It only takes a few minutes.

Hi Benjan, we can of course hope for such things, however it doesn't address the fact that Hanno and the bod should be releasing any and all information that can impact share price performance. Clearly they haven't been doing this, which means investors over the past 9 months haven't been able to make informed decisions on whether to buy / sell as the share price has continued to decline. Hanno was more than happy to make statements following the tariff submission to the market on when to expect the following milestones and see the share price increase on the back of such news. Since then he has said nothing as months and quarters have drifted by, only to be pressured into getting some movement with CMEC on the most overdue milestone. He then of course did a raise with existing HNWIs at 1.5p just before the news finally dropped only to return to saying nothing. He cannot avoid questions regarding the EPC contract being linked to the tariff agreement then turn around and use the tariff as the reason he cannot promote and publicize where things stand. What happens when the tariff is approved - will he say nothing and point to the PCA being in sensitive discussions...? He's obviously happy to share enough information with the HNWIs to get them to part with another £600k and keep his salary being paid, but not the market? This could quite conceivably go on for years until he pulls his finger out and starts agreeing with our partners what can be released to the market while they have their sensitive negotiations. The fact you've lost confidence in the honesty and integrity of the entire AIM market says a lot about his stewardship.

and nothing from the company. Share price continues to move back toward 1.5p placing. All because Hanno doesn't care to inform the market of anything that's going on. He couldn't be bothered telling the market of the mining license extension, which was before the secret squirrel tariff meetings. He wouldn't tell us about the many delays or when to expect milestones to be delivered until just before the recent raise, after significant pressure from shareholders. And after 9 months of waiting we finally get the EPC contract only for him to do zero PR to promote it. He hasn't said whether the EPC was linked to the tariff, but then turns around and uses the tariff negotiations as the reason why he cannot promote the milestone being completed...? All while saying it's a significant milestone and major de-risking hurdle. WTF!!!

Reality is anyone with 1m shares or more is pretty much stuck here or they need to sell at or below the historical low. Incredible really that we've never been lower, and after such a major milestone was completed. A listed company has obligations to its shareholders, including keeping them abreast of anything that's happening (or not) that will influence the share price i.e. their investment. This clown has provided a list of critical milestones that have all been missed over +6 month period and as a consequence the share price has retreated to record lows. And during this time he has provided no adequate explanation to the market as to why these milestones have been slipping, and when they're likely to conclude (if at all). Its his f@cking job to ensure such information can be released to the market. I'm suggesting that anyone who feels this continued behavior is unacceptable should contact the NOMAD, because I'm not willing to have my money sit here for another 6 months while he provides no information, only to do a 1p raise with his mates just before the next milestone is delivered. Hanno has overstepped unprofessional and sitting quite comfortably now in the dodgy category. Time for him to be called out. Him releasing business critical information is his job, and is not going to make this project fall over. That's complete horse****. If its on such shaky ground it will never go ahead given the number of significant milestones still needing to be delivered. He needs to get EDM / Moz and CMEC on board and release some statements.

Apparently they're in sensitive discussions extrader so they can't say anything to anyone, except no doubt our existing HNWIs.

Chris, they printed 10x that amount of shares. And in my experience the overhang of such raises tends to last a lot longer than anyone expects. This is especially the case in an illiquid stock, and in the absence of news. So we're likely to be here for some time given Hanno can't be f'cked telling the market about the extension of the mining permit, let alone the significance of the 9 months overdue EPC contract. And can't be bothered providing ANY information about the status of the other milestones and when we can expect news. In other words it could take quite a long time before his mates get their 10%.

Glen, hope is all we have left. Sad thing is we all expected the recent milestone to take us past 3p and onto 5p. This seemed realistic before the bargain basement raise. Now I'm wondering whether the tariff will do it. If Hanno continues to stay silent on such milestones then why should the tariff have that much more of an effect.

Regarding the EPC the key thing for me is the 'green' credentials of the power plant. This in turn supports the pro-argument for developing the project and addresses the only real negative being emissions. But we don't know anything about this, its impact on tariff approval, the early works program... the list goes on. Unfortunately for all of us it would appear that we are effectively locked into this ****show until the tariff lands. Unless of course Hanno is capable of speaking with our partners and agreeing what can be said. As I've said before, this project can't be hidden forever so they may as well start promoting the benefits of it now rather than trying to hide a billion dollar plant.

Meanwhile a dummy sell of 250k will get you 1.62p. We waited 9 months for the share price to be sitting at this level. Hanno is a f'ing joke.

Glenmorangie, my point was more that CMEC have been working with us for the past 9 months to deliver this milestone that we now apparently cannot talk about. Or any other milestone now it would seem. So the words 'near future' mean bugger all unless it comes with a timetable. At least when CMEC said they'd do something in a certain time-frame it was done though. Silver linings and all that.

Who knows when the tariff milestone will be agreed. Could be next year for all we know, which is basically nothing at the moment. And there in lies the problem. It's not ok for us to know nothing about the various well overdue commitments that seem to have been conveniently forgotten, or to know nothing about our investment. Do you have experience of other companies operating on the Wild West of AIM that have been this shoddy and shady for such a long period of time. Even the worst examples I've come across provide updates as often as possible, with as much information as possible, when deadlines are missed. What do you think of the 9 months of silence leading to extreme sp destruction, followed by deep discounted placing to existing HNWIs, then the EPC milestone dropping less than 2 weeks later, and finally silence again? Shoddy? Shady? No-one has any idea of whether to invest or cut and run. Seriously WTF!!!

You've got to be kidding. Hanno has been using that line for over 6 months on the tariff. Now he's using it for all and any milestones...? Perhaps he should discuss with our partners what can be said, rather than using a catch-all excuse for providing zero updates to his shareholders.

How do people on here feel about waiting over 9 months for the recent significant milestone to be delivered, only to have the ceo say next to nothing about it publicly? Let's keep in mind all the other milestones that haven't been delivered, with no updates of substance explaining their delays. All the while the share price reached all-time lows, only to plumb new depths from a deeply discounted placing 2 weeks before the EPC contract is signed that went to existing HNWIs (Hanno's mates and family friends no doubt). It almost defies belief that a publicly listed company is behaving in this way.

Ultimately I don't see why he cannot PR the EPC contract. Or provide a statement on the early works program. Or when the remaining milestones are expected to be completed. If this continues and we still don't hear anything this week then I'd encourage PIs who feel the same way to voice their concerns to the NOMAD as this is completely unacceptable. Hanno needs to do his f'ing job and start putting out statements on everything he can say to reassure existing shareholders on their bombed out investment in his company, and ideally to attract new investors. I cannot think of any investor that wouldn't be under water right now due to his actions and inactions.

CF, seriously your ramping gets quite ridiculous at times. Reality is we've had delays of between 6-9 months on a number of key milestones without updates or explanations. We then finally get one delivered, which is treated like a footnote and hidden. A significant raise is done on the back of the long silence to take record lows in the share price even lower. And you're now talking about remaining milestones being delivered in the 'near future'. Try defining those words for me by Hanno's actions and track record, because he looks more like a con artist when viewed from that angle i.e. based on what's actually happened and happening.

mannnan, if you want volume it will require our ceo to tell the market of the importance of the EPC contract being signed. The contract that lths have waited over 9 months to be approved. Our ceo also needs to tell the market what comes next and when. This f@cker seems to think its fine to say nothing as the months and quarters slip by, only to announce a discounted capital raise to his HNWI mates after his actions have decimated the share price. The word unprofessional doesn't quite hit the nail on the head. The only excuse for silence now is if the tariff is about to be announced in the next week. But then again what would that say about the recent raise...? I'm really struggling to think of a positive thing to say about how Hanno has managed this company and our money. Anyone care to try?

And where are the interviews...? Where's are those 'superior PR' skills Hanno claims to possess. Where are follow-up statements? Where's an updated timetable for the remaining milestones? Tariff is in excess of 6 months overdue and we haven't heard a single thing from EDM / Moz. Wtf can we expect to happen next and when? He says nothing for 6 months and watches the share price crash. Then does a deeply discounted placing on the already bombed out share price to existing HNWIs, only to drop an rns on a key milestone (already 9 months late) only 2 weeks later. And then what? Does he think it's ok to go back to saying nothing? Does he expect long suffering PIs to sit and watch their investment rot while he continues to have secret squirrel conversations with EDM and Moz and hand out bargain basement shares and warrants to his mates? Most investors are well underwater and haven't a clue about what's happening. The wider world is going to find out about this coal fired power plant at some point. It's not like a signed tariff will stop it getting canned if that's what's going to happen. Does anyone have contact details for SF? I'm keen to understand what our NED, who apparently has our interests at heart, has to say about the recent goings on.

Some decent volume at least. Having said this we need another couple of weeks of this happening. Some PR plus an idea of when to expect the tariff to be completed are key to unlocking a mini re-rate. All in Hanno's control. Let's see if he can now focus on increasing the value of the sp for long term PIs alongside the HNWIs who participated in the recent placing. Tomorrow needs to be better.

Hi Tony, I think the muted response is due to the many other unknowns surrounding this project and quite poor form from our ceo over the past few months. Having said this I did expect it to get us back to 3p, which it may still do, but it requires our ceo doing a lot more to entice investors than what he's been doing of late. And it requires more detail on what's to follow. Regarding EMO, yes I've kept an eye on it. Unfortunate that I could have doubled my money there, rather than halving it here, had I made a different choice. Funny thing is if it was listed on aim I don't think it would be valued anywhere near the current mcap. I keep forgetting how TSX and ASX value resource companies versus here.

Extrader, I don't see the point in keeping everything quiet on this project now. If it meets the strictest emissions standards, and is net positive in this regard as it replaces diesel and biomass, then Hanno and CMEC should be stating such things publicly. It's going to get noticed at some point so why not get on the front foot whilst providing a little solace to shareholders who have suffered due to their ongoing silence. There's also the interconnector line that's just been awarded. Surely they need to announce what it will connect to at some point in the near future, wo why not now?

I also think the recent placing stinks. To place that amount of shares with existing HMWIs, then announce the EPC contract (overdue by 9 months) less than 2 weeks later is complete bull****. We were sitting in the mid 2's and I have no doubt would have spring-boarded back into the 3's had he waited until after the EPC signing. In other words he could have raised at almost double the price if he waited a few weeks. Let's not forget the share price retreated from the 5's after months of silence form Hanno as well. To do a deeply discounted placing after months of share price decline to people who are effectively insiders just before a major announcement is unbelievably poor form. If I put into words what I really think about this I'd probably be banned from the site. So for Hanno to sit back and say nothing after 9 months of waiting for this milestone alongside complete share price destruction would really be a step too far for me.

Good news today. But still not good enough to shift the dial too much.

DOPW, there's another reason why the share price hasn't moved. As I've said before the recent raise has provided a fantastic opportunity for the funds who participated to have their cake and eat it too. There's a lot of loose shares that will need to be churned out of the +300m placing and they need news like this in order to find a new home. The funds got a chance to over-eat at the placing table. They can now sell their excess shares for a 10% profit whilst retaining the majority of their holding for the capital gain and divis to come. This imo is the reason why we find it hard to break 12p and news is sold into. The Telegraph article will have helped to clear some of the overhang, but as I've said all along, only the f/o will get the volume to churn the overhang quickly. The upcoming financials, divi announcement (hopefully bigger than expected) and perhaps a few more +ve well results will obviously help, but we'll still require something bigger i.e. f/o, to get us past the 15p mark and stay there. And even then there will be spikes from PIs who have joined the trading party. I'll be trying my luck with a proportion of my holding fwiw.

So in other words, you have to wait. If you have spare cash then it's also a pretty safe bet to put more into this stock as the financials are solid, Canadian acreage has now been shown to have a lot of boe in it to exploit at relatively low costs, and the f/o will have to land as sometime in the next month or two. If the f/o lands this quarter and drilling in due to begin in q2 2022 then imo you'll only have to wait 6 months to double your money (poo and gas remaining stable). But you'll also get a divi for your time. If they prove up / discover 100m+ recoverable barrels and retain +30% of the acreage then you'll triple your money or more. This of course would have been different with debt as one can see how hard it is to get past 12p due to the number of shares printed. So sit back and forget about this for a month or two. You'll make your money, but it will take a few more bigger pieces of news than this. Luckily some of them will arrive in the next 12 weeks.

Hi Tony, no the tariff agreement has always been the big milestone. It's still not signed and the market hasn't been given adequate reasoning as to why, or when it is likely to be signed. Simply 'negotiations are highly sensitive, remain positive, and we'll update the market when allowed etc...'. The tariff milestone is 6 months overdue. In the time that has passed the share price has retreated from 5p to 2.5p due to silence from the bod on this milestone and others (such as the EPC contract), before a recent placing at 1.5p taken up by existing HNWIs. All in all quite shambolic. We don't know if this milestone is linked to the tariff, again the ceo has been evasive on this question. But it's now signed and a key piece of infrastructure that would connect our project to the grid, the Moz/Mal Interconnector line worth +$50m, has also been announced. So positive news the market needs to digest, which hopefully our ceo will help them to do given the silence provided on all fronts over an extended period of time. But it's good to see you're taking an interest in this stock, or are you here for another reason?

Agreed extrader. Thing is if I focus on all the things Hanno should have, and could have done over the past few years I wouldn't be invested here anymore. Now it's time for Hanno to show off those his claimed PR and IR skills, which to date he hasn't put to use. Here's a few things I'd expect of a CEO in his position over the coming days...

1. PR the EPC contract. Book as many interviews as possible. Get as many online and print articles as possible. Ensure that everyone and anyone looking at this company understands the importance of this milestone in unlocking the project. Add spin, as all good PR professionals (and CEOs) do on such occasions.
2. As part of the above PR push, reinforce the importance of the project to one of the poorest parts of the planet alongside its 'green' credentials. Get on the front foot and already counter any environmental concerns by highlighting it will be within the strictest emissions parameters and will be replacing far dirtier forms of energy provision such as diesel and biomass. In other words this is better for the planet, and great for this part of the world in particular.
3. Highlight the importance from a partner perspective. We've questioned the commitment of our Chinese and African partners many times, now he has proof of one partner's commitment to the project.
4. PR the interconnector line being awarded and how this could be linked to our project. It's now common news so he should be free to point out the infrastructure our project would use to feed the grid. This in a roundabout way shows the commitment of our Africa partners.
5. Provide updated timelines for remaining milestones, in particular the tariff. These would ideally be agreed with our partners. Even better would be to provide an indication of why the tariff timings have moved so much. If linked to the EPC contract then say so. It would make a lot more people confident in investing as it would effectively say the barrier to tariff signing has now been addressed.

All of these things except for more clarification on why tariff timings have slipped should be achievable. Hanno has finally gotten a milestone agreed 9 months late. Time for him to PR the hell out of it. Hanno's f@ck ups have cost us all money. Even if he gets the sp back to the 3's on the back of this news most will still be suffering losses. He needs to do his job, earn his keep, and start delivering what the market needs to hear. All we've received is well overdue news. We still don't know much about anything else. And until the share price is above 5p it doesn't mean a thing. Hopefully this will unravel more than just the interconnector line link, and will provide us with a greater understanding of where things sit, and concrete timings for the tariff to be signed. If Hanno can provide a little more color to the project and remaining milestones then I don't see why 5p isn't possible this month if Q4 is when we expect to have a signed tariff. GLA

That may end up being the case Stan, and it won’t be long before we find out. However I would counter that argument with the recent statement from CMEC, and the recent injection of £600k by existing HNWIs, to suggest things are still going ahead. If indeed the EPC is the key to unlocking the tariff then hopefully we will start to see some more major milestones ticked off this year. But first Hanno and CMEC have to deliver a signed EPC in the next 3.5 weeks. I expect the re-rate to be commensurate with the degree of additional positive information that’s delivered alongside this milestone. If Hanno and CMEC make some joined up statements to the market indicating the importance of this milestone, and have committed timings from EDM and Moz for other milestones to be delivered this year, then we could be back to +5p very quickly. This company has form for +100% rises on less important information so definitely a strong possibility. But it really depends on what else they give the market. If it’s an announcement made solely by nccl with little fanfare and input from our Chinese partner, and we still have no idea of when to expect the tariff then we will get a positive but muted response from the market. Hopefully Hanno recognizes this and can put that PR and IR expertise he claims to possess to good use. Trust me I’m very unimpressed with Hanno’s lack of regard for his shareholders and their wealth, but this could be the milestone to kick things off. I also don’t believe for a second that our existing HNWIs who ponied up to the tune of £600k are privy to the same (lack of) of information as us. I simply don’t believe there’s a millionaire that f’ing stupid or gullible to give Hanno more money based on the track record you speak of, and what little information the market possesses on this project. If you’re a believer then you can almost get the same deal as Hanno’s wealthy mates, although the ultra cheap warrants won’t be coming your way. But at least we have a set date for a key milestone. GLA

I forgot to add that Hanno will need to provide an updated timetable post EPC contracts being signed.

These are all things that he should be able to do, and should be doing if he wants investors to part with their money after the silence that's been endured here all year. He needs to speak with EDM and Moz and get a timings commitment from them on the tariff in particular. If indeed it has been held-up whilst waiting for the EPC contract to be signed it would be ideal if he could communicate this to the market. No more silence and weasel worded statements. There's point delivering the EPC contract, which now appears to be far more important than we've realized, then nothing else. Hanno needs to get on the front-foot, start acting like a CEO, and convince the market of the merits of this project in the same way as he's convinced existing HNWIs to part with another £550k. I really don't know wtf is going on with this company, and as an investor that simply isn't good enough. GLA

Yes risky investment no doubt.

Extrader, agree on the PR. It’s been woefully inadequate. To think there’s been negatives communicated on forums that haven’t been addressed even in a tweet. I know Hanno and Elizabeth have tried to explain the silence as ‘they’re not a company that updates the market on nothing’. But when there’s very little progress, and timelines have been missed by quarters to half years, and the sp is slowly bleeding out whilst funds are drying up, it doesn’t take the most seasoned operator to recognise that even small wins, regular updates, or simple clarifications are required. They have a Twitter handle. They should try using it a bit more if an rns isn’t warranted.

Stan, I feel your frustration. I’m sitting it out. We have a solid 6+ months of cash in the bank, and a lot can happen in that time. We have £550k recently added by existing hnwi’s so make of that what you will. And most important the first major milestone that involves a partner has been committed for the coming weeks. It appears this milestone is far more important than first thought. So hopefully Hanno and CMEC can deliver on this recent commitment as I don’t think the market has any patience left for more silence and bulli**** reasoning if this isn’t delivered.

Chris, one would certainly hope 3p will be breached. We were talking of 10p six months ago on the same milestone so it would be mighty disappointing and say a lot about the erosion of trust in mgt if this doesn’t happen. At least it’s only a few weeks before we find out one way or another if this project has life in it. And if it does occur I’m hoping Hanno has the good sense to get out there and trumpet the significance of the milestone and what it unlocks. I’m also expecting CMEC to have made a statement. And I’m expecting both parties to address the green elephant in the room by promoting the emissions qualities of the technology we will be using. This last point is particularly important. They need to pave the way for the project and the inevitable criticism it may face by showing it will meet the strictest emissions standards and will be better than many coal plants operating in western nations. As well as promoting it will be net negative on emissions as it replaces other energy sources such as diesel or biomass. And of course the difference electrification will make in one of the poorest parts of the planet. One could say this is pretty obvious and should be expected, however I haven’t seen the company with the support of CMEC doing any of this to date. No point hiding and hoping no one will notice you’re building a coal fired plant. Get out there and promote the positives of what this will deliver, because from where I’m sitting I can’t see a solid argument against this plant being built in this part of the world providing the technology is as green as they say it is.

Let’s see if Hanno is up to the job, because I genuinely think the survival of the company rests on this next miles

I can't say the recent interview provided all necessary answers. It did however, in a roundabout way, answer a few big questions. Overall I feel better about things, but torn as to whether it's worth averaging down. Few things I took from the Q&A...

1. The EPC contract is far more important than we realize as it's the first major step that says CMEC are confident in the tariff being approved, and they're ready to progress the project in earnest. I also took from Hanno's indirect responses that it's the first step before they start the early works program. I couldn't tell whether it was also potentially linked to the tariff being signed from what Hanno was saying, however I did get the feeling that it could be, and is needed first. Perhaps EDM / Moz require this to show the technology / green credentials of the project...? Just a thought, but I could be joining dots that don't exist.
2. There is no risk with the mining license as it was extended by 3 years at the end of last year, so this discussion topic can end for now.
3. On the lack of updates and partner recognition of the project, it appears that everyone is progressing the project whilst keeping their heads down due to the scrutiny that coal is getting these days. Still doesn't excuse the lack of foresight by Hanno in not raising far earlier and at a higher price. Or the lack of updates and reassurance to existing investors over the past +6 months. It simply hasn't been good enough. Pathetic really. So he needs to get his act together on these fronts as far as I'm concerned and not take the £600k whilst saying nothing to the market for another 6 months.
4. The £600k is pointed directly at the main project so should keep the lights on until sometime next year, which is reassuring.
5. Alternative finance options answers weren't satisfactory imo. In particular the side-step on why warrants / options weren't executed. Hanno gave a garbled response to this question, which simply didn't add up. Perhaps mgt don't have the money (unlikely), or perhaps they're rewarding their existing HNWI shareholders with some cheap shares and options (more than likely). The investors that took up the recent bargain basement raise with attached bargain basement warrants were HNWIs and already shareholders. I'd imagine they all took great care not to go over the notifiable threshold as well. Just to keep everything in the shade, like most things with this company.

Either way this company has become an even bigger binary play imo. Having said this the EPC contract is a very big milestone. From what I gleaned out of Hanno's responses if agreed it says CMEC are committed and believe the tariff is going to be approved. It's necessary to unlocking the early works budget. And, it COULD be linked to tariff approval. Ultimately we'll find out in the next 4 weeks if the recent rns is to be believed. Let's hope CMEC are better at delivering on their words than Hanno. Extrader (+others), I'd love to hear your though