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Purely stating the facts Tiggy Remember you many years ago, with all your crap ramping in here. Anyone who wants clarification, just look at Tiggys history, it’s all there for everyone to see. As I keep saying, prove me wrong and whilst your at it why have none of your ludicrous ramps ever come true !!
I did speak to the company about three weeks ago, it may have been Keith, but he didn't give his name. I did ask if we were any further forward as regards discussions \ the proposal, but was told discussions had slowed down due to EID, and any updates would be via a RNS.
I am hoping the company can get this over the line before the next elections in December. Just very frustrating :(
From the Sunday Times article specific mention of Blackouts in nearby Countries: “ He suggested coal could surge above $600 a tonne and still be cheaper than the liquid natural gas (LNG) that coun- tries are buying to replace Russian gas. Europe is turning to the US and Colombia to top up coal supplies. This is driving prices higher, leaving traditional buyers in the dark. Blackouts have recently struck countries such as Sri Lanka, ****stan and Australia.” We know countries like Bangladesh are having problems paying for LNG. How is Hasina going to explain what she has done to avert blackouts. She needs to get that mine at Phulbari under way asap.
Article from today’s Sunday Times Business News: Energy crisis sends Europe back into the arms of Old King Coal The fuel was supposed to be on its way out, writes Jon Yeomans, but with war in Ukraine it is firing up again War has unforeseen conse- quences. And so it proved last week, when Germany's politi- cans, dido n nonced Sic tua ordered coal power plants to fire up in the face of soaring gas prices stoked by Russia's invasion of Ukraine. "From now On, gas is a scarce commodity," said econ- omy minister Robert Habeck, a member of the Green Party that is now part of Germany's coalitiongovernment. He added that there were "no taboos" in the hunt for Energy security, suggesting Germany's phase-out of coal by 2030 could be delayed. Minis- ters have even floated the idea that Germany's dwindling fleet of nuclear power stations could be kept online beyond their shut-off this year an idea long considered verboten in a country that, under for- mer chancellor Angela Merkel, shunned atomic energy after the Fukushima disaster in Japan in 2011.” Hasina needs to approve mining of Bangladesh’s own coal immediately to show she is taking steps to address the Energy crisis in Bangladesh. There is more to the article but the point to note is that Major Government’s around the world are reversing their reductions in coal because they believe it is vital to address an energy crisis that will take many years overcome. Hasina has lost any political or environmental cover she had about coal when all major powers around the world are increasing the use of coal. Clearly they all support using your own coal rather than importing it. Hasina’ legacy will be the lights going out and many factories closing in Bangladesh. Her party will stand no chance of being re-elected. Mr Tang needs to press GCM’s case now by presenting the proposal and forcing Hasina to make a decision in a public forum.
Jazzer, without any hint of news or updates it does not breed much confidence but until the fat lady sings then the dream is still alive. I guess the reason the majority have not sold at around these levels is that at this point you may as well stay in and see it out. I for one have written this off so anything on the upside will be a bonus!
It is very frustrating. I know Dyani and any of the pr/consultants etc are happy to take payment in shares which should make us confident that they think things are going the right way, but if they are the ones who keep selling does this not mean they are getting paid for doing not a lot. Surely the payments should be triggered on milestones achieved, I'm not sure any have been achieved in the 3 years plus we have been waiting. Hope I'm proved wrong but the silence is deafening.
At the time of signing the MOU, GCM and PowerChina had anticipated submitting a formal proposal to the Government of Bangladesh by 28 February 2019. Unfortunately, this deadline was not achievable with more time required for preparation of power proposals, including tariff calculations, and identification of an appropriate potential mine development partner.
Three and half years late so far. Very frustrating.
Bythesea, We have strong support at around 4p which seems to mean that news is expected soon? Ask Hedgehog the professional investor, you know, the one who pops up very now and then to post a load of tosh to suit his agenda when there really is nothing to say .......
It is gross negligence on the part of the Bangladesh Government not to mine Phulbari as a matter of urgency. Government’s around the world are increasing coal production as 80% of global power still comes from fossil fuels. The people of Bangladesh are now suffering power cuts and power is becoming unaffordable relying on very expensive imports. Hasina knew this would happen and has failed to address it for years. Phulbari could have been producing coal and affordable power now. I hope the opposition and the people demands that she resigns so that the power crisis can be addressed.
"Since October 2021, Bangladesh has been forced to purchase LNG at between US$30-37 per million British thermal unit (MMBtu). At these prices, a single shipment can cost US$110-135 million. This is five times the cost in May 2021 and 10 times the cost in May 2020".