Ncondezi Energy Share Discussion Threads

[guitars4stars] 27/5/2017 07:04

M1SAK - you appear to be deluded re your comment including Kibo Mining... guessing it's taking time to digest yesterday's first of many bomb shells for NCCL.

[m1sak] 26/5/2017 23:28

Yes, I agree with that.

I also think if that was the case we will make progress quicker.

I even think, even after this setback, that we will reach FC before Kibo.

[cl0ckw0rk0range] 26/5/2017 23:12

SEP could well re engage but now that it's out to tender with several interested parties they may want to make that decision sooner rather than later. Watch this space.

[123js] 26/5/2017 15:44

Interesting angle...

[katylied] 26/5/2017 14:42

"2917 - Bigger concern to me is if/when debt rolls into equity..."

Well that would be a problem for AFC. Currently they hold 22% of NCCL. A further ~20m shares (puts them over 30%) would trigger a takeover bid. AFC debt+Interest = $2m = £1.5m which converted at anything less than 7.5p/share means AFC reach 30%+...

As you say, there there are easier ways to that end-game...

[123js] 26/5/2017 14:05

They have the option to request security...I would've thought they would need to announce if they have - so would agree there is no indication they have this secured.While it is still a possibility, I feel if this was the game they could've engineered it a lot easier.My opinion is they prefer being listed for funding options, profile. Bigger concern to me is if/when debt rolls into equity and there is a reboot...

[katylied] 26/5/2017 13:48

Back from May 2016 - "USD500,000 is being provided by a trust of which the company's Non-Executive Chairman Michael Haworth is a potential beneficiary, whilst USD108,000 is being provided by Executive Director and Chief Operations Officer, Chris Schutte, USD35,000 from Non-Executive Director, Estevao Pale, and USD147,000 from Ncondezi management"... Then in August 2016 AFC joined on the same terms with (Tranche A) US$1m loan. In total, outstanding shareholder debt falls due in Sept...

The interest rate was initially extortionate and is now even higher. However there is no mention anywhere of 'senior debt', of being secured against the company assets. It may in fact be unsecured debt (hence the interest rate?). So the idea that on failure to repay, these people can take the company, may not be true...

[novicetrade68] 26/5/2017 10:56

Isn't the whole AIM pretty much a gamble! From these levels you can double, triple your money or lose the lot. It does seem fairly certain to me the monies will be provided to keep the lights on, so odds on for a reasonable bounce once that is confirmed as probably a lot of bad news was already priced in.

SEP could still re-engage, although unlikely in my view, or any update on these unsollicited offers and it will run wild again and you have to time your sells!

[123js] 26/5/2017 10:41

Was waiting for 1p to roll the dice... seems to be a lot of gamblers out there!!!

[novicetrade68] 26/5/2017 09:39

A for sale sign could be helpful too, it's still a pretty decent sized resource, surely worth more than the current £3.5m.

[katylied] 26/5/2017 09:12

Next up, getting the accounts signed off ('going concern') by the end of June. A 1 for 1 open/rights-offer at 1p/share could get them over £2m. Why not? They have done that twice before. Admittedly, they will need to inject something 'new' into the PR, but at 1p/share there should be some takers. Or am I being wildly optimistic?...

[123js] 26/5/2017 08:56

Refinance becomes recaptialisation...

[123js] 26/5/2017 08:55

Ha...pretty fair summary of options!

[kibes] 26/5/2017 08:53

Heading for suspension in September at which point AFC and the directors who have lent the company money call in their loans and take over the assets in exchange. They aren't going to be losers. On the other hand since we know SEP want to do the project why don't they just buy the company out for 2p a share?

[katylied] 26/5/2017 08:53

Well... Finally the very slow train crash has hit the buffers. This could be quite interesting. Either (a) SEP's bluff is called and they finally engage, (b) A new partner comes on board, or (c) funeral arrangements required...

Either way I am back in for a punt... :o)

[escapetohome] 26/5/2017 08:49

I just bought £200 worth having sold out at about 9.6 p.

[123js] 26/5/2017 08:18

Hard to put a positive spin any which way...but they're keeping it on life support...

[escapetohome] 26/5/2017 08:12

"POOP" SHARE STATUS AWARDED

well done sir! A truly smelly performance

[turbotrader2] 26/5/2017 08:09

And I will say it once moreBUST

[nick rubens] 26/5/2017 08:00

This additional shareholder loan comes with what late payment penalty?

Any details? OK just seen it 25% Interest.

[deanroberthunt] 26/5/2017 07:55

think I'd rather have a pikey tarmac my drive...

[deanroberthunt] 26/5/2017 07:55

as I said, a Chinese venture in Africa, what could possibly go wrong......erk