Mozambique Energy: Ncondezi Energy raises capital to advance Moz power project

Jindal Coal Operation in Tete – Mozambique

Ncondezi Energy said it had raised £950k from a share placing to strengthen its balance sheet as it completes a joint development agreement for a coal and power plant project in Mozambique.New shares were issued at 6.25p each, a 16% discount to their closing price on Thursday.

‘Funds raised from the placing put the company in a position of strength to finalise discussions with its potential partners,’ chairman Michael Haworth said.

At 8:29am: [LON:NCCL] Ncondezi Energy Limited share price was -1.05p at 6.4p.source:

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