Ncondezi Energy Share Discussion Threads

[kibes] 30/3/2017 10:43

KatyLied - I agree the power project could get its coal from elsewhere but there would be simply no rationale for SEP to do any kind of deal with NCCL if it is going to do that. Why would they? It would be nonsense. Also I doubt whether purchased coal elsewhere would be cheaper than NCCL coal which can be offered simply at cost of production on site on the basis that NCCL will make its money in the power project.

[katylied] 30/3/2017 10:39

lol! 'Investor Stockholm syndrome' is still alive and well...

[cl0ckw0rk0range] 30/3/2017 10:35

Not the news the market was waiting for but certainly many positives to take from this RNS. Catalyst focus shifted to PPA and given the infrastructure developments recently this project, with SEP onboard, should move along at pace.

[novicetrade68] 30/3/2017 10:33

Well, at least concerns that the Chinese were going to screw us all along seem to have been misfounded, that's the positive today, as SEP seems actually more committed to me.

I wouldn't know the question to your answer kibes ie what is fair value, I would think some out there are still perhaps in panic-sell mode or looking to bail as we speak, because that's what understandably happens when a RNS lands announcing delays and not-yet finilized further funding.

Just going to have to see whether (new) investors see value at this stage or at some point - the project isn't dead yet.

[katylied] 30/3/2017 10:25

Kibes, NCCL doesn't have to provide the coal. There is still no agreement with SEP for the coal. The PP and the coal are still 2 completely separate business interests. That leaves the possibility, that if Moz export thermal coal does ever becomes profitable, some 3rd party might be prepared to buyout the resource. When 2018 does come around, who is to say it won't again slide to 2019? Sadly, unless some positive 'out of left field' event now takes place, this is a busted flush. Expect historic share price lows to be reached at some point later this year...

[kibes] 30/3/2017 10:05

Leaving aside shareholder rage and tantrums the question is what is this worth now? Because I would say SEP are definitely intending to carry on to financial close. At which point NCCL is supposed to receive $35 million. Assuming the 17.6% of UAE Co shares pledged are handed over to SEP (no prizes for guessing that they will be!) that would leave NCCL with 22.4% of the power project, which in a fully funded condition is still going to be worth a lot. But NCCL has to provide the coal (and where does the funding to do that come from?). Hard to say. However the $35 million (less shareholder loans repayment of around $5 million) may provide a sort of bottom stop which is around 9.6p/share. Does anyone agree?

[kibes] 30/3/2017 09:18

Can't imagine why SEP would bother with a Development Agreement and a pledge of shares in the UAE Co, much easier to just buy NCCL out and take the whole thing over. This is just prolonging the agony really but it still seems SEP want to go ahead with the project at any rate. I suppose the holdup is really down to the Mozambique government dragging its feet due to the financial situation in Mozambique.

[novicetrade68] 30/3/2017 09:04

Not the RNS I was expecting, but at -50% at some point, I thought SEP has walked, but it seems they're actually getting in deeper by providing 'development funds' and buy the Decree.

The project is still a goer it seems, just need to keep an eye out now the company isn't going to screw shareholders here moving forward, although the $300k running costs doesn't seem so excessive.

[kryptonsnake] 30/3/2017 08:59

Not great news, I sold out last week at 8.75p, still made a small loss as I had a higher average from shares I bought from about 4 years ago.

I've witnessed plenty of ups and downs with this share. Got a feeling you'll still be able to buy in at 4p early 2018. This project is taking forever.

[fillipe] 30/3/2017 08:58

Still a chance to pick up some stock here at sub-5p.....fast disappearing though.
And, yes - I did.

f

[123js] 30/3/2017 07:39

Oh well...

[cl0ckw0rk0range] 29/3/2017 17:54

#NCCL's 22% shareholder @africa_finance knows how to invest in African infrastructureUS$115.3 million in Total Comprehensive Income, up 64% year-on-year, a great success for AFC in challenging times #Africa #InfrastructureBosh.

[novicetrade68] 29/3/2017 16:04

Thanks for posting that ! I personally continue to find it encouraging that given the size of AFC, they only have 7 power plays throughout the whole of Africa on their balance sheet, NCCL being one of them.

[cl0ckw0rk0range] 29/3/2017 15:56

AFC accounts out with reference to their approach to power projects across Africa. #NCCL's largest shareholder - africafc.org/Publications/P...

[cl0ckw0rk0range] 29/3/2017 08:38

The IMF will no doubt be pleased with this :*Italian energy company ENI will pay Mozambique's government $350 million in capital gains tax after selling part of its stake in a gas field to Exxon Mobil, it was revealed late on Tuesday.The sale concerns Area 4 of the Rovuma basin gas field, the southern African country’s Tax Authority (AT) announced.Tuesday's agreement was sealed in Mozambique’s capital Maputo after four hours of talks between the Italian oil giant and the government.The amount represents 32 percent of part of the $2.8 billion deal between ENI and Exxon Mobil for a 25 percent stake in Mozambique's offshore gas field which holds an estimated 85 trillion cubic feet of the fuel.AT spokesman Anibal Balango said: "This is the amount we agreed after … hard talks. As you may know, according the mining and petroleum law we have to charge for all business stakes on assets in the country by foreign companies in particular."According to the AT, the talks are now following the final procedure and are expected to end "as soon as possible".Mozambique’s Area 4 gas field is shared by local company ENH, Korea Gas Corp. and Galp Energia, with 10 percent stakes each, while ENI and Exon Mobile hold 35 percent each.The capital gains tax to be paid by ENI is seen as a relief for Mozambique's budget which has been severely affected by donors’ decision to halt foreign aid.As Mozambique has no sovereign fund for extraordinary income, the tax will be immediately used to fund current deficits in the national budget, which had risen to 11 percent of GDP.

[katylied] 29/3/2017 07:08

Kroll given another month - Debt Audit now not due until April 28th

[cl0ckw0rk0range] 29/3/2017 06:58

And even more!#Nyusi opens #power plants in #Manica : The goal is to increase access to #electricity #Mozambique ow.ly/3G5w30aklBbThe rate of national electricity coverage remains below the desired level, with only 26 percent of the population connected at the end of 2016. Inaugurating the Mavuzi and Chicamba hydroelectric plants yesterday in Manica, President Nyusi renewed the government's commitment to extending access to electricity in Mozambique.In his speech, Filipe Nyusi acknowledged that the national grid infrastructure was still limited, and unable to meet the growing demand for reliable electricity. As a result, about 80 percent of Mozambicans depend on resources such as wood and charcoal for energy, in addition to oil, the price of which tends to rise.According to the head of state, the challenges resulting from the emergence of new productive projects, coupled with the demand generated by the emerging extractive industry, were compelling the country to rethink the problem of access to electricity.He noted that, as a result of the work in progress, "we have moved from 15 district headquarters connected to the national network in 1997 to the current 147 district headquarters, out of 154 districts".The president said that the electrification of the remaining seven district headquarters is a perfectly achievable goal."This is a dream and a commitment that we share and take on before our people. It was not by chance that in the process of defining our governance goals, we chose, among the four focus areas, energy as one of the catalysts for the development of our economy," President Nyusi said.The Chairman of the Board of Directors of Mozambique Electricity, Mateus Magala, told Noticias that the completion of the two power plants would increase the number of the companies clients by 26,000, who will join the 84,000 Manica customers already connected.

[cl0ckw0rk0range] 29/3/2017 06:54

The timing of all these power projects and infrastructure investments does seem apt..#Power station in #Mozambique resumes operation after increasing capacity ow.ly/v6wb30alaPXThe newly reopened facility joins the Chicamba facility which, with an installed capacity of 90 megawatts, will also provide electricity to the neighbouring province of Sofala and to Zimbabwe, a project that cost US$120 million.Built 60 years ago, the Mavuzi hydroelectric plant is considered the oldest of the current energy production facilities of state power company EdM, which in November 2016 took over ownership of this plant and Chicamba along with related power transmission lines and substations, under a government decree.The modernisation of the two facilities was funded by Sweden, which provided a donation worth around 36 million euros, as well as by France, through the French Development Agency (AFD), with a soft loan of 50 million euros and Germany with a commercial loan of 18 million euros.Source: Macauhub

[cl0ckw0rk0range] 28/3/2017 17:45

Chunky 150k buy after hours...hmmmmm

[cl0ckw0rk0range] 28/3/2017 10:04

Project update this week certainly on the cards and would anticipate an extensive RNS, with infrastructure funding and internal investments into Mozambique this is all falling into place nicely.

[dozydumwit] 28/3/2017 07:56

Delays are rife in Mozambique and further concerns around their debt obligationsMaybe SEP need another 12 months of due diligence which would be the right thing to doWatch this fall

[novicetrade68] 27/3/2017 22:57

I would imagine NCCL and especially SEP to be quite happy that the Germans are throwing a bone to EdM.

[cl0ckw0rk0range] 27/3/2017 22:35

Germany supports Mozambique with donation of 157.5 million euros | Macauhub Englishhttp://www.macauhub.com.mo/en/2017/03/27/germany-supports-mozambique-with-donation-of-157-5-million-euros/Germany decided to grant Mozambique a donation of 157.5 million euros to finance various development projects, under two technical and financial cooperation agreements signed on Friday in Maputo.Education, sustainable economic development, and decentralisation and public finances will receive 118.5 million euros and 35.5 million euros will be invested in training, 23.5 million euros in decentralisation and public finances and 20.5 million euros to support small businesses.The remaining 39 million euros will be invested in the energy sector, funding a regional power transmission line between Mozambique and Malawi and the short-term investment plan of state electricity company EdM, according to Mozambican news agency AIM.

[cl0ckw0rk0range] 27/3/2017 22:34

NEPAD approves US $3.88 million in grants to Zambia, DRC and #Mozambique for power interconnectionshttps://www.lusakatimes.com/2017/03/07/nepad-approves-us-3-88-million-grants-zambia-drc-mozambique-power-interconnecto/Lots of infrastructure investment going on of late.... power interconnections need power plants...