Please find attached this mornings Results Announcement for Ncondezi Coal Company Ltd (AIM: NCCL).

Highlights are below.
Enjoy the weekend.
Best regards, Philippe
Ncondezi Coal Company Limited ("Ncondezi" or the "Company") Audited final results for the year ended 31 December 2010
Ncondezi Coal Company Limited (AIM: NCCL), a coal exploration and development company with coal assets in the Tete Province in Mozambique, announces its audited final results for the year ended 31 December 2010:
Highlights:
� Successful fundraising of �35.6m (US$52m) and admission to AIM on 10 June 2010
� Maiden JORC coal resource of 1.8 billion tonnes (bt) classified on licences 804L and 805L (the "Ncondezi Project") by SRK Consulting
� Scoping study on the Ncondezi Project completed in February 2010 by SRK Consulting: o Indicated economic viability of 10 million tonnes per annum (Mtpa) export thermal coal operation with first production in H2 2014/H1 2015 o Coking coal potential at Ncondezi Project o Total mine capital cost estimated at US$376m with a life of mine of 37 years and average life of mine FOB cash costs of US$48.6/t
� Over 16,500 meters of drilling completed during 2010 from 81 percussion holes.
� Mapping and Aeromagnetic Surveys completed in October 2010, providing better definition of surface geology and structural features at the Ncondezi Project
� Definitive Feasibility Study ("DFS") Work Programme commenced in August 2010 and scheduled for completion by July 2012.
� Equity placing in January 2011, raising �23.4m (US$36.5m) from institutional investors and introduction of a Chinese strategic investor.
� Dos Santos call option exercised in January 2011 at an exercise price of 110.7 pence.
Financial Highlights
2010 2009
US$000s US$000s Loss after tax 472 807 Loss per share expressed in cents (0.004) (1.0) Cash and cash equivalents 38,068 15 Net assets 69,436 2,531
Graham Mascall, Chief Executive Officer of Ncondezi commented:
"The Company has had a very successful 2010 including the completion of our Initial Public Offering and listing on Londons AIM market together with the completion of the first phase of a fast track drilling programme at the end of the year.
During 2011, we plan to enhance shareholder value through greater definition of the scale and scope of the Ncondezi Project together with the identification of opportunities for rail and port infrastructure solutions.

The Groups target and objectives for the next 12 months remain ambitious and I am confident these will be met by our experienced and dedicated team."
Philippe Polman Account Manager Direct line: +44(0)20 7861 3921 Mobile: +44 (0)7841 672 830 Pelham Bell Pottinger 5th Floor, Holborn Gate, 330 High Holborn, London, WC1V 7QD Tel: +44 (0)20 7861 3232 Fax: +44 (0)20 7861 3233 www.pelhambellpottinger.co.uk PLEASE NOTE OUR NEW OFFICE ADDRESS & TELEPHONE NUMBERS AS OF MONDAY 24 MAY 2010 ....................................... A CarbonNeutral� company
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