Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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He went 1st Nov - now CFO of AMRE Power which are next gen electric (bit of swing away from coal - right move Jason).
I can't take another open raise. 1) no more cash I want to sink in here 2) who will buy it??
I have started off 2022 with the same outlook as every year - this is the year I will be able to sell my GCM share as they must be close to presenting! :(
Think they brought James Hobson back on board, as a Non Ex director, to get the numbers up and keep our new Nomad happy... Surely they will have to fill that space at some stage (I did volunteer.).
... I did suggest, to the Co, that maybe it makes sense to raise funds by offering stock to PC rather than random UK ii s, but the response I got didn't sound like they were going along that route.
... Whatever they do, I hope its more imaginative than a bog standard placing
That would be great and is a nice idea. I'm not so sure they'd actually stump up £1m as I assume they are after the higher participation in the project without cost. However, £1m isn't a lot of money to PC. Wonder if GCM will get around to replace Jason Hobson.... Maybe nothing to do for a new employee until we actually get going. Just get on with it GCM!!
Yes TMF I too would like to see the extra funding coming from China.. More specifically I would like it to come from Power China...
.. By issuing them 25...35 mill shares @3/4P we would raise a much needed £1 MILL, but more importantly PC would gain around another 5% of the overall project...
.. This could go somewhere towards meeting their desire to gain a larger slice of the pie before they will sign the JV, and let us proceed to presenting the package to GOB
As China and India are committed to coal for decades it is increasingly difficult to understand why Hasina would not approve Phulbari. The political risk of not doing so seems to be massively higher than continuing her position. Coal is vital for energy security but also it is the only affordable energy. If Bangladesh doesn’t use its own coal it will not compete economically with China and India.
https://m.theindependentbd.com//post/272381
In the meeting, FBCCI senior vice-president Mostofa Azad Chowdhury Babu said China and India would continue to operate coal-fired power plants for another 20 years to sustain economic growth.
So, Bangladesh should also take initiative to ensure the best use of coal reserves in the country, he said.
The specific Coal quotes
“ Not exploiting own coal reserve is another poor decision. Coal mining applying appropriate technology does not cause significant environmental impact. We rather remained almost exclusive depended on natural gas”
and
“ But there is also absence of required initiatives. The rationale for leaving substantial quantity of superior quality coal must also be reviewed. Our carbon footprint is nothing mentionable. Many countries of the world developed utilizing own coal resources and many are still relying on it. Coal alone can create 75 years energy security for Bangladesh. It is time for giving it a serious fresh attention.”
It is quite clear that there is strong support for Bangladesh to use its own coal. The low environmental impact and 75 years of energy security are compelling aruements for mining at Phulbari.
Extracts from the Bangladesh Energy conference:
Gas is extremely valuable commodity now. LNG import and supplying at whatever might be the costs is a weird concept. Going for LNG import, leaving our own exploration uncared was a major flawed decision. Not exploiting own coal reserve is another poor decision. Coal mining applying appropriate technology does not cause significant environmental impact. We rather remained almost exclusive depended on natural gas. We have to reviewer whether it would remain economic using expensive gas for fertilizer production. We have to decide which sector would use considerably cheaper Legacy Gas, naturally available. We have decide which among the industrial, domestic, fertilizer or power sectors would continue using depleting own gas resources. Legacy Gas should be used, wherever maximum value addition is made.
Abul Kasem Khan observed that growing into an exclusive imported fuel depended economy would entail huge risks. This may adversely impact economic growth and development process. There remain significant possibilities for finding gas in Bangladesh. But there is also absence of required initiatives. The rationale for leaving substantial quantity of superior quality coal must also be reviewed. Our carbon footprint is nothing mentionable. Many countries of the world developed utilizing own coal resources and many are still relying on it. Coal alone can create 75 years energy security for Bangladesh. It is time for giving it a serious fresh attention.