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Doze you should think a bit harder.....
If they default before benefits role in more will be for own people. Lets put it in simple words so you can understand....therefore delay until after default... capice? Or still to complicated?
COUNTRY in danger of IMF Defauit" (not company)
That is the point. Bangladesh should default imho
Attribution for GP's post https://www.gcmplc.com/phulbari-coal-project/benefits/economic-contribution . I emphasize this after referring to my favourite profile for Professional who seems to think by implication that OPM is going to cost Bangladesh. It is a capitalist enterprise for the benefit of Bengalis with the money for development raised by GCM, for his information.
"COUNTRY in danger of IMF Defauit" (not company)
Some people do not understand Economic background of PAST years compare to NOW.
*There is good reason why lot of small private investors stay small
We have FOREIGN EXCHANGE CRISIS now which is nothing like we have in past - this come from massive dependence on IMPORT Energy which must be pay in dollars.
Industry need energy for manufacturing to export to earn dollars - lot of load shedding / high energy cost mean exports less competitive.
Near IMF default recently with $5Bn emergency loan Hasina ask China for.
Keep up Mr Professional - this is NOTHING like previous years and company in danger of IMF default!!
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Mr Wos the best thing Hasina can do given current problems is actually nothing..and given that is what they normally go for that is what i think will happen. A few years nothing and then (AFTER restructuring of debt) go for domestic production. Preferaby renewables if needed coal as well.
Lets see
ECONOMIC CONTRIBUTION
The Project will make a substantial contribution to the economy of Bangladesh. The Project will contribute 1.5 percent to the country's GDP each year throughout its 30 year life. Approximately a third of all revenues, or around $9 billion, will flow to the Government in the form of royalties, taxes, duties and service charges. The Project’s mine operation alone will create around 17,000 jobs (direct and indirect) and the development of new industries using co-products from the mine and those enabled by Phulbari coal being used to generate electricity will create many thousands of more jobs. Training and employment opportunities will be provided to ensure that the benefit to the local communities is maximised.
The improved regional infrastructure necessary to support the Project will provide a catalyst for further development. For example, the fees paid for the transport of coal on the domestic rail network will finance the necessary network upgrades that would then be available to other rail users. Similarly the import of equipment for the mine and shipment of coal will provide the impetus for improved port facilities.
The Project will also have a positive effect on the balance of payments as it will reduce the need to import coal and other hydrocarbons.
No big trades (that I can see) - just PI trading.
Most people will not understand what Economic news like further fall of FX reserves mean (post 16:15 by Mr Pappikon).
Hello Mr Cybertron - he is my felloe holder from MATD - yes I bring them all here lol.
GCM Risk v Reward UNBEATABLE!
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Good find Searcher, the article is spot on he is just trying to deflect the blame whereas the mess they are in is largely a result of his former influence, his comments were ludicrous to the point of desperation, my understanding is he is sidelined now as they have finally realised he is a liability. I was watching Narsul Hamid when Chowdury was talking at that Engineers conference and his face said it all, cringeworthy !
Bangladesh's foreign exchange reserves fell below the $19 billion-mark for the first time in 11 months.
https://www.thedailystar.net/business/news/reserves-fall-below-19-billion-first-time-11-months-3608441
This is a really good read... I have only copied the first paragraph, but you should take time to read the whole article ....
Over the past couple of months the prime minister's energy advisor Tawfiq-e-Elahi Chowdhury has been coming up with all sorts of new theories of western conspiracy to explain the prevailing crisis. I feel the need to explain that blaming the West is a strategy to cover up the failures of the government's policymakers.
https://en.prothomalo.com/opinion/op-ed/3fft91w18f
Can....lose a lot of money
I don't think they can. OPM is going to happen so the worse that can take place is a placing conditional on delisting as per POLO but that would not be in Tang's interests or in the interest of getting approval.
GCM deserve a lot of backing for the diligent and persistent work they have done against the headwind but the wind is on the tail now.
They could of course. If I could wish it back to 2p to buy more now under the current expectation of the GL I would 😎
GP your lucky mate but anyone buying now could lose alot of money if it goes Pete tong
I did buy at 1/2p. It’s in an uptrend to 100p+ now 🫡😃
Yeah, from last years calender and Henry Hoover.
We are all set now until next year ;)
I still think this has huge risk buying at current share price, 1/2p is a good buy here, because any delays or bad news will deip.this righgt back to 1p,
The rewards are massive too but it just seems like Bangladesh moves too slow, also missing out on many opportunities
Nctrade but don't they now have more then a year's money now to keep going after tge last raise?
Tang selling the assets (brew room kettle, GCM pens,calander with open pit mining projects pictures as each months theme) and buying more free float up.
Just a guess
What is going on with all these random small trades today? Weird!
Adamk87
Not sure what the posting history has to do with how gcm is being run.
Better to spend your time and scrutinise the gcm financials and then you’ll realise they had been raising millions each year for ‘working capital’ towards trying to achieve approval from the government for the phulbari project without any success.
Once this money runs out they will request another raise for more ‘working capital’ :-))
I did notice it was up to date and read well, hence my heading.
*******o adam is copy and pasting people's past posts against lollllll
#drivel