C'mon Hanno.29 Mar 2018 14:50
A snippet from the depths of time........."Graham Mascall the ex-ceo of nccl upon inspecting Strata’s (Michael Haworth) acquisition of what is now the Ncondezi project famously (to nerds like me)said to Haworth “you’ve got a tiger by the tail”. And he should know, having been involved in many successful mining projects over the years. Funnily enough GM was at one time in charge of Caledon Resources as was Mark Trevan, which was eventually bought out by GRAM - a large Chinese state enterprise. That was a very profitable conclusion to a long drawn out process, but they got there in the end and all the indications are that here too will be a mighty success, eventually, in what is a much bigger and more complicated project. What comes next, if the team can pull it off is the end of the beginning and the start of a new chapter for Ncondezi............
‘ Mascall says that the Ncondezi coal licenses in Mozambique were originally acquired by a venture capital fund called Strata Limited back in 2007. Strata spent between $3-$4 million dollars on two phases of further exploration which completed late in 2009, providing the basis for the Ncondezi Company to get its weighty JORC resource statement in place today. “In the middle of last year, Strata who are a small team using consultants to do the work and carry out the drilling on the project at the time, recognised that they had a significant coal resource and asked me to go and have a look and give a recommendation,” Mascall recalls. “I said ‘you’ve got a tiger by the tail’—a large coal resource in the right location [near] Vale’s Moatize and Riversdale’s Benga, you need to get some additional management on board.” Strata then asked Mascall to become CEO and put a team together to move the project on, and the rest is history.’
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