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GCM Resources Share Chat (GCM)



Share Price: 20.50Bid: 20.00Ask: 21.00Change: 0.00 (0.00%)No Movement on Gcm Resources
Spread: 1.00Spread as %: 5.00%Open: 20.50High: 20.50Low: 20.50Yesterday’s Close: 20.50


Share Discussion for Gcm Resources (GCM)


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stew200
Posts: 1,358
Off Topic
Opinion:Strong Buy
Price:37.50
Getting very close now
4 Aug '14
To the big one also;

IWM interim study finds open pit mining is possible at Barapukuria.

Big gains to come
 
Searcher
Posts: 36,331
Research
Opinion:No Opinion
Price:37.50
View Thread (2)
RE: National Energy Security Day
4 Aug '14
That article looks like it is from June, which actually is not bad for me to find one that up to date lol ...

new investors may like to have a read at this article as well ...

http://ep-bd.com/pdf/volume12issue1.pdf
Searcher
Posts: 36,331
Research
Opinion:No Opinion
Price:37.50
View Thread (2)
National Energy Security Day
4 Aug '14
On the other hand, Phulbari Coal Mine has been reassigned to Asia Energy for exploration and development to come out of mono fuel-based power generation in the country. Following which, Asia Energy conducted their exploration activities and submitted the scheme of development proposal to the government in 2005 for approval. The government, however, stayed aside for reasons unknown, and rather created a political debate over coal. In last seven years of the last caretaker government and Awami League-led alliance government, no decision was taken to mine own coal. Prime Minister Sheikh Hasina after assuming office this time declared at a meeting at energy ministry that the government would ensure food security first before going for coal mining. The announcement has created confusion among the people about starting coal mining.

In accordance with the primary energy supply and power generation plans of the government, it is now dependent on imports - fuel oil imports increased by 2 million tonnes due to peaking power plants. The government is now working on importing coal for generation of around 10,000 MW of electricity. Works are in progress also to import LNG.

The objectives of observing the National Energy Security Day would be successful only when the government would give priority to mine own resources following the path of Bangabandhu.

http://ep-bd.com/online/details.php?sec=1&cid=7&id=17611
Hipposyawn
Posts: 1,048
Off Topic
Opinion:No Opinion
Price:37.50
View Thread (7)
RE: how feasible
4 Aug '14
Haha, only joking mate.

Personally i think they will open pit mine Bara first. However, as stated in that article & as we have said all along, it isnt economically feasable to open pit Bara alone. I see Phulbari SOD being approved soon after bara commences, i wouldnt at all be surprised if the BOD are already in discussions regarding both projects. Hopefully we may get an inkling of whats occuring behind the scenes when they release an RNS with the OECD publication.

Tonights article is a pretty good heads up that they will come out with the "its not economical to mine bara alone" we need to prep Phulbari too.

Tick tock mate
Searcher
Posts: 36,331
Observation
Opinion:No Opinion
Price:37.50
View Thread (7)
RE: how feasible
4 Aug '14
Hipposyawn, that's not ramping mate, that's just giving my opinion.... ;)

In the end Bara will not imo be given the approval for open pit mining and they will just go straight on to Phulbari... and its going to happen soon because Hasina is running out of time and IS being pushed into a corner with reference to the power situation!!
Hipposyawn
Posts: 1,048
Off Topic
Opinion:No Opinion
Price:37.50
View Thread (7)
RE: how feasible
4 Aug '14
I can certainly smell ramping
Searcher
Posts: 36,331
Observation
Opinion:No Opinion
Price:37.50
View Thread (7)
RE: how feasible
4 Aug '14
Can't you just smell how close this is now..... now where is that report .. let's be having it and be on our way, you can just see how this hopefully is all finally coming together now
fatherjockstrap
Posts: 3,483
Off Topic
Opinion:No Opinion
Price:37.50
View Thread (7)
RE: how feasible
4 Aug '14
If all those studies are done properly and made open to the public, there remains no ambiguity; and then only, a project will not bring disaster but joy to all stakeholders.
fatherjockstrap
Posts: 3,483
Off Topic
Opinion:No Opinion
Price:37.50
View Thread (7)
RE: how feasible
4 Aug '14
IWM interim study finds open pit mining is possible at Barapukuria.
fatherjockstrap
Posts: 3,483
Off Topic
Opinion:No Opinion
Price:37.50
View Thread (7)
how feasible
4 Aug '14
http://www.thedailystar.net/op-ed/barapukuria-open-pit-mining-how-feasible-35759
AN article by mining engineer Mr. Mushfiqur Rahman, titled 'Open Pit Mine Development in Barapukuria,' was published in The Daily Star on July 14. Mr. Rahman referred to an interim report of the Institute of Water Modeling (IWM) on 'Hydrological study and ground water modeling for the northern part of Barapukuria coal mining,' and indicated that approximately 344 million cubic meters of water per year would be required for the de-watering process. Also, the study findings show that the de-watering can be managed for developing an open pit mine and for operation in the Barapukuria coal field. According Mr. Rahman, this is the first attempt by the government to seriously try to assess the much talked about water management issue for a coal mine operation using open pit technology. The optimism expressed by Mr. Rahman on coal management is appreciated.

We, the activists in the field working for the people who may suffer because of such a project, often express doubt about water management for open pit mining at Barapukuria or Fulbari. State Minister for Power Energy and Mineral Resources Mr. Nasrul Hamid disclosed on July 10 that the government has decided to start a “small open pit coal mine” in the northern part of Barapukuria Coal Field, Dinajpur. The mine may feed a 1,300 MW mine-mouth coal fired power plant. The minister wishes to commence building the open pit mine within three months.

This attempt seems to be very pragmatic at first glance, but we know that an open pit mine deeper than 100m is not economically feasible. The bituminous coal layer at Barapukuria and Fulbari lie 118m to 503m deep in the shape of boats. There, the underground water pressure on the Dupi Tila formation is so heavy that consultant Wardell Armstrong, in May 1991, suggested well and tunnel method for extraction. Experts in our country often cite the example of Hambach Cologne open pit mine in Germany. But there, coal of lignite quality lies at a 100m to 500m deep slope. They open a pit at 100m and then extract the rest by tunneling. Underground water pressure is also not very strong there, so it can be managed by pumping. At Barapukuria, two 6m diameter metal shafts were dug at depths of 326 and 320 meters; roadways in several directions were built from their bottom for coal extraction by Long Wall Top Coal Caving method.

After expiry of the contract with the Machinery Export and Import Company (CMC) on August 31, 2011, a new contract for Management, Production, Maintenance & Provisioning Services (MPM&P) was signed with the consortium of CMC and Xuzhou Coal Mining Group Corporation (XMC). The Barapukuria Coal Mining Company Limited (BCMCL) website has the following extraction figures.

The Barapukuria coal deposit lies in six layers between sandstone and mudstone, of which one layer is 36m thick. This bituminous coal has only 0.53% sulphur, so it is idea



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