Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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All his negative comments regarding the project have all been fully addressed in feasibility studies. These type of people are never interested in facts.
Also, considering how close we are, have we heard of any more protests in Phulbari against the mine?
No protesters at the AGM for the first time.
Sounds like the author is a bit out of date with his views on public opinion also
One of the questions specifically asked at the AGM was about what inter-action had GCM had with the people of Phulbari to ensure that there was not the same uprising as in 2006, Gary spent a lot of time on this subject and went into a lot of detail about it, but in short he said that a massive amount of work had been done on the ground in recent years and that they have been in very detailed discussions with the people of Phulbari along with discussing about rehabilitation etc etc and that they were very confident that the people of Phulbari were now in favor of Phulbari being mined....
Its probably written all the time, but it did make me smile when i read at the bottom of the article....
"Views expressed in this article are the author's own."
Another scenario out of James's head.
Let us say that the government have agreed to go forth with the open pit mine.
How then do we think the profits will be split?
Given current stake holders are;
Do Power China own any GCM shares?
GCM. ?
Power China. ?
Bang Gov. ?
GCM would share their cut out acordingly, I assume
Gcm Stake holders ;
Polo resources 17.8 %
Dyani. 12 %
Infratech. 4.2
I know the SP would rise and everyone here would be long gone i.e. no one really cares who gets what.
But this is another interesting angle on the whole situation.
Mr James - only one "desperate" is you sir & demonstrate with your own post history (ones who reaf this BB regularly understand this clearly about you).
My reason for confidence is clear - just look at all RECENT articles from different sources that coming out of Bangladesh & even protestor understand Govt looking at this now when before they say no way.
Why?
This is where Economic situation need to be understood. I mention IMF weeks ago when someone here say they are "expert on Hasina" - I tell them maybe more useful to understand lending process at Govt level !
Now we see development with Petro China / Domestic Energy Suppliers and ask yourself very BASIC question - what make those BIG players so CONFIDENT?
In countries like Bangladesh they will have access to GOVT at very highest level - maybe think about this.
Buy or not no problem - many if us understand OPPPORTUNITY is BEFORE any official announcement AND with research base on multiple sources.
Maybe "joke" is one who try to play BB and argue against very strong case for investment yes?
Even funding situation is known for weeks and like I say just look at last finding round with HARD PRICE PUSH because of small impact on postal shares v Upside potential.
Many clever ones are keeping shares tight while the real "desperate" ones try to play BB with straw person arguments š
Be Wise š¦
They arenāt being ignored. They are being addressed in the SoD.
The arguments against open-cast mining seem like weighty reasons that cannot simply be ignored. Or is it all just propaganda?
This is the view of an enviromentalist regarding Phulbari article dated today. Note that he says ;
A plan to extract coal through open-pit mining in Phulbari and the northern part of Barapukuria coal mine area is being revived by the government, despite strong opposition by locals and environmentalists due to its devastating impact on agriculture, environment, and livelihoods. According to BBC Bangla, the ministry of power and energy will submit a proposal in this regard shortly at the highest level of the government for approval.
In fact, when coal power plants were being built one after another in the country, we expressed our concern that even though the carrot of cheap electricity generation using imported coal was shown to justify the projects, once the power plants are commissioned, it would be said that importing coal from abroad requires a lot of dollars, so local coal needs to be extracted. Unfortunately, this concern has now proved to be valid.
He then goes onto his reasons why open pit mining is bad.
https://www.thedailystar.net/opinion/views/news/why-open-pit-coal-mining-phulbari-will-be-disastrous-3578001
If youāre a regular reader of the bb and believe jamess is invested in GCM then more the fool you. This is the same guy shouting sell and anti tang at 2p because he got shafted out of his polo holding. Heās been subtly (today) and not so subtly (past few weeks) deramping ever since..i understand trading with caution and i know a salty individual when coming across one and he is certainly the latter.
Last week he was suggesting hypothetical scenarios, such as āwhat if power china pull fundingā. This week itās placement. Lol
Power China inked deals worth over CNY1.1 trillion (USD152.4 billion) last year, a 13.2 percent increase on the prior year.
ā¬ļø I donāt think theyāve stuck around GCM 6 years, lobbied government and carried out a joint proposal just to pull the plug on less than 0.5% of last yearās investments.
Searcher is right in suggesting any placing wonāt have the slightest difference over a shorter to medium term and IF it is done before the end of May itās been done because approval also arrives before the end of May with someone wanting a piece of the cake (likely someone Tang affiliated) imo.
Jemesss, yes like you, I believe that it really is decision timeā¦ I know itās may sound surprising , but I like some other poster I know would rather they do the fundraising sooner rather than later, just to take another negative (to some) out of the equation, but in theory GCM have already stated in the RNS that this does not have to be done until the end of Mayā¦ by then the share price could potentially be in a very different place ā¦ just think 5 weeks ago we were about 3p , at the beginning of February we were at 1p ā¦. If we get even a hint of more positive news, I wonder where the SP will be in May ā¦.
GL and I hope it works out in what ever your choice mate
@Searcher, all fair comments.
It's coming down to line for everyone it seems.
I will pick up some more shares after the placing.
If the Government does give the go ahead, then you will get investors falling over themselves wanting a piece.
In the light of frequent coal shortages, diversifying energy sources, promoting energy efficiency, and increased domestic coal supplies are crucial for a more stable energy future. Examine.
https://www.insightsonindia.com/2024/03/29/in-the-light-of-frequent-coal-shortages-diversifying-energy-sources-promoting-energy-efficiency-and-increased-domestic-coal-supplies-are-crucial-for-a-more-stable-energy-future-examine/
Crazy Searcher.
āThe government is bound by its commitment to the IMF-bailout package to maintain a threshold on its foreign exchange reserve. That is non-negotiable. ā
They could have avoided all this by green lighting Phulbari 10+ years ago (at least).
They have to sort this out - and soon.
As I keep on saying, imho, they can not afford to ignore Philbari and keep importing coal because they will bankrupt the country!!!
https://thefinancialexpress.com.bd/views/columns/capacity-payment-will-lead-to-bankruptcy
Jamesss, just to counter your post and thoughts, itās actually the government of Bangladesh that are up against the clock,ā¦. They simply can not afford to continue to import coal as they do and ignore Phulbari ..
You ask the question about future funding before the end of May, which I understand, but this does honestly not concern me at allā¦.. we were assured at the AGM that GCM had already had interest from parties wanting to take part in the placing and to me Iām really chilled about this factā¦ even if they did a fun raise on Tuesday when we start to trade again, at a discount it would add anything form about 10 to 20 million shares depending on how much they want to raiseā¦.. do you really think this is going to have that much overall effect to the SP as we move forward if we got the green lightā¦. I donāt!
'Wise Owl' you're turning into a bit of a joke with how biased you are with GCM.
GCM have a good chance, but are also against the clock with when (if at all) the mine will get approved.
The money situation is pretty much time dependent too.
You sound like a stubborn kid.
Thatās positive for you Phulbari
"No sign that Hasina is ready to sign"!!
Unless you know Hasina personally (or pillow buddy) yiu cannot say this. It is like last time when you say you are "expert on Hasina".
This mean nothing really!
We look at all Economic conditions, In Country media, Energy Minister statement and also company Intel in matter - also Power China / Independent Power Supplier developments with Power China / GCM presenting now direct to Hasina.
If you say signature have not been given - of course this is correct and why share price not in TRIPLE FIGURES.
If you say no sign Hasina ready to sign think this is wrong way to put question sir. What do you want? She write it on her panty and send to you?
Mr Shiwnetgemoney - Mr Searcher put down some interesting views on this. This fundraise is expected & so is PpwerChina/GCM submission to Govt to keep Investor sentiment up.
Remember last time we not this close and no PowerChina contract development but price did push HARD after funding and dyd not reach funding level.
š¦
No insights or views on that other than it has always come good in the past.
Whatās you take on further fundraise Phulbari - in the next weeks and at what price?
Some of the runes look good and I understand the enthusiasm, but we have to keep in mind that this is not over until the fat lady sings. Although pressure is building on her, and around her, there is no sign yet that Hasina is ready to sign.
......that's quite positive and the timing impeccable - let's hope so. All that coal which is going to be trapped in Baltimore will provide another 'spanner in the works'. Luvvly Jubbly
Bangladesh will not look back once they agree to mine pullbari
Yep, all adds to energy security problems. Something even the UK has fallen foul of with French electricity being used.
GPback it's not just pirates you need to worry about, look at this scenario, who expected this
https://oilprice.com/Latest-Energy-News/World-News/Baltimore-Port-Closure-Threatens-US-Coal-Exports.html