Ncondezi Energy Share Discussion Threads

[412069] 31/12/2015 11:17

The days not over yet Cammy.

[paul the octopus] 31/12/2015 10:33

any chance of being suspended comes Monday morning if no rns today? at least they got to say something, extension, JV signed, placing or ...

[412069] 31/12/2015 09:42

Fear is a emotion the MM's use to there advantage all the time.
Nothing's changed since the 16th Dec deals still on.
Any buying now will the gap up just as quick like yesterday.

[412069] 31/12/2015 09:22

Won't stay down here long L2 just changed 2 v 1
30 v 15
They've collected enough for today, await the news now lads.

[simon_64] 31/12/2015 09:19

LOL ! I should have waited a day before buying in.

[412069] 31/12/2015 09:11

Dave
I would bet 50%+ of these sells today were bought yesterday in the hope of an RNS this morning to make a quick buck.
SEP said they will come into the project and that's not changed.
Could see buying again if it go's lower.

[investment dave] 31/12/2015 09:05

Is there any reason for this major panic

[412069] 31/12/2015 08:59

MM's buying back what they sold for 4p yesterday by the looks of it easy money for them.
News will come in at some point today IMHO.

[cammy3] 31/12/2015 08:56

Sellers in a panic. For what? This will come good

[412069] 31/12/2015 08:34

Morning fellas were still waiting I see.
No one knows but SEP and the BOD re details so wait for them to cough it up.

[katylied] 31/12/2015 08:31

NAV_Mike - As you well know, this has been an IPP project for the last 3yrs. The coal only needs to be local to the Power Plant and there to be customers for the power. In the last 12 months, Walter M1-tty hasn't been 'accurate' (except in his own head) about anything. More 'time will tell' really isn't required...

[nav_mike] 31/12/2015 08:17

KL

Any danger we could keep it civil? I certainly havent suspended disbelief and am well aware that anything could still happen, depending on whether the BoD do indeed have integrity toward PIs or whether they will fleece us at the first sign of actual £££; coming in.

Time will tell if M1sak has been accurate, but we wont have long to wait i will wager.

As for dilution from 180m to 250m, ive seen way worse than that as im sure you have. I recently got kicked in the balls over at AUE, where from a recent high at 30p odd they decided a large 5p placing was appropriate.

At the end of the day we are talking about a huge lump of coal, in the back end of nowhere. If they get an anywhere near decent deal away, I do actually feel it will be quite an acheivement, given the abysmal state of commodity and energy markets.

[cammy3] 31/12/2015 08:03

Update mid morning surely

[katylied] 30/12/2015 22:31

lol! On track to dump SEP and go it alone? Wasn't that your insider prediction Walter? You seem to have managed a seamless U-turn on that one. Then again, perhaps I am the only one here who hasn't entirely suspended disbelief?

And I definitely won't be thanking the BoD whatever the outcome. Their original deadline for the IPP JDA was the end of Q1 2014. That is what they told investors, when they launched the 1st open-offer. There were ~180,000,000 shares in issue back then (post offer). Now post missed milestones there are ~250,000,000. That is the cost of the BoD's salaries and failure to deliver. Are they 'on track' to miss yet another EDM deadline?. Let us not forget, one CEO has already quite rightly fallen on his sword.

Don't worry about (AFC, Kulczyk Investments, M Haworth). They are insiders with seats on the BoD. In any worst case scenario (more equity funding dilution), they will determine how it is handled. They are nowhere near as expendable as small PIs...

We need that JDA signed. We don't need BoD apologetics.

[m1sak] 30/12/2015 21:28

PS. I am being updated when further progress has been made. We were on track 3 weeks ago prior to the Dec 11th RNS.

[m1sak] 30/12/2015 21:19

Nearly There!

I don`t think SEP would have issued a statement to the Shanghai Stock Exchange if they thought it was going to fall through. The thrashing out should have been done and we should just be awaiting the deal to be signed off. Don`t forget, the company intends to raise the "full amount of capital required to complete the development project".

Other discussions will have taken place with EPC and O&M contractors. All will need to be brought together now.

I still think Peter O`Connor has made way for a new NED to come on board.

As much as Katy has criticised our BOD, I think we will be thanking them shortly.

It will not have been a simple straightforward task to change the plan from a mine to mine plus power station especially in this commodity market malaise.

If we do not have an RNS tomorrow, it will probably come next week, as you say novicetrader, we have a few wealthy shareholders on board who will do their best not to see this fail.

Incidently, I had a thought today-NCCL`s share price started to move around midday, at the same time KIBO`s share price climbed roughly by the same percentage. KIBO are planning the same set-up but in neighbouring Tanzania, I wondered whether news had leaked between brokers and they had marked both companies`share price up in anticipation of read across values.

We shall soon see.

[novicetrade68] 30/12/2015 20:55

Katie, if you don't mind me saying, but the company didn't really 'set the stage for a massively dillutive equity issue' at their last AGM this year.

If you read the document you can see they sought an annual renewal of their authority to issue shares - similar to all their previous AGMs - and their authority to dilute is restricted to either 33% or 66% of shares already in issue, pending circumstances.

So apart from it just being a renewal, the maximum dilution is not really massive in my book tbh, if you see that some companies on AIM dillute their poor shareholders in terms of 100s of percent.

Clearly, the company at some point in January will have to clarify how they can move on as a going concern.

I would hope that at this stage people close to this deal will have an idea of what's on the table, whilst the lawyers are doing their DD on the intended JDA.

Since the three strongest share holders (AFC, Kulczyk Investments, M Haworth) own 40% of this company, I can't imagine they want to 'unneccesarily' dillute if they don't have too.

They're all under water here, but all have pockets deep enough to offer NCCL a friendly loan for example to keep them ticking over for three, who knows, six months.

And if a loan is not an option or far fetched, then still this company could issue shares, say 30mn-40mn new ones at 3p to get on for another half year. Then it's still only 280-290mn shares in issue.

No doubt some will bail tomorrow in case of no news, but if you can hold your breath for a few months then there should be plenty of upside here.

[cammy3] 30/12/2015 18:19

Sorry Dave its a Video. You can sign into their website for free and listen to it.

Basically Zak mir suggesting we should see 5.5p over the next few sessions !!

[investment dave] 30/12/2015 18:16

Cammy can you post the share profits article please

[cammy3] 30/12/2015 18:13

Katy Your correct in your assumptions and your last scenario looks on the money. Clearly a Deal with SEPCO has been done as announced to the Chinese stock exchange by SEPCO. If you read that RNS it clearly states that SEPCO intend to "invest"
2 scenarios -

1. We have missed the deadline (31/12) tomorrow and no extension

2. We have signed a binding JDA with SEPCO

[katylied] 30/12/2015 17:28

Paul - The reason the last EDM extension was short and only reached until 31st December, is that NCCL had already informed the market that they were funded only until January 2016. State operated EDM will not deal with any company, that is not a 'going concern'.

After 2 open offers with rights (the last a failure), the BoD knew they would never get a 3rd away. So at the last AGM they set the stage for a massively dilutive equity issue. If they don't sign with SEP soon (and get cash upfront) that is their only fallback, unless AFC can rescue them in some other way.

So, the current emphasis on this BB regarding the SEP deal being concluded ASAP is absolutely well placed. That is the only route to both a sea change in project sentiment and the survival of the company that doesn't require rogering all the smaller PIs. The BoD unfortunately, are not good at delivery to shareholders...

[cammy3] 30/12/2015 17:12

Katy - Reading the last RNS it looks like SEPCO will more than save the day. Yes they have always said they only have sufficient funds to see them through to Jan and don't Sepco just know that. Maybe a clean takeout is their only option.

Share price is up 100% since that RNS