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Thought this was interesting new article from the Guardian
https://www.msn.com/en-gb/news/other/china-s-plans-to-build-more-coal-fired-plants-deal-blow-to-uk-s-cop26-ambitions/ar-AAPqJXV?ocid=msedgdhp&pc=U531
China plans to build more coal-fired power plants and has hinted that it will rethink its timetable to slash emissions, in a significant blow to the UK’s ambitions for securing a global agreement on phasing out coal at the Cop26 climate summit in Glasgow.
In a statement after a meeting of Beijing’s National Energy Commission, the Chinese premier, Li Keqiang, stressed the importance of regular energy supply, after swathes of the country were plunged into darkness by rolling blackouts that hit factories and homes.
While China has published plans to reach peak carbon emissions by 2030, the statement hinted that the energy crisis had led the Communist party to rethink the timing of this ambition, with a new “phased timetable and roadmap for peaking carbon emissions”.
China has previously set out plans to be carbon neutral by 2060, with emissions peaking by 2030, a goal analysts say would involve shutting 600 coal-fired power plants. President Xi Jinping has also pledged to stop building coal plants abroad.
Related: What is Cop26 and why does it matter? The complete guide
“Energy security should be the premise on which a modern energy system is built and and the capacity for energy self-supply should be enhanced,” the statement said.
Given the predominant place of coal in the country’s energy and resource endowment, it is important to optimise the layout for the coal production capacity, build advanced coal-fired power plants as appropriate in line with development needs, and continue to phase out outdated coal plants in an orderly fashion. Domestic oil and gas exploration will be intensified.”
How many months does it take to put a set of accounts together ? It's not as if we were a billion $ company with sales in multiple markets and different divisions.
I work for a large multi -national and we are bang on the button every quarter with our accounts.
Stan - as always very insightful.
To take the time out of your day to come onto this message board and tell us all, what exactly is going to happen to NCCL and Mozambique at the hands of the Chinese. Very much appreciated.
I will off course sell all my shares now based on your insight.
Thanks again
Well Q4 starts on Friday - so any time after that is possible.
Hopefully Hanno is being cautious or more general with his timeframes for delivering news, as he was with his last announcement ,which they delivered with in time frame. Maybe he has learned his lesson from those times he has failed to meet announced target dates.
Hi CF - Another point , if China had pulled the plug on our project and communicated such to Ncondezi then that would represent a material event which absolutely would need to be PR released by the Company to the market .
I am hoping that because this has not happened as yet, then we are still at the table with all parties negotiating terms which will get this project over the line - wither that is a 60/40 partnership or full sell-off to CMEC, I don't really care anymore.
As long as we get fair value for all the years, effort and cost taken to get the project to this stage.
Deep breath time.
So cfh - are you invested in Kavango or are you just another 1st time poster that thought they would swing by and make a negative post in a company they have no shares or interest in ?
It's amazing the amount of 1st time posters we have had in the last couple of days expelling the exact same sentiment.
They obviously don't think the real shareholders on this board who have been following the Company for many years can read or understand events that surround Ncondezi.
Thanks for you input it was an unexpected insight .
CF73 - Where did you get the below quote from ? Thanks
Finally, NCCL PR has commented (which I believe are an accurate assessment/ representation of the situation):
“The company was fully aware this was on the cards. We have very good communication with cmec and it is why it has been so important to demonstrate the project is an advanced stage project. Our understanding is that China will not take on any new projects but it will continue with those at an advanced stage like ours.”
That's just changed with price move back up
Bloody ridiculous with Barclays - they will allow you to sell shares under their quote & deal but not allow you to buy - why the hell would that be the case ? There is obviously 100s thousands shares up for grabs because of the off-load but they won't allow you to buy them back ?
Bloody ridiculous with Barclays - they will allow you to sell shares under their quote & deal but not allow you to buy - why the hell would that be the case ? There is obviously 100s thousands shares up for grabs because of the off-load but they won't allow you to buy them back ?
F you guys were quick on the draw posting that news here considering you probably don't own any shares
why are we even talking about placings ? - in August we had £3.5 million in the bank and a warrant bank of £7.5 m which should see us through to end of 2022. Also we have partnerships with our drilling company and TDEM operator.
Thought this was an interesting headline on yahoo this morning
'Fossil fuel firms sue governments across the world for £13bn as climate policies threaten profits'
https://uk.news.yahoo.com/fossil-fuel-companies-suing-governments-140400191.html
G_G_G I have held shares in Ncondezi for many years (probably longer than most) and believe me I am as frustrated as anyone on the board. This is the 1st time in a long time, I feel a bit more positive on where we are in the process. Hanno would have been the 1st one to tout this recent event on a social media platform, if allowed. I am hoping the fact that he can't or isn't, is due to negotiations going on with all Parties and that the CMEC President stating that they hope to deliver the project in the near future , is something that may actually take place over the coming weeks rather than many months/years down the line, if a tall .
Who knows, lets hope for the best.
G_G_G That was a direct statement (verbal) from CMEC President, as is denoted by the double inverted commas - not Hanno making the comment
Mr Fang Yanshui said: “Following the recent positive progress with all parties, CMEC is pleased to have signed the power plant EPC contract as committed this quarter. This is an important milestone for the Project and CMEC is committed to working with Ncondezi to deliver the Project in the near future.”
I like the comments from CMEC President, Mr Fang Yanshui i.e. 'Progress with all parties' and 'deliver the Project in the near future'
Why would you use the phrase 'deliver the Project in the near future' unless you felt confident that all parties were at a stage in the process where they were reasonably close to signing-off
“Following the recent positive progress with all parties, CMEC is pleased to have signed the power plant EPC contract as committed this quarter. This is an important milestone for the Project and CMEC is committed to working with Ncondezi to deliver the Project in the near future.
You would think that we must be quite near target depth on the 2nd hole !!
18 days ago we were at 137 m
TA2DD002 - As of 1800 on Sunday 22 August the Hole was at 137m
If this is not MM manipulation to shake the tree I don't know what is - bring it on
What exactly are we paying Synergy for ? - that's 5 months now and absolutely zero positive news regards their negotiation efforts.
At the end of all this, wither we achieve our project goals or not, does anyone think that Synergy 's influence will play a key role ?
Can we change the subject header - every time I visit the board I think news has been announced.
Cheers
Hi, did anyone notice the below statement from the Chairman's statement in the Annual report and accounts - something tells me that we are going to here pretty soon that we will not be holding onto 40% of the coal project.
' As we look forward, we have to acknowledge the changing investor appetite in the West for renewable
versus fossil fuel projects. In order to ensure that both sides of the Business are able to achieve their
full value for Shareholders, the Company has initiated an internal review to assess the optimal
ownership structure for the Company’s coal baseload and C&I renewable energy projects. I look
forward to sharing the outcome of the review in due course'