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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Ncondezi Energy Ltd    NCCL   VGG640631039

NCONDEZI ENERGY LTD

(NCCL)
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Delayed Quote. Delayed London Stock Exchange - 08/19 11:35:02 am
6 GBp   -4.00%
08/15NCONDEZI ENERGY : Holding in Company 15.08.19
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08/08NCONDEZI ENERGY : Holding in Company 08.08.19
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07/31NCONDEZI ENERGY : Exercise of warrants
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Ncondezi Energy Shares Rise on Agreement With CMEC, General Electric's Swiss Unit

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07/23/2019 | 06:47am EDT

By Oliver Griffin

Ncondezi Energy shares soared Tuesday after the company said that it has signed a joint development agreement with China Machinery Engineering Corp and General Electric Co.'s (GE) Swiss business to develop its project in Mozambique.

The company said the agreement with CMEC and General Electric Switzerland Gmbh will see the development of its 300 megawatt coal-fired power project and coal mine in Tete, Mozambique.

Ncondezi said it is expected to hold a 40% interest in the project and will be responsible for 40% of the development costs to final close, based on an agreed budget.

The parties have agreed to reimburse Ncondezi's historical development costs to date, the company said.

"This is a significant milestone that should materially enhance the credibility of the project in Mozambique and with international financiers, helping to unlock key development processes," Non-Executive Chairman Michael Haworth said.

Shares at 1021 GMT were up 26% at 8.85 pence, having hit earlier highs of 9.90 pence a share.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

Stocks mentioned in the article
ChangeLast1st jan.
CHINA MACHINERY ENGINEERING CORP 0.63% 3.21 End-of-day quote.-13.24%
GENERAL ELECTRIC COMPANY -1.37% 8.67 Delayed Quote.14.53%
NCONDEZI ENERGY LTD -4.00% 6 Delayed Quote.6.19%
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Latest news on NCONDEZI ENERGY LTD
08/15NCONDEZI ENERGY : Holding in Company 15.08.19
PU
08/08NCONDEZI ENERGY : Holding in Company 08.08.19
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07/31NCONDEZI ENERGY : Exercise of warrants
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07/30NCONDEZI ENERGY : Exercise of Warrants 30.07.2019
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07/24NCONDEZI ENERGY : Signs Joint Development Agreement with China Machinery Enginee..
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07/23Ncondezi Energy Shares Rise on Agreement With CMEC, General Electric's Swiss ..
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05/31NCONDEZI ENERGY LIMITED : - Shareholder Loan Conversion and Correction
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05/30NCONDEZI ENERGY : SHL Conversion and Correction 30.05.19
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Financials (USD)
Sales 2016 -
EBIT 2016 -
Net income 2016 -
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017 -
Capi. / Sales2016 -
Capi. / Sales2017 -
Capitalization 23,6 M
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Last Close Price 0,07  $
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Managers
NameTitle
Michael John Howarth Non-Executive Chairman
Estevão Tomas Rafael Pale Independent Non-Executive Director
Jacek Glowacki Non-Executive Director
Aman Sachdeva Non-Executive Director
Hanno Pengilly Chief Development Officer
Sector and Competitors
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