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Excellent article and the author has a good understanding of the dire state of affairs and incompetence of Hasina's government to deal effectively with the crisis.
The problems are carefully side stepped by the cabinet and the lead-times involved to move the populace and mine Phulbari will simply be too long. She has no incentive to do anything, so, as per the norm, nothing will be done
'The experts have long cautioned that such huge plans for coal import (as much as 80 percent of Bangladesh's energy needs by 2041) will have dangerous consequences both for the country's foreign exchange reserves and environment.......
Experts have long warned that this overreliance on imported fuels would put the economy at severe financial risk...........
The prioritisation of foreign dependency, neglect of domestic resources, and insufficient focus on renewable energy alternatives demand urgent attention...........'
https://www.google.com/amp/s/www.thedailystar.net/opinion/views/news/our-energy-plan-full-pitfalls-3528961%3famp
More opinions like this please...........
'There is no alternative to reversing the damage caused by unsound policies whereby the country moved away from self-reliance to a mostly import-driven national energy policy. There is still time to get out of this get-rich-quick mindset before the whole house of cards comes crashing down on everyone's head.'
https://www.google.com/amp/s/today.thefinancialexpress.com.bd/editorial/slashing-of-subsidy-spells-doom-1706276645%3famp=true
'Plus on top of that has the right to buy another 300,000,000 shares at 1.6p at any time in the next 3 years?'
Think you've misread that - or am I missing something, my understanding is the 303k warrants to Allenby (the agent) are payment for arranging the placing, that being the case reflects confidence in getting a return.
Mr Shatebare do not read it same way as you lol - i read £500K subscription share + Allenby Warrants but happy to be corrected.
As you say good result on few level:
- Company manage £500K instead of Drawdown £300k they originally go for.
- Drawdown still in reserve if needed
- Share price was 1p when last Drawdown agreed. With price rise over shirt timeframe company did manage to arrange funding at 1.65p (good move to set aside drawdown for new & larger funding package).
With Bangladesh Foreign Reserve / Energy (with associated manufacturing base impact) situation heading for catastrophe I expect fast developments in next few months leading to May cash timeframe.
I expect share price will be much higher by this time but also with good security of STILL having last Drawdown option in place.
Management actually look like they play this really well 🦉
YouKnowItsRight - LOL my mood is only a reflection of the shareprice and RNSs... its a surprise any of us are sane. At least its gotten interesting here again :)
nomlungu - you are right... we still have longer term finance to sort... but come on... for a company like GCM who haven't made a single penny ever... to now have £500k to last till may... plus still have the option to draw down the £300k from polo....yesterday we all thought it was game over - we aint doing too badly - so let us have our day hahah
Funding sorted? But the RNS states: "The Company will need to carry out an additional fundraise before the end of May 2024 to fund its working capital for the next 12 months"
FUNDING IS NOT SORTED
Im up for a jolly to the big smoke. Will be a first for me in 15 odd years of being invested. Any excuse for a few shandies 👍
The highs and lows of Sharebare2! :))))
Reading that RNS again... does it mean someone has brought a subscription of 30,303,040 shares now at £500k
"The Subscription has raised £500,000 (before expenses) through the issue of 30,303,040 Subscription Shares at the Subscription Price. "
Plus on top of that has the right to buy another 300,000,000 shares at 1.6p at any time in the next 3 years?
"In addition, Allenby Capital Limited, who are acting as agent in respect of the Subscription, will be issued with 303,030 warrants to subscribe for new Ordinary Share at a price of 1.65 pence per Ordinary Share exercisable for a period of 3 years from Admission."
The first subscription alone represents a huge 12.7% in the company:
"The Subscription Shares will represent 12.7 per cent. of the Enlarged Issued Share Capital."
if they to exercise their warrant too... thats another 12.7% !!!
This is a massive player coming in now who wants a BIG piece of this cake.... very interesting indeed.....
Haha oh well at least its getting exciting here !!
No one was expecting that today ! Great news of course!
£200k more than the £300k we were expecting
Someone new pumping money in.....so suspension must be lifting soon.
still leaves us with £300k Polo loan if we need it...
Lets hope the tiff between Tang and Christian ends soon and we move forward !!
I am actually excited now to see who the new NEDS will be... hopefully some top Bangla people to help move this project along.
That's also true of previous funding - who is buying? 2024 has GOT to be last chance saloon. If you can't sell coal during the current mess, then when can you sell it?
Suspension and annual report
As announced on 28 December 2023, the Company's shares have been suspended from trading on AIM pending completion of an ongoing funding event and release of the Company's financial statements for the year end 30 June 2023. It is anticipated that the Company's delayed financial statements will be announced on 29 January 2024.
Further updates on the lifting of the suspension of trading in the Company's shares will be given in due course.
…we don’t that. We don’t know anything really other than a mystery party has stumped up £500/.
But it does look as though suspension would be lifted or the shares can’t be admitted to the exchange.
Phulbari was correct with his 12.52 post yesterday.
Great news. As the RNS stated GCM will look to resolve the accounts and funding before the end of Jan24. The big question is who has pumped the money in? They obviously feel the chance of a good return is possible and the outcome for GCM is looking good. Or was it Tang putting up the money to pay his wages whilst further strengthening his grip on GCM with another 30millioiln shares. And why would Allenby take share warrants if the company is about to be delisted?
The suspension should now be lifted and allow trading again.
The AGM should be announced soon also. That's going to be interesting. Is it a personal issue with Taylor-Wilkinson, will he be replaced immediately, or is it a ploy to delist the company. The funding issue could have done the delisting so why fund until May24 if he wants to delist the company in February. If Taylor-Wilkinson was only a temporary fit then why is he refusing to leave? Like the investor, does he see a good outcome coming and doesn't want to leave unless he's forced?
Seems a lot is happening internally. If greed is at work then that would indicate that there is a pot of gold coming.
Every shareholder concerned about their investment should be attending this year's AGM. Every vote counts and we can't allow GCM to be delisted.
Mr Many
Yes biggest holding in MATD - how did you know? lol
Think only few people read BB here at moment but sure thus will change very soon when circus arrive - Upside just so big & in country development mean they will not be able to resist.
What this reference to MATD do is not tell anyone to buy there but show how I look at risk profile / investment size.
Anyone who look at ANY stock must do OWN research.
Glad to have position here & look forward to investment growth with more indication of in country development - also understanding my investment position v rest of Portfolio.
Atb 🦉
You can only say that now he going livininhope!
Anyway................................. back to my main invest now which is GCM.......pmsl..sorry.....i'll get my coat!
Hadn't seen that news Manu!!!
I wish he had been at United!
Yep Manu I did see the Klopp news.
Pep not far behind once City are found guilty!
Gooner - I couldn't help it apologies! :)
Off topic - have you seen news re Klopp - "Liverpool manager Jurgen Klopp is to step down from the role at the end of the season, saying he is "running out of energy".
He;s done well to be fair - as much as it pains me to say it!
Manu
Yes wise is invested in MATD but he doesn't want to talk about it.
Much 🙈🤣
So then. The fat lady has been sent home until further notice.
Definitely good news! Not best case scenario ofc but far from worst case and as already mentioned, no way someone is giving up 500k in warrants (risky play) unless they are confident of a big pay off. GLA
Agreed Pappi - who would put in £500k if they weren’t confident of a positive outcome?
Allenby must also be confident, so that’s another plus in my kind.
Wiseowl - I didn’t know you were invested in MATD ……. You should have said! 😉😉
Show more confidence Allenby paid in Warrants also!