Dead30 Oct 2021 06:36
Nothing with NCCL makes sense
On finding alone, the market cap is at £5 million and yet the BOD struggled to raise £600k?
Hanno Pengilly couldn’t ask Daddy to invest and turn a quick profit?
The other BOD members who will also have a far more clearer picture (than the one given to investors by Hanno in the light touch proactive YouTube interviews) didn’t want to invest?
And yet Hanno still takes £240k a year plus £120k bonus from a company with no income, little cash and no agreement in place?
And there are other factors at play
Hanno ends up with the solar project due to his loan if NCCL goes bust, did any of the £600k rise go on the solar project?
CMEC are a huge world player, they could snap up NCCL today at irs current market cap for far less than the £21 million ‘in principle’ historic costs (I an still trying not to laugh at the in principle agreement) agreement.
Is it fair to say NCCL is now dead, spending up its final few pounds as a CEO lifestyle company while the CEO gets to pick up the solar project from the aftermath and the Chinese get the coal project for free?
CMEC don’t work with small fry like NCCL, this is over.
Finally, Hanno Pengilly is way out of his depth. But he’s isn’t the one to blame, the people who made him CEO are to blame.