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With cash running out and news imminent, management waited until the last minute to do a placing at 1.5p, effectively annihilating the positions of the long term holders who have for loyally supported the company to get to this position. LTHs have been shafted!
GGG, If you get a reply from the NOMAD re your concern (much of which I agree with) please would you post it on this board?
Totally agree GGG and BENJAN1.
Given the very significant fall in the share price since January, would it be prudent for the company to provide a news release stating that they are ‘not aware of any reason’ for the drop?
I agree GGG, the company should be able to give an update on Tariff talks rather than just conveniently stating that confidential talks continue to be positive.
The company could give dates and venues of meetings, who attended, the agenda and date of next meeting.
If any decision taken at meetings was price sensitive it would need to be reported.
I am still waiting to hear a report on the accelerated development work to be carried out on the Project funded by the $1.8m Accelerated Development Budget provided by CMEC.
Or they could possibly be transferred to SF or Hanno within the exercise of warrants/options or for cash.
As the shares from the Termination of EBTs are to held by NCCL as treasury shares, the company could sell them into the market. At the current price this could raise around £75,000.
However, If for some reason the company expects a rise in the share price, then at 5p, by my calculation, this could raise £143,492. Just guessing, but this might be enough to see the company through for a short period if a boost from the main project lags beyond end of September. (particularly if Hanno and SF exercise a few warrants/options)
I think it is a positive in that we now know the transmission line is happening and CMEC will be able to concentrate their efforts on delivering the electricity.
China will continue to use coal fired power stations and support these as the only viable alternative to provide electricity to the developing world.
China will take no notice of the political posturing of the West.
Hammerphil1989,
Thanks for posting your information about the transmission line, which is very encouraging.
The end of June coincides with publication of NCCL final results, so perhaps the transmission line may get a mention in the report (post balance sheet events)
NCCL final results were 28 June last year.
Thanks hammerphil1989
Perhaps this might be linked in some way with the tariff.
Hammerphil1989,
Do you know if the contractor selected for the construction of the transmission line has been announced?
Hxulcolrdoh, I believe that a large number of similar installations are planned as would be necessary if a target of 600MWh was to be achieved.
If on an individual basis the income from each solar PV and battery installation is $17,000 per month, and if, as stated in the news release, target generation is up to 600MWh what then would be the total annual revenue from this branch of the company?
Calculations anybody?
Thanks CF72 I have taken another look at the May 2020 presentation (available on the Ncondezi Energy web site) and on page 19 there is clear indication of the route of the Interconnector line and its proximity to the location of the Ncondezi Energy Project.
The map also shows the location of the Matambo substation and illustrates in the green arrowed line, the potential short transmission line from the NCCL project to the Interconnector line. The map is best viewed enlarged.
CF72,
I am a firm believer in the NCCL project and I value your contribution to this board. I note you have mentioned on a number of occasions that we are based near the Matambo sub-station. I may be wrong, but I am not sure we are. If you look at page 8 of the NCCL presentation of 20 February 2020 you will see a distance of 92 Km referred to. I believe that a reasonable approximation of nearest point of the transmission line to the location of the NCCL project would be roughly 15°55'21.72"S 34° 4'1.96"E which is around 5 Km. I believe this is what the 19 May 2021 Project Update is referring to when stating ‘Approval received from relevant parties, including EDM, to conduct further work on optimised transmission integration solution, which is expected to further reduce costs.’
Correction re my last post. The close period for Annual Results is normally considered to be two months. (one month for quarterly results)
Goingtothemoon, The company is still able to release project updates during the close period.
Last year the Final Results were released by RNS on 22 June 2020. A Project Update RNS was released on 19 June 2020.
As the close period is one month prior to release of results, if the Final Results are released on the same date as last year then directors could still purchase shares in the market until tomorrow (unless of course, NCCL is in a close period due to sensitive information)
Caterham7, As far as I am aware the contract award for the Mozambique/Malawi transmission line is due this month.
It is extremely frustrating that EDM are holding up the tariff approval but I see a positive in the reference to ‘optimised transmission integration solution’ which has ‘has strong potential to reduce the transmission capex.’
As no specifics on the transmission integration solution are given in the RNS, my assumption is, (as I recall) the plan was for a transmission line from the Ncondezi Power plant to the Matambo substation, which by my calculations is approximately 65Km. CMEC are one of the bidders for the construction of the new transmission line linking the Matambo substation to the Phombeya substation in Malawi, as this transmission line passes close to the location of the Ncondezi project, reduced capex could be achieved by utilising a short transmission line from the Ncondezi project to the nearest point on the new Mozambique/Malawi transmission line.
CF73 & chrishutch
Excellent analysis. Hopefully the award of the transmission contract this month will provide the necessary catalyst.