Ncondezi Energy Share Discussion Threads

[imjustdandy] 02/7/2018 15:16

Brilliant delivery and made very easy to understand for novices like Lurker. World class management always come through in the end.

[terranadonjohnson] 02/7/2018 15:02

great interview.there's only so much they can say on a podcast without giving away sensitive inf0. Neither can they say this is a done deal as they're meant to be still negotiating. buts lets face it...this is as good as they saying its a done deal.also their still working to july end deadline.

[novicetrade68] 02/7/2018 14:42

Pretty good, really worth a listen, also on NCCLs Twitter page btw:

[kingkongtimmo] 02/7/2018 14:00

"Lots of good short term news flow" straight from the horses mouth!!

[kingkongtimmo] 02/7/2018 14:00

Timetable is on track, confirmed the backcosts will be similar to the SEP deal, absolutely buried the competition and even hinted the % being taken is nailed on at 60. Hanno has pulled a blinder there

[splatted] 02/7/2018 13:59

What a new one ??????

[kingkongtimmo] 02/7/2018 13:58

Incredibly bullish podcast on VOX!

[terranadonjohnson] 02/7/2018 13:20

Yes Clock, absolutely!

[cl0ckw0rk0range] 02/7/2018 11:46

And from the previous RNS that in principle support of the tariff, which has already been discussed with the gov clearly, allows progression to JDA at the end of the month.Tick box exercise.

[terranadonjohnson] 02/7/2018 10:20

great start to the week - buying all morning. As week progresses, this will build. On the tariff, as everyone knows, we just need a in-principle agreement for now i.e. general support for the project's 'ball-park' tariff envelope.

[cl0ckw0rk0range] 02/7/2018 10:00

Some agenda posters on this and the LSE board it appears...1) NEL has NOT stated that the deal will be materially different from the previous2) Support for new tariff from government, the next key milestone ahead of finalising the JDA and re starting PPA discussions3) Unlike Kibo, NEL's PPA discussions are advanced with draft documents in near final form, including the tariff mechanisms.4) NEL had a previously agreed tariff envelope so has a good understanding of the process to agree a new one.....

[kingkongtimmo] 02/7/2018 09:17

Once we get tariff acceptance in principal, its clear that we are all singing from the same hymn sheet. NCCL, GE, CMEC, Moz gov. Last tiny hurdle to get over then the deal is ON

[splatted] 02/7/2018 08:57

And so it begins

[imjustdandy] 01/7/2018 20:05

Home stretch now. Amazing

[cl0ckw0rk0range] 01/7/2018 17:42

Suspect we get a tariff update RNS soon which really shows it's just a case of box ticking now to JDA.

[terranadonjohnson] 01/7/2018 17:40

With you Clock
By the previous deal, $25million to be paid immediately after jda and then $35million at Financial Close. It might be a but more now after whatever we've spent since SEP. Then there's whatever amounts owed to us for whatever proportion of the project we give up above the 'minimum 60%'. That also indicates the value of the proportion we retain. All of it'll be known when the details are released following jda sign off.

[cl0ckw0rk0range] 01/7/2018 16:29

TDJ even if we don't get 100% of the back costs at JDA we will know the % that will be attributed to the deal and going by the previous arrangement this would be paid in instalments upto FC, but that amount would be under a signed condition.

[terranadonjohnson] 01/7/2018 13:34

Clockwork0, all of it makes perfect sense. Tariff news between now and jda ( and then capital drawdown ). The main things are though for now , to get tariff and jda done

jda is pretty much guaranteed after tariff sorted.

Feel market is starting to properly gear up for this. I'm 70% in here and will be 100% after tariff news. Have cashed up on all my other stocks and have it waiting for the morning of the tariff update.

[cl0ckw0rk0range] 01/7/2018 12:15

And more good posts..."RE: GIVEN RNS...Oh Lurker ..Forgive us.We are young .. let us have our youth.We get excited..It's a new deal which neither of us are privvy to ..We can only speculate..But as per SEP rns.."The Subscription Price will be paid in instalments as per an agreed budget between the Parties *until* financial Close. .."Which takes us to the concession period (FC) and the first permissable drawdown..?What part aren't i reading right?Subscription fees and historical costs are part of any consortium not in any way exclusive to coal to power projects..Subscription fees are paid on entry to consortium as part of the process of securing an eventual equity stake.FC is 12-18mths away..and a very expensive process ..Pray tell .. where do you think this money is coming from?Pray tell too .. if there is no 'action' here for 18mths then what the fk are you doing here.. for someone who was so precise with his KIBO entries and exits?Pray tell (x3) What do you consider our actual pivots points and values to be?..Anyway .. now a question i do want you to answer for me since only a man of your experience can..Something Gods alluded to... regarding corruption in Moz ect..Does our tariff envelope have to be unveiled to the ministry and then thrashed out in a very timely manner regarding the info contained being sensitive and (for the lack of a better phrase) can't be in the 'open air' for too long?..with all sorts of 'eyes' prying?I am hearing once pitched it's a very quick turnaround on a yes or no..Is this correct?Big big week here btw."

[cl0ckw0rk0range] 01/7/2018 08:25

From LSE..."The recent Options RNS stated a sequence of milestones that the company was working towards, to which were attached share options. The first in that sequence was binding JDA (yesterday's financial results RNS informed that this is still targeted for end of July). The second milestone in that sequence was a capital drawdown. This would be, it would be sensible to assume, Return of Historic Costs. There were in total five key milestones, culminating in Financial Close. The two I mention were the first two, in the order I present them below.My interpretation, therefore, regarding that sequence of milestones is that once we have a confirmed binding JDA (e.g. still targeted for end of July), we will subsequently receive capital by way of that drawdown. These are clearly ordered before the next three milestones. In other words, we should expect them to be executed before the other three.The Options RNS was from 29th May, a little over four weeks ago. Given that these milestones are heavily incentivised, I can only assume with a high degree of certainty that this is the company's preferred and expected path (not to mention their being in an RNS and so therefore official company guidance). '2,790,779 options vest on the execution of binding documentation with a new strategic partner [...]''2,790,779 options vest on the first draw down of capital from a new strategic partner [...]'https://www.investegate.co.uk/ncondezi-energy-ltd--nccl-/rns/share-option-grants/201805290700154082P/"Again this makes perfect sense so we should be expecting the next RNS to be re the tariff, followed by JDA.

[cl0ckw0rk0range] 01/7/2018 08:04

Shareholder loan isn't an issue IMO as they will want to convert that to equity after the JDA at a higher share price From the RNS they have working capital to cover until July 2019 so there's no need for a placing in that respect.The company have been careful not to dilute shareholders to this point given large shareholders such as AFC and board members have provided it in the first place they will not want to dilute themselves unnecessarily. Tariff was discussed in Jan with the gov so they know what figure they need to target, see no reason why this isn't just a box ticking exercise, then from there we progress to JDA at the end of July with more detail on the percentage of back costs we are to receive - previously this was c$25m but may now be more as we have spent considerably more time on the project.

[terranadonjohnson] 30/6/2018 22:52

bushranger that statement you refer to is standard for these sorts of things.

It's important to remember that the Loan is a shareholder Loan - in other words it has come from shareholders. As such, these creditors interests are aligned with ours, they being shareholders. If you read a bit more into it, you will see.

Regarding dragging things on, they haven't so far, not one bit. In terms of working capital, if things do take longer, the Placement from May 4th, raised £950, 000, enough to see us though to September 2019. If our partners GE and CMEC were interested in dragging it along, I don't think they would like to drag it on for that long. But to date, I see nothing but positive moves and interactions with them. In fact, if you are concerned about the motivations of GE and CMEC, but especially GE, then I would look to how badly GE is struggling. Their power division (they also have healthcare and Aviation divisions) is struggling. Their move into developing and emerging markets is a major part of their plans for massive turnaround. Understanding this will allow you to have understanding of why GE are not here to mess about What it will take to progress the project sensibly will cost them a pittance compared to what they will get out of the project. No need to play funny games. Just get on with it.

Working with GE and CMEC has in fact actually been the easy bit.

[bushranger] 30/6/2018 21:38

My concern is this statement at end of results... .." The financial statements have been prepared on a going concern basis in anticipation of a positive outcome but it is important to highlight that there are no binding agreements in place and there can be no certainty that the Shareholder Loan will be restructured, settled in equity or refinanced and that additional funding will be raised.
These factors indicate the existence of a material uncertainty which may cast significant doubt about the Group's ability to continue as a going concern. "

This brings back memories of the recent WTI disaster. A company with assets but in debt and ultimately the plug pulled. If no deal is reached by July/August then their will be an attempted raise ? at what price? Does anyone not feel the big players here would be happy for things to drag a couple of months half a year and then make a deal with a company on its knees or even better buy in the liquidation sale? Why make any deal at all before July.

[terranadonjohnson] 30/6/2018 09:14

We shouldn't worry about the shareholder loan. The interests of creditors here is tied with shareholders.

There is however the issue of historic costs being returned as part of the first capital drawdown immediately after jda signed off, minimum of $25million, possibly $30million, given what we've spent since the SEP proposal /;partnership. This is an excellent structuring of the deal and they know it. Hanno in the last podcast discussed how there were milestones in June and July that would unlock shareholder value. He wouldn't be able to say something so strongly worded unless they knew

[terranadonjohnson] 30/6/2018 09:10

Yesterday was a good day. Even if tariff in next week, later than we thought, company still working towards the July end deadline on the jda

Yesterday also showed we have lot of holders confident of the endgame. We'll see a rise Monday and further from there.