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Hit already & forward sold by look.at price action.
Buy or not - make own decision! 🦉
But what we do know: 30mln shares will hit market .
Probably monday... zzzzzz
Doubt nobody on here knows for sure if Hasina is attending on Sunday Steve.
My thoughts are not. But that’s just a guess.
I’m thinking it will be the ministers deciding what is the best option for the country & then passing on their recommendations to Hasina
Dhakka Tribune – Budget insights
'reducing unnecessary imports, reducing unnecessary expenditure, reducing money supply, and cutting down on subsidies '
' giving priority to fast-track infrastructure projects'
The budget preparation committee believes that the next budget's main goal is to reduce inflation. To fulfil this target, the budget will be formulated on the basis of five pillars. These are: increasing bank loan interest rates to control inflation, discouraging or reducing unnecessary imports, reducing unnecessary expenditure, reducing money supply, and cutting down on subsidies
giving priority to fast-track infrastructure projects
The estimated inflation for the current financial year is 6.5%. But it was not possible to meet the target. Last February, the inflation rate was 9.67%. Therefore, the next budget may target inflation at 7.5%.
However, in the new budget, the pressure to pay the subsidy arrears of the past few years will be high, resulting in an increase in overall expenditure in the subsidized sector.
https://www.dhakatribune.com/business/economy/344333/what-is-in-the-next-budget-to-tame-inflation
To be honest searcher, i was 50/50 which way this would go today. More than happy if it holds around here considering we’ve just raised £2mil 😄
Think we get a positive response from the 21st April meeting and i think they grant licence in the days after
Big big move up due.
Last hour to go
Approval on Monday then from Hasina - hadn't realized she was head of ministry- committee had better watch out.
No one expecting Project Approval at Sunday Energy Meeting - we expect some reference to issues which indicate (further) progress to Approval.
"Under the Contract APPROVAL is ASSURED although there may be several iterations involved to clarify issues ahead of Approval" - RNS 29th Jan 2024
The Energy "NEW PLAN" will be discuss. As same RNS state -
"the Govt is working to offset this risk (exposure to world energy market) with "NEW PLANS" aimed at REDUCING IMPORTD by DEVELOPING ITS DOMESTIC RESERVES, principally COAL"
We should look for reference to "New Plan" which is alogn with Phulbari development.
At 1st Energy Meeting do we think "NEW PLAN" will not be discussed!!
I buy some more just now (31,618 @7.23p 14:31) as part of Accumulation strategy -everyone make own decision. 🦉
Agree Searcher at 2pm there was 416,518 on the bid at 7p
Expecting a burst of buying volume into close
Looks strong above 7p and Full Ask to buy now
Watch people scramble
PM is actually in charge of this ministry...and 5 others, doesn't mean she will be there but .....
Among the ministries, she will head the defence ministry, the power energy and mineral resources ministry, cultural affairs ministry, and the labour and employment ministry, according to a notice issued by the Cabinet Division today (11 January).
https://www.tbsnews.net/bangladesh/politics/pm-hasina-head-cabinet-division-armed-forces-defence-and-three-more-ministries
Well it looks like 7p won't be giving way anytime soon....
We have just been in auction, when all the background orders show up, and it looks like there is a 100k and a 226k order sat there waiting to be filled ;)
Nice to see ;)
Advance indication for us!
Https://www.gcmplc.com/shareholders/share-capital
https://www.dnb.com/business-directory/company-profiles.dg_infratech_pte_ltd.8bc52aacfed8150069c2984e559bf81a.html
right KingClough and some have gone here
Mankiniparty, you took the words out of my mouth lol....
So the meeting on Sunday ! The prime minister not attending them?
The green light being given at sundays meeting is a bit optimistic to say the least 😂 Share price won’t be at 7p prior to that announcement.
I think getting positive news regarding the project is highly likely though
The market for GCM will always be opaque imo because of Chinese, Bangladesh and Tang involvement but I maintain the set up will benefit shareholders as the SoD seems to be the only thing on the table and am very hopeful for the green light at Sunday's meeting.
WOO. you are right here, and could be spot on.
.. Just because CCM sold enough, in the last placing, to recoup their £500/_ outlay ( think they retained 5 Mill shares for nothing), it doesn't mean that Axiz CM will do the same.
... They could well retain a much larger % and only sell down a portion of the 30 mill they have to place.
... How much will they retain?... We don't know.
... But
... When the sp moves up, you will know that they stopped selling a few days earlier
Cash banked share capital as of 19th April now stands at 276 million shares
Mankini... That's a very good point and should be looked at in a positive light.
... About 60 mill shares have been fed to buyers at an average of about 4p, and we are trading at around 7...8p....
..thats says it all... Follow the money
Thanks doze for your insights and all contributors. We are always learning.
Is that why the market is fairly confident as well as is reflected with the current trading zone?
Well, the market generally always knows and that is why they are happy to trade well above PP.
As many have put forward, the information to hand is without doubt that GOB have to act now and mining their own coal is THE ONLY WAY FORWARDS at this time. PC have such deep intel with ongoing projects in Bangladesh and for sure are in the know that acceptance of the proposal submission is very likely or almost a given otherwise they wouldn't have wasted their time with MOU to contract and the media and Energy minister wouldn't be wasting his ENERGY shouting from the rooftops about the importance of them mining their own coal as the part solution to their economic problems.
My opinion only.
Wonder if the cheque for £2, 000,000 has been banked yet, share capital still showing 245 million, must be due soon