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@newbof as a matter of interest, sitting on their hands to buy after the placing?
I'm still trying figure out the point of waiting as you will end up with the same amount of shares either way.
If you hold ten shares now and they're converted to 20 shares is the same as buying the 20 shares after the placing.
What am I missing.
Not a chance with this prime minister in charge!
Until we get something more official/concrete I imagine the SP will just fluctuate in this range. Plus there is the incoming placing so many are probably sitting on their hands
I know I am anyway
The better the news, the lower the price. Who is wrong? Or is this a normal reaction ?
Looking forward to seeing RNS news, it looks odds on to get approval and the shareprice rerate will follow.
Look what happen at the last fund raise - the share price multiplied.
The Market is expecting funding (like last time) which will give financial security for a longer time period now. In the meantime we have the GCM / PoweChina project submission any day and EVERYTHING coming out of Bangladesh from highest place individuals / sources / Media pointing to Phulbari development.
This is no accident and will be part of Govt plan to prepare population for this and why Energy Minister himself (highest position next to Hasina for this) mention it himself.
Also why PowerChina move to CONTRACT stage from MOU few weeks back.
Only one denying it here are desperate traders who have had pants pulled down. Their problem is that LOT can see the points I (and well research others) already make & understand how SHARES WILL BE DIFFICULT TO SECURE!
Upside here is potentially BIGGEST (by far) of ANY other Aim stock so not difficult to understand interest here.
Be Wise in discussion of investment 🦉
Haha Wos...
Your track record on RNS any day is not great ;)
You have this for over a year at a different stock.
Here we only have a month before equity raise for sure... zzzz
BOOOOOOM! - Excellent find mr Searcher and will catch lot of traders out (again) Lol!
Everything pointing to go ahead now and much of this like Energy Minister statement look filter down from HIGHEST level (Hasina).
Even Power China move and Independent Energy suppliers.
Look like we could get NEWS any day now and like before Low Shares / Tight Holdings / Reducing Free Float will make it very difficult for holding accumulation.
Hazardous to trade & Interview will again catch many with pants down! 🦉
From ---- Chowdhury . interview
-At last they are facing up to their problems and conceding that Coal is the answer,
-
-
Q-----“EMRD is seriously considering the exploration and exploitation of its coal resources to relieve stress on gas for electricity generation."
A----"-Bangladesh in a dire energy crisis will benefit from cheaper electricity generated from its coal."
I’m expecting several “coal deal” RNS’s, a submission to GoB of the SoD RNS as a minimum then many many articles in the press about it while we await approval which will be announced in the BD press imo before we can RNS it.
All the above will push us higher and higher. Take your seats, this is going to be epic ;-D
Https://www.yicaiglobal.com/news/powerchina-unit-to-design-coal-mine-in-bangladesh-for-usd9698-million
https://www.bbc.com/bengali/articles/ce7xznl4wj1o
https://www.power-technology.com/data-insights/top-5-thermal-power-plants-in-development-in-bangladesh/
https://youtu.be/4aBUxiF9CWY?si=2lq7rVDDhFYEYYQX
https://youtu.be/wxKMGz2u_mk?si=43znCFzyHIagDHVB
If I've missed any recent articles please feel free to add to this list.
All good signs searcher. This and the other articles emerging in the press about mining own coal. There’s only one mine ready to go and that’s us.
Adamk87, I was just reading the same article an hour ago
If you scroll down the page you will see phulbari Mine mentioned
https://www.power-technology.com/data-insights/top-5-thermal-power-plants-in-development-in-bangladesh/
Project Type Thermal
Total Capacity (MW) 2000
Active Capacity (MW) -
Pipeline Capacity (MW) 2000
Project Status Permitting
Project Location Rangpur, Bangladesh
Project Developer GCM Resources; Power Construction Corporation of China
Description
The project is being developed and currently owned by GCM Resources and Power Construction Corporation of China. The company's ownership stake in the project stands as 80% and 20% respectively.
It is a Steam Turbine power plant. The fuel will be procured from Phulbari coal mine.
The thermal power project will consists of 2 turbines each with 1,000 MW nameplate capacity.
Development status
The project construction is expected to commence from 2025. Subsequent to that it will enter into commercial operation by 2027.
Contractors involved
Power Construction Corporation of China is expected to render engineering procurement construction services for the coal fired power project.
**Project status is Permitting. How do these guys know this? It was previously in a Dormant status. From the website Power Technology, very reputable in this space.
INITIATIVE TO ENSURE SUSTAINABLE ENERGY SUPPLY FOR EXPORT INDUSTRIES NOT VISIBLE
Interview …. Anwar-Ul-Alam Chowdhury (Parvez)
Question regarding coal …..
“EMRD is seriously considering the exploration and exploitation of its coal resources to relieve stress on gas for electricity generation. What is your opinion?”
Answer….
“Please note that our own coal and gas resources are not infinite. Even then we failed to utilize it properly till now. But the fresh discussion about it is positive. But without wasting time government must decide whether it wants to explore and exploit its coal resource. Then technologists will decide how to explore and utilize it. It needs to decide where the investment will come from. Bangladesh in a dire energy crisis will benefit from cheaper electricity generated from its coal. This will also save gas now being used for power generation. That gas can be diverted to industries. Stress on increasing LNG import can be minimized.”
https://ep-bd.com/view/details/article/MTAwNDA%3D/popular-article/title?q=initiative+to+ensure+sustainable+energy+supply+for+export+industries+not+visible
Few weeks back I read Someone's post on hear saying "why has bangladesh built these coal plants if they can't afford to import the coal that's needed to run the coal plants"
Now I'm thinking maybe that was the government's plan all along, first build the coal plants and then tell the public we can't afford to import the coal, its time to extract our own coal
It makes total sense as the Government always knew bangladesh has huge coal reserves
With all of the debt in the country it does make me wonder if we do get the go ahead from Hasina, what is the likelihood of getting paid for the coal mining if other companies in the power generation industry are still waiting for payment? It does make me a little nervous that others are still waiting for payment after a couple of years.
Djm1 - “has the feel of a softening up job,”
I was discussing exactly this with a friend earlier and used the same ‘softening up’ phrase.
I’m actually getting more and more confident by the day that they will announce it soon.
Phulbari is a gift horse to Bangladesh, to refuse to develop it would be a catastrophic blow to the country's future. Some people are idealists and idealogues but when the fan and the excrement are meeting something has to give. Much of whats been reported recently has the feel of a softening up job, the idea the Hasina doesnt know the full ins and outs of Phulbari i dont believe either. This all feels like its for show.
Stokes1610, Thank you for the link….
This is basically just a copy and paste from another paper of the same article from a few weeks ago, and as stated in the article, Dighipara, will not produce coal for at least 8 years (and that’s if all the studies go well), obviously we have already been told by Nasrul Hamid, (the Energy Minister) that this is one of the mines along with Phulbari that he wants to mine and put forward (if he has not done already) to Hasina….
Here are a couple of the main points of the article …..
“The studies further estimated that the mine building would involve approximately US$1.644 billion and 8 years time to commence coal production.”
“Bangladesh requires 33.6 million tonne coal supply annually to feed its installed coal fired power plants”
“The capital and operating costs for the planned mine development and operations remain a major issue. Also, the cost of coal production using underground mining method and its very limited volume of production invite further assessment and justifications for the projects economic viability.”
SO they will not see coal from the Dighipara mine, even if they gave the go ahead today until at the earliest 2032 (if all went well), there is also confirmation that Bara will close, even with an extension in 2029…..
"We have looked at all options and we have to mine Phulbari Open Pit Mining" will be the headline shortly imho because as we know we will be able to see first coal dug from Phulbari by about 2027/ 2028 ……..I just don’t believe that they now have any other options, unless I have very thick rose tinted glasses on lol
Industries such as Aluminium smelting are put on standby only using enough energy to keep the equipment warmed through. Why would investors even consider investing in a country where energy supply is a known regular problem. Even new industries like the data industry would rather invest in countries where the energy shortage problems are less regular.
This is an interesting report. But I think that part of the problem is unreliable energy supplies. All countries have energy conservation policies that allow for rationing of energy supplies during periods of peak demand. The policies work seamlessly for example to cut gas demand industries such as glass making are put on tick over, to save electricity
Https://thefinancialexpress.com.bd/views/coal-mine-development-at-dighipara-and-the-challenges
"Furnace oil-run power plants account for about 23 per cent of the country’s total power generation in the 2022-23 fiscal. Power production cost increased by 29 per cent to Tk 11.52 a unit during this period and use of furnace oil was one of the reasons for a rise in the production cost"
https://en.prothomalo.com/bangladesh/l6ukoajcxm#:~:text=Furnace%20oil%2Drun%20power%20plants%20account%20for%20about%2023%20per,rise%20in%20the%20production%20cost.
google is a great help
Any idea what the crude oil will be for?
Shipping?