Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Thanks Phulbari, you had been quiet for a while and there was me half thinking you were being lined up for some NED action!
Any mention of NED appointment?
Thank you, for the info Phulbari!
Hope that helps Torino. What i will add is, nearly all of us LTH’s invested here are in the red, with very little volume available at these levels, so any and all day traders will be flushed out relatively quickly.
There’s risk involved (if approval is rejected), but imo it’s the best risk vs reward share available on Aim. The ducks seemed to be lined up correctly so lets hope for the best.
Constant NT.
Is the cat out the bag?
Expecting 5p finish
Not much new, except that for the first time I can recall there was no visible protest outside. Gary trotted through the standard line that there was mounting pressure from on-high to broaden Bangla's energy base and include local coal. The project had been ready to go for 20 years and what should have been plain sailing had been held up by political interference. Although there was expectation that things were developing positively and confidence that there was support for the mine locally, there was still no actual timetable for project approval. If and when approved, they would opt for hybrid financing together with a mining contractor. It's expected that PowerChina would have a major role. On other matters, Christian was present as a shareholder but no questions were allowed as to his departure which appears to have stemmed from disagreement with Tang over demarcations, although there is probably more to this. Tang was present by audio remotely, though not with a video link, and he pushed back all questions about Polo.
The best/thorough update we’ve ever been provided was 29th Jan you can find all relevant info in there, here are some extracts from it:
- The State Minister for Power, Energy and Mineral Resources even spoke in parliament on the extraction of these coal resources, citing that the Phulbari coal deposit is the country's only realistic open pit coal mine option, implying its potential for delivering significant long-term coal production for power generation.
- Throughout the reporting period and beyond, the Company's Dhaka-based team has maintained contact with the relevant government agencies and there is credible evidence that the "new plans" cited by the Honourable Prime Minister are being framed and that such plans are addressing domestic coal extraction and exploration efforts for new gas. This is exciting news for the Company, the Project and its Shareholders and efforts are being made to ensure we are in the strongest position to engage with the newly elected government within the 1st Quarter 2024 and deliver the Project Proposal which includes a large-scale Solar Power Park as an adjunct.
The Company's relationship with its Development Partner, PowerChina, continues favourably evolve and they are now also involved in the proposed Solar Power Park via a JDA signed in January 2023.
- Our Dhaka team maintains contact with government agencies and has seen evidence that the forementioned momentum towards developing the country's known domestic coal resources and increasing exploration to identify new gas fields is waxing. The downturn in key economic indicators has seemingly been an awakening and it is most fortunate that the country has such a world class energy resource as the Phulbari coal deposit that can easily be developed and help insulate against the vagaries of the world energy market.
- GCM has patiently been working to be in the best position to present the Project Proposal to the Bangladesh Government and would welcome its participation as a partner in the Project. With the apparent move towards finally realising the potential of domestic energy resources, now that the National Election has been completed and the Awami League government returned, we are targeting Project Proposal delivery once the new government has settled in.
Where have they stated this Bangla,? I honestly can’t find it.
They have already stated proposal to be given in 1st quarter with some sort of participation/partnership with GOB. We are hoping for confirmation and more details today
Sorry Torino - you beat me to it.
Can anyone confirm where/when it was stated that the proposal is going to be submitted in Q1 as that was news to me. Was that in the AGM? If so, was there any level of confidence expressed, i.e. is it a target, an aspiration, a hope, or a clear intent. Any info much appreciated.
Hi I’m considering buying here, and seen some talk about applying for project approval this quarter…But I can’t see it in previous rns’s, so where has this come from? Many thanks in advance.
Went well, several posters present, will update in near future. Neds not an issue or seemingly future funding
How'd it go?
Yes and no Altube, although I’m convinced it will happen there is the possibility the govt will ask for ‘x’ & ‘y’ before they can approve. This grey area or any shift in govt stance towards approval will see a substantial rerate imo.
If it’s a No outright then i agree, it’s back to the drawing board but everything (literally everything) points towards a YES!
This will happen or it won’t. If it happens 1000p a share possible. If it doesn’t, the license has value and compensation will need to be paid 1p a share.
Hang on in there and be patient
I think not posting is a wise idea, just clicking on some of the posters id’s like petro and he’s posted the same deramping drivel across like 20 shares this week. Will get back to it once they clear off. GLA
No and no offence meant. It’s at the people looking for a quick buck and don’t see the potential. P&D warnings etc. Just frustrating as lth having higher average. This is the beginning of the end
12 years ive been here 12 years !!!! LOL and finally here we are.
So much potential and positive news in our favour in recent weeks this really does feel like our time has come.... Good luck to all long term holders you (we) deserve it!
I wont be posting anything else today and just let the Share Price do the talking from now on :)
Looking forward to any updates from the AGM from anyone that can make it, thank you
Something i posted almost 4 weeks ago as a brief update to those looking in and curious as to the rise - reasons below are why we believe approval will be given. We were waiting on confirmation of NED appt’s which were all but confirmed yesterday, SP should be much much higher with potential approval only around the corner.
adamk87
Posted in: GCM
Posts: 3,606
Price: 1.85
No Opinion
RE: Topped up again3 Feb 2024 12:31
They were already looking for an NED as per recent update. More than likely already had someone stepping in after agm, hopefully it’s a case of just pushing his start date back.
If you need the cash, then sell…same with any share. Don’t do it because it’s now more ‘riskier’ than ever…because it’s also now more ‘lucrative’ than ever if you’re looking at it glass half full. Let me explain why:
- decimated share price
- end date in sight (7 weeks, not 7 years)
- every macroeconomic factor in our favour (inflation, gdp, production and employment)
- a power house in Power China as a partner
- someone new investing £500,000 only last week
- lobbying the govt for last 12 months
- crumbing Taka (local currency)
- govt involvement in the project (sweetens the deal)
- coal to be used in country and not sold abroad
Unfortunately too many of these posts around…lol
Is that directed at me Teddy? I was in this stock many years ago when it was Asia Energy and it hit £9 intra-day.I've followed the story over the years and remember when Hasina was first elected the stock went from 10p to £1 in a day (yes,less shares in issue then).Bangla needs coal,fact.They are sitting on a huge resource and it would be crazy not to use it.Tell us what your expertise is.
Hope people don’t get spiked, well done who made profits, profits are only profits till banked
Goes higher here today for sure! 4p plus incoming
So many new experts. Brilliant