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News TODAY!
"Bangladesh to seek over 36Bn yuan in Chinese loans - Bangladesh will seek a loan of more than 36 BILLION yuan, equivalent to 5 Billion dollars, from China to reduce pressure on its dollar reserves."
"Sources in the Ministry of Finance and Commerce said the Prime Minister's Office has already given the approval"
Re: IMF Meeting - "Foreign reserve could not be maintained. To get the third tranche of the loan the IMF had a condition to preserve net reserves of $19.26Bn at end of March and $20.1Bn by the end of June. Currently the net reserve of Bangladesh is about $15Bn"
Source: BBC Bangla (bbc.com/Bengali/articles/cp0gpg53d8jo)
Bangladesh in serious trouble - running to China for help - Conditions / Way out will need to be presented!
Phulbari - GO!
There's not an over hang. The offer is thin as you like. Clearly there's no sellers here only buyers recently
You’d think they would push the approval through knowing it 2 years to coal production. China power being involved may reduce that time frame but the green light must be nearing
Overhang still being played out. Not sure how long this will take. Only a good rns will drive this forward. We wait in anticipation.
….. going back up now. 😉
Just tried to sell 500k shares in one go and its well bid. Looks like market taking a stance here and cleaning up all the remaining loose stock. Would expect to see some upside from here. Delayed buys to print soon
Have a feeling we see some strong buying and a tuck back into 6p range
EVERY Intel lead IN Country / IN Company and other Economic factor which put Bangladesh in this situation point to ONE OUTCOME - PHULBARI.
These Intel sources also give us TIMEFRAME for Project Proposal which fit in with Energy Committee Meeting.
*Price impact factor to (temp) halt uptrend - April placing with high churn - also suspect private investor trading (of course) but they will also be one closely monitoring to Buy Back In (do not believe what they say about their re-entry price target lol)
- Very Near Term timeframe for News Release if you go by all Intel leads
Make own investment decision but DO expect single day hard push Re-rate (as we see before & imo) when placing share replete / trading PI jump back in en masses.
I think this is Fair assesment & all Source/ Intel base 🦉
I traded them until they were worth.seven figures oilyfred. I forget my exit point. £3.50+ I think.
I like these bits of the article , although not new news
On March 11, GCM said in the notification that the company has received letters of interest to purchase Phulbari coal from Bangladesh's private sector coal producer SS Power's 1,320 MW Banshkhali coal-fired power plant and Barisal Electric Power Company's 350 MW Barisal coal-fired power plant. It is noteworthy that China's state-owned company Power Construction Corporation of China Limited (Power China) has a stake in these two power plants that want to buy coal from Phulbari. GCM has signed a $1 billion deal with Power China to 'cooperate' in the mining of Phulbari coal.
Quoting the Ministry of Energy, BBC Bangla informs that within the month of April, a proposal made on the basis of data from various surveys and feasibility studies conducted in the country's coal mines will be presented to the highest level of the government and sought approval. Despite the threat of destruction of agricultural land and water resources if coal mining is done, the rationale behind this initiative to extract coal is to deal with the future energy crisis and reduce import dependence. (New initiative for open pit coal mining in Bangladesh, BBC Bangla, 15 March 2024)
https://www.prothomalo.com/opinion/column/4oxptaf347
Header say all - According to their sources the Proposal submitted to highest level of Govt in April.
(Source: prothomalo.com/opinion/column/4oxptaf347)
Buy,hold or sell - make own decision!
🦉
Another 7-8 years even in the unlikely event it all went to plan and there is any gas found, only proven own resources to provide energy relief is Phulbari coal - 2 years to first coal.... do they really have a choice?
Nasrul Hamid in parliament: '“We have a pre-bid meeting with them tomorrow (Wednesday). The bidding process will end in September. I hope we will be able to appoint a company by mid-2025. They will conduct 3D surveys and drilling,” he said.
The government estimates up to $30 billion investments will be made in this offshore exploration. If oil or gas is found, it will be possible to extract that after another seven to eight years.'
https://bdnews24.com/business/9d9983d31c81
I had a wedge of GKP shares in Aug 09, what was you exit price? I sold half for £3.60 and half for 40p 😂😂
I bought 250k shares in GKP at 9p prior to Shaikan first oil.
I get the same feeling right now.
I’m bemused by the sp. I’m not scared.
Subscription shares might be the cause of the current price but I think other factors are in play. Non that can be interpreted or understood by us.
Things are playing out at the highest level. Do you k ow what that means 😌😌😌😌
"A paid rumber" Hmmmm 🤔
Probably a typo... I think he meant humper 😝
Awaiting the announcement…..until then will drift the overhang being played out
“A paid rumper”. I wish lol.
Https://www.tbsnews.net/bangladesh/energy/country-has-no-electricity-deficit-demand-nasrul-hamid-845616?amp
Now the country's power output capacity is more than the overall demand of electricity, however, the country so far could not generate power with its existing power generation capacity caused by Ukraine-Russia war and global fuel crisis", he said
Correct me if I'm wrong. I believe there was a deadline of 8 May set by IMF delegation to know govt plan on settling energy dues.
GPback you keep calling it strong buy and the share price keep going down and going down I’m going down are you a paid Rumper
Or maybe overhang still not cleared. Dropping the price to clear them out.
GP, some where around 5p is my bet, thats why i have a buy order in for 5.20
At what point does the interest in buying overcome the desire for subscription shares sales!!?
Can’t be long off…
Dropped it into the close offering 5.58p….maybe tactics to hit stops
Its only really been dropping since the market was flooded with subscription shares... but these are being bought up by keen buyers. so its just a case of waiting for the overhang to clear