Share Name Share Symbol Market Type Share ISIN Share Description
Ncondezi Energy Limited LSE:NCCL London Ordinary Share VGG640631039 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.20 3.51% 5.90 999,542 14:43:15
Bid Price Offer Price High Price Low Price Open Price
5.80 6.00 5.90 5.35 5.60
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -1.73 -0.53 22
Last Trade Time Trade Type Trade Size Trade Price Currency
15:22:51 O 3,000 5.825 GBX

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Date Time Title Posts
06/1/202108:20Ncondezi Energy - Power Generation in Mozambique8,427
25/7/201911:53Nconduzi - 20101,145

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Ncondezi Energy Daily Update: Ncondezi Energy Limited is listed in the Mining sector of the London Stock Exchange with ticker NCCL. The last closing price for Ncondezi Energy was 5.70p.
Ncondezi Energy Limited has a 4 week average price of 4.30p and a 12 week average price of 3.15p.
The 1 year high share price is 6.31p while the 1 year low share price is currently 2.85p.
There are currently 366,361,716 shares in issue and the average daily traded volume is 314,721 shares. The market capitalisation of Ncondezi Energy Limited is £21,615,341.24.
lurker5: Interesting thought. The reason why NCCL reached (briefly) over 200p after its Dec 2010 IPO (raising £35m) was the potential to export coal to india via new port and rail infrastructure being planned. See below. But it all fell apart when all commodities plummeted a year later and the port etc scheme was dropped. So, like Kibo and EDL, NCCL thought "Why not have a coal mouth power station instead ?" If China really wants Moz coal (has to be right type - thermal or coking) it would have to finance that infrastructure. But Tete does seem to have enough coal to fulfill both Fron Dec 2010 Ncondezi Coal Co Ltd (LON:NCCL) has joined London’s AIM market this morning, following a £35.6m fundraising to fast-track a bankable feasibility study (BFS) at its flagship Ncondezi project in the Tete province of Mozambique. The company aims to complete the BFS in the second half of 2012. Ncondezi holds 4 prospecting and exploration licences in the Tete Province, which the company describes as one of the world’s last remaining undeveloped coking and thermal coal basins. “The company’s main objective is to upgrade and extend the existing JORC resource and to complete a fast-track bankable feasibility study on the Ncondezi project. We also aim to carry out further test work in order to assess the potential for coking coal”, Ncondezi Coal chief executive Graham Mascall commented. At its flagship Ncondezi project - hosted on two of the four licenses (804L and 805L) – the company has defined a JORC 1.8 billion tonne coal resource. Supported by its new listing, Ncondezi plans to further explore the licence areas - to increase its overall coal resource, upgrade the current JORC resource, and ultimately to develop mining operations producing thermal and potentially coking coal. Recently, SKR - an independent mining and engineering consultant - completed a Scoping Study on the Ncondezi Project, confirming the economic and technical viability of a 37 year open pit mine. The scoping study envisions a mine producing 10 million tonnes per annum (tpa) of export quality thermal coal, with production commencing in the second half of 2014. The Mozambique-focused coal exploration and development company placed 28.95m new shares to a broad base of institutional and other investors, at 123p each to raise £35.6 million (US$52m). The company’s Nominated Advisor Liberum Capital Ltd, along with its joint-broker Renaissance Capital Ltd, arranged the placing as joint book-runners. Ncondezi intends to use the placing proceeds to conduct further exploration work and a fast-track BFS. It is anticipated that the BFS will encompass further drilling and evaluation of the Ncondezi project, along with social and environmental studies, which will advance the project towards production. Based on the 123p placing price, with the combination of the pre-existing share capital and the placing shares, Ncondezi has a market capitalisation of £146 million. “The Ncondezi project presents an exciting opportunity to develop a new coal mine in one of the world's largest underdeveloped coal regions. Work to date has already defined a JORC resource of 1.8 billion tonnes. We are excited about the potential for upgrading existing resources as well as the potential for coking coal”, Mascall added.
cl0ckw0rk0range: Excellent.The Company has raised gross proceeds of GBP750,000 before expenses, through a conditional Placing of 16,666,667 Ordinary Shares at a price of 4.5 pence per Ordinary Share, representing a small premium to the 30 day volume weighted average price and a 50% premium to the last fundraising in May 2020.As part of the Placing, for each two new Placing Shares subscribed for the placee will receive a non-transferable Placing Warrant to subscribe for an Ordinary Share with an exercise period of one year and exercisable at a price of 7.5 pence per Ordinary Share.
cl0ckw0rk0range: 6.7? LOLMy my Mr Ryan you truly are a nasty piece of work, so you really think that having been invested here for as long as I have, and knowing what the share price has been at previously, so you really believe that my average would be 6.7? LOLBut at least I didn't sell out at a huge loss, and then bought back in pretending that I had held all along.Oh no wait, that was your activity in KIBO was it not?Sad, sad man.
extrader: Answering myself, from p3 last AR, these seem to be the most potentially impactful : ."On 15 May 2020, the Company raised a total of £650,000 before expenses, through a placing of 21,666,666 ordinary shares in the Company at a price of 3 pence per Ordinary Share (“Placing Price”) together with 1 warrant to subscribe for an Ordinary Share at 6 pence per new Ordinary Share .... and currently in the money : In addition the Senior Management Team and certain consultants to the Company have agreed to defer 30% of salaries and fees until 30 November 2020. In principle agreement has been reached to subscribe for shares at the Placing Price in relation to salaries and fees that have been agreed to be deferred. Such subscription, if implemented, would be made in December 2020 and represent a potential total of 1,603,800 new Ordinary Shares at the Placing Price [3p] for a further £48,114...." I don't know who the warrantholders are and whether there are limited windows to exercise once 'in the money'. Any ideas ? ATB
cl0ckw0rk0range: $1.8m Agreed CMEC Accelerated Development Budget 16 November 2020: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) is pleased to announce that further to the announcement on 12 November 2020, it has signed a Supplementary Agreement to the Joint Development Agreement (the "SA") with China Machinery Engineering Corporation ("CMEC") pursuant to which CMEC will fund specified accelerated development works at the Ncondezi 300MW coal-fired power project and coal mine in Tete, Mozambique (the "Project"). JDA Supplementary Agreement · The SA sets out the agreed basis for accelerated development work to be carried out on the Project · Provisional budget of US$1.8m approved by the parties and to be funded by CMEC · Accelerated development work will focus on a number of milestones, including:o Additional survey drilling required by CMEC to complete Chinese Government approvals for their investment in the Project o Ensuring key agreements such as the Engineering Procurement and Construction ("EPC") agreements are compliant with Mozambican laws · The SA is a supplement to the Joint Development Agreement announced in July 2019. The provisions of the JDA remain in full force and effect · Funds drawn down as part of the SA will be treated as pre financial close Project development costs, to be reimbursed at Financial Close along with the Company's approved historical development costs or by the Company or its affiliates in certain circumstances including the Company achieving financial close with a third party, or on the sale or liquidation of the project company holding the mine project or the power project · Ncondezi and CMEC to agree a form of share pledge as security for funding made by CMEC as part of the SAo Ncondezi will pledge shares in its wholly owned Mozambican subsidiary that holds the power project ("PowerCo").o The number of shares pledged will be equivalent to the amount funded by CMEC, divided by the nominal value per share of PowerCo's shareso The total nominal value of all PowerCo's shares is US$15.7m, so assuming CMEC funds the full US$1.8m, Ncondezi would need to pledge approximately 11% of its shares in PowerCo to CMECo Pledge will be released upon achievement of Financial Close with CMEC as strategic partner Ncondezi Chief Executive Officer, Hanno Pengilly said: "We are delighted to have signed the Supplementary Agreement with CMEC. The approved US$1.8m development budget will be funded by CMEC. This provides the strongest signal to date of CMEC's commitment to the project, targeting its 60% equity stake, and we look forward to them leading the debt financing negotiations with Chinese financiers. Consultants have been instructed and work has commenced. We look forward to providing further updates in due course."
cl0ckw0rk0range: 13 November 2020: Ncondezi Energy Limited ("Ncondezi" or the "Company") (AIM: NCCL) announces that in lieu of salary and to further align Non-Executive Director, Scott Fletcher, with the Company's long term ambitions and the wider shareholder base, the Company's Remuneration Committee has agreed to grant Scott Fletcher share options which will vest at any time over a three year period from the date of grant subject to the following conditions being satisfied: · 5,000,000 Shares at an exercise price of 3.0p per share upon (i) the Average Share Price equalling or exceeding 5.0p or (ii) a fundraising in one or more tranches of more than £250,000.00 in aggregate has occurred at any time after the Date of Grant whilst this Option subsists at or above 5.0p per Share and before any participation in the fundraise by Scott Fletcher or his direct family either directly, through a majority owned company (taking into account all direct family holdings) or a family trust;· 2,500,000 Shares at an exercise price of 5.0p per share upon (i) the Average Share Price equalling or exceeding 7.5p or (ii) a fundraising in one or more tranches of more than £250,000.00 in aggregate has occurred at any time after the Date of Grant whilst this Option subsists at or above 7.5p per Share and before any participation in the fundraise by Scott Fletcher or his direct family either directly, through a majority owned company (taking into account all direct family holdings) or a family trust; and· 2,500,000 Shares at an exercise price of 7.5p per share upon (i) the Average Share Price equalling or exceeding 10.0p or (ii) a fundraising in one or more tranches of more than £250,000.00 in aggregate has occurred at any time after the Date of Grant whilst this Option subsists at or above 10.0p per Share and before any participation in the fundraise by Scott Fletcher or his direct family either directly, through a majority owned company (taking into account all direct family holdings) or a family trustIn addition to the vesting conditions listed above, the options shall not vest unless on the date of vesting it can be demonstrated that Scott Fletcher is beneficially interested in at least 65,000,000 shares in the Company (either directly, through a majority owned company or a family trust) and such holdings have been properly disclosed as required by the AIM Rules. Scott Fletcher currently holds 56,913,197 Ordinary Shares in the Company."Average Share Price" is defined as the average mid-market closing price of the Company's shares for the dealing days in any four week period following the date of grant as derived from the Stock Exchange Official List (AIM section) but excluding any dealing day on which the shares of the Company are suspended. Ncondezi Non-Executive Chairman, Michael Haworth:"Scott's option packaged has been designed to reflect his further commitment to the Company at this critical time in its development. The Board and I look forward to working with Scott as we continue to progress our financing strategy as well as progressing our various workstreams both for Ncondezi Energy and our C&I subsidiary." Ncondezi Non-Executive Director Scott Fletcher:"I am excited to have joined the Board of Ncondezi at a pivotal time in its development. My remuneration is aligned to a positive outcome for all shareholders and will be focussing on increasing shareholder value. I look forward to working with the Board to address our funding requirements as we look forward to the next few months."
soultrading: Congratulations to Scott and to all us shareholders, finally our interests will be acknowledged at a board level and it also doesn't hurt to have a major investor of Scott's calibre on the board. I think this will mark the turn around for the share price and be a major sentiment boost for us shareholders.
dozyduck: The reason, of course, the shares haven't reacted yet, is the unknown amount NCCL will have to contribute (in addition to back costs) to keep its 40% share. Assuming the $11bn capex and a 70% project loan, this totals $132m. Back costs not likely to exceed $30m (can be worked out from accounts and past statements) and there is no such thing as a 'development premium' (except maybe a small fee) for power plant projects like this. They are for the likes of commercial property which, until recently, could be sold off at a profit (the premium) over their build cost. So, still around $100m to be raised in NCCL equity at an unknown share price unless some of that 40% is relinquished to some other equity investor. Second reason is NCCL hasn't published an up to date NPV since 2014 - which was for a different scale project. (Any tariff agreement won't answer that question either) . Putting those two unknowns together means new investors will hold off until they're clarified. And Cannacord's May 'initiation' note showed it hadn't a clue either.
mike2909: Don�t need to reassess my strategy but thanks for the advice! All I am saying is that many people on the forums and twitter seem to take every increase in holdings by SF as though it is the catalyst for an increase in Nccl share price, which thus far is not the case.
yogaboy: Thoughts on the share price. I wasn't expecting a rise to an irresistible sell, but I was expecting some kind of a rise on announcement of the JDA. It was described by the company as a major derisking event and the market should have responded accordingly.Although the market's reaction doesn't necessarily change my overall exit plan, it is a puzzling little conundrum that has made me re-examine my underlying assumptions. That makes sense, in my view.Lots of possibilities, but here is the situation through one of many different lenses:CMEC are now running this project. The JDA was signed on their turf, not NCCL's. What is their aim here? Well of course it is to maximise their outcome, and that would mean minimising NCCL's outcome. CMEC have huge resources and they want the big prize. They are in a financial position to play a much longer game, to wait out the time necessary to allow doubts to creep in, to allow vagueness and lack of detail to undermine NCCL's share price, and to snap up the project or NCCL itself when the time is right. NCCL can not afford another breakdown in project partners, so they have no option but to tag along, and they will be boxed into a cash hungry corner.The next indicator will be a delay in clinching the next milestone.That is the risk that the market can see. The share price is following the market's concerns.Discuss.
Ncondezi Energy share price data is direct from the London Stock Exchange
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